Wedgewood Partners Inc. Sells 19,821 Shares of Edwards Lifesciences Co. (NYSE:EW)

Wedgewood Partners Inc. reduced its holdings in Edwards Lifesciences Co. (NYSE:EW - Free Report) by 5.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 339,436 shares of the medical research company's stock after selling 19,821 shares during the quarter. Edwards Lifesciences makes up 4.9% of Wedgewood Partners Inc.'s portfolio, making the stock its 13th biggest holding. Wedgewood Partners Inc. owned approximately 0.06% of Edwards Lifesciences worth $25,128,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in EW. Crowley Wealth Management Inc. acquired a new position in Edwards Lifesciences in the fourth quarter valued at $26,000. Millstone Evans Group LLC purchased a new stake in Edwards Lifesciences during the fourth quarter valued at about $29,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Edwards Lifesciences during the fourth quarter valued at about $30,000. Catalyst Capital Advisors LLC purchased a new stake in Edwards Lifesciences during the fourth quarter valued at about $54,000. Finally, SBI Securities Co. Ltd. purchased a new stake in Edwards Lifesciences during the fourth quarter valued at about $62,000. 79.46% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have issued reports on EW. Truist Financial lowered their price target on Edwards Lifesciences from $78.00 to $75.00 and set a "hold" rating for the company in a research report on Friday, April 11th. Wolfe Research downgraded Edwards Lifesciences from a "hold" rating to a "strong sell" rating in a report on Wednesday, February 12th. Canaccord Genuity Group increased their price target on Edwards Lifesciences from $71.00 to $75.00 and gave the company a "hold" rating in a report on Friday, April 25th. Evercore ISI reduced their price target on Edwards Lifesciences from $75.00 to $73.00 and set an "in-line" rating for the company in a report on Wednesday, February 12th. Finally, Wall Street Zen downgraded Edwards Lifesciences from a "buy" rating to a "hold" rating in a report on Friday, May 16th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $80.20.

Edwards Lifesciences Stock Performance

Shares of Edwards Lifesciences stock traded down $1.30 during mid-day trading on Thursday, hitting $74.80. 4,287,182 shares of the stock were exchanged, compared to its average volume of 5,134,487. Edwards Lifesciences Co. has a 12 month low of $58.93 and a 12 month high of $95.25. The company has a 50-day simple moving average of $72.60 and a 200 day simple moving average of $71.93. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.89 and a current ratio of 3.46. The company has a market capitalization of $43.88 billion, a P/E ratio of 10.73, a P/E/G ratio of 4.82 and a beta of 1.12.

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

Insider Buying and Selling at Edwards Lifesciences

In other Edwards Lifesciences news, CFO Scott B. Ullem sold 11,250 shares of the business's stock in a transaction on Friday, February 28th. The shares were sold at an average price of $70.78, for a total transaction of $796,275.00. Following the sale, the chief financial officer now owns 30,387 shares of the company's stock, valued at $2,150,791.86. The trade was a 27.02% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Daveen Chopra sold 1,500 shares of the business's stock in a transaction 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 transaction, the vice president now owns 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 disclosure for this sale can be found here. Insiders have sold 67,692 shares of company stock valued at $4,822,074 in the last 90 days. 1.29% of the stock is currently owned by company insiders.

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.