Legacy Wealth Management LLC MS Sells 11,036 Shares of Edwards Lifesciences Co. (NYSE:EW)

Legacy Wealth Management LLC MS reduced its stake in shares of Edwards Lifesciences Co. (NYSE:EW - Free Report) by 78.4% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 3,045 shares of the medical research company's stock after selling 11,036 shares during the period. Legacy Wealth Management LLC MS's holdings in Edwards Lifesciences were worth $221,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Crowley Wealth Management Inc. bought a new stake in shares of Edwards Lifesciences in the 4th quarter worth $26,000. Vega Investment Solutions bought a new stake in Edwards Lifesciences in the 4th quarter worth about $27,000. Millstone Evans Group LLC bought a new stake in Edwards Lifesciences in the 4th quarter worth about $29,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in Edwards Lifesciences in the 4th quarter worth about $30,000. Finally, Park Square Financial Group LLC bought a new stake in Edwards Lifesciences in the 4th quarter worth about $44,000. 79.46% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on EW shares. Barclays upped their target price on Edwards Lifesciences from $88.00 to $90.00 and gave the company an "overweight" rating in a report on Thursday, February 13th. Wall Street Zen downgraded Edwards Lifesciences from a "buy" rating to a "hold" rating in a research note on Friday, May 16th. Stifel Nicolaus upgraded shares of Edwards Lifesciences from a "hold" rating to a "buy" rating and increased their price target for the company from $75.00 to $90.00 in a research report on Thursday, January 30th. Robert W. Baird increased their price target on shares of Edwards Lifesciences from $72.00 to $75.00 and gave the company a "neutral" rating in a research report on Thursday, April 24th. Finally, Royal Bank of Canada restated an "outperform" rating and set a $85.00 price target on shares of Edwards Lifesciences in a research report on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $80.20.

Edwards Lifesciences Price Performance

NYSE EW traded up $0.36 during trading hours on Friday, hitting $78.09. The company had a trading volume of 9,048,502 shares, compared to its average volume of 5,194,532. The firm has a 50 day simple moving average of $73.35 and a 200 day simple moving average of $72.41. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.89 and a current ratio of 3.46. Edwards Lifesciences Co. has a 52 week low of $58.93 and a 52 week high of $95.25. The firm has a market capitalization of $45.81 billion, a price-to-earnings ratio of 11.20, a PEG ratio of 4.82 and a beta of 1.12.

Edwards Lifesciences (NYSE:EW - Get Free Report) last announced its quarterly earnings results 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. The firm had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.40 billion. Edwards Lifesciences had a net margin of 72.93% and a return on equity of 19.40%. The business's quarterly revenue was up 6.2% compared to the same quarter last year. During the same period last year, the firm earned $0.66 EPS. Equities research analysts expect that Edwards Lifesciences Co. will post 2.45 earnings per share for the current year.

Insider Activity

In related news, CFO Scott B. Ullem sold 11,250 shares of the company's stock in a transaction on Wednesday, March 26th. The shares were sold at an average price of $70.87, for a total transaction of $797,287.50. Following the completion of the sale, the chief financial officer now directly owns 30,387 shares in the company, valued at $2,153,526.69. This represents a 27.02% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Bernard J. Zovighian sold 6,164 shares of the company's stock in a transaction on Monday, March 10th. The shares were sold at an average price of $69.51, for a total transaction of $428,459.64. Following the sale, the chief executive officer now owns 59,083 shares of the company's stock, valued at $4,106,859.33. This represents a 9.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 56,442 shares of company stock worth $4,025,799. 0.34% of the stock is currently owned by insiders.

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.