AlphaCrest Capital Management LLC Reduces Stake in Edwards Lifesciences Co. (NYSE:EW)

AlphaCrest Capital Management LLC lowered its holdings in Edwards Lifesciences Co. (NYSE:EWGet Rating) by 13.6% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 5,918 shares of the medical research company’s stock after selling 932 shares during the quarter. AlphaCrest Capital Management LLC’s holdings in Edwards Lifesciences were worth $697,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Lindbrook Capital LLC lifted its position in shares of Edwards Lifesciences by 14.6% during the 1st quarter. Lindbrook Capital LLC now owns 738 shares of the medical research company’s stock valued at $87,000 after acquiring an additional 94 shares during the last quarter. Hoylecohen LLC lifted its position in shares of Edwards Lifesciences by 1.0% during the 1st quarter. Hoylecohen LLC now owns 9,923 shares of the medical research company’s stock valued at $1,168,000 after acquiring an additional 100 shares during the last quarter. Midwest Professional Planners LTD. lifted its position in shares of Edwards Lifesciences by 0.5% during the 4th quarter. Midwest Professional Planners LTD. now owns 21,563 shares of the medical research company’s stock valued at $2,793,000 after acquiring an additional 105 shares during the last quarter. Pinnacle Bancorp Inc. lifted its holdings in shares of Edwards Lifesciences by 18.6% in the first quarter. Pinnacle Bancorp Inc. now owns 701 shares of the medical research company’s stock valued at $83,000 after purchasing an additional 110 shares in the last quarter. Finally, TPG Financial Advisors LLC lifted its holdings in shares of Edwards Lifesciences by 2.9% in the first quarter. TPG Financial Advisors LLC now owns 4,109 shares of the medical research company’s stock valued at $484,000 after purchasing an additional 115 shares in the last quarter. Hedge funds and other institutional investors own 81.33% of the company’s stock.

Edwards Lifesciences Trading Down 1.6 %

Edwards Lifesciences stock opened at $88.69 on Tuesday. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.37 and a quick ratio of 2.60. The company has a market capitalization of $54.98 billion, a price-to-earnings ratio of 38.39, a PEG ratio of 2.61 and a beta of 1.14. Edwards Lifesciences Co. has a one year low of $85.58 and a one year high of $131.73. The company’s fifty day moving average price is $99.11 and its two-hundred day moving average price is $103.82.

Edwards Lifesciences (NYSE:EWGet Rating) last posted its earnings results on Thursday, July 28th. The medical research company reported $0.63 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.01). The business had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.40 billion. Edwards Lifesciences had a return on equity of 24.77% and a net margin of 27.18%. The company’s quarterly revenue was down .2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.64 earnings per share. On average, analysts forecast that Edwards Lifesciences Co. will post 2.51 earnings per share for the current fiscal year.

Insider Activity

In other news, VP Bernard J. Zovighian sold 4,811 shares of the firm’s stock in a transaction dated Friday, August 5th. The stock was sold at an average price of $103.66, for a total value of $498,708.26. Following the sale, the vice president now directly owns 21,247 shares of the company’s stock, valued at $2,202,464.02. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, VP Bernard J. Zovighian sold 4,811 shares of the firm’s stock in a transaction dated Friday, August 5th. The stock was sold at an average price of $103.66, for a total value of $498,708.26. Following the sale, the vice president now directly owns 21,247 shares of the company’s stock, valued at $2,202,464.02. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Daveen Chopra sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, August 2nd. The shares were sold at an average price of $102.49, for a total value of $102,490.00. Following the completion of the sale, the vice president now directly owns 18,911 shares in the company, valued at $1,938,188.39. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 86,128 shares of company stock valued at $8,273,103. 1.29% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on EW shares. Morgan Stanley reduced their target price on Edwards Lifesciences from $136.00 to $119.00 and set an “overweight” rating for the company in a report on Friday, July 15th. Citigroup reduced their target price on Edwards Lifesciences from $134.00 to $115.00 and set a “buy” rating for the company in a report on Tuesday, May 17th. Truist Financial reduced their target price on Edwards Lifesciences from $140.00 to $120.00 and set a “buy” rating for the company in a report on Wednesday, July 20th. Cowen reduced their target price on Edwards Lifesciences from $140.00 to $125.00 in a report on Monday, July 11th. Finally, Cowen reduced their target price on Edwards Lifesciences from $140.00 to $125.00 in a report on Monday, July 11th. Three research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Edwards Lifesciences currently has an average rating of “Moderate Buy” and an average price target of $126.19.

Edwards Lifesciences Company Profile

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Edwards Lifesciences Corporation provides products and technologies for structural heart disease, and critical care and surgical monitoring in the United States, Europe, Japan, and internationally. It offers transcatheter heart valve replacement products for the minimally invasive replacement of heart valves; and transcatheter heart valve repair and replacement products to treat mitral and tricuspid valve diseases.

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Institutional Ownership by Quarter for Edwards Lifesciences (NYSE:EW)

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