Edwards Lifesciences Corporation (NYSE:EW) Shares Sold by First Merchants Corp

First Merchants Corp cut its position in Edwards Lifesciences Corporation (NYSE:EW - Free Report) by 70.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,040 shares of the medical research company's stock after selling 7,405 shares during the period. First Merchants Corp's holdings in Edwards Lifesciences were worth $220,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Alyeska Investment Group L.P. acquired a new stake in shares of Edwards Lifesciences in the fourth quarter worth approximately $49,038,000. Dynamic Advisor Solutions LLC boosted its stake in Edwards Lifesciences by 2.4% during the first quarter. Dynamic Advisor Solutions LLC now owns 15,506 shares of the medical research company's stock worth $1,124,000 after buying an additional 370 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in Edwards Lifesciences by 13.5% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 77,016 shares of the medical research company's stock worth $5,582,000 after buying an additional 9,188 shares during the last quarter. Simplify Asset Management Inc. acquired a new position in Edwards Lifesciences during the fourth quarter worth $5,979,000. Finally, Assetmark Inc. boosted its stake in Edwards Lifesciences by 786.9% during the fourth quarter. Assetmark Inc. now owns 1,082 shares of the medical research company's stock worth $80,000 after buying an additional 960 shares during the last quarter. 79.46% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have weighed in on EW shares. Dbs Bank raised Edwards Lifesciences to a "hold" rating in a research note on Monday, June 2nd. Wall Street Zen lowered Edwards Lifesciences from a "buy" rating to a "hold" rating in a research note on Friday, May 16th. 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 note on Friday, April 11th. Canaccord Genuity Group boosted their price objective on Edwards Lifesciences from $71.00 to $75.00 and gave the stock a "hold" rating in a research note on Friday, April 25th. Finally, Piper Sandler lifted their target price on Edwards Lifesciences from $80.00 to $83.00 and gave the company an "overweight" rating in a research report on Tuesday, May 13th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $80.20.

Edwards Lifesciences Trading Up 1.2%

NYSE:EW opened at $78.07 on Friday. The stock has a 50-day simple moving average of $75.62 and a 200-day simple moving average of $73.16. The stock has a market cap of $45.80 billion, a P/E ratio of 11.15, a P/E/G ratio of 3.89 and a beta of 1.12. Edwards Lifesciences Corporation has a 1 year low of $58.93 and a 1 year high of $95.25. The company has a debt-to-equity ratio of 0.06, a quick ratio of 3.66 and a current ratio of 4.45.

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 (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.04. The business had revenue of $1.41 billion during the quarter, compared to analysts' expectations of $1.40 billion. Edwards Lifesciences had a return on equity of 16.62% and a net margin of 75.48%. The business's quarterly revenue was up 6.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.66 EPS. As a group, analysts anticipate that Edwards Lifesciences Corporation will post 2.45 earnings per share for the current fiscal year.

Insider Transactions at Edwards Lifesciences

In related news, CEO Bernard J. Zovighian sold 5,980 shares of the company's stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $74.91, for a total value of $447,961.80. Following the completion of the sale, the chief executive officer now directly owns 58,284 shares of the company's stock, valued at $4,366,054.44. This represents a 9.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Donald E. Bobo, Jr. sold 9,500 shares of the company's stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $69.81, for a total value of $663,195.00. Following the completion of the sale, the vice president now directly owns 47,206 shares of the company's stock, valued at approximately $3,295,450.86. This trade represents a 16.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 40,648 shares of company stock valued at $2,998,866. 1.29% of the stock is currently owned by corporate 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.

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