Voloridge Investment Management LLC Sells 1,272,304 Shares of Edwards Lifesciences Co. (NYSE:EW)

Voloridge Investment Management LLC trimmed its holdings in Edwards Lifesciences Co. (NYSE:EW - Free Report) by 76.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 383,606 shares of the medical research company's stock after selling 1,272,304 shares during the period. Voloridge Investment Management LLC owned 0.07% of Edwards Lifesciences worth $28,398,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in EW. Crowley Wealth Management Inc. bought a new position in Edwards Lifesciences during the fourth quarter worth $26,000. Millstone Evans Group LLC acquired a new stake in shares of Edwards Lifesciences during the 4th quarter worth about $29,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Edwards Lifesciences during the 4th quarter worth about $30,000. Catalyst Capital Advisors LLC bought a new stake in shares of Edwards Lifesciences during the 4th quarter worth about $54,000. Finally, SBI Securities Co. Ltd. acquired a new position in Edwards Lifesciences in the 4th quarter valued at about $62,000. 79.46% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Robert W. Baird raised their price objective on shares of Edwards Lifesciences from $72.00 to $75.00 and gave the stock a "neutral" rating in a research report on Thursday, April 24th. Citigroup reissued a "buy" rating and set a $95.00 price target (up from $84.00) on shares of Edwards Lifesciences in a report on Thursday, May 22nd. Royal Bank of Canada restated an "outperform" rating and issued a $85.00 price target on shares of Edwards Lifesciences in a research note on Wednesday, February 12th. Truist Financial lowered their price objective on Edwards Lifesciences from $78.00 to $75.00 and set a "hold" rating on the stock in a research report on Friday, April 11th. Finally, Morgan Stanley boosted their target price on shares of Edwards Lifesciences from $70.00 to $75.00 and gave the company an "equal weight" rating in a research report on Wednesday, February 12th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, Edwards Lifesciences currently has a consensus rating of "Hold" and a consensus target price of $80.20.

Edwards Lifesciences Price Performance

Shares of EW traded up $0.92 during midday trading on Tuesday, hitting $75.91. The company's stock had a trading volume of 1,006,658 shares, compared to its average volume of 5,136,496. 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 Co. has a one year low of $58.93 and a one year high of $95.25. The stock has a market capitalization of $44.53 billion, a price-to-earnings ratio of 10.89, a price-to-earnings-growth ratio of 4.82 and a beta of 1.12. The company's fifty day simple moving average is $72.86 and its two-hundred day simple moving average is $72.19.

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 for the quarter, beating the consensus estimate 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 analyst estimates of $1.40 billion. During the same period last year, the firm posted $0.66 earnings per share. Edwards Lifesciences's revenue was up 6.2% compared to the same quarter last year. As a group, equities analysts expect that Edwards Lifesciences Co. will post 2.45 earnings per share for the current fiscal year.

Insider Activity at Edwards Lifesciences

In other news, 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 completion of the transaction, the chief executive officer now directly owns 59,083 shares in the company, valued at approximately $4,106,859.33. This represents a 9.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Daniel J. Lippis sold 400 shares of the firm's stock in a transaction on Monday, March 10th. The shares were sold at an average price of $69.48, for a total value of $27,792.00. Following the sale, the vice president now directly owns 22,588 shares in the company, valued at approximately $1,569,414.24. This trade represents a 1.74% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 67,692 shares of company stock valued at $4,822,074. 1.29% of the stock is 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.