Pegasus Asset Management Inc. Cuts Stock Holdings in Edwards Lifesciences Co. (NYSE:EW)

Pegasus Asset Management Inc. decreased its holdings in shares of Edwards Lifesciences Co. (NYSE:EW) by 1.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 42,469 shares of the medical research company’s stock after selling 818 shares during the quarter. Pegasus Asset Management Inc.’s holdings in Edwards Lifesciences were worth $2,803,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Crewe Advisors LLC purchased a new stake in Edwards Lifesciences during the 1st quarter valued at about $28,000. First Community Trust NA purchased a new position in shares of Edwards Lifesciences during the second quarter valued at approximately $29,000. Riverview Trust Co purchased a new position in shares of Edwards Lifesciences during the first quarter valued at approximately $34,000. Webster Bank N. A. bought a new stake in shares of Edwards Lifesciences during the second quarter valued at approximately $39,000. Finally, Peoples Bank KS bought a new stake in shares of Edwards Lifesciences during the third quarter valued at approximately $40,000. 79.46% of the stock is currently owned by institutional investors.

Edwards Lifesciences Trading Down 1.0 %

Shares of NYSE:EW traded down $0.69 during trading on Tuesday, hitting $69.36. The company had a trading volume of 1,488,931 shares, compared to its average volume of 4,552,915. The stock has a market cap of $41.80 billion, a price-to-earnings ratio of 30.19, a price-to-earnings-growth ratio of 2.83 and a beta of 1.13. Edwards Lifesciences Co. has a one year low of $58.93 and a one year high of $96.12. The company has a fifty day simple moving average of $67.90 and a two-hundred day simple moving average of $78.93. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.71 and a quick ratio of 2.87.

Edwards Lifesciences (NYSE:EW) last issued 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. Edwards Lifesciences had a return on equity of 22.35% and a net margin of 24.55%. The firm had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.65 billion. During the same period in the prior year, the business posted $0.66 earnings per share. The company’s revenue for the quarter was up 6.7% on a year-over-year basis. As a group, equities analysts forecast that Edwards Lifesciences Co. will post 2.71 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on EW. Citigroup dropped their price target on Edwards Lifesciences from $83.00 to $77.00 and set a “buy” rating on the stock in a research report on Tuesday, October 1st. The Goldman Sachs Group reduced their price objective on Edwards Lifesciences from $107.00 to $91.00 and set a “buy” rating for the company in a research report on Friday, July 26th. Wolfe Research upgraded Edwards Lifesciences from an “underperform” rating to a “peer perform” rating in a research report on Monday, July 29th. Oppenheimer restated an “outperform” rating and issued a $90.00 price target on shares of Edwards Lifesciences in a research report on Thursday, September 12th. Finally, Daiwa Capital Markets upgraded Edwards Lifesciences from a “neutral” rating to an “outperform” rating in a research report on Wednesday, July 31st. Fifteen analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $75.81.

Insiders Place Their Bets

In other Edwards Lifesciences news, VP Daveen Chopra sold 1,250 shares of the firm’s stock in a transaction on Tuesday, August 20th. The stock was 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 in the company, valued at $2,051,843.35. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, VP Daveen Chopra sold 1,250 shares of Edwards Lifesciences stock in a transaction on Tuesday, August 20th. The stock was 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 in the company, valued at approximately $2,051,843.35. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Donald E. Bobo, Jr. sold 5,000 shares of Edwards Lifesciences stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $66.08, for a total value of $330,400.00. Following the completion of the transaction, the vice president now owns 46,936 shares in the company, valued at $3,101,530.88. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 16,250 shares of company stock worth $1,099,238 in the last ninety days. 1.29% of the stock is owned by company insiders.

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.