Edwards Lifesciences Corporation $EW Shares Sold by Investment House LLC

Key Points

• Investment House LLC cut its Edwards Lifesciences stake by 52.3% in the third quarter, selling 62,060 shares and retaining 56,715 shares valued at approximately $4.9 million. Institutional investors collectively own 79.46% of the company.
• Edwards Lifesciences reported quarterly revenue of $1.74 billion and adjusted earnings of $0.78 per share, exceeding analyst estimates, while revenue increased 13.6% year over year.
• Analyst sentiment remains favorable, with the stock carrying a consensus “Moderate Buy” rating and an average price target of $100.27, compared with a reported trading price of $90.15.

Investment House LLC lessened its stake in Edwards Lifesciences Corporation (NYSE:EW - Free Report) by 52.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 56,715 shares of the medical research company's stock after selling 62,060 shares during the quarter. Investment House LLC's holdings in Edwards Lifesciences were worth $4,896,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. BlackRock Inc. purchased a new stake in shares of Edwards Lifesciences during the 2nd quarter valued at approximately $5,318,092,000. Bank of New York Mellon Corp purchased a new position in Edwards Lifesciences in the second quarter worth approximately $1,274,082,000. Bank of America Corp DE purchased a new position in Edwards Lifesciences in the second quarter worth approximately $605,397,000. Deutsche Bank AG purchased a new position in Edwards Lifesciences in the second quarter worth approximately $516,552,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Edwards Lifesciences by 0.6% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,488,643 shares of the medical research company's stock worth $496,503,000 after acquiring an additional 30,495 shares during the last quarter. Institutional investors and hedge funds own 79.46% of the company's stock.

Edwards Lifesciences Trading Up 2.0%

Shares of NYSE:EW opened at $90.15 on Friday. Edwards Lifesciences Corporation has a 52 week low of $74.66 and a 52 week high of $96.29. The company's 50 day moving average is $88.10 and its two-hundred day moving average is $86.60. The company has a current ratio of 4.52, a quick ratio of 3.77 and a debt-to-equity ratio of 0.06. The company has a market cap of $51.91 billion, a PE ratio of 51.81, a P/E/G ratio of 2.32 and a beta of 0.87.

Edwards Lifesciences (NYSE:EW - Get Free Report) last released its quarterly earnings data on Thursday, July 23rd. The medical research company reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.04. The business had revenue of $1.74 billion during the quarter, compared to analysts' expectations of $1.70 billion. Edwards Lifesciences had a net margin of 15.43% and a return on equity of 15.68%. The company's revenue for the quarter was up 13.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.67 EPS. Equities analysts predict that Edwards Lifesciences Corporation will post 3.00 earnings per share for the current fiscal year.

Insider Buying and Selling at Edwards Lifesciences

In other news, VP Daniel Lippis sold 619 shares of the company's stock in a transaction dated Thursday, October 8th. The stock was sold at an average price of $85.65, for a total transaction of $53,017.35. Following the completion of the transaction, the vice president directly owned 40,034 shares of the company's stock, valued at approximately $3,428,912.10. This represents a 1.52% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Andrew M. Dahl sold 544 shares of the company's stock in a transaction dated Monday, August 31st. The stock was sold at an average price of $91.06, for a total value of $49,536.64. Following the transaction, the senior vice president directly owned 14,868 shares of the company's stock, valued at approximately $1,353,880.08. This represents a 3.53% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 5,045 shares of company stock worth $451,596 over the last ninety days. Corporate insiders own 0.31% of the company's stock.

Analyst Ratings Changes

A number of research firms recently weighed in on EW. The Goldman Sachs Group increased their price objective on shares of Edwards Lifesciences from $98.00 to $102.00 and gave the stock a "buy" rating in a research report on Tuesday, July 14th. Weiss Ratings reiterated a "hold (c)" rating on shares of Edwards Lifesciences in a report on Thursday, October 15th. JPMorgan Chase & Co. boosted their target price on Edwards Lifesciences from $100.00 to $105.00 and gave the company an "overweight" rating in a research report on Friday, October 2nd. Robert W. Baird decreased their price target on Edwards Lifesciences from $94.00 to $90.00 and set a "neutral" rating on the stock in a research note on Thursday, October 15th. Finally, Wall Street Zen upgraded Edwards Lifesciences from a "hold" rating to a "buy" rating in a research report on Saturday, October 17th. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $100.27.

About Edwards Lifesciences

Edwards Lifesciences Corporation NYSE: EW is a medical technology company focused on therapies for structural heart disease and critical care. The company develops and manufactures products designed to treat conditions affecting the heart's valves, including aortic, mitral and tricuspid valve disorders.

Its portfolio includes transcatheter aortic valve replacement systems, transcatheter mitral and tricuspid therapies, surgical heart valves and valve-repair technologies. Edwards also provides related delivery systems and other medical devices used by physicians in minimally invasive and open-heart procedures.

Founded in 1958 by Miles Lowell Edwards, the company is headquartered in Irvine, California, and serves healthcare providers and patients internationally.

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