Kingswood Wealth Advisors LLC Reduces Stock Position in Edwards Lifesciences Co. (NYSE:EW)

Kingswood Wealth Advisors LLC trimmed its stake in shares of Edwards Lifesciences Co. (NYSE:EW) by 1.8% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,754 shares of the medical research company’s stock after selling 230 shares during the period. Kingswood Wealth Advisors LLC’s holdings in Edwards Lifesciences were worth $1,219,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Norges Bank purchased a new stake in Edwards Lifesciences during the fourth quarter valued at approximately $648,540,000. Brown Advisory Inc. lifted its position in Edwards Lifesciences by 20.1% during the fourth quarter. Brown Advisory Inc. now owns 18,181,420 shares of the medical research company’s stock valued at $1,386,333,000 after purchasing an additional 3,048,274 shares in the last quarter. CIBC Private Wealth Group LLC grew its holdings in Edwards Lifesciences by 197.0% during the fourth quarter. CIBC Private Wealth Group LLC now owns 3,446,758 shares of the medical research company’s stock valued at $262,815,000 after purchasing an additional 2,286,119 shares during the period. AustralianSuper Pty Ltd purchased a new stake in Edwards Lifesciences in the fourth quarter worth about $168,519,000. Finally, Sands Capital Management LLC raised its stake in shares of Edwards Lifesciences by 34.6% in the fourth quarter. Sands Capital Management LLC now owns 6,103,702 shares of the medical research company’s stock worth $465,407,000 after buying an additional 1,567,526 shares during the period. Institutional investors own 79.46% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on EW. StockNews.com lowered shares of Edwards Lifesciences from a “buy” rating to a “hold” rating in a report on Tuesday, June 18th. Piper Sandler increased their price target on Edwards Lifesciences from $85.00 to $88.00 and gave the stock a “neutral” rating in a research note on Friday, April 26th. Morgan Stanley raised their price target on Edwards Lifesciences from $95.00 to $103.00 and gave the company an “overweight” rating in a report on Thursday, March 21st. Citigroup raised Edwards Lifesciences from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $98.00 to $105.00 in a research note on Wednesday, May 22nd. Finally, The Goldman Sachs Group assumed coverage on Edwards Lifesciences in a report on Thursday, May 30th. They issued a “buy” rating and a $107.00 price target on the stock. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $95.06.

Insider Activity at Edwards Lifesciences

In other news, VP Jean-Luc M. Lemercier sold 14,400 shares of Edwards Lifesciences stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $84.21, for a total transaction of $1,212,624.00. Following the completion of the sale, the vice president now directly owns 173,849 shares in the company, valued at $14,639,824.29. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, CFO Scott B. Ullem sold 7,255 shares of the company’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $94.89, for a total value of $688,426.95. Following the sale, the chief financial officer now directly owns 19,074 shares of the company’s stock, valued at approximately $1,809,931.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Jean-Luc M. Lemercier sold 14,400 shares of Edwards Lifesciences stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $84.21, for a total transaction of $1,212,624.00. Following the transaction, the vice president now directly owns 173,849 shares of the company’s stock, valued at $14,639,824.29. The disclosure for this sale can be found here. Insiders have sold 127,104 shares of company stock valued at $11,267,464 in the last ninety days. Corporate insiders own 1.27% of the company’s stock.

Edwards Lifesciences Trading Up 1.0 %

Shares of NYSE EW traded up $0.94 during midday trading on Tuesday, hitting $91.11. The company’s stock had a trading volume of 2,747,592 shares, compared to its average volume of 3,411,798. The business’s 50 day moving average is $87.50 and its two-hundred day moving average is $84.95. Edwards Lifesciences Co. has a 12-month low of $60.57 and a 12-month high of $96.12. The company has a current ratio of 3.75, a quick ratio of 2.67 and a debt-to-equity ratio of 0.08. The firm has a market cap of $54.90 billion, a P/E ratio of 39.27, a price-to-earnings-growth ratio of 3.33 and a beta of 1.11.

Edwards Lifesciences (NYSE:EW) last issued its earnings results on Thursday, April 25th. The medical research company reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.02. Edwards Lifesciences had a net margin of 23.01% and a return on equity of 22.86%. The firm had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.58 billion. As a group, equities research analysts expect that Edwards Lifesciences Co. will post 2.77 EPS for the current year.

About Edwards Lifesciences

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.