Brown Capital Management LLC Sells 18,661 Shares of Edwards Lifesciences Co. (NYSE:EW)

Brown Capital Management LLC lessened its holdings in shares of Edwards Lifesciences Co. (NYSE:EW) by 53.1% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 16,510 shares of the medical research company’s stock after selling 18,661 shares during the quarter. Brown Capital Management LLC’s holdings in Edwards Lifesciences were worth $1,089,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Integrated Investment Consultants LLC acquired a new position in Edwards Lifesciences during the third quarter worth $1,063,000. Intech Investment Management LLC grew its holdings in Edwards Lifesciences by 324.2% in the 3rd quarter. Intech Investment Management LLC now owns 398,625 shares of the medical research company’s stock valued at $26,305,000 after buying an additional 304,645 shares in the last quarter. Advisors Asset Management Inc. increased its holdings in shares of Edwards Lifesciences by 7.7% during the third quarter. Advisors Asset Management Inc. now owns 11,856 shares of the medical research company’s stock worth $782,000 after purchasing an additional 852 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Edwards Lifesciences by 32.1% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 213,700 shares of the medical research company’s stock worth $14,102,000 after purchasing an additional 51,896 shares during the period. Finally, Howe & Rusling Inc. increased its stake in Edwards Lifesciences by 25.6% in the third quarter. Howe & Rusling Inc. now owns 91,618 shares of the medical research company’s stock valued at $6,046,000 after acquiring an additional 18,648 shares during the last quarter. Institutional investors own 79.46% of the company’s stock.

Edwards Lifesciences Trading Down 0.9 %

Shares of NYSE EW opened at $69.54 on Thursday. The stock has a market cap of $41.01 billion, a P/E ratio of 10.03, a price-to-earnings-growth ratio of 3.95 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 Co. has a 1 year low of $58.93 and a 1 year high of $96.12. The firm has a 50-day moving average of $67.61 and a 200 day moving average of $75.87.

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 analysts’ consensus estimates of $0.67. Edwards Lifesciences had a return on equity of 20.76% and a net margin of 70.82%. The firm had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.57 billion. During the same period in the previous year, the firm posted $0.59 EPS. The business’s revenue for the quarter was up 8.9% compared to the same quarter last year. As a group, sell-side analysts expect that Edwards Lifesciences Co. will post 2.57 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently issued reports on EW. Stifel Nicolaus dropped their price target on shares of Edwards Lifesciences from $85.00 to $70.00 and set a “hold” rating for the company in a research note on Thursday, July 25th. Barclays cut their target price on Edwards Lifesciences from $90.00 to $80.00 and set an “overweight” rating on the stock in a research report on Monday, September 9th. Wolfe Research upgraded Edwards Lifesciences from an “underperform” rating to a “peer perform” rating in a research note on Monday, July 29th. The Goldman Sachs Group decreased their price objective on Edwards Lifesciences from $107.00 to $91.00 and set a “buy” rating for the company in a report on Friday, July 26th. Finally, TD Cowen cut Edwards Lifesciences from a “buy” rating to a “hold” rating and decreased their price target for the company from $100.00 to $70.00 in a research report on Thursday, July 25th. Seventeen equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $75.67.

Insider Transactions at Edwards Lifesciences

In other news, insider Larry L. Wood sold 25,000 shares of the company’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $65.91, for a total transaction of $1,647,750.00. Following the transaction, the insider now directly owns 198,526 shares of the company’s stock, valued at $13,084,848.66. This represents a 11.18 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Donald E. Bobo, Jr. sold 5,000 shares of the stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $65.57, for a total value of $327,850.00. Following the sale, the vice president now directly owns 46,936 shares in the company, valued at $3,077,593.52. This trade represents a 9.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 40,000 shares of company stock valued at $2,657,000. Insiders own 1.29% of the company’s stock.

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.