Public Employees Retirement System of Ohio Reduces Stock Holdings in Edwards Lifesciences Co. (NYSE:EW)

Public Employees Retirement System of Ohio decreased its position in Edwards Lifesciences Co. (NYSE:EW) by 19.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 293,331 shares of the medical research company’s stock after selling 71,277 shares during the period. Public Employees Retirement System of Ohio’s holdings in Edwards Lifesciences were worth $28,031,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. DSM Capital Partners LLC purchased a new stake in shares of Edwards Lifesciences during the fourth quarter worth $28,000. Crewe Advisors LLC purchased a new stake in shares of Edwards Lifesciences during the first quarter worth $28,000. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Edwards Lifesciences during the fourth quarter worth $34,000. Riverview Trust Co purchased a new stake in shares of Edwards Lifesciences during the first quarter worth $34,000. Finally, Pingora Partners LLC purchased a new stake in shares of Edwards Lifesciences during the fourth quarter worth $38,000. Hedge funds and other institutional investors own 79.46% of the company’s stock.

Insiders Place Their Bets

In other Edwards Lifesciences news, VP Donald E. Bobo, Jr. sold 5,000 shares of Edwards Lifesciences stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $93.29, for a total value of $466,450.00. Following the completion of the sale, the vice president now owns 46,936 shares of the company’s stock, valued at approximately $4,378,659.44. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CFO Scott B. Ullem sold 5,625 shares of the business’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $90.45, for a total transaction of $508,781.25. Following the completion of the sale, the chief financial officer now owns 30,561 shares of the company’s stock, valued at approximately $2,764,242.45. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Donald E. Bobo, Jr. sold 5,000 shares of the business’s stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $93.29, for a total transaction of $466,450.00. Following the sale, the vice president now directly owns 46,936 shares of the company’s stock, valued at approximately $4,378,659.44. The disclosure for this sale can be found here. In the last quarter, insiders sold 81,099 shares of company stock valued at $7,003,553. Company insiders own 1.29% of the company’s stock.

Edwards Lifesciences Stock Up 2.3 %

Shares of EW stock traded up $1.45 during trading hours on Monday, hitting $63.82. 7,663,560 shares of the company’s stock traded hands, compared to its average volume of 3,798,484. The stock’s fifty day simple moving average is $87.98 and its two-hundred day simple moving average is $86.99. Edwards Lifesciences Co. has a 12-month low of $58.93 and a 12-month high of $96.12. The stock has a market cap of $38.46 billion, a price-to-earnings ratio of 27.54, a PEG ratio of 2.33 and a beta of 1.11. The company has a quick ratio of 2.87, a current ratio of 3.71 and a debt-to-equity ratio of 0.08.

Edwards Lifesciences (NYSE:EW) last announced its quarterly earnings results on Wednesday, July 24th. The medical research company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.01. The company had revenue of $1.63 billion during 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 firm’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.66 earnings per share. On average, analysts expect that Edwards Lifesciences Co. will post 2.71 EPS for the current year.

Analyst Ratings Changes

EW has been the topic of a number of recent analyst reports. TD Cowen downgraded Edwards Lifesciences from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $100.00 to $70.00 in a research report on Thursday. Oppenheimer lowered their price objective on Edwards Lifesciences from $100.00 to $90.00 and set an “outperform” rating on the stock in a research report on Thursday. Canaccord Genuity Group reduced their target price on Edwards Lifesciences from $85.00 to $77.00 and set a “hold” rating on the stock in a research note on Thursday. Stifel Nicolaus reduced their target price on Edwards Lifesciences from $85.00 to $70.00 and set a “hold” rating on the stock in a research note on Thursday. Finally, Wells Fargo & Company reduced their target price on Edwards Lifesciences from $99.00 to $90.00 and set an “overweight” rating on the stock in a research note on Thursday. Fourteen equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Edwards Lifesciences presently has an average rating of “Hold” and an average price target of $82.10.

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.