Weaver Consulting Group Reduces Position in Edwards Lifesciences Co. (NYSE:EW)

Weaver Consulting Group trimmed its position in Edwards Lifesciences Co. (NYSE:EW) by 0.8% during the 3rd quarter, Holdings Channel.com reports. The fund owned 47,493 shares of the medical research company’s stock after selling 359 shares during the period. Edwards Lifesciences accounts for 1.0% of Weaver Consulting Group’s investment portfolio, making the stock its 26th biggest holding. Weaver Consulting Group’s holdings in Edwards Lifesciences were worth $3,134,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in EW. Lantz Financial LLC raised its stake in shares of Edwards Lifesciences by 25.3% in the second quarter. Lantz Financial LLC now owns 3,236 shares of the medical research company’s stock worth $299,000 after purchasing an additional 654 shares during the last quarter. Valeo Financial Advisors LLC raised its position in Edwards Lifesciences by 7.4% during the 2nd quarter. Valeo Financial Advisors LLC now owns 5,133 shares of the medical research company’s stock worth $474,000 after buying an additional 354 shares during the last quarter. Webster Bank N. A. acquired a new stake in Edwards Lifesciences during the 2nd quarter valued at approximately $39,000. QRG Capital Management Inc. boosted its holdings in shares of Edwards Lifesciences by 4.3% in the 2nd quarter. QRG Capital Management Inc. now owns 46,353 shares of the medical research company’s stock valued at $4,282,000 after acquiring an additional 1,898 shares during the last quarter. Finally, Opal Wealth Advisors LLC acquired a new stake in shares of Edwards Lifesciences in the second quarter worth $137,000. Institutional investors and hedge funds own 79.46% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on EW shares. Jefferies Financial Group lowered shares of Edwards Lifesciences from a “buy” rating to a “hold” rating and lowered their price target for the company from $85.00 to $70.00 in a report on Wednesday, September 18th. Royal Bank of Canada raised their target price on Edwards Lifesciences from $80.00 to $85.00 and gave the stock an “outperform” rating in a report on Thursday. Wells Fargo & Company decreased their price target on Edwards Lifesciences from $90.00 to $80.00 and set an “overweight” rating for the company in a report on Monday, September 9th. Evercore ISI cut their target price on shares of Edwards Lifesciences from $76.00 to $70.00 and set an “in-line” rating for the company in a report on Tuesday, October 1st. Finally, JPMorgan Chase & Co. increased their price target on shares of Edwards Lifesciences from $72.00 to $78.00 and gave the stock a “neutral” rating in a report on Friday, October 25th. Seventeen research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $78.35.

Edwards Lifesciences Stock Down 2.4 %

Shares of NYSE:EW opened at $72.43 on Friday. Edwards Lifesciences Co. has a 52-week low of $58.93 and a 52-week high of $96.12. The stock has a market cap of $42.72 billion, a P/E ratio of 10.45, a PEG ratio of 3.95 and a beta of 1.12. The business has a fifty day moving average of $68.55 and a two-hundred day moving average of $74.76. The company has a quick ratio of 2.89, a current ratio of 3.46 and a debt-to-equity ratio of 0.06.

Edwards Lifesciences (NYSE:EW) last released its quarterly earnings data on Thursday, October 24th. The medical research company reported $0.67 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.67. The firm had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.57 billion. Edwards Lifesciences had a net margin of 70.82% and a return on equity of 20.76%. Edwards Lifesciences’s revenue was up 8.9% compared to the same quarter last year. During the same period last year, the business earned $0.59 earnings per share. On average, research analysts expect that Edwards Lifesciences Co. will post 2.57 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Larry L. Wood sold 25,000 shares of the business’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $65.91, for a total value of $1,647,750.00. Following 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Donald E. Bobo, Jr. sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $69.51, for a total value of $347,550.00. Following the transaction, the vice president now owns 46,936 shares of the company’s stock, valued at $3,262,521.36. This trade represents a 9.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 40,000 shares of company stock worth $2,657,000. Company insiders own 1.29% of the company’s stock.

Edwards Lifesciences 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.