Edwards Lifesciences Corporation $EW Stock Position Lowered by Russell Investments Group Ltd.

Russell Investments Group Ltd. trimmed its holdings in shares of Edwards Lifesciences Corporation (NYSE:EW) by 8.5% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 2,094,238 shares of the medical research company’s stock after selling 194,507 shares during the period. Russell Investments Group Ltd.’s holdings in Edwards Lifesciences were worth $180,905,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in EW. Pin Oak Investment Advisors Inc. purchased a new stake in Edwards Lifesciences in the 2nd quarter worth $26,000. TrinityBridge Ltd acquired a new stake in shares of Edwards Lifesciences in the second quarter valued at about $27,000. GK Wealth Management LLC purchased a new stake in shares of Edwards Lifesciences during the third quarter worth about $26,000. RMG Wealth Management LLC purchased a new stake in shares of Edwards Lifesciences during the first quarter worth about $26,000. Finally, Compass Financial Management LLC acquired a new position in shares of Edwards Lifesciences during the 2nd quarter worth about $32,000. Hedge funds and other institutional investors own 79.46% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on EW shares. Wall Street Zen upgraded Edwards Lifesciences from a “hold” rating to a “buy” rating in a report on Sunday, November 8th. Mizuho set a $120.00 price target on Edwards Lifesciences in a research report on Thursday, November 5th. Deutsche Bank set a $104.00 price objective on Edwards Lifesciences in a research note on Tuesday, October 27th. Argus boosted their price target on shares of Edwards Lifesciences from $105.00 to $115.00 and gave the stock a “buy” rating in a research report on Friday, August 21st. Finally, JPMorgan Chase & Co. upped their target price on Edwards Lifesciences from $105.00 to $120.00 and gave the company an “overweight” rating in a report on Thursday, November 5th. Twenty-three equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $109.56.

Edwards Lifesciences Trading Down 0.0%

NYSE EW opened at $105.79 on Friday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 3.86 and a current ratio of 4.60. The firm has a market cap of $60.83 billion, a price-to-earnings ratio of 59.77, a PEG ratio of 2.82 and a beta of 0.85. The firm has a 50 day simple moving average of $90.07 and a 200-day simple moving average of $86.20. Edwards Lifesciences Corporation has a one year low of $74.66 and a one year high of $106.80.

Edwards Lifesciences (NYSE:EW) last announced its quarterly earnings data on Wednesday, November 4th. The medical research company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.06. Edwards Lifesciences had a return on equity of 16.06% and a net margin of 15.30%. The business had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.68 billion. During the same period last year, the firm earned $0.67 earnings per share. The company’s revenue for the quarter was up 10.5% compared to the same quarter last year. Equities research analysts anticipate that Edwards Lifesciences Corporation will post 3.01 EPS for the current fiscal year.

Insider Buying and Selling

In other news, VP Annette Brüls sold 2,644 shares of the firm’s stock in a transaction on Friday, August 28th. The shares were sold at an average price of $89.98, for a total value of $237,907.12. Following the sale, the vice president directly owned 17,984 shares in the company, valued at approximately $1,618,200.32. This trade represents a 12.82% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Donald E. Bobo, Jr. sold 48,900 shares of Edwards Lifesciences stock in a transaction on Monday, November 9th. The stock was sold at an average price of $103.05, for a total transaction of $5,039,145.00. Following the sale, the vice president directly owned 22,798 shares of the company’s stock, valued at approximately $2,349,333.90. This trade represents a 68.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 53,945 shares of company stock valued at $5,498,306. Corporate 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.