Edwards Lifesciences Co. (NYSE:EW) Stake Cut by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC reduced its holdings in Edwards Lifesciences Co. (NYSE:EW) by 62.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 316,624 shares of the medical research company’s stock after selling 532,131 shares during the period. Allspring Global Investments Holdings LLC owned about 0.05% of Edwards Lifesciences worth $24,143,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of EW. Nordea Investment Management AB increased its position in Edwards Lifesciences by 1,224.1% in the 4th quarter. Nordea Investment Management AB now owns 1,610,412 shares of the medical research company’s stock worth $123,261,000 after purchasing an additional 1,488,791 shares during the last quarter. Arlington Trust Co LLC increased its position in Edwards Lifesciences by 5,092.4% in the 4th quarter. Arlington Trust Co LLC now owns 12,306 shares of the medical research company’s stock worth $938,000 after purchasing an additional 12,069 shares during the last quarter. Versor Investments LP increased its position in Edwards Lifesciences by 83.3% in the 3rd quarter. Versor Investments LP now owns 4,496 shares of the medical research company’s stock worth $311,000 after purchasing an additional 2,043 shares during the last quarter. Gateway Investment Advisers LLC increased its position in Edwards Lifesciences by 12.2% in the 4th quarter. Gateway Investment Advisers LLC now owns 253,337 shares of the medical research company’s stock worth $19,317,000 after purchasing an additional 27,519 shares during the last quarter. Finally, US Bancorp DE increased its position in Edwards Lifesciences by 0.6% in the 3rd quarter. US Bancorp DE now owns 850,257 shares of the medical research company’s stock worth $58,906,000 after purchasing an additional 5,409 shares during the last quarter. 79.46% of the stock is owned by hedge funds and other institutional investors.

Edwards Lifesciences Price Performance

Shares of EW stock opened at $90.28 on Friday. The stock has a 50 day moving average of $90.01 and a two-hundred day moving average of $77.74. The company has a current ratio of 3.38, a quick ratio of 2.40 and a debt-to-equity ratio of 0.09. Edwards Lifesciences Co. has a 12 month low of $60.57 and a 12 month high of $96.12. The company has a market capitalization of $54.34 billion, a P/E ratio of 39.25, a P/E/G ratio of 4.53 and a beta of 1.05.

Edwards Lifesciences (NYSE:EW) last announced its quarterly earnings data on Tuesday, February 6th. The medical research company reported $0.64 EPS for the quarter, hitting analysts’ consensus estimates of $0.64. Edwards Lifesciences had a return on equity of 23.56% and a net margin of 23.35%. The company had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.50 billion. During the same quarter last year, the company earned $0.64 EPS. The company’s quarterly revenue was up 13.3% on a year-over-year basis. As a group, equities analysts expect that Edwards Lifesciences Co. will post 2.76 EPS for the current year.

Insider Buying and Selling

In related news, CFO Scott B. Ullem sold 7,255 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $94.89, for a total transaction of $688,426.95. Following the completion of the transaction, the chief financial officer now owns 19,074 shares in the company, valued at approximately $1,809,931.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Heisz Leslie Stone sold 7,056 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $86.45, for a total transaction of $609,991.20. Following the completion of the transaction, the director now owns 26,980 shares in the company, valued at approximately $2,332,421. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Scott B. Ullem sold 7,255 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $94.89, for a total value of $688,426.95. Following the transaction, the chief financial officer now owns 19,074 shares of the company’s stock, valued at approximately $1,809,931.86. The disclosure for this sale can be found here. Insiders sold 194,004 shares of company stock worth $17,166,254 in the last 90 days. 1.29% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Wells Fargo & Company raised Edwards Lifesciences from an “equal weight” rating to an “overweight” rating and set a $94.00 price objective on the stock in a report on Friday, February 2nd. OTR Global raised Edwards Lifesciences from a “mixed” rating to a “positive” rating in a report on Tuesday, March 26th. Oppenheimer increased their price objective on Edwards Lifesciences from $93.00 to $100.00 and gave the company an “outperform” rating in a report on Monday, March 18th. Evercore ISI increased their price objective on Edwards Lifesciences from $86.00 to $92.00 and gave the company an “in-line” rating in a report on Thursday, April 4th. Finally, Royal Bank of Canada raised their target price on Edwards Lifesciences from $82.00 to $95.00 and gave the company an “outperform” rating in a report on Wednesday, February 7th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $91.33.

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.