Edwards Lifesciences Corporation $EW Stock Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA trimmed its position in shares of Edwards Lifesciences Corporation (NYSE:EW) by 2.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 322,228 shares of the medical research company’s stock after selling 8,643 shares during the period. Pictet Asset Management Holding SA owned about 0.06% of Edwards Lifesciences worth $27,815,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in EW. BlackRock Inc. bought a new stake in shares of Edwards Lifesciences during the 2nd quarter worth approximately $5,318,092,000. Varma Mutual Pension Insurance Co purchased a new position in Edwards Lifesciences during the 2nd quarter valued at $11,168,000. Assenagon Asset Management S.A. boosted its holdings in Edwards Lifesciences by 50.0% during the 3rd quarter. Assenagon Asset Management S.A. now owns 2,719,271 shares of the medical research company’s stock valued at $234,727,000 after acquiring an additional 906,345 shares during the period. Conway Capital Management Inc. bought a new position in Edwards Lifesciences in the 2nd quarter valued at $954,000. Finally, Commerce Bank bought a new position in Edwards Lifesciences in the 2nd quarter valued at $3,121,000. 79.46% of the stock is currently owned by institutional investors.

Edwards Lifesciences Stock Performance

Edwards Lifesciences stock opened at $105.98 on Thursday. The company has a 50 day moving average price of $89.77 and a 200-day moving average price of $86.09. The company has a debt-to-equity ratio of 0.05, a quick ratio of 3.86 and a current ratio of 4.60. Edwards Lifesciences Corporation has a fifty-two week low of $74.66 and a fifty-two week high of $106.05. The company has a market capitalization of $60.94 billion, a PE ratio of 35.38, a P/E/G ratio of 2.78 and a beta of 0.85.

Edwards Lifesciences (NYSE:EW) last announced its quarterly earnings results on Wednesday, November 4th. The medical research company reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.06. Edwards Lifesciences had a return on equity of 16.06% and a net margin of 15.30%. The firm had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.68 billion. During the same quarter in the previous year, the business earned $0.67 earnings per share. Edwards Lifesciences’s quarterly revenue was up 10.5% on a year-over-year basis. As a group, equities analysts forecast that Edwards Lifesciences Corporation will post 3.01 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have weighed in on the company. JPMorgan Chase & Co. increased their target price on Edwards Lifesciences from $105.00 to $120.00 and gave the stock an “overweight” rating in a research note on Thursday, November 5th. Sanford C. Bernstein boosted their target price on shares of Edwards Lifesciences from $99.00 to $106.00 and gave the company a “market perform” rating in a research note on Thursday, November 5th. Jefferies Financial Group boosted their target price on shares of Edwards Lifesciences from $102.00 to $105.00 and gave the company a “buy” rating in a research note on Friday, July 24th. Weiss Ratings upgraded shares of Edwards Lifesciences from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday. Finally, BTIG Research upped their price target on shares of Edwards Lifesciences from $110.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, November 5th. Twenty-three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $109.56.

Insider Transactions at Edwards Lifesciences

In other Edwards Lifesciences news, VP Donald Bobo, Jr sold 48,900 shares of the company’s stock in a transaction on Monday, November 9th. The stock was sold at an average price of $103.05, for a total value of $5,039,145.00. Following the completion of the sale, the vice president directly owned 22,798 shares in the company, valued at approximately $2,349,333.90. This represents a 68.20% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Andrew M. Dahl sold 544 shares of the company’s stock in a transaction on Monday, August 31st. The stock was sold at an average price of $91.06, for a total value of $49,536.64. Following the completion of the sale, the senior vice president owned 14,868 shares of the company’s stock, valued at $1,353,880.08. This represents a 3.53% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 53,945 shares of company stock valued at $5,498,306. Company insiders own 0.31% of the company’s stock.

Edwards Lifesciences Profile

Edwards Lifesciences is a medical technology company focused on therapies for structural heart disease and critical care. Its products include transcatheter and surgical heart valves, as well as technologies used to monitor patients during intensive care and surgery. The company traces its origins to 1958, when engineer Lowell Edwards and surgeon Albert Starr began developing an artificial heart valve. Their work led to the Starr-Edwards valve, introduced in 1960. Edwards Lifesciences is headquartered in Irvine, California, and serves clinicians and patients around the world.