Edwards Lifesciences Co. (NYSE:EW) Shares Sold by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio lowered its holdings in shares of Edwards Lifesciences Co. (NYSE:EW) by 19.5% in the first quarter, Holdings Channel reports. The firm owned 293,331 shares of the medical research company’s stock after selling 71,277 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Edwards Lifesciences were worth $28,031,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. Bellevue Group AG lifted its stake in shares of Edwards Lifesciences by 8.3% in the 1st quarter. Bellevue Group AG now owns 1,103,136 shares of the medical research company’s stock worth $105,416,000 after acquiring an additional 84,138 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of Edwards Lifesciences by 57.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,516,260 shares of the medical research company’s stock worth $622,695,000 after acquiring an additional 2,390,137 shares during the period. Lazard Asset Management LLC lifted its stake in shares of Edwards Lifesciences by 89.6% in the 1st quarter. Lazard Asset Management LLC now owns 93,629 shares of the medical research company’s stock worth $8,946,000 after acquiring an additional 44,257 shares during the period. LRI Investments LLC acquired a new stake in shares of Edwards Lifesciences in the 1st quarter worth $67,000. Finally, Stonebridge Capital Advisors LLC lifted its stake in shares of Edwards Lifesciences by 2.3% in the 1st quarter. Stonebridge Capital Advisors LLC now owns 24,942 shares of the medical research company’s stock worth $2,383,000 after acquiring an additional 554 shares during the period. Institutional investors and hedge funds own 79.46% of the company’s stock.

Edwards Lifesciences Stock Up 2.3 %

Shares of EW traded up $1.45 during mid-day trading on Monday, reaching $63.82. 7,663,560 shares of the stock traded hands, compared to its average volume of 3,798,484. The firm has a market cap of $38.46 billion, a price-to-earnings ratio of 27.54, a P/E/G ratio of 2.33 and a beta of 1.11. The stock has a fifty day simple moving average of $87.98 and a 200 day simple moving average of $86.99. Edwards Lifesciences Co. has a 12-month low of $58.93 and a 12-month high of $96.12. The company has a quick ratio of 2.87, a current ratio of 3.71 and a debt-to-equity ratio of 0.08.

Edwards Lifesciences (NYSE:EW) last posted its quarterly earnings data on Wednesday, July 24th. The medical research company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.01. The company had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.65 billion. Edwards Lifesciences had a net margin of 24.55% and a return on equity of 22.35%. The business’s quarterly revenue was up 6.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.66 earnings per share. Sell-side analysts expect that Edwards Lifesciences Co. will post 2.71 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Bernard J. Zovighian purchased 580 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The stock was acquired at an average price of $85.74 per share, for a total transaction of $49,729.20. Following the completion of the purchase, the chief executive officer now owns 3,268 shares in the company, valued at $280,198.32. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Edwards Lifesciences news, CEO Bernard J. Zovighian bought 580 shares of the stock in a transaction on Monday, May 6th. The stock was purchased at an average price of $85.74 per share, for a total transaction of $49,729.20. Following the completion of the purchase, the chief executive officer now directly owns 3,268 shares in the company, valued at $280,198.32. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Scott B. Ullem sold 7,250 shares of the business’s stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $85.80, for a total transaction of $622,050.00. Following the sale, the chief financial officer now owns 19,074 shares of the company’s stock, valued at approximately $1,636,549.20. The disclosure for this sale can be found here. Over the last quarter, insiders sold 81,099 shares of company stock worth $7,003,553. Insiders own 1.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on EW shares. TD Cowen downgraded shares of Edwards Lifesciences from a “buy” rating to a “hold” rating and cut their price target for the company from $100.00 to $70.00 in a report on Thursday. Citigroup increased their price target on shares of Edwards Lifesciences from $105.00 to $106.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Mizuho increased their price target on shares of Edwards Lifesciences from $95.00 to $105.00 and gave the company a “buy” rating in a report on Thursday, April 11th. Bank of America downgraded shares of Edwards Lifesciences from a “buy” rating to a “neutral” rating and cut their price target for the company from $105.00 to $75.00 in a report on Thursday. Finally, Piper Sandler cut their price target on shares of Edwards Lifesciences from $88.00 to $73.00 and set a “neutral” rating for the company in a report on Thursday. Fourteen research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $82.10.

Edwards Lifesciences Company Profile

Edwards Lifesciences Corporation provides products and technologies for structural heart disease and critical care monitoring in the United States, Europe, Japan, and internationally. It offers transcatheter heart valve replacement products for the minimally invasive replacement of aortic heart valves under the Edwards SAPIEN family of valves system; and transcatheter heart valve repair and replacement products to treat mitral and tricuspid valve diseases under the PASCAL PRECISION and Cardioband names.