Journey Advisory Group LLC Lowers Stock Position in Edwards Lifesciences Co. (NYSE:EW)

Journey Advisory Group LLC decreased its stake in Edwards Lifesciences Co. (NYSE:EW) by 43.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,040 shares of the medical research company’s stock after selling 3,799 shares during the period. Journey Advisory Group LLC’s holdings in Edwards Lifesciences were worth $466,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC raised its position in Edwards Lifesciences by 4.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 330,711 shares of the medical research company’s stock valued at $31,603,000 after purchasing an additional 14,087 shares in the last quarter. Empowered Funds LLC raised its holdings in shares of Edwards Lifesciences by 151.2% during the 1st quarter. Empowered Funds LLC now owns 20,123 shares of the medical research company’s stock valued at $1,923,000 after buying an additional 12,112 shares in the last quarter. Cetera Advisors LLC boosted its stake in Edwards Lifesciences by 175.1% in the first quarter. Cetera Advisors LLC now owns 38,090 shares of the medical research company’s stock worth $3,640,000 after buying an additional 24,242 shares in the last quarter. TD Asset Management Inc boosted its stake in Edwards Lifesciences by 95.1% in the fourth quarter. TD Asset Management Inc now owns 1,323,611 shares of the medical research company’s stock worth $100,925,000 after buying an additional 645,204 shares in the last quarter. Finally, Sei Investments Co. grew its position in Edwards Lifesciences by 10.8% during the fourth quarter. Sei Investments Co. now owns 558,031 shares of the medical research company’s stock valued at $42,550,000 after acquiring an additional 54,595 shares during the last quarter. Hedge funds and other institutional investors own 79.46% of the company’s stock.

Edwards Lifesciences Stock Down 4.2 %

EW stock opened at $66.05 on Friday. The company has a market capitalization of $39.80 billion, a price-to-earnings ratio of 28.47, a price-to-earnings-growth ratio of 2.92 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 business’s 50 day moving average price is $75.26 and its two-hundred day moving average price is $84.30. Edwards Lifesciences Co. has a fifty-two week low of $58.93 and a fifty-two week high of $96.12.

Edwards Lifesciences (NYSE:EW) last issued its quarterly earnings results on Wednesday, July 24th. The medical research company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.01. The company had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.65 billion. Edwards Lifesciences had a return on equity of 22.35% and a net margin of 24.55%. The firm’s revenue for the quarter was up 6.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.66 earnings per share. As a group, analysts forecast that Edwards Lifesciences Co. will post 2.7 earnings per share for the current fiscal year.

Analysts Set New Price Targets

EW has been the subject of a number of recent research reports. Barclays lowered their price objective on shares of Edwards Lifesciences from $101.00 to $90.00 and set an “overweight” rating for the company in a report on Friday, July 26th. Canaccord Genuity Group reduced their price objective on Edwards Lifesciences from $85.00 to $77.00 and set a “hold” rating on the stock in a research note on Thursday, July 25th. The Goldman Sachs Group decreased their price objective on Edwards Lifesciences from $107.00 to $91.00 and set a “buy” rating on the stock in a report on Friday, July 26th. JPMorgan Chase & Co. cut Edwards Lifesciences from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $105.00 to $72.00 in a report on Thursday, July 25th. Finally, Citigroup lifted their price target on Edwards Lifesciences from $105.00 to $106.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Fourteen investment 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, Edwards Lifesciences currently has an average rating of “Moderate Buy” and an average target price of $82.10.

Insider Buying and Selling

In other Edwards Lifesciences news, VP Donald E. Bobo, Jr. sold 5,000 shares of the company’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $87.54, for a total value of $437,700.00. Following the sale, the vice president now owns 46,936 shares in the company, valued at $4,108,777.44. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Edwards Lifesciences news, VP Donald E. Bobo, Jr. sold 5,000 shares of Edwards Lifesciences stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $87.54, for a total transaction of $437,700.00. Following the completion of the transaction, the vice president now owns 46,936 shares in the company, valued at $4,108,777.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Daveen Chopra sold 1,250 shares of the stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $69.95, for a total value of $87,437.50. Following the completion of the sale, the vice president now directly owns 29,333 shares in the company, valued at $2,051,843.35. The disclosure for this sale can be found here. Insiders sold a total of 16,250 shares of company stock worth $1,321,988 in the last three months. 1.29% of the stock is owned by corporate insiders.

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.