Tobam Sells 15,557 Shares of Edwards Lifesciences Co. (NYSE:EW)

Tobam lowered its holdings in Edwards Lifesciences Co. (NYSE:EW - Free Report) by 26.2% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 43,737 shares of the medical research company's stock after selling 15,557 shares during the quarter. Edwards Lifesciences makes up about 1.4% of Tobam's investment portfolio, making the stock its 22nd largest holding. Tobam's holdings in Edwards Lifesciences were worth $3,170,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Brighton Jones LLC bought a new stake in Edwards Lifesciences during the fourth quarter worth about $266,000. Empowered Funds LLC grew its stake in shares of Edwards Lifesciences by 6.2% in the 4th quarter. Empowered Funds LLC now owns 25,533 shares of the medical research company's stock worth $1,890,000 after buying an additional 1,501 shares during the last quarter. Focus Financial Network Inc. bought a new position in Edwards Lifesciences during the 4th quarter valued at approximately $206,000. Certuity LLC purchased a new position in Edwards Lifesciences during the fourth quarter valued at $232,000. Finally, Van ECK Associates Corp boosted its holdings in Edwards Lifesciences by 35.0% in the fourth quarter. Van ECK Associates Corp now owns 171,102 shares of the medical research company's stock worth $12,666,000 after acquiring an additional 44,338 shares in the last quarter. 79.46% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on EW shares. Wall Street Zen lowered Edwards Lifesciences from a "buy" rating to a "hold" rating in a research report on Friday, May 16th. Dbs Bank upgraded shares of Edwards Lifesciences to a "hold" rating in a research note on Monday, June 2nd. Canaccord Genuity Group raised their price target on shares of Edwards Lifesciences from $71.00 to $75.00 and gave the company a "hold" rating in a research report on Friday, April 25th. Piper Sandler increased their target price on Edwards Lifesciences from $80.00 to $83.00 and gave the company an "overweight" rating in a research note on Tuesday, May 13th. Finally, Robert W. Baird boosted their price target on Edwards Lifesciences from $72.00 to $75.00 and gave the stock a "neutral" rating in a research note on Thursday, April 24th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating and eleven have issued a buy rating to the company's stock. According to data from MarketBeat, Edwards Lifesciences has an average rating of "Hold" and a consensus target price of $80.20.

Insider Buying and Selling at Edwards Lifesciences

In other news, CEO Bernard J. Zovighian sold 5,980 shares of the stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $74.91, for a total transaction of $447,961.80. Following the completion of the transaction, the chief executive officer now directly owns 58,284 shares in the company, valued at approximately $4,366,054.44. This represents a 9.31% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Donald E. Bobo, Jr. sold 2,570 shares of Edwards Lifesciences stock in a transaction dated Monday, June 2nd. The stock was 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 now owns 50,356 shares of the company's stock, valued at approximately $3,897,554.40. This represents a 4.86% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 42,948 shares of company stock worth $3,122,845. Insiders own 1.29% of the company's stock.

Edwards Lifesciences Price Performance

Shares of EW traded down $0.35 during mid-day trading on Monday, reaching $74.80. The stock had a trading volume of 2,860,328 shares, compared to its average volume of 5,231,911. The firm has a market cap of $43.88 billion, a price-to-earnings ratio of 10.73, a PEG ratio of 4.82 and a beta of 1.12. Edwards Lifesciences Co. has a 12 month low of $58.93 and a 12 month high of $95.25. The business has a fifty day moving average of $74.54 and a 200 day moving average of $72.93. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.89 and a current ratio of 3.46.

Edwards Lifesciences (NYSE:EW - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The medical research company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.60 by $0.04. The business had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.40 billion. Edwards Lifesciences had a return on equity of 19.40% and a net margin of 72.93%. The business's revenue was up 6.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.66 earnings per share. Equities analysts predict that Edwards Lifesciences Co. will post 2.45 EPS for the current year.

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.