Bridges Investment Management Inc. Decreases Holdings in Edwards Lifesciences Corporation (NYSE:EW)

Bridges Investment Management Inc. reduced its holdings in shares of Edwards Lifesciences Corporation (NYSE:EW - Free Report) by 77.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,976 shares of the medical research company's stock after selling 10,384 shares during the period. Bridges Investment Management Inc.'s holdings in Edwards Lifesciences were worth $216,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Banque Pictet & Cie SA increased its stake in Edwards Lifesciences by 19.2% during the 1st quarter. Banque Pictet & Cie SA now owns 187,115 shares of the medical research company's stock valued at $13,562,000 after purchasing an additional 30,147 shares in the last quarter. Linden Thomas Advisory Services LLC lifted its holdings in shares of Edwards Lifesciences by 8.2% during the first quarter. Linden Thomas Advisory Services LLC now owns 11,214 shares of the medical research company's stock valued at $813,000 after purchasing an additional 849 shares in the last quarter. Greenleaf Trust increased its holdings in Edwards Lifesciences by 1.4% in the 1st quarter. Greenleaf Trust now owns 32,889 shares of the medical research company's stock worth $2,384,000 after buying an additional 444 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its stake in Edwards Lifesciences by 12.3% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 1,961,209 shares of the medical research company's stock valued at $137,624,000 after acquiring an additional 214,041 shares during the period. Finally, Valeo Financial Advisors LLC grew its stake in shares of Edwards Lifesciences by 2.8% in the first quarter. Valeo Financial Advisors LLC now owns 5,136 shares of the medical research company's stock worth $372,000 after acquiring an additional 142 shares during the period. Institutional investors own 79.46% of the company's stock.

Insider Activity

In other Edwards Lifesciences news, VP Daveen Chopra sold 1,500 shares of the firm's stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $75.08, for a total transaction of $112,620.00. Following the transaction, the vice president owned 33,496 shares of the company's stock, valued at approximately $2,514,879.68. This trade represents a 4.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Larry L. Wood sold 8,950 shares of the stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $75.23, for a total transaction of $673,308.50. Following the transaction, the insider owned 206,900 shares in the company, valued at approximately $15,565,087. This represents a 4.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 30,848 shares of company stock valued at $2,314,488. Company insiders own 0.34% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Robert W. Baird boosted their target price on shares of Edwards Lifesciences from $72.00 to $75.00 and gave the company a "neutral" rating in a research note on Thursday, April 24th. Truist Financial cut 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 report on Friday, April 11th. Evercore ISI raised their price objective on Edwards Lifesciences from $73.00 to $77.00 and gave the stock an "in-line" rating in a research note on Tuesday, July 8th. Wall Street Zen downgraded shares of Edwards Lifesciences from a "buy" rating to a "hold" rating in a report on Friday, May 16th. Finally, Dbs Bank raised shares of Edwards Lifesciences to a "hold" rating in a report on Monday, June 2nd. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and eleven have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $80.40.

Edwards Lifesciences Trading Up 0.4%

Shares of EW stock traded up $0.30 on Monday, reaching $78.35. 4,813,177 shares of the company's stock were exchanged, compared to its average volume of 5,262,260. The company has a current ratio of 4.45, a quick ratio of 3.66 and a debt-to-equity ratio of 0.06. The company's fifty day simple moving average is $76.30 and its 200 day simple moving average is $73.35. Edwards Lifesciences Corporation has a 52 week low of $58.93 and a 52 week high of $91.49. The stock has a market capitalization of $45.96 billion, a PE ratio of 11.19, a P/E/G ratio of 3.92 and a beta of 1.11.

Edwards Lifesciences (NYSE:EW - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The medical research company reported $0.64 earnings per share for the quarter, beating analysts' consensus estimates of $0.60 by $0.04. The company had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.40 billion. Edwards Lifesciences had a net margin of 75.48% and a return on equity of 16.62%. The firm's revenue for the quarter was up 6.2% on a year-over-year basis. During the same quarter last year, the business posted $0.66 EPS. As a group, analysts forecast that Edwards Lifesciences Corporation will post 2.45 EPS 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.