Marble Harbor Investment Counsel LLC Has $4.55 Million Position in Edwards Lifesciences Corporation (NYSE:EW)

Key Points

• Marble Harbor Investment Counsel LLC sold 5,647 shares of Edwards Lifesciences Corporation, reducing its holding by 8.3% to a total of 62,774 shares valued at approximately $4.55 million.
• Insider Larry L. Wood sold 8,950 shares of the company, indicative of a 4.15% decrease in his ownership, while overall, insiders sold 34,962 shares worth $2.64 million in the past 90 days.
• Several analysts have raised their price targets for Edwards Lifesciences, with Deutsche Bank increasing its target from $85.00 to $94.00, indicating strong market confidence in the company's future growth.

Marble Harbor Investment Counsel LLC lowered its position in shares of Edwards Lifesciences Corporation (NYSE:EW - Free Report) by 8.3% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 62,774 shares of the medical research company's stock after selling 5,647 shares during the quarter. Marble Harbor Investment Counsel LLC's holdings in Edwards Lifesciences were worth $4,550,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Jennison Associates LLC increased its holdings in Edwards Lifesciences by 34.3% in the first quarter. Jennison Associates LLC now owns 10,086,033 shares of the medical research company's stock worth $731,036,000 after purchasing an additional 2,576,383 shares in the last quarter. Brown Advisory Inc. boosted its position in Edwards Lifesciences by 7.6% in the fourth quarter. Brown Advisory Inc. now owns 8,155,355 shares of the medical research company's stock worth $603,741,000 after purchasing an additional 575,699 shares during the last quarter. Deutsche Bank AG lifted its position in shares of Edwards Lifesciences by 10.4% during the 4th quarter. Deutsche Bank AG now owns 6,903,202 shares of the medical research company's stock valued at $511,044,000 after buying an additional 652,923 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Edwards Lifesciences by 8.5% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,519,257 shares of the medical research company's stock valued at $482,621,000 after buying an additional 513,468 shares during the last quarter. Finally, Northern Trust Corp lifted its position in shares of Edwards Lifesciences by 21.8% during the 4th quarter. Northern Trust Corp now owns 6,505,227 shares of the medical research company's stock valued at $481,582,000 after buying an additional 1,165,845 shares during the last quarter. Institutional investors own 79.46% of the company's stock.

Edwards Lifesciences Price Performance

Edwards Lifesciences stock traded down $0.94 during mid-day trading on Tuesday, reaching $79.16. The company had a trading volume of 948,167 shares, compared to its average volume of 4,555,495. Edwards Lifesciences Corporation has a 1 year low of $60.34 and a 1 year high of $83.00. The stock's 50-day simple moving average is $77.01 and its 200-day simple moving average is $73.92. The company has a market capitalization of $46.43 billion, a P/E ratio of 11.39, a P/E/G ratio of 3.84 and a beta of 1.08. The company has a debt-to-equity ratio of 0.06, a current ratio of 4.45 and a quick ratio of 3.66.

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, topping the consensus estimate of $0.62 by $0.05. The company 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 company's revenue was up 11.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.70 EPS. On average, equities analysts predict that Edwards Lifesciences Corporation will post 2.45 EPS for the current year.

Insider Buying and Selling at Edwards Lifesciences

In related news, insider Larry L. Wood sold 8,950 shares of the business's 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 transaction, the insider owned 206,900 shares in the company, valued at approximately $15,565,087. The trade was a 4.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Daveen Chopra sold 1,500 shares of Edwards Lifesciences stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $75.08, for a total transaction of $112,620.00. Following the completion of the transaction, the vice president directly owned 33,496 shares in the company, valued at approximately $2,514,879.68. The trade was a 4.29% decrease in their position. The disclosure for this sale can be found here. Insiders sold 28,982 shares of company stock worth $2,193,425 in the last quarter. 0.34% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on EW. JPMorgan Chase & Co. boosted their price objective on Edwards Lifesciences from $80.00 to $85.00 and gave the company a "neutral" rating in a research note on Friday, July 25th. Dbs Bank raised Edwards Lifesciences to a "hold" rating in a report on Monday, June 2nd. Morgan Stanley raised their price target on Edwards Lifesciences from $75.00 to $81.00 and gave the company an "equal weight" rating in a report on Tuesday, July 15th. Argus raised Edwards Lifesciences to a "strong-buy" rating in a report on Thursday, July 10th. Finally, Robert W. Baird raised their price objective on Edwards Lifesciences from $78.00 to $79.00 and gave the company a "neutral" rating in a report on Friday, July 25th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, thirteen have given a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, Edwards Lifesciences currently has an average rating of "Moderate Buy" and an average target price of $85.71.

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.