First American Bank Reduces Stake in Edwards Lifesciences Co. (NYSE:EW)

First American Bank decreased its stake in shares of Edwards Lifesciences Co. (NYSE:EW) by 1.1% during the third quarter, HoldingsChannel.com reports. The firm owned 142,307 shares of the medical research company’s stock after selling 1,624 shares during the period. First American Bank’s holdings in Edwards Lifesciences were worth $9,391,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of Edwards Lifesciences by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 52,964,394 shares of the medical research company’s stock valued at $5,061,277,000 after acquiring an additional 600,994 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Edwards Lifesciences by 4.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 19,782,909 shares of the medical research company’s stock valued at $1,827,347,000 after acquiring an additional 809,605 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Edwards Lifesciences by 57.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,516,260 shares of the medical research company’s stock valued at $622,695,000 after acquiring an additional 2,390,137 shares in the last quarter. Champlain Investment Partners LLC raised its holdings in shares of Edwards Lifesciences by 3.1% in the 1st quarter. Champlain Investment Partners LLC now owns 2,964,168 shares of the medical research company’s stock valued at $283,256,000 after acquiring an additional 88,205 shares in the last quarter. Finally, AustralianSuper Pty Ltd increased its position in shares of Edwards Lifesciences by 14.2% during the 2nd quarter. AustralianSuper Pty Ltd now owns 2,778,812 shares of the medical research company’s stock valued at $256,679,000 after purchasing an additional 344,465 shares during the last quarter. Hedge funds and other institutional investors own 79.46% of the company’s stock.

Analyst Upgrades and Downgrades

EW has been the topic of several recent research reports. Morgan Stanley reiterated an “equal weight” rating and set a $70.00 price objective on shares of Edwards Lifesciences in a research report on Friday, October 11th. TD Cowen lowered Edwards Lifesciences from a “buy” rating to a “hold” rating and reduced their price objective for the company from $100.00 to $70.00 in a research report on Thursday, July 25th. Bank of America lowered Edwards Lifesciences from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $105.00 to $75.00 in a research report on Thursday, July 25th. Royal Bank of Canada reduced their price objective on Edwards Lifesciences from $85.00 to $75.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 8th. Finally, Robert W. Baird reduced their price objective on Edwards Lifesciences from $73.00 to $68.00 and set a “neutral” rating on the stock in a research report on Friday. Fifteen research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $75.67.

Insider Activity

In other news, VP Daveen Chopra sold 1,250 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the vice president now 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 this hyperlink. In other Edwards Lifesciences news, VP Donald E. Bobo, Jr. sold 5,000 shares of Edwards Lifesciences stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $69.51, for a total transaction of $347,550.00. Following the completion of the transaction, the vice president now owns 46,936 shares in the company, valued at approximately $3,262,521.36. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Daveen Chopra sold 1,250 shares of Edwards Lifesciences stock in a transaction on 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 owns 29,333 shares of the company’s stock, valued at $2,051,843.35. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 16,250 shares of company stock worth $1,099,238 in the last quarter. 1.29% of the stock is owned by company insiders.

Edwards Lifesciences Price Performance

Shares of EW stock opened at $69.38 on Monday. The firm has a market cap of $41.79 billion, a P/E ratio of 28.55, a P/E/G ratio of 3.00 and a beta of 1.13. Edwards Lifesciences Co. has a fifty-two week low of $58.93 and a fifty-two week high of $96.12. The business’s 50 day moving average price is $68.09 and its 200-day moving average price is $78.30. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.87 and a current ratio of 3.71.

Edwards Lifesciences (NYSE:EW) last issued its quarterly earnings data on Thursday, October 24th. The medical research company reported $0.67 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.67. The firm had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.57 billion. Edwards Lifesciences had a return on equity of 22.35% and a net margin of 24.55%. The business’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same period last year, the company earned $0.59 EPS. On average, equities research analysts anticipate that Edwards Lifesciences Co. will post 2.61 earnings per share for the current year.

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.