Parsons Capital Management Inc. RI Sells 486 Shares of Edwards Lifesciences Co. (NYSE:EW)

Parsons Capital Management Inc. RI trimmed its position in shares of Edwards Lifesciences Co. (NYSE:EW) by 12.9% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 3,283 shares of the medical research company’s stock after selling 486 shares during the period. Parsons Capital Management Inc. RI’s holdings in Edwards Lifesciences were worth $243,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Wellington Management Group LLP increased its stake in Edwards Lifesciences by 86.3% in the third quarter. Wellington Management Group LLP now owns 31,532,725 shares of the medical research company’s stock valued at $2,080,845,000 after acquiring an additional 14,610,123 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of Edwards Lifesciences by 475.8% in the 4th quarter. Assenagon Asset Management S.A. now owns 4,243,976 shares of the medical research company’s stock valued at $314,182,000 after purchasing an additional 3,506,886 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its stake in shares of Edwards Lifesciences by 239.9% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 3,693,663 shares of the medical research company’s stock valued at $243,745,000 after purchasing an additional 2,606,950 shares during the last quarter. Seilern Investment Management Ltd acquired a new position in shares of Edwards Lifesciences during the 4th quarter worth $109,490,000. Finally, Nordea Investment Management AB lifted its position in shares of Edwards Lifesciences by 34.6% during the 4th quarter. Nordea Investment Management AB now owns 4,057,013 shares of the medical research company’s stock worth $301,355,000 after buying an additional 1,043,484 shares during the last quarter. 79.46% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Wolfe Research downgraded Edwards Lifesciences from a “peer perform” rating to an “underperform” rating and set a $60.00 target price for the company. in a research note on Thursday, January 16th. Piper Sandler lowered their price objective on shares of Edwards Lifesciences from $73.00 to $70.00 and set a “neutral” rating for the company in a research report on Friday, October 25th. Daiwa America lowered shares of Edwards Lifesciences from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 30th. Citigroup upped their price target on shares of Edwards Lifesciences from $81.00 to $83.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $70.00 price target on shares of Edwards Lifesciences in a research note on Friday, October 11th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $78.48.

Insider Activity at Edwards Lifesciences

In other Edwards Lifesciences news, insider Larry L. Wood sold 25,000 shares of the business’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $65.91, for a total transaction of $1,647,750.00. Following the completion of the sale, the insider now owns 198,526 shares in the company, valued at approximately $13,084,848.66. The trade was a 11.18 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Daniel J. Lippis sold 2,500 shares of the firm’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $74.08, for a total transaction of $185,200.00. Following the completion of the transaction, the vice president now directly owns 23,189 shares in the company, valued at $1,717,841.12. This trade represents a 9.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 33,000 shares of company stock valued at $2,195,180 in the last three months. Corporate insiders own 1.29% of the company’s stock.

Edwards Lifesciences Price Performance

EW stock opened at $72.52 on Wednesday. The stock has a market capitalization of $42.77 billion, a PE ratio of 10.46, a price-to-earnings-growth ratio of 3.54 and a beta of 1.11. The company’s 50-day moving average is $72.32 and its 200-day moving average is $70.19. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.46 and a quick ratio of 2.89. Edwards Lifesciences Co. has a 1 year low of $58.93 and a 1 year high of $96.12.

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.