Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Sells 4,966 Shares of Edwards Lifesciences Corporation $EW

Key Points

• Loring Wolcott & Coolidge Fiduciary Advisors LLP MA sold 4,966 shares of Edwards Lifesciences Corporation, reducing its holdings by 11.9% during the second quarter, leaving the firm with 36,927 shares valued at approximately $2.89 million.
• Insider transactions saw VP Daniel J. Lippis and insider Larry L. Wood each sell shares, resulting in a 15.75% and 4.15% decrease in their respective positions.
• Edwards Lifesciences reported earnings of $0.67 per share for the last quarter, exceeding analysts' expectations and demonstrating an 11.9% year-over-year revenue growth with total revenue of $1.53 billion.

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA reduced its holdings in Edwards Lifesciences Corporation (NYSE:EW - Free Report) by 11.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 36,927 shares of the medical research company's stock after selling 4,966 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA's holdings in Edwards Lifesciences were worth $2,888,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Arlington Trust Co LLC grew its position in Edwards Lifesciences by 1.2% in the 1st quarter. Arlington Trust Co LLC now owns 11,092 shares of the medical research company's stock worth $804,000 after purchasing an additional 135 shares during the last quarter. Valeo Financial Advisors LLC raised its position in shares of Edwards Lifesciences by 2.8% during the first quarter. Valeo Financial Advisors LLC now owns 5,136 shares of the medical research company's stock valued at $372,000 after buying an additional 142 shares during the last quarter. Allspring Global Investments Holdings LLC lifted 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 valued at $2,170,000 after buying an additional 145 shares during the period. Dakota Wealth Management grew its position in Edwards Lifesciences by 2.5% during the second quarter. Dakota Wealth Management now owns 6,048 shares of the medical research company's stock worth $473,000 after buying an additional 146 shares in the last quarter. Finally, LRI Investments LLC grew its position in Edwards Lifesciences by 1.0% during the second quarter. LRI Investments LLC now owns 14,971 shares of the medical research company's stock worth $1,171,000 after buying an additional 147 shares in the last quarter. 79.46% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Edwards Lifesciences

In other news, VP Daniel J. Lippis sold 4,114 shares of the stock in a transaction on Monday, July 28th. The stock was sold at an average price of $79.46, for a total value of $326,898.44. Following the transaction, the vice president owned 22,002 shares of the company's stock, valued at $1,748,278.92. This represents a 15.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Larry L. Wood sold 8,950 shares of the firm's stock in a transaction on Monday, August 18th. The stock was sold at an average price of $78.06, for a total value of $698,637.00. Following the completion of the transaction, the insider owned 206,900 shares in the company, valued at $16,150,614. This represents a 4.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.29% of the company's stock.

Edwards Lifesciences Price Performance

EW opened at $76.73 on Thursday. The company's 50 day simple moving average is $77.44 and its 200-day simple moving average is $76.25. The stock has a market capitalization of $45.05 billion, a P/E ratio of 11.04, a price-to-earnings-growth ratio of 3.65 and a beta of 1.05. Edwards Lifesciences Corporation has a one year low of $64.89 and a one year high of $83.00. The company has a debt-to-equity ratio of 0.06, a current ratio of 4.68 and a quick ratio of 3.87.

Edwards Lifesciences (NYSE:EW - Get Free Report) last issued its earnings results on Thursday, July 24th. The medical research company reported $0.67 earnings per share (EPS) 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 15.01%. The company had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.49 billion. During the same quarter last year, the firm earned $0.70 EPS. The company's revenue for the quarter was up 11.9% on a year-over-year basis. Sell-side analysts anticipate that Edwards Lifesciences Corporation will post 2.45 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. William Blair upgraded Edwards Lifesciences to a "strong-buy" rating in a research report on Friday, July 25th. Truist Financial upped their target price on Edwards Lifesciences from $81.00 to $82.00 and gave the company a "hold" rating in a research note on Friday, July 25th. Mizuho lifted their price target on shares of Edwards Lifesciences from $87.00 to $95.00 and gave the stock an "outperform" rating in a research note on Friday, July 25th. Evercore ISI set a $88.00 price target on shares of Edwards Lifesciences and gave the company an "outperform" rating in a report on Tuesday, October 7th. Finally, Argus raised shares of Edwards Lifesciences to a "strong-buy" rating in a report on Thursday, July 10th. Three investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, Edwards Lifesciences currently has an average rating of "Moderate Buy" and an average price target of $87.06.

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.

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