Edwards Lifesciences Corporation (NYSE:EW) Shares Sold by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. reduced its holdings in Edwards Lifesciences Corporation (NYSE:EW) by 90.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,147 shares of the medical research company’s stock after selling 30,681 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Edwards Lifesciences were worth $228,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Crowley Wealth Management Inc. purchased a new position in Edwards Lifesciences in the fourth quarter valued at about $26,000. Vega Investment Solutions purchased a new stake in shares of Edwards Lifesciences during the 4th quarter worth about $27,000. Millstone Evans Group LLC acquired a new stake in shares of Edwards Lifesciences during the 4th quarter valued at about $29,000. Global X Japan Co. Ltd. grew its stake in shares of Edwards Lifesciences by 116.1% in the 1st quarter. Global X Japan Co. Ltd. now owns 402 shares of the medical research company’s stock valued at $29,000 after buying an additional 216 shares in the last quarter. Finally, Park Square Financial Group LLC acquired a new position in Edwards Lifesciences in the fourth quarter worth approximately $44,000. 79.46% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

EW has been the topic of a number of recent analyst reports. Robert W. Baird lifted their price target on shares of Edwards Lifesciences from $72.00 to $75.00 and gave the company a “neutral” rating in a research report on Thursday, April 24th. Citigroup reissued a “buy” rating and set a $95.00 target price (up previously from $84.00) on shares of Edwards Lifesciences in a research report on Thursday, May 22nd. Wall Street Zen cut shares of Edwards Lifesciences from a “buy” rating to a “hold” rating in a report on Friday, May 16th. Dbs Bank raised Edwards Lifesciences to a “hold” rating in a research report on Monday, June 2nd. Finally, Canaccord Genuity Group lifted their price objective on Edwards Lifesciences from $71.00 to $75.00 and gave the stock a “hold” rating in a research note on Friday, April 25th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $80.20.

Edwards Lifesciences Trading Up 0.2%

Shares of EW stock opened at $78.34 on Tuesday. Edwards Lifesciences Corporation has a 12-month low of $58.93 and a 12-month high of $95.25. The company has a quick ratio of 3.66, a current ratio of 4.45 and a debt-to-equity ratio of 0.06. The company has a 50 day moving average of $75.80 and a 200-day moving average of $73.18. The firm has a market cap of $45.95 billion, a P/E ratio of 11.19, a PEG ratio of 3.94 and a beta of 1.12.

Edwards Lifesciences (NYSE:EW) last posted its earnings results on Wednesday, April 23rd. The medical research company reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.04. The firm had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.40 billion. Edwards Lifesciences had a return on equity of 16.62% and a net margin of 75.48%. The business’s quarterly revenue was up 6.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.66 earnings per share. Sell-side analysts anticipate that Edwards Lifesciences Corporation will post 2.45 earnings per share for the current year.

Insider Transactions at Edwards Lifesciences

In related news, VP Donald E. Bobo, Jr. sold 9,500 shares of the firm’s stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $69.81, for a total value of $663,195.00. Following the sale, the vice president directly owned 47,206 shares of the company’s stock, valued at $3,295,450.86. This trade represents a 16.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Larry L. Wood sold 8,950 shares of the stock in a transaction 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 transaction, the insider directly owned 206,900 shares in the company, valued at approximately $15,565,087. This represents a 4.15% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 40,648 shares of company stock worth $2,998,866. 0.34% of the stock is owned by corporate insiders.

About Edwards Lifesciences

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.