Edwards Lifesciences Co. (NYSE:EW) Shares Sold by USS Investment Management Ltd

USS Investment Management Ltd reduced its position in Edwards Lifesciences Co. (NYSE:EW - Free Report) by 9.8% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 118,171 shares of the medical research company's stock after selling 12,911 shares during the period. USS Investment Management Ltd's holdings in Edwards Lifesciences were worth $8,752,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Prosperity Consulting Group LLC boosted its holdings in Edwards Lifesciences by 3.6% during the 4th quarter. Prosperity Consulting Group LLC now owns 3,906 shares of the medical research company's stock valued at $289,000 after acquiring an additional 134 shares during the period. Abacus Planning Group Inc. increased its stake in Edwards Lifesciences by 0.3% during the fourth quarter. Abacus Planning Group Inc. now owns 40,207 shares of the medical research company's stock worth $2,977,000 after purchasing an additional 140 shares during the period. Moors & Cabot Inc. lifted its position in shares of Edwards Lifesciences by 0.3% during the fourth quarter. Moors & Cabot Inc. now owns 54,589 shares of the medical research company's stock worth $4,041,000 after purchasing an additional 152 shares in the last quarter. Quadrant Capital Group LLC lifted its position in shares of Edwards Lifesciences by 3.1% during the fourth quarter. Quadrant Capital Group LLC now owns 5,180 shares of the medical research company's stock worth $383,000 after purchasing an additional 156 shares in the last quarter. Finally, Pegasus Asset Management Inc. boosted its stake in shares of Edwards Lifesciences by 0.4% in the fourth quarter. Pegasus Asset Management Inc. now owns 42,628 shares of the medical research company's stock valued at $3,156,000 after purchasing an additional 159 shares during the period. 79.46% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CFO Scott B. Ullem sold 11,250 shares of the firm's stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $70.78, for a total transaction of $796,275.00. Following the completion of the sale, the chief financial officer now owns 30,387 shares of the company's stock, valued at approximately $2,150,791.86. This trade represents a 27.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Daveen Chopra sold 1,500 shares of the firm's stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $75.08, for a total transaction of $112,620.00. Following the sale, the vice president now directly owns 33,496 shares of the company's stock, valued at $2,514,879.68. The trade was a 4.29% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 67,692 shares of company stock worth $4,822,074. 1.29% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

EW has been the subject of several analyst reports. Truist Financial lowered their target price on 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 boosted their price objective on Edwards Lifesciences from $72.00 to $75.00 and gave the stock a "neutral" rating in a research report on Thursday, April 24th. Canaccord Genuity Group raised their price target on Edwards Lifesciences from $71.00 to $75.00 and gave the company a "hold" rating in a research note on Friday, April 25th. Morgan Stanley raised their price target on Edwards Lifesciences from $70.00 to $75.00 and gave the company an "equal weight" rating in a research note on Wednesday, February 12th. Finally, Wolfe Research cut Edwards Lifesciences from a "hold" rating to a "strong sell" rating in a research note on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, Edwards Lifesciences currently has a consensus rating of "Hold" and a consensus price target of $80.20.

Edwards Lifesciences Price Performance

Shares of NYSE:EW traded up $0.19 during midday trading on Friday, hitting $74.98. 3,738,140 shares of the stock were exchanged, compared to its average volume of 5,152,364. The stock has a market cap of $43.98 billion, a P/E ratio of 10.76, a PEG ratio of 4.82 and a beta of 1.12. The company has a current ratio of 3.46, a quick ratio of 2.89 and a debt-to-equity ratio of 0.06. Edwards Lifesciences Co. has a twelve month low of $58.93 and a twelve month high of $95.25. The company has a 50 day moving average price of $72.78 and a 200-day moving average price of $72.09.

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