Spectrum Asset Management Inc. NB CA Has $2.64 Million Stake in Edwards Lifesciences Co. (NYSE:EW)

Spectrum Asset Management Inc. NB CA reduced its stake in shares of Edwards Lifesciences Co. (NYSE:EW) by 6.4% in the 4th quarter, HoldingsChannel.com reports. The fund owned 35,633 shares of the medical research company’s stock after selling 2,421 shares during the quarter. Spectrum Asset Management Inc. NB CA’s holdings in Edwards Lifesciences were worth $2,638,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Czech National Bank boosted its stake in Edwards Lifesciences by 6.9% in the third quarter. Czech National Bank now owns 122,715 shares of the medical research company’s stock worth $8,098,000 after purchasing an additional 7,883 shares in the last quarter. GAMMA Investing LLC lifted its position in Edwards Lifesciences by 21.6% during the 3rd quarter. GAMMA Investing LLC now owns 4,105 shares of the medical research company’s stock worth $271,000 after buying an additional 730 shares in the last quarter. Alpha Financial Partners LLC bought a new stake in Edwards Lifesciences during the 3rd quarter worth about $693,000. BSN CAPITAL PARTNERS Ltd acquired a new position in shares of Edwards Lifesciences during the third quarter worth approximately $11,746,000. Finally, Tobam increased its holdings in shares of Edwards Lifesciences by 2,756.8% in the third quarter. Tobam now owns 75,647 shares of the medical research company’s stock valued at $4,992,000 after purchasing an additional 72,999 shares in the last quarter. 79.46% of the stock is owned by institutional investors.

Edwards Lifesciences Stock Performance

Shares of EW opened at $70.96 on Friday. The firm has a market cap of $41.85 billion, a P/E ratio of 10.24, a PEG ratio of 3.72 and a beta of 1.11. Edwards Lifesciences Co. has a twelve month low of $58.93 and a twelve month high of $96.12. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.89 and a current ratio of 3.46. The firm’s 50 day moving average price is $72.49 and its two-hundred day moving average price is $69.54.

Insider Activity at Edwards Lifesciences

In related news, VP Donald E. Bobo, Jr. sold 5,000 shares of Edwards Lifesciences stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $65.57, for a total value of $327,850.00. Following the sale, the vice president now owns 46,936 shares of the company’s stock, valued at approximately $3,077,593.52. This trade represents a 9.63 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Daniel J. Lippis sold 500 shares of the business’s stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $68.76, for a total value of $34,380.00. Following the completion of the sale, the vice president now owns 23,189 shares in the company, valued at $1,594,475.64. The trade was a 2.11 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 8,000 shares of company stock valued at $547,430. 1.27% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have commented on the company. The Goldman Sachs Group increased their price objective on Edwards Lifesciences from $81.00 to $90.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. Truist Financial reiterated a “hold” rating and issued a $78.00 price objective (up from $70.00) on shares of Edwards Lifesciences in a research report on Thursday, December 5th. Citigroup upped their target price on shares of Edwards Lifesciences from $81.00 to $83.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. Barclays lifted their price target on shares of Edwards Lifesciences from $85.00 to $88.00 and gave the stock an “overweight” rating in a research report on Monday, December 2nd. Finally, Daiwa America lowered shares of Edwards Lifesciences from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, Edwards Lifesciences currently has a consensus rating of “Hold” and an average price target of $79.19.

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.