First National Advisers LLC Has $2.31 Million Stake in Edwards Lifesciences Corporation (NYSE:EW)

Key Points

• First National Advisers LLC reduced its stock position in Edwards Lifesciences Corporation by 23.8%, ending the first quarter with 31,840 shares valued at approximately $2.3 million.
• Several hedge funds increased their stakes in Edwards Lifesciences, including Prosperity Consulting Group LLC and Arlington Trust Co LLC, reflecting a trend where 79.46% of the stock is owned by institutional investors.
• Edwards Lifesciences reported a quarterly earnings increase, with earnings per share of $0.67, surpassing estimates and showing a 11.9% revenue increase year-over-year.

First National Advisers LLC trimmed its position in Edwards Lifesciences Corporation (NYSE:EW - Free Report) by 23.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 31,840 shares of the medical research company's stock after selling 9,950 shares during the period. First National Advisers LLC's holdings in Edwards Lifesciences were worth $2,308,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC increased its stake in shares of Edwards Lifesciences by 0.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 30,195 shares of the medical research company's stock worth $2,170,000 after acquiring an additional 145 shares during the last quarter. Alyeska Investment Group L.P. acquired a new position in shares of Edwards Lifesciences in the fourth quarter worth $49,038,000. Dynamic Advisor Solutions LLC increased its stake in shares of Edwards Lifesciences by 2.4% in the first quarter. Dynamic Advisor Solutions LLC now owns 15,506 shares of the medical research company's stock worth $1,124,000 after acquiring an additional 370 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in shares of Edwards Lifesciences by 13.5% in 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 acquiring an additional 9,188 shares during the last quarter. Finally, Advanced Portfolio Management LLC acquired a new position in shares of Edwards Lifesciences in the fourth quarter worth $328,000. 79.46% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. The Goldman Sachs Group reiterated a "buy" rating on shares of Edwards Lifesciences in a report on Friday. Citigroup reiterated a "buy" rating and issued a $95.00 price objective (up from $84.00) on shares of Edwards Lifesciences in a report on Thursday, May 22nd. Stifel Nicolaus upped their price objective on shares of Edwards Lifesciences from $90.00 to $95.00 and gave the stock a "buy" rating in a report on Friday. Robert W. Baird upped their price objective on shares of Edwards Lifesciences from $78.00 to $79.00 and gave the stock a "neutral" rating in a report on Friday. Finally, Argus upgraded shares of Edwards Lifesciences to a "strong-buy" rating in a report on Thursday, July 10th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $85.00.

Edwards Lifesciences Stock Performance

Shares of NYSE EW traded down $1.54 during mid-day trading on Monday, hitting $78.46. The company had a trading volume of 6,024,534 shares, compared to its average volume of 4,283,557. The company has a debt-to-equity ratio of 0.06, a current ratio of 4.45 and a quick ratio of 3.66. The business's 50-day simple moving average is $76.58 and its 200-day simple moving average is $73.59. Edwards Lifesciences Corporation has a 12 month low of $59.41 and a 12 month high of $83.00. The firm has a market cap of $46.02 billion, a P/E ratio of 11.29, a PEG ratio of 4.00 and a beta of 1.11.

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

Insider Transactions at Edwards Lifesciences

In related news, VP Donald E. Bobo, Jr. sold 2,570 shares of the stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $77.40, for a total value of $198,918.00. Following the completion of the transaction, the vice president owned 50,356 shares of the company's stock, valued at $3,897,554.40. This represents a 4.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Scott B. Ullem sold 11,250 shares of the stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $74.40, for a total transaction of $837,000.00. Following the completion of the transaction, the chief financial officer directly owned 41,098 shares of the company's stock, valued at $3,057,691.20. This trade represents a 21.49% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 34,962 shares of company stock valued at $2,641,387. Corporate insiders own 0.34% of the company's stock.

Edwards Lifesciences Company 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.