SeaCrest Wealth Management LLC Lowers Position in Edwards Lifesciences Co. (NYSE:EW)

SeaCrest Wealth Management LLC lowered its stake in Edwards Lifesciences Co. (NYSE:EW) by 6.7% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,131 shares of the medical research company’s stock after selling 295 shares during the quarter. SeaCrest Wealth Management LLC’s holdings in Edwards Lifesciences were worth $382,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Harel Insurance Investments & Financial Services Ltd. boosted its stake in Edwards Lifesciences by 26.5% in the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 3,784 shares of the medical research company’s stock worth $350,000 after purchasing an additional 792 shares during the period. Raymond James Financial Services Advisors Inc. boosted its position in shares of Edwards Lifesciences by 0.9% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 1,154,757 shares of the medical research company’s stock worth $106,665,000 after acquiring an additional 10,176 shares during the last quarter. Chesley Taft & Associates LLC grew its stake in Edwards Lifesciences by 3.6% during the second quarter. Chesley Taft & Associates LLC now owns 31,656 shares of the medical research company’s stock valued at $2,924,000 after acquiring an additional 1,105 shares in the last quarter. Sarasin & Partners LLP increased its holdings in Edwards Lifesciences by 1.4% in the 2nd quarter. Sarasin & Partners LLP now owns 219,490 shares of the medical research company’s stock valued at $20,274,000 after acquiring an additional 3,104 shares during the last quarter. Finally, Williams Financial LLC purchased a new stake in Edwards Lifesciences in the 2nd quarter worth $201,000. 79.46% of the stock is owned by hedge funds and other institutional investors.

Edwards Lifesciences Trading Down 0.1 %

Shares of EW stock traded down $0.08 on Wednesday, hitting $69.30. 888,642 shares of the stock traded hands, compared to its average volume of 4,063,337. Edwards Lifesciences Co. has a twelve month low of $58.93 and a twelve month high of $96.12. The stock has a market capitalization of $41.76 billion, a PE ratio of 29.99, a PEG ratio of 2.57 and a beta of 1.11. The firm’s 50-day moving average price is $80.05 and its two-hundred day moving average price is $85.70. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.87 and a current ratio of 3.71.

Edwards Lifesciences (NYSE:EW) last posted its earnings results on Wednesday, July 24th. The medical research company reported $0.70 earnings per share for the quarter, beating 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 the consensus estimate of $1.65 billion. During the same quarter last year, the firm earned $0.66 EPS. The firm’s revenue for the quarter was up 6.7% on a year-over-year basis. As a group, analysts anticipate that Edwards Lifesciences Co. will post 2.71 EPS for the current year.

Insider Activity

In other news, CEO Bernard J. Zovighian sold 8,617 shares of the firm’s stock in a transaction 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 sale, the chief executive officer now directly owns 68,218 shares in the company, valued at approximately $5,981,354.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, VP Daveen Chopra sold 1,250 shares of Edwards Lifesciences stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $69.95, for a total transaction of $87,437.50. Following the sale, the vice president now directly owns 29,333 shares in the company, valued at approximately $2,051,843.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Bernard J. Zovighian sold 8,617 shares of the company’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $87.68, for a total transaction 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 approximately $5,981,354.24. The disclosure for this sale can be found here. In the last quarter, insiders sold 24,867 shares of company stock worth $2,077,526. 1.29% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on EW shares. Deutsche Bank Aktiengesellschaft decreased their price target on Edwards Lifesciences from $103.00 to $85.00 and set a “buy” rating for the company in a research note on Thursday, July 25th. Daiwa America upgraded Edwards Lifesciences to a “strong-buy” rating in a research note on Wednesday, July 31st. Barclays decreased their price objective on Edwards Lifesciences from $101.00 to $90.00 and set an “overweight” rating for the company in a report on Friday, July 26th. Piper Sandler dropped their target price on shares of Edwards Lifesciences from $88.00 to $73.00 and set a “neutral” rating on the stock in a report on Thursday, July 25th. Finally, The Goldman Sachs Group cut their target price on shares of Edwards Lifesciences from $107.00 to $91.00 and set a “buy” rating on the stock in a research report on Friday, July 26th. Fourteen analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Edwards Lifesciences currently has an average rating of “Moderate Buy” and an average target price of $82.10.

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.