Trust Point Inc. Sells 582 Shares of Edwards Lifesciences Co. (NYSE:EW)

Trust Point Inc. reduced its position in Edwards Lifesciences Co. (NYSE:EW) by 6.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 8,780 shares of the medical research company’s stock after selling 582 shares during the quarter. Trust Point Inc.’s holdings in Edwards Lifesciences were worth $636,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Crowley Wealth Management Inc. bought a new position in Edwards Lifesciences during the fourth quarter worth $26,000. Vega Investment Solutions bought a new position in Edwards Lifesciences during the fourth quarter worth $27,000. Millstone Evans Group LLC bought a new position in Edwards Lifesciences during the fourth quarter worth $29,000. Park Square Financial Group LLC bought a new position in Edwards Lifesciences during the fourth quarter worth $44,000. Finally, Catalyst Capital Advisors LLC bought a new position in Edwards Lifesciences during the fourth quarter worth $54,000. 79.46% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on EW shares. Citigroup reissued a “buy” rating and set a $95.00 target price (up from $84.00) on shares of Edwards Lifesciences in a research note on Thursday, May 22nd. Wall Street Zen lowered shares of Edwards Lifesciences from a “buy” rating to a “hold” rating in a research note on Friday, May 16th. Robert W. Baird increased their target price on shares of Edwards Lifesciences from $72.00 to $75.00 and gave the stock a “neutral” rating in a research note on Thursday, April 24th. Dbs Bank upgraded shares of Edwards Lifesciences to a “hold” rating in a report on Monday, June 2nd. Finally, Canaccord Genuity Group upped their price objective on shares of Edwards Lifesciences from $71.00 to $75.00 and gave the stock a “hold” rating in a report on Friday, April 25th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $80.20.

Insider Activity

In other Edwards Lifesciences news, insider Larry L. Wood sold 8,950 shares of Edwards Lifesciences stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $75.23, for a total transaction of $673,308.50. Following the completion of the sale, the insider now directly owns 206,900 shares in the company, valued at $15,565,087. The trade was a 4.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Donald E. Bobo, Jr. sold 9,500 shares of Edwards Lifesciences stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $69.81, for a total transaction of $663,195.00. Following the transaction, the vice president now directly owns 47,206 shares in the company, valued at $3,295,450.86. This trade represents a 16.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 51,898 shares of company stock worth $3,796,154. 1.29% of the stock is owned by company insiders.

Edwards Lifesciences Stock Performance

NYSE EW opened at $74.80 on Tuesday. Edwards Lifesciences Co. has a 52-week low of $58.93 and a 52-week high of $95.25. The company has a 50-day simple moving average of $74.70 and a 200 day simple moving average of $72.96. 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 company has a market capitalization of $43.88 billion, a PE ratio of 10.73, a price-to-earnings-growth ratio of 4.82 and a beta of 1.12.

Edwards Lifesciences (NYSE:EW) last posted its quarterly earnings data on Wednesday, April 23rd. The medical research company reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.04. The business had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.40 billion. Edwards Lifesciences had a net margin of 72.93% and a return on equity of 19.40%. The firm’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.66 earnings per share. On average, research analysts predict that Edwards Lifesciences Co. will post 2.45 EPS for the current year.

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.