Edwards Lifesciences Co. (NYSE:EW) Shares Sold by Texas Permanent School Fund Corp

Texas Permanent School Fund Corp lowered its holdings in Edwards Lifesciences Co. (NYSE:EW) by 20.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 99,118 shares of the medical research company’s stock after selling 26,251 shares during the quarter. Texas Permanent School Fund Corp’s holdings in Edwards Lifesciences were worth $9,156,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in EW. DSM Capital Partners LLC acquired a new stake in shares of Edwards Lifesciences in the fourth quarter worth $28,000. Crewe Advisors LLC acquired a new stake in shares of Edwards Lifesciences in the first quarter worth $28,000. First Community Trust NA acquired a new stake in shares of Edwards Lifesciences in the second quarter worth $29,000. Riverview Trust Co acquired a new stake in shares of Edwards Lifesciences in the first quarter worth $34,000. Finally, Pingora Partners LLC acquired a new stake in shares of Edwards Lifesciences in the fourth quarter worth $38,000. Institutional investors and hedge funds own 79.46% of the company’s stock.

Edwards Lifesciences Stock Performance

NYSE:EW opened at $65.71 on Tuesday. The company’s 50-day moving average price is $74.26 and its 200-day moving average price is $83.98. The company has a current ratio of 3.71, a quick ratio of 2.87 and a debt-to-equity ratio of 0.08. The company has a market cap of $39.58 billion, a P/E ratio of 28.32, a P/E/G ratio of 2.79 and a beta of 1.13. Edwards Lifesciences Co. has a twelve month low of $58.93 and a twelve month high of $96.12.

Edwards Lifesciences (NYSE:EW) last posted its quarterly earnings results on Wednesday, July 24th. The medical research company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.01. The firm had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.65 billion. Edwards Lifesciences had a net margin of 24.55% and a return on equity of 22.35%. The company’s revenue for the quarter was up 6.7% on a year-over-year basis. During the same period last year, the firm posted $0.66 earnings per share. On average, sell-side analysts forecast that Edwards Lifesciences Co. will post 2.7 earnings per share for the current fiscal year.

Insider Transactions at Edwards Lifesciences

In other news, VP Daveen Chopra sold 1,250 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $69.95, for a total value of $87,437.50. Following the transaction, the vice president now directly owns 29,333 shares of the company’s stock, valued at $2,051,843.35. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Edwards Lifesciences news, VP Daveen Chopra sold 1,250 shares of Edwards Lifesciences stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $69.95, for a total transaction of $87,437.50. Following the transaction, the vice president now directly owns 29,333 shares of the company’s stock, valued at $2,051,843.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Donald E. Bobo, Jr. sold 5,000 shares of Edwards Lifesciences stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $93.29, for a total transaction of $466,450.00. Following the transaction, the vice president now directly owns 46,936 shares in the company, valued at $4,378,659.44. The disclosure for this sale can be found here. Over the last three months, insiders have sold 16,250 shares of company stock valued at $1,321,988. Corporate insiders own 1.29% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Barclays cut their price objective on shares of Edwards Lifesciences from $90.00 to $80.00 and set an “overweight” rating on the stock in a research note on Monday. Evercore ISI dropped their price target on shares of Edwards Lifesciences from $91.00 to $76.00 and set an “in-line” rating on the stock in a research report on Thursday, July 25th. Bank of America lowered shares of Edwards Lifesciences from a “buy” rating to a “neutral” rating and dropped their price target for the company from $105.00 to $75.00 in a research report on Thursday, July 25th. Piper Sandler dropped their price target on shares of Edwards Lifesciences from $88.00 to $73.00 and set a “neutral” rating on the stock in a research report on Thursday, July 25th. Finally, Robert W. Baird lowered shares of Edwards Lifesciences from an “outperform” rating to a “neutral” rating and dropped their price target for the company from $102.00 to $70.00 in a research report on Thursday, July 25th. Fourteen equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $81.10.

Edwards Lifesciences 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.