Ingalls & Snyder LLC Sells 1,662 Shares of Edwards Lifesciences Corporation $EW

Ingalls & Snyder LLC decreased its position in Edwards Lifesciences Corporation (NYSE:EW) by 26.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,650 shares of the medical research company’s stock after selling 1,662 shares during the period. Ingalls & Snyder LLC’s holdings in Edwards Lifesciences were worth $364,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Jennison Associates LLC lifted its stake in Edwards Lifesciences by 34.3% in the first quarter. Jennison Associates LLC now owns 10,086,033 shares of the medical research company’s stock valued at $731,036,000 after buying an additional 2,576,383 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Edwards Lifesciences by 4.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 6,783,568 shares of the medical research company’s stock valued at $491,673,000 after buying an additional 264,311 shares during the period. Nuveen LLC acquired a new position in Edwards Lifesciences in the first quarter valued at about $330,881,000. Invesco Ltd. lifted its stake in Edwards Lifesciences by 2.6% in the first quarter. Invesco Ltd. now owns 4,287,712 shares of the medical research company’s stock valued at $310,773,000 after buying an additional 107,241 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in Edwards Lifesciences by 5.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 3,961,643 shares of the medical research company’s stock valued at $287,140,000 after buying an additional 198,882 shares during the period. Institutional investors own 79.46% of the company’s stock.

Insider Transactions at Edwards Lifesciences

In related news, insider Larry L. Wood sold 8,950 shares of Edwards Lifesciences stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $78.06, for a total value of $698,637.00. Following the sale, the insider owned 206,900 shares of the company’s stock, valued at approximately $16,150,614. This trade represents a 4.15% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Truist Financial increased their target price on Edwards Lifesciences from $81.00 to $82.00 and gave the company a “hold” rating in a research note on Friday, July 25th. Weiss Ratings reissued a “hold (c)” rating on shares of Edwards Lifesciences in a research note on Friday. Royal Bank Of Canada increased their target price on Edwards Lifesciences from $85.00 to $89.00 and gave the company an “outperform” rating in a research note on Friday, July 25th. JPMorgan Chase & Co. increased their target price on Edwards Lifesciences from $80.00 to $85.00 and gave the company a “neutral” rating in a research note on Friday, July 25th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on Edwards Lifesciences from $85.00 to $94.00 and gave the company a “buy” rating in a report on Friday, July 25th. Three analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $87.06.

Edwards Lifesciences Trading Down 0.5%

NYSE:EW opened at $76.15 on Monday. Edwards Lifesciences Corporation has a fifty-two week low of $64.89 and a fifty-two week high of $83.00. The company has a debt-to-equity ratio of 0.06, a current ratio of 4.68 and a quick ratio of 3.87. The stock has a market capitalization of $44.70 billion, a PE ratio of 10.96, a price-to-earnings-growth ratio of 3.65 and a beta of 1.05. The business’s 50-day simple moving average is $77.37 and its 200-day simple moving average is $76.48.

Edwards Lifesciences (NYSE:EW) last released its quarterly earnings data on Thursday, July 24th. The medical research company reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.05. Edwards Lifesciences had a return on equity of 15.01% and a net margin of 72.96%.The business had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.49 billion. During the same quarter in the previous year, the business posted $0.70 EPS. Edwards Lifesciences’s revenue for the quarter was up 11.9% on a year-over-year basis. Sell-side analysts expect that Edwards Lifesciences Corporation will post 2.45 earnings per share for the current fiscal year.

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.