Algert Global LLC Lowers Holdings in Edwards Lifesciences Co. (NYSE:EW)

Algert Global LLC trimmed its stake in Edwards Lifesciences Co. (NYSE:EW - Free Report) by 81.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,812 shares of the medical research company's stock after selling 52,313 shares during the period. Algert Global LLC's holdings in Edwards Lifesciences were worth $874,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Crowley Wealth Management Inc. purchased a new stake in Edwards Lifesciences in the fourth quarter worth approximately $26,000. Millstone Evans Group LLC purchased a new stake in Edwards Lifesciences in the fourth quarter worth approximately $29,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Edwards Lifesciences in the fourth quarter worth approximately $30,000. Roble Belko & Company Inc purchased a new stake in Edwards Lifesciences in the fourth quarter worth approximately $46,000. Finally, Catalyst Capital Advisors LLC purchased a new stake in shares of Edwards Lifesciences during the fourth quarter valued at approximately $54,000. 79.46% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on EW shares. Royal Bank of Canada restated an "outperform" rating and issued a $85.00 target price on shares of Edwards Lifesciences in a report on Wednesday, February 12th. Truist Financial lowered their price objective on Edwards Lifesciences from $78.00 to $75.00 and set a "hold" rating for the company in a research report on Friday, April 11th. Wolfe Research downgraded Edwards Lifesciences from a "hold" rating to a "strong sell" rating in a report on Wednesday, February 12th. Evercore ISI reduced their price target on Edwards Lifesciences from $75.00 to $73.00 and set an "in-line" rating for the company in a report on Wednesday, February 12th. Finally, Robert W. Baird lifted their price objective on Edwards Lifesciences from $72.00 to $75.00 and gave the stock a "neutral" rating in a report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, Edwards Lifesciences has a consensus rating of "Hold" and a consensus price target of $79.60.

Edwards Lifesciences Stock Performance

Shares of EW stock traded up $1.54 during trading hours on Wednesday, reaching $77.04. 7,639,706 shares of the company traded hands, compared to its average volume of 5,072,832. The firm has a 50-day moving average price of $71.59 and a 200 day moving average price of $71.58. 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 12-month low of $58.93 and a 12-month high of $95.25. The company has a market cap of $45.19 billion, a P/E ratio of 11.05, a P/E/G ratio of 4.82 and a beta of 1.12.

Edwards Lifesciences (NYSE:EW - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The medical research company reported $0.64 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.60 by $0.04. Edwards Lifesciences had a return on equity of 19.40% and a net margin of 72.93%. The business had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.40 billion. During the same quarter in the previous year, the company posted $0.66 EPS. The company's revenue was up 6.2% compared to the same quarter last year. As a group, sell-side analysts predict that Edwards Lifesciences Co. will post 2.45 earnings per share for the current fiscal year.

Insider Activity

In other Edwards Lifesciences news, VP Daniel J. Lippis sold 400 shares of the company's stock in a transaction on Monday, March 10th. The stock was sold at an average price of $69.48, for a total value of $27,792.00. Following the transaction, the vice president now owns 22,588 shares of the company's stock, valued at $1,569,414.24. This represents a 1.74% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Steven R. Loranger sold 5,739 shares of the company's stock in a transaction on Friday, February 14th. The shares were sold at an average price of $76.42, for a total value of $438,574.38. Following the completion of the transaction, the director now directly owns 60,372 shares in the company, valued at $4,613,628.24. This trade represents a 8.68% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 89,681 shares of company stock valued at $6,492,703. 1.29% of the stock is currently owned by insiders.

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.