Bridges Investment Management Inc. Sells 58,619 Shares of Edwards Lifesciences Co. (NYSE:EW)

Bridges Investment Management Inc. lowered its position in Edwards Lifesciences Co. (NYSE:EW) by 77.9% during the third quarter, Holdings Channel reports. The institutional investor owned 16,628 shares of the medical research company’s stock after selling 58,619 shares during the quarter. Bridges Investment Management Inc.’s holdings in Edwards Lifesciences were worth $1,097,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of EW. Townsend & Associates Inc grew its stake in Edwards Lifesciences by 5.1% during the 3rd quarter. Townsend & Associates Inc now owns 174,978 shares of the medical research company’s stock worth $12,355,000 after buying an additional 8,441 shares during the last quarter. Washington Trust Advisors Inc. boosted its holdings in Edwards Lifesciences by 25.5% in the third quarter. Washington Trust Advisors Inc. now owns 115,660 shares of the medical research company’s stock worth $7,632,000 after acquiring an additional 23,489 shares in the last quarter. Seascape Capital Management grew its stake in shares of Edwards Lifesciences by 0.5% during the third quarter. Seascape Capital Management now owns 32,989 shares of the medical research company’s stock worth $2,177,000 after acquiring an additional 174 shares during the last quarter. Equitable Trust Co. increased its holdings in shares of Edwards Lifesciences by 379.7% during the third quarter. Equitable Trust Co. now owns 65,888 shares of the medical research company’s stock valued at $4,348,000 after acquiring an additional 52,154 shares in the last quarter. Finally, Leavell Investment Management Inc. raised its position in shares of Edwards Lifesciences by 3.3% in the 3rd quarter. Leavell Investment Management Inc. now owns 9,923 shares of the medical research company’s stock valued at $655,000 after purchasing an additional 321 shares during the last quarter. Institutional investors own 79.46% of the company’s stock.

Edwards Lifesciences Stock Up 0.6 %

Edwards Lifesciences stock opened at $66.23 on Friday. Edwards Lifesciences Co. has a 12 month low of $58.93 and a 12 month high of $96.12. The stock has a market capitalization of $39.06 billion, a PE ratio of 9.56, a price-to-earnings-growth ratio of 3.70 and a beta of 1.12. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.71 and a quick ratio of 2.87. The business has a 50 day simple moving average of $67.59 and a 200-day simple moving average of $76.96.

Edwards Lifesciences (NYSE:EW) last issued its quarterly earnings results on Thursday, October 24th. The medical research company reported $0.67 EPS for the quarter, hitting the consensus estimate of $0.67. The company had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.57 billion. Edwards Lifesciences had a net margin of 70.82% and a return on equity of 22.56%. The firm’s revenue was up 8.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.59 EPS. On average, analysts anticipate that Edwards Lifesciences Co. will post 2.57 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

EW has been the topic of a number of recent analyst reports. TD Cowen lowered shares of Edwards Lifesciences from a “buy” rating to a “hold” rating and cut their price target for the company from $100.00 to $70.00 in a research note on Thursday, July 25th. Morgan Stanley restated an “equal weight” rating and issued a $70.00 target price on shares of Edwards Lifesciences in a research note on Friday, October 11th. Wells Fargo & Company dropped their price target on Edwards Lifesciences from $90.00 to $80.00 and set an “overweight” rating on the stock in a research note on Monday, September 9th. Baird R W cut Edwards Lifesciences from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 25th. Finally, Canaccord Genuity Group decreased their target price on Edwards Lifesciences from $66.00 to $63.00 and set a “hold” rating for the company in a report on Friday, October 25th. Seventeen investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, Edwards Lifesciences has an average rating of “Hold” and a consensus price target of $75.67.

Insider Buying and Selling

In related news, insider Larry L. Wood sold 25,000 shares of the firm’s 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 transaction, the insider now directly owns 198,526 shares of the company’s stock, valued at approximately $13,084,848.66. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, VP Daveen Chopra sold 1,250 shares of the business’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $69.95, for a total transaction of $87,437.50. Following the completion of the sale, the vice president now directly owns 29,333 shares in the company, valued at approximately $2,051,843.35. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Larry L. Wood sold 25,000 shares of the firm’s stock in a transaction on 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 in the company, valued at $13,084,848.66. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 41,250 shares of company stock worth $2,746,988 in the last 90 days. Insiders own 1.29% of the company’s stock.

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.