Deutsche Bank AG Trims Holdings in Edwards Lifesciences Corporation (NYSE:EW)

Key Points

• Deutsche Bank AG has reduced its stake in Edwards Lifesciences by 1.8%, now holding approximately 1.15% of the company, worth around $491 million.
• Analysts have increased their price targets for Edwards Lifesciences, with Deutsche Bank setting it at $94, and Citigroup at $95, reflecting a strong outlook for the company's stock.
• Edwards Lifesciences reported $0.67 earnings per share for the last quarter, exceeding estimates by $0.05, along with a revenue increase of 11.9% year-over-year.

Deutsche Bank AG trimmed its position in shares of Edwards Lifesciences Corporation (NYSE:EW - Free Report) by 1.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,780,128 shares of the medical research company's stock after selling 123,074 shares during the period. Deutsche Bank AG owned about 1.15% of Edwards Lifesciences worth $491,424,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in EW. Brighton Jones LLC bought a new position in shares of Edwards Lifesciences during the 4th quarter worth approximately $266,000. Bank Pictet & Cie Europe AG raised its stake in shares of Edwards Lifesciences by 16.7% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 10,231 shares of the medical research company's stock worth $757,000 after acquiring an additional 1,463 shares in the last quarter. Wells Fargo & Company MN raised its stake in shares of Edwards Lifesciences by 10.6% during the 4th quarter. Wells Fargo & Company MN now owns 844,023 shares of the medical research company's stock worth $62,483,000 after acquiring an additional 81,144 shares in the last quarter. FMR LLC raised its stake in shares of Edwards Lifesciences by 31.3% during the 4th quarter. FMR LLC now owns 2,428,743 shares of the medical research company's stock worth $179,800,000 after acquiring an additional 579,541 shares in the last quarter. Finally, Cerity Partners LLC raised its stake in shares of Edwards Lifesciences by 3.3% during the 4th quarter. Cerity Partners LLC now owns 126,834 shares of the medical research company's stock worth $9,207,000 after acquiring an additional 4,012 shares in the last quarter. 79.46% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

EW has been the topic of a number of recent analyst reports. The Goldman Sachs Group restated a "buy" rating on shares of Edwards Lifesciences in a research note on Friday, July 25th. Canaccord Genuity Group increased their price target on shares of Edwards Lifesciences from $75.00 to $81.00 and gave the stock a "hold" rating in a report on Friday, July 25th. Citigroup reaffirmed a "buy" rating and set a $95.00 price objective (up from $84.00) on shares of Edwards Lifesciences in a report on Thursday, May 22nd. Robert W. Baird raised their price target on shares of Edwards Lifesciences from $78.00 to $79.00 and gave the stock a "neutral" rating in a research note on Friday, July 25th. Finally, Evercore ISI raised their price objective on shares of Edwards Lifesciences from $77.00 to $80.00 and gave the stock an "in-line" rating in a research report on Friday, July 25th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, thirteen have issued a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $85.90.

Edwards Lifesciences Stock Performance

Shares of Edwards Lifesciences stock traded down $0.18 during trading on Monday, reaching $78.18. The company's stock had a trading volume of 856,045 shares, compared to its average volume of 4,527,417. The company has a current ratio of 4.68, a quick ratio of 3.87 and a debt-to-equity ratio of 0.06. The firm has a market cap of $45.90 billion, a PE ratio of 11.25, a P/E/G ratio of 3.78 and a beta of 1.08. The company has a 50-day moving average price of $77.12 and a two-hundred day moving average price of $74.18. Edwards Lifesciences Corporation has a fifty-two week low of $64.00 and a fifty-two week high of $83.00.

Edwards Lifesciences (NYSE:EW - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The medical research company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.62 by $0.05. Edwards Lifesciences had a net margin of 72.96% and a return on equity of 15.01%. The business had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.49 billion. During the same period in the previous year, the firm earned $0.70 EPS. The business's revenue for the quarter was up 11.9% compared to the same quarter last year. On average, analysts forecast that Edwards Lifesciences Corporation will post 2.45 EPS for the current year.

Insider Activity at Edwards Lifesciences

In other Edwards Lifesciences news, VP Daveen Chopra sold 1,500 shares of the stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $75.08, for a total value of $112,620.00. Following the completion of the sale, the vice president owned 33,496 shares of the company's stock, valued at $2,514,879.68. This trade represents a 4.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 shares were sold at an average price of $75.23, for a total transaction of $673,308.50. Following the completion of the sale, the insider directly owned 206,900 shares of the company's stock, valued at $15,565,087. This trade represents a 4.15% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 17,134 shares of company stock worth $1,311,745. 0.34% of the stock is owned by 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.