Stonebrook Private Inc. Sells 4,523 Shares of Edwards Lifesciences Corporation (NYSE:EW)

Stonebrook Private Inc. trimmed its holdings in shares of Edwards Lifesciences Corporation (NYSE:EW - Free Report) by 48.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,731 shares of the medical research company's stock after selling 4,523 shares during the quarter. Stonebrook Private Inc.'s holdings in Edwards Lifesciences were worth $343,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Crowley Wealth Management Inc. acquired a new position in Edwards Lifesciences during the fourth quarter worth approximately $26,000. Vega Investment Solutions acquired a new position in Edwards Lifesciences during the fourth quarter worth $27,000. Rossby Financial LCC acquired a new position in Edwards Lifesciences during the first quarter worth $29,000. Millstone Evans Group LLC acquired a new stake in Edwards Lifesciences in the fourth quarter valued at $29,000. Finally, Global X Japan Co. Ltd. grew its holdings in Edwards Lifesciences by 116.1% in the first quarter. Global X Japan Co. Ltd. now owns 402 shares of the medical research company's stock valued at $29,000 after purchasing an additional 216 shares during the last quarter. 79.46% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

EW has been the topic of several recent research reports. Canaccord Genuity Group upped their price objective on Edwards Lifesciences from $71.00 to $75.00 and gave the company a "hold" rating in a research report on Friday, April 25th. Wall Street Zen downgraded Edwards Lifesciences from a "buy" rating to a "hold" rating in a research report on Friday, May 16th. Citigroup restated a "buy" rating and issued a $95.00 price objective (up from $84.00) on shares of Edwards Lifesciences in a research report on Thursday, May 22nd. Robert W. Baird increased their target price on Edwards Lifesciences from $72.00 to $75.00 and gave the stock a "neutral" rating in a research report on Thursday, April 24th. Finally, Piper Sandler increased their target price on Edwards Lifesciences from $80.00 to $83.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 13th. One 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 data from MarketBeat, Edwards Lifesciences currently has an average rating of "Hold" and an average price target of $80.40.

Insider Transactions at Edwards Lifesciences

In other news, VP Donald E. Bobo, Jr. sold 9,500 shares of the stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $69.81, for a total value of $663,195.00. Following the completion of the transaction, the vice president directly owned 47,206 shares of the company's stock, valued at approximately $3,295,450.86. This represents a 16.75% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Larry L. Wood sold 8,950 shares of the stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $75.23, for a total value of $673,308.50. Following the completion of the transaction, the insider directly owned 206,900 shares of the company's stock, valued at approximately $15,565,087. The trade was a 4.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 40,348 shares of company stock worth $2,977,683. 1.29% of the stock is currently owned by company insiders.

Edwards Lifesciences Stock Down 0.8%

NYSE EW traded down $0.60 on Friday, reaching $78.20. The stock had a trading volume of 1,835,858 shares, compared to its average volume of 5,240,612. The company has a market capitalization of $45.87 billion, a price-to-earnings ratio of 11.18, a P/E/G ratio of 3.88 and a beta of 1.11. The business has a 50 day moving average price of $76.25 and a 200 day moving average price of $73.36. Edwards Lifesciences Corporation has a 1 year low of $58.93 and a 1 year high of $95.25. The company has a current ratio of 4.45, a quick ratio of 3.66 and a debt-to-equity ratio of 0.06.

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

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.