First Citizens Bank & Trust Co. Lowers Position in Edwards Lifesciences Co. (NYSE:EW)

First Citizens Bank & Trust Co. trimmed its stake in Edwards Lifesciences Co. (NYSE:EWFree Report) by 41.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,650 shares of the medical research company’s stock after selling 2,598 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Edwards Lifesciences were worth $278,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. Sequoia Financial Advisors LLC grew its stake in Edwards Lifesciences by 11.4% during the first quarter. Sequoia Financial Advisors LLC now owns 9,181 shares of the medical research company’s stock worth $1,081,000 after buying an additional 941 shares during the period. Zions Bancorporation N.A. grew its stake in Edwards Lifesciences by 34.7% during the first quarter. Zions Bancorporation N.A. now owns 1,738 shares of the medical research company’s stock worth $204,000 after buying an additional 448 shares during the period. Covestor Ltd grew its stake in Edwards Lifesciences by 18.2% during the first quarter. Covestor Ltd now owns 1,223 shares of the medical research company’s stock worth $144,000 after buying an additional 188 shares during the period. Mather Group LLC. grew its stake in Edwards Lifesciences by 53.5% during the first quarter. Mather Group LLC. now owns 7,182 shares of the medical research company’s stock worth $846,000 after buying an additional 2,503 shares during the period. Finally, Mackenzie Financial Corp lifted its position in shares of Edwards Lifesciences by 3.1% during the first quarter. Mackenzie Financial Corp now owns 655,567 shares of the medical research company’s stock worth $77,173,000 after purchasing an additional 19,798 shares in the last quarter. 79.46% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Bank of America raised shares of Edwards Lifesciences from a “neutral” rating to a “buy” rating in a research report on Thursday, March 7th. Morgan Stanley boosted their target price on shares of Edwards Lifesciences from $95.00 to $103.00 and gave the stock an “overweight” rating in a research report on Thursday, March 21st. Wells Fargo & Company raised shares of Edwards Lifesciences from an “equal weight” rating to an “overweight” rating and set a $94.00 target price on the stock in a research report on Friday, February 2nd. Royal Bank of Canada boosted their target price on shares of Edwards Lifesciences from $82.00 to $95.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 7th. Finally, StockNews.com cut shares of Edwards Lifesciences from a “buy” rating to a “hold” rating in a research report on Wednesday, March 20th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, Edwards Lifesciences presently has an average rating of “Moderate Buy” and a consensus target price of $89.67.

Read Our Latest Report on EW

Edwards Lifesciences Stock Down 1.4 %

Shares of NYSE:EW opened at $93.02 on Thursday. The stock has a market capitalization of $55.99 billion, a price-to-earnings ratio of 40.44, a price-to-earnings-growth ratio of 4.67 and a beta of 1.05. Edwards Lifesciences Co. has a 1-year low of $60.57 and a 1-year high of $96.12. The company’s fifty day moving average is $87.52 and its two-hundred day moving average is $76.61. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.40 and a current ratio of 3.38.

Edwards Lifesciences (NYSE:EWGet Free Report) last issued its earnings results on Tuesday, February 6th. The medical research company reported $0.64 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.64. The company had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.50 billion. Edwards Lifesciences had a net margin of 23.35% and a return on equity of 23.56%. The firm’s revenue was up 13.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.64 earnings per share. Equities analysts anticipate that Edwards Lifesciences Co. will post 2.76 EPS for the current year.

Insider Transactions at Edwards Lifesciences

In other news, CFO Scott B. Ullem sold 7,255 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were 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 $1,809,931.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Michael A. Mussallem sold 29,350 shares of the company’s stock in a transaction dated Friday, January 5th. The shares were sold at an average price of $72.98, for a total transaction of $2,141,963.00. Following the completion of the transaction, the director now owns 4,486 shares in the company, valued at $327,388.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Scott B. Ullem sold 7,255 shares of the company’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $94.89, for a total transaction 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. Over the last quarter, insiders sold 189,604 shares of company stock worth $16,022,982. Insiders own 1.29% of the company’s stock.

About Edwards Lifesciences

(Free Report)

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.

Further Reading

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

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