Cambridge Investment Research Advisors Inc. Reduces Stock Holdings in Edwards Lifesciences Corporation (NYSE:EW)

Cambridge Investment Research Advisors Inc. trimmed its stake in Edwards Lifesciences Corporation (NYSE:EW) by 15.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 28,459 shares of the medical research company’s stock after selling 5,382 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Edwards Lifesciences were worth $2,063,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of EW. Crowley Wealth Management Inc. bought a new position in Edwards Lifesciences in the fourth quarter worth about $26,000. Vega Investment Solutions bought a new stake in Edwards Lifesciences during the 4th quarter valued at approximately $27,000. Millstone Evans Group LLC purchased a new position in shares of Edwards Lifesciences during the 4th quarter worth approximately $29,000. Global X Japan Co. Ltd. raised its position 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 worth $29,000 after acquiring an additional 216 shares in the last quarter. Finally, ORG Wealth Partners LLC bought a new position in shares of Edwards Lifesciences in the 1st quarter worth approximately $38,000. Institutional investors own 79.46% of the company’s stock.

Edwards Lifesciences Stock Performance

Shares of EW opened at $77.21 on Wednesday. The company has a market cap of $45.29 billion, a price-to-earnings ratio of 11.03, a P/E/G ratio of 3.94 and a beta of 1.11. The business’s fifty day simple moving average is $75.94 and its two-hundred day simple moving average is $73.21. Edwards Lifesciences Corporation has a 12 month low of $58.93 and a 12 month high of $95.25. The company has a current ratio of 4.45, a quick ratio of 3.66 and a debt-to-equity ratio of 0.06.

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

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on EW. Piper Sandler upped their price target on Edwards Lifesciences from $80.00 to $83.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 13th. Canaccord Genuity Group boosted their target price on shares of Edwards Lifesciences from $71.00 to $75.00 and gave the company a “hold” rating in a report on Friday, April 25th. Dbs Bank raised shares of Edwards Lifesciences to a “hold” rating in a research report on Monday, June 2nd. Robert W. Baird increased their price target on shares of Edwards Lifesciences from $72.00 to $75.00 and gave the stock a “neutral” rating in a research note on Thursday, April 24th. Finally, Truist Financial dropped their price objective on shares of Edwards Lifesciences from $78.00 to $75.00 and set a “hold” rating on the stock in a research note on Friday, April 11th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, Edwards Lifesciences presently has a consensus rating of “Hold” and a consensus target price of $80.20.

Insider Buying and Selling

In other Edwards Lifesciences news, VP Donald E. Bobo, Jr. sold 2,570 shares of the business’s stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $77.40, for a total transaction of $198,918.00. Following the completion of the sale, the vice president directly owned 50,356 shares in the company, valued at $3,897,554.40. The trade was a 4.86% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Scott B. Ullem sold 11,250 shares of the company’s stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $74.40, for a total transaction of $837,000.00. Following the sale, the chief financial officer directly owned 41,098 shares of the company’s stock, valued at $3,057,691.20. The trade was a 21.49% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 40,648 shares of company stock valued at $2,998,866 over the last ninety days. 0.34% of the stock is owned by insiders.

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.