California State Teachers Retirement System Sells 13,063 Shares of Edwards Lifesciences Co. (NYSE:EW)

California State Teachers Retirement System trimmed its stake in Edwards Lifesciences Co. (NYSE:EW – Get Rating) by 1.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,043,488 shares of the medical research company’s stock after selling 13,063 shares during the period. California State Teachers Retirement System owned approximately 0.17% of Edwards Lifesciences worth $86,223,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Bogart Wealth LLC purchased a new stake in Edwards Lifesciences in the third quarter worth approximately $25,000. MV Capital Management Inc. boosted its stake in Edwards Lifesciences by 74.1% in the third quarter. MV Capital Management Inc. now owns 329 shares of the medical research company’s stock worth $27,000 after buying an additional 140 shares in the last quarter. Wagner Wealth Management LLC purchased a new stake in Edwards Lifesciences in the second quarter worth approximately $44,000. New Millennium Group LLC purchased a new stake in Edwards Lifesciences in the second quarter worth approximately $54,000. Finally, Boit C F David purchased a new stake in Edwards Lifesciences in the third quarter worth approximately $54,000. 80.35% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

EW has been the subject of a number of analyst reports. Wolfe Research lowered Edwards Lifesciences from an “outperform” rating to a “market perform” rating in a research note on Thursday, December 1st. StockNews.com initiated coverage on Edwards Lifesciences in a research note on Thursday. They set a “hold” rating for the company. Wells Fargo & Company lowered Edwards Lifesciences from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $97.00 to $78.00 in a research note on Wednesday, March 8th. Piper Sandler lowered Edwards Lifesciences from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $95.00 to $80.00 in a research note on Monday, January 30th. Finally, Royal Bank of Canada dropped their price objective on Edwards Lifesciences from $118.00 to $105.00 and set an “outperform” rating for the company in a research note on Monday, November 28th. One analyst has rated the stock with a sell rating, ten have given a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, Edwards Lifesciences presently has an average rating of “Hold” and a consensus target price of $88.95.

Edwards Lifesciences Price Performance

EW opened at $79.48 on Thursday. The stock has a fifty day simple moving average of $78.14 and a two-hundred day simple moving average of $79.52. The company has a current ratio of 3.03, a quick ratio of 2.17 and a debt-to-equity ratio of 0.10. The company has a market cap of $48.35 billion, a price-to-earnings ratio of 32.57, a price-to-earnings-growth ratio of 4.33 and a beta of 1.01. Edwards Lifesciences Co. has a 12-month low of $67.13 and a 12-month high of $131.10.

Edwards Lifesciences (NYSE:EW – Get Rating) last posted its quarterly earnings data on Tuesday, January 31st. The medical research company reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.03. The business had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.33 billion. Edwards Lifesciences had a return on equity of 26.05% and a net margin of 28.27%. The firm’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.51 earnings per share. Research analysts predict that Edwards Lifesciences Co. will post 2.52 earnings per share for the current fiscal year.

Insider Activity

In related news, VP Donald E. Bobo, Jr. sold 6,725 shares of the company’s stock in a transaction dated Monday, January 9th. The shares were sold at an average price of $77.50, for a total value of $521,187.50. Following the transaction, the vice president now owns 62,561 shares in the company, valued at approximately $4,848,477.50. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Edwards Lifesciences news, VP Daveen Chopra sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, January 17th. The shares were sold at an average price of $78.00, for a total transaction of $312,000.00. Following the completion of the sale, the vice president now directly owns 18,911 shares in the company, valued at approximately $1,475,058. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Donald E. Bobo, Jr. sold 6,725 shares of the firm’s stock in a transaction dated Monday, January 9th. The shares were sold at an average price of $77.50, for a total transaction of $521,187.50. Following the sale, the vice president now owns 62,561 shares of the company’s stock, valued at $4,848,477.50. The disclosure for this sale can be found here. Insiders sold 101,821 shares of company stock worth $7,902,704 over the last three months. 1.29% of the stock is currently owned by corporate insiders.

Edwards Lifesciences Profile

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Edwards Lifesciences Corp. engages in patient-focused medical innovations for heart disease and critical care monitoring. Its products are categorized into four main areas: Transcatheter Aortic Valve Replacement, Transcatheter Mitral and Tricuspid Therapies, Surgical Structural Heart, and Critical Care.