Nixon Peabody Trust Co. Reduces Stock Holdings in Edwards Lifesciences Co. (NYSE:EW)

Nixon Peabody Trust Co. cut its holdings in Edwards Lifesciences Co. (NYSE:EW) by 6.7% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 7,647 shares of the medical research company’s stock after selling 550 shares during the quarter. Nixon Peabody Trust Co.’s holdings in Edwards Lifesciences were worth $505,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Avantax Advisory Services Inc. increased its stake in Edwards Lifesciences by 4.1% during the 1st quarter. Avantax Advisory Services Inc. now owns 6,887 shares of the medical research company’s stock valued at $658,000 after purchasing an additional 272 shares in the last quarter. M&G Plc purchased a new position in Edwards Lifesciences in the 1st quarter worth $853,000. O Shaughnessy Asset Management LLC lifted its position in Edwards Lifesciences by 27.3% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 36,897 shares of the medical research company’s stock worth $3,526,000 after acquiring an additional 7,918 shares during the period. Seven Eight Capital LP grew its stake in Edwards Lifesciences by 2.6% during the 1st quarter. Seven Eight Capital LP now owns 17,613 shares of the medical research company’s stock valued at $1,683,000 after purchasing an additional 441 shares during the last quarter. Finally, Lake Street Advisors Group LLC increased its holdings in shares of Edwards Lifesciences by 36.2% in the first quarter. Lake Street Advisors Group LLC now owns 3,573 shares of the medical research company’s stock valued at $341,000 after purchasing an additional 950 shares during the period. Institutional investors and hedge funds own 79.46% of the company’s stock.

Insider Buying and Selling

In other Edwards Lifesciences news, VP Daveen Chopra sold 1,250 shares of the company’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $69.95, for a total transaction of $87,437.50. Following the sale, the vice president now owns 29,333 shares in the company, valued at $2,051,843.35. This represents a 4.09 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Larry L. Wood sold 25,000 shares of Edwards Lifesciences stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $65.91, for a total value of $1,647,750.00. Following the completion of the transaction, the insider now owns 198,526 shares of the company’s stock, valued at $13,084,848.66. The trade was a 11.18 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 41,250 shares of company stock valued at $2,744,438 in the last ninety days. Company insiders own 1.29% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on EW. Bank of America lowered Edwards Lifesciences from a “buy” rating to a “neutral” rating and dropped their target price for the company from $105.00 to $75.00 in a research report on Thursday, July 25th. Royal Bank of Canada lowered their target price on shares of Edwards Lifesciences from $85.00 to $75.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 8th. Baird R W lowered Edwards Lifesciences from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft cut their price target on shares of Edwards Lifesciences from $103.00 to $85.00 and set a “buy” rating for the company in a report on Thursday, July 25th. Finally, UBS Group reduced their price objective on shares of Edwards Lifesciences from $90.00 to $75.00 and set a “neutral” rating for the company in a research report on Tuesday, September 10th. Seventeen investment 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, Edwards Lifesciences has an average rating of “Hold” and an average target price of $75.67.

Edwards Lifesciences Trading Up 1.6 %

Shares of EW stock traded up $1.06 during trading hours on Monday, hitting $68.82. The company had a trading volume of 184,235 shares, compared to its average volume of 4,623,410. Edwards Lifesciences Co. has a fifty-two week low of $58.93 and a fifty-two week high of $96.12. The company’s fifty day moving average is $67.44 and its 200 day moving average is $76.12. The stock has a market capitalization of $40.59 billion, a PE ratio of 9.78, a price-to-earnings-growth ratio of 3.81 and a beta of 1.12. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.46 and a quick ratio of 2.89.

Edwards Lifesciences (NYSE:EW) last announced its earnings results on Thursday, October 24th. The medical research company reported $0.67 EPS for the quarter, meeting analysts’ consensus estimates of $0.67. The company had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.57 billion. Edwards Lifesciences had a return on equity of 20.76% and a net margin of 70.82%. Edwards Lifesciences’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same period last year, the business posted $0.59 EPS. Research analysts expect that Edwards Lifesciences Co. will post 2.57 earnings per share for the current fiscal 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.