CHICAGO TRUST Co NA Trims Holdings in Edwards Lifesciences Co. (NYSE:EW)

CHICAGO TRUST Co NA lowered its stake in shares of Edwards Lifesciences Co. (NYSE:EW) by 8.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,849 shares of the medical research company’s stock after selling 457 shares during the period. CHICAGO TRUST Co NA’s holdings in Edwards Lifesciences were worth $448,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. DSM Capital Partners LLC purchased a new position in Edwards Lifesciences in the fourth quarter worth approximately $28,000. Crewe Advisors LLC purchased a new stake in shares of Edwards Lifesciences in the 1st quarter valued at approximately $28,000. Turtle Creek Wealth Advisors LLC acquired a new position in shares of Edwards Lifesciences in the 4th quarter worth approximately $34,000. Riverview Trust Co acquired a new position in Edwards Lifesciences during the first quarter worth $34,000. Finally, Pingora Partners LLC acquired a new stake in shares of Edwards Lifesciences in the fourth quarter valued at $38,000. 79.46% of the stock is currently owned by hedge funds and other institutional investors.

Edwards Lifesciences Price Performance

EW stock traded up $1.35 during trading on Friday, hitting $64.64. The stock had a trading volume of 5,985,117 shares, compared to its average volume of 4,027,077. The stock has a market cap of $38.95 billion, a price-to-earnings ratio of 27.86, a price-to-earnings-growth ratio of 2.57 and a beta of 1.11. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.87 and a current ratio of 3.71. The company’s 50 day moving average price is $82.82 and its two-hundred day moving average price is $85.99. Edwards Lifesciences Co. has a 1-year low of $58.93 and a 1-year high of $96.12.

Edwards Lifesciences (NYSE:EW) last released its earnings results on Wednesday, July 24th. The medical research company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.69 by $0.01. Edwards Lifesciences had a net margin of 24.55% and a return on equity of 22.35%. The firm had revenue of $1.63 billion during the quarter, compared to analysts’ expectations of $1.65 billion. During the same period in the previous year, the company earned $0.66 EPS. Edwards Lifesciences’s revenue for the quarter was up 6.7% on a year-over-year basis. On average, sell-side analysts forecast that Edwards Lifesciences Co. will post 2.71 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently weighed in on EW shares. Robert W. Baird downgraded shares of Edwards Lifesciences from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from $102.00 to $70.00 in a research report on Thursday, July 25th. Barclays reduced their target price on Edwards Lifesciences from $101.00 to $90.00 and set an “overweight” rating for the company in a report on Friday, July 26th. TD Cowen cut Edwards Lifesciences from a “buy” rating to a “hold” rating and decreased their target price for the company from $100.00 to $70.00 in a research report on Thursday, July 25th. Citigroup lifted their price target on Edwards Lifesciences from $105.00 to $106.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Finally, Piper Sandler decreased their price objective on Edwards Lifesciences from $88.00 to $73.00 and set a “neutral” rating for the company in a report on Thursday, July 25th. Fourteen research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $82.10.

Insider Activity at Edwards Lifesciences

In other Edwards Lifesciences news, CEO Bernard J. Zovighian sold 8,617 shares of the stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $87.68, for a total value of $755,538.56. Following the completion of the sale, the chief executive officer now owns 68,218 shares of the company’s stock, valued at $5,981,354.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Bernard J. Zovighian sold 8,617 shares of the stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $87.68, for a total value of $755,538.56. Following the completion of the transaction, the chief executive officer now owns 68,218 shares of the company’s stock, valued at $5,981,354.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Scott B. Ullem sold 5,625 shares of Edwards Lifesciences stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $90.45, for a total value of $508,781.25. Following the sale, the chief financial officer now owns 30,561 shares in the company, valued at $2,764,242.45. The disclosure for this sale can be found here. In the last three months, insiders sold 24,242 shares of company stock worth $2,168,470. Corporate insiders own 1.29% of the company’s stock.

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.