Phoenix Financial Ltd. Cuts Holdings in Edwards Lifesciences Corporation (NYSE:EW)

Key Points

• Phoenix Financial Ltd. significantly reduced its stake in Edwards Lifesciences Corporation by 93.1%, from 44,309 shares to 3,065 shares, resulting in an approximate value of $222,000.
• Edwards Lifesciences reported a quarterly earnings of $0.67 EPS, exceeding analysts' estimates, with revenue rising to $1.53 billion, an increase of 11.9% year-over-year.
• Multiple research firms have revised their price targets for Edwards Lifesciences, with Wells Fargo raising it from $80.00 to $84.00, indicating a positive outlook on the stock.

Phoenix Financial Ltd. cut its holdings in Edwards Lifesciences Corporation (NYSE:EW - Free Report) by 93.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,065 shares of the medical research company's stock after selling 41,244 shares during the quarter. Phoenix Financial Ltd.'s holdings in Edwards Lifesciences were worth $222,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Equitable Trust Co. lifted its holdings in shares of Edwards Lifesciences by 3.1% during the 1st quarter. Equitable Trust Co. now owns 75,273 shares of the medical research company's stock valued at $5,456,000 after buying an additional 2,231 shares during the period. Caliber Wealth Management LLC KS bought a new position in shares of Edwards Lifesciences during the 1st quarter valued at $1,696,000. Avantax Advisory Services Inc. lifted its holdings in shares of Edwards Lifesciences by 10.7% during the 1st quarter. Avantax Advisory Services Inc. now owns 10,707 shares of the medical research company's stock valued at $776,000 after buying an additional 1,032 shares during the period. One Wealth Advisors LLC lifted its holdings in shares of Edwards Lifesciences by 54.2% during the 1st quarter. One Wealth Advisors LLC now owns 18,304 shares of the medical research company's stock valued at $1,327,000 after buying an additional 6,431 shares during the period. Finally, AE Wealth Management LLC lifted its holdings in shares of Edwards Lifesciences by 18.8% during the 1st quarter. AE Wealth Management LLC now owns 90,502 shares of the medical research company's stock valued at $6,560,000 after buying an additional 14,334 shares during the period. 79.46% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on EW. 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. Barclays increased their price target on Edwards Lifesciences from $90.00 to $95.00 and gave the company an "overweight" rating in a report on Friday, July 25th. Truist Financial increased their price target on Edwards Lifesciences from $81.00 to $82.00 and gave the company a "hold" rating in a report on Friday, July 25th. JPMorgan Chase & Co. increased their price target on Edwards Lifesciences from $80.00 to $85.00 and gave the company a "neutral" rating in a report on Friday, July 25th. Finally, Argus upgraded Edwards Lifesciences to a "strong-buy" rating in a research note on Thursday, July 10th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $85.71.

Edwards Lifesciences Trading Up 0.8%

NYSE EW traded up $0.61 during trading on Wednesday, hitting $81.08. The stock had a trading volume of 1,392,521 shares, compared to its average volume of 4,564,992. The company has a debt-to-equity ratio of 0.06, a quick ratio of 3.66 and a current ratio of 4.45. The stock has a market capitalization of $47.56 billion, a price-to-earnings ratio of 11.68, a P/E/G ratio of 3.81 and a beta of 1.11. Edwards Lifesciences Corporation has a one year low of $59.41 and a one year high of $83.00. The stock has a 50 day simple moving average of $76.63 and a 200 day simple moving average of $73.64.

Edwards Lifesciences (NYSE:EW - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The medical research company reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.05. The business had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.49 billion. Edwards Lifesciences had a net margin of 72.96% and a return on equity of 15.25%. The firm's quarterly revenue was up 11.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.70 earnings per share. Sell-side analysts predict that Edwards Lifesciences Corporation will post 2.45 earnings per share for the current year.

Insider Buying and Selling at Edwards Lifesciences

In other news, VP Donald E. Bobo, Jr. sold 2,570 shares of the firm's stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $77.40, for a total transaction of $198,918.00. Following the transaction, the vice president directly owned 50,356 shares of the company's stock, valued at approximately $3,897,554.40. This trade represents a 4.86% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Daniel J. Lippis sold 4,114 shares of the firm's stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $79.46, for a total transaction of $326,898.44. Following the transaction, the vice president directly owned 22,002 shares in the company, valued at approximately $1,748,278.92. This trade represents a 15.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 34,962 shares of company stock valued at $2,641,387. 0.34% of the stock is owned by corporate insiders.

Edwards Lifesciences 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.