Sumitomo Life Insurance Co. Decreases Holdings in Edwards Lifesciences Co. (NYSE:EW)

Sumitomo Life Insurance Co. lowered its position in Edwards Lifesciences Co. (NYSE:EW) by 38.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,966 shares of the medical research company’s stock after selling 9,334 shares during the quarter. Sumitomo Life Insurance Co.’s holdings in Edwards Lifesciences were worth $988,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Crewe Advisors LLC bought a new position in shares of Edwards Lifesciences during the 1st quarter valued at $28,000. First Community Trust NA purchased a new stake in Edwards Lifesciences during the second quarter valued at about $29,000. Riverview Trust Co bought a new position in shares of Edwards Lifesciences during the first quarter valued at about $34,000. Webster Bank N. A. purchased a new position in shares of Edwards Lifesciences in the second quarter worth about $39,000. Finally, Rise Advisors LLC lifted its stake in shares of Edwards Lifesciences by 125.0% in the 1st quarter. Rise Advisors LLC now owns 477 shares of the medical research company’s stock valued at $46,000 after acquiring an additional 265 shares during the last quarter. 79.46% of the stock is currently owned by institutional investors.

Edwards Lifesciences Price Performance

Shares of EW opened at $68.30 on Thursday. The firm’s 50-day simple moving average is $67.59 and its two-hundred day simple moving average is $79.52. Edwards Lifesciences Co. has a fifty-two week low of $58.93 and a fifty-two week high of $96.12. The stock has a market cap of $41.16 billion, a PE ratio of 29.44, a price-to-earnings-growth ratio of 2.83 and a beta of 1.13. 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 quarterly earnings data on Wednesday, July 24th. The medical research company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.01. The company had revenue of $1.63 billion during the quarter, compared to analyst estimates 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 quarter last year, the company earned $0.66 EPS. Analysts anticipate that Edwards Lifesciences Co. will post 2.71 earnings per share for the current fiscal year.

Analysts Set New Price Targets

EW has been the topic of several recent research reports. Daiwa Capital Markets upgraded Edwards Lifesciences from a “neutral” rating to an “outperform” rating in a research report on Wednesday, July 31st. Daiwa America raised shares of Edwards Lifesciences to a “strong-buy” rating in a research note on Wednesday, July 31st. Jefferies Financial Group lowered shares of Edwards Lifesciences from a “buy” rating to a “hold” rating and lowered their price target for the company from $85.00 to $70.00 in a report on Wednesday, September 18th. Royal Bank of Canada cut their price target on shares of Edwards Lifesciences from $85.00 to $75.00 and set an “outperform” rating on the stock in a report on Tuesday, October 8th. Finally, JPMorgan Chase & Co. downgraded shares of Edwards Lifesciences from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $105.00 to $72.00 in a research note on Thursday, July 25th. Fifteen research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Edwards Lifesciences presently has a consensus rating of “Hold” and a consensus target price of $75.81.

Insider Activity

In related news, VP Donald E. Bobo, Jr. sold 5,000 shares of the stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $66.08, for a total transaction of $330,400.00. Following the sale, the vice president now directly owns 46,936 shares of the company’s stock, valued at approximately $3,101,530.88. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, VP Donald E. Bobo, Jr. sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $66.08, for a total value of $330,400.00. Following the transaction, the vice president now directly owns 46,936 shares of the company’s stock, valued at approximately $3,101,530.88. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Daveen Chopra sold 1,250 shares of Edwards Lifesciences 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 of the company’s stock, valued at approximately $2,051,843.35. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 16,250 shares of company stock worth $1,099,238 over the last three months. 1.29% of the stock is currently owned by corporate insiders.

Edwards Lifesciences Company 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.