Comerica Bank Reduces Stock Holdings in Edwards Lifesciences Co. (NYSE:EW)

Comerica Bank trimmed its stake in Edwards Lifesciences Co. (NYSE:EW - Free Report) by 7.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 126,262 shares of the medical research company's stock after selling 9,687 shares during the period. Comerica Bank's holdings in Edwards Lifesciences were worth $9,347,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of EW. Wilmington Savings Fund Society FSB grew its holdings in Edwards Lifesciences by 147.0% in the third quarter. Wilmington Savings Fund Society FSB now owns 9,106 shares of the medical research company's stock worth $601,000 after purchasing an additional 5,420 shares during the period. Tidal Investments LLC increased its position in Edwards Lifesciences by 0.7% during the 3rd quarter. Tidal Investments LLC now owns 39,532 shares of the medical research company's stock valued at $2,609,000 after buying an additional 275 shares in the last quarter. Franklin Resources Inc. raised its stake in Edwards Lifesciences by 2.3% during the third quarter. Franklin Resources Inc. now owns 1,196,059 shares of the medical research company's stock valued at $83,282,000 after buying an additional 27,193 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in Edwards Lifesciences by 2.2% in the third quarter. Principal Financial Group Inc. now owns 817,516 shares of the medical research company's stock worth $53,948,000 after acquiring an additional 17,647 shares in the last quarter. Finally, Versant Capital Management Inc grew its stake in shares of Edwards Lifesciences by 102.5% in the fourth quarter. Versant Capital Management Inc now owns 1,553 shares of the medical research company's stock worth $115,000 after acquiring an additional 786 shares during the last quarter. Hedge funds and other institutional investors own 79.46% of the company's stock.

Wall Street Analysts Forecast Growth

EW has been the subject of a number of analyst reports. Truist Financial reduced their price objective on shares of Edwards Lifesciences from $78.00 to $75.00 and set a "hold" rating for the company in a research note on Friday, April 11th. Robert W. Baird raised their target price on shares of Edwards Lifesciences from $72.00 to $75.00 and gave the stock a "neutral" rating in a report on Thursday, April 24th. Stifel Nicolaus upgraded Edwards Lifesciences from a "hold" rating to a "buy" rating and boosted their price target for the company from $75.00 to $90.00 in a research note on Thursday, January 30th. Barclays lifted their price objective on Edwards Lifesciences from $88.00 to $90.00 and gave the company an "overweight" rating in a research report on Thursday, February 13th. Finally, Evercore ISI dropped their target price on shares of Edwards Lifesciences from $75.00 to $73.00 and set an "in-line" rating for the company in a report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, Edwards Lifesciences has an average rating of "Hold" and a consensus target price of $79.45.

Insiders Place Their Bets

In other Edwards Lifesciences news, CFO Scott B. Ullem sold 11,250 shares of the stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $75.76, for a total value of $852,300.00. Following the sale, the chief financial officer now directly owns 30,561 shares of the company's stock, valued at approximately $2,315,301.36. This represents a 26.91 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Bernard J. Zovighian sold 5,980 shares of the business's stock in a transaction on Monday, May 5th. The stock was sold at an average price of $74.91, for a total transaction of $447,961.80. Following the transaction, the chief executive officer now owns 58,284 shares of the company's stock, valued at approximately $4,366,054.44. The trade was a 9.31 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 77,833 shares of company stock worth $5,611,023 over the last 90 days. Corporate insiders own 1.29% of the company's stock.

Edwards Lifesciences Trading Down 0.2 %

EW traded down $0.17 during mid-day trading on Tuesday, hitting $74.94. 2,378,625 shares of the stock were exchanged, compared to its average volume of 5,019,167. The company has a current ratio of 3.46, a quick ratio of 2.89 and a debt-to-equity ratio of 0.06. The company has a market cap of $44.05 billion, a PE ratio of 10.75, a PEG ratio of 4.82 and a beta of 1.12. The firm's fifty day moving average is $71.23 and its two-hundred day moving average is $71.39. Edwards Lifesciences Co. has a 1-year low of $58.93 and a 1-year high of $95.25.

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

About Edwards Lifesciences

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.