Waycross Partners LLC Sells 7,447 Shares of Edwards Lifesciences Co. (NYSE:EW)

Waycross Partners LLC lessened its stake in shares of Edwards Lifesciences Co. (NYSE:EW) by 5.7% during the 4th quarter, HoldingsChannel reports. The firm owned 123,321 shares of the medical research company’s stock after selling 7,447 shares during the quarter. Edwards Lifesciences comprises 1.8% of Waycross Partners LLC’s holdings, making the stock its 26th biggest position. Waycross Partners LLC’s holdings in Edwards Lifesciences were worth $9,403,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. Sumitomo Life Insurance Co. increased its position in Edwards Lifesciences by 3.4% in the third quarter. Sumitomo Life Insurance Co. now owns 25,516 shares of the medical research company’s stock worth $1,768,000 after purchasing an additional 833 shares during the period. Commonwealth Equity Services LLC grew its holdings in Edwards Lifesciences by 7.3% in the 3rd quarter. Commonwealth Equity Services LLC now owns 163,984 shares of the medical research company’s stock valued at $11,361,000 after buying an additional 11,117 shares in the last quarter. Suncoast Equity Management grew its holdings in Edwards Lifesciences by 3.6% in the 3rd quarter. Suncoast Equity Management now owns 8,450 shares of the medical research company’s stock valued at $585,000 after buying an additional 295 shares in the last quarter. Litman Gregory Wealth Management LLC bought a new stake in shares of Edwards Lifesciences during the 3rd quarter valued at $8,691,000. Finally, Cambridge Investment Research Advisors Inc. lifted its position in shares of Edwards Lifesciences by 2.6% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 39,392 shares of the medical research company’s stock valued at $2,729,000 after acquiring an additional 1,011 shares during the period. 79.46% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Bank of America raised Edwards Lifesciences from a “neutral” rating to a “buy” rating in a research note on Thursday, March 7th. Citigroup raised their target price on Edwards Lifesciences from $90.00 to $98.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 3rd. Piper Sandler lifted their price target on Edwards Lifesciences from $85.00 to $88.00 and gave the company a “neutral” rating in a research report on Friday. Stifel Nicolaus boosted their target price on Edwards Lifesciences from $83.00 to $85.00 and gave the stock a “hold” rating in a research report on Friday. Finally, Morgan Stanley boosted their target price on Edwards Lifesciences from $95.00 to $103.00 and gave the company an “overweight” rating in a research note on Thursday, March 21st. One analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $92.71.

Insider Activity at Edwards Lifesciences

In related news, CFO Scott B. Ullem sold 7,255 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $94.89, for a total value of $688,426.95. Following the completion of the transaction, the chief financial officer now owns 19,074 shares of the company’s stock, valued at $1,809,931.86. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Edwards Lifesciences news, CFO Scott B. Ullem sold 7,255 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $94.89, for a total value of $688,426.95. Following the transaction, the chief financial officer now directly owns 19,074 shares of the company’s stock, valued at $1,809,931.86. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Daniel J. Lippis sold 1,715 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $90.98, for a total value of $156,030.70. Following the transaction, the vice president now directly owns 17,213 shares in the company, valued at $1,566,038.74. The disclosure for this sale can be found here. Over the last three months, insiders sold 201,254 shares of company stock valued at $17,788,304. 1.27% of the stock is owned by corporate insiders.

Edwards Lifesciences Stock Performance

Shares of Edwards Lifesciences stock traded down $1.27 on Tuesday, reaching $84.68. The stock had a trading volume of 3,097,272 shares, compared to its average volume of 3,828,306. The stock has a market cap of $50.97 billion, a P/E ratio of 36.50, a price-to-earnings-growth ratio of 4.28 and a beta of 1.05. Edwards Lifesciences Co. has a fifty-two week low of $60.57 and a fifty-two week high of $96.12. The business’s 50-day moving average price is $90.23 and its two-hundred day moving average price is $79.16. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.67 and a current ratio of 3.75.

Edwards Lifesciences (NYSE:EW) last issued its quarterly earnings data on Thursday, April 25th. The medical research company reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.02. The firm had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.58 billion. Edwards Lifesciences had a net margin of 23.01% and a return on equity of 22.86%. On average, sell-side analysts forecast that Edwards Lifesciences Co. will post 2.76 EPS for the current year.

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.