Edwards Lifesciences Co. (NYSE:EW) Position Trimmed by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. decreased its holdings in Edwards Lifesciences Co. (NYSE:EW) by 21.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 58,813 shares of the medical research company’s stock after selling 15,983 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Edwards Lifesciences were worth $5,620,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. DSM Capital Partners LLC purchased a new stake in Edwards Lifesciences in the 4th quarter worth approximately $28,000. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Edwards Lifesciences during the fourth quarter worth $34,000. Riverview Trust Co acquired a new stake in Edwards Lifesciences during the first quarter valued at $34,000. Pingora Partners LLC acquired a new stake in Edwards Lifesciences during the fourth quarter valued at $38,000. Finally, Burkett Financial Services LLC purchased a new position in Edwards Lifesciences in the fourth quarter valued at about $46,000. 79.46% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Michael A. Mussallem sold 29,350 shares of the firm’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $84.77, for a total transaction of $2,487,999.50. Following the completion of the transaction, the director now directly owns 4,486 shares of the company’s stock, valued at approximately $380,278.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Michael A. Mussallem sold 29,350 shares of the firm’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $84.77, for a total transaction of $2,487,999.50. Following the completion of the transaction, the director now owns 4,486 shares in the company, valued at approximately $380,278.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Scott B. Ullem sold 7,250 shares of the company’s stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $85.80, for a total value of $622,050.00. Following the completion of the sale, the chief financial officer now owns 19,074 shares in the company, valued at $1,636,549.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 81,099 shares of company stock worth $7,003,553. Company insiders own 1.29% of the company’s stock.

Analyst Ratings Changes

EW has been the subject of several research reports. Morgan Stanley lifted their price target on Edwards Lifesciences from $95.00 to $103.00 and gave the company an “overweight” rating in a report on Thursday, March 21st. Deutsche Bank Aktiengesellschaft raised shares of Edwards Lifesciences from a “hold” rating to a “buy” rating and boosted their target price for the stock from $86.00 to $103.00 in a research report on Tuesday, May 14th. Stifel Nicolaus raised their price target on shares of Edwards Lifesciences from $83.00 to $85.00 and gave the company a “hold” rating in a report on Friday, April 26th. OTR Global raised shares of Edwards Lifesciences from a “mixed” rating to a “positive” rating in a research note on Tuesday, March 26th. Finally, Wells Fargo & Company increased their target price on shares of Edwards Lifesciences from $94.00 to $99.00 and gave the stock an “overweight” rating in a research report on Friday, April 26th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $95.24.

Edwards Lifesciences Stock Performance

NYSE:EW traded down $1.86 during trading hours on Friday, hitting $90.99. 3,427,098 shares of the company traded hands, compared to its average volume of 3,398,455. The company has a current ratio of 3.75, a quick ratio of 2.67 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $54.83 billion, a price-to-earnings ratio of 40.02, a P/E/G ratio of 3.43 and a beta of 1.11. The firm has a 50-day moving average of $88.86 and a 200 day moving average of $86.26. Edwards Lifesciences Co. has a twelve month low of $60.57 and a twelve month high of $96.12.

Edwards Lifesciences (NYSE:EW) last released its earnings results on Thursday, April 25th. The medical research company reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.02. Edwards Lifesciences had a net margin of 23.01% and a return on equity of 22.86%. The business had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.58 billion. On average, analysts forecast that Edwards Lifesciences Co. will post 2.77 EPS for the current year.

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.