Tobam Has $245,000 Stock Holdings in Edwards Lifesciences Co. (NYSE:EW)

Tobam lessened its holdings in Edwards Lifesciences Co. (NYSE:EW) by 36.7% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,648 shares of the medical research company’s stock after selling 1,536 shares during the period. Tobam’s holdings in Edwards Lifesciences were worth $245,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of EW. Norges Bank bought a new position in shares of Edwards Lifesciences during the fourth quarter worth $648,540,000. Brown Advisory Inc. raised its holdings in Edwards Lifesciences by 20.1% in the 4th quarter. Brown Advisory Inc. now owns 18,181,420 shares of the medical research company’s stock valued at $1,386,333,000 after acquiring an additional 3,048,274 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in Edwards Lifesciences by 57.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,516,260 shares of the medical research company’s stock valued at $622,695,000 after acquiring an additional 2,390,137 shares during the period. CIBC Private Wealth Group LLC grew its position in shares of Edwards Lifesciences by 197.0% during the 4th quarter. CIBC Private Wealth Group LLC now owns 3,446,758 shares of the medical research company’s stock worth $262,815,000 after purchasing an additional 2,286,119 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of Edwards Lifesciences by 9.5% during the 1st quarter. Bank of New York Mellon Corp now owns 18,973,304 shares of the medical research company’s stock worth $1,813,089,000 after acquiring an additional 1,644,869 shares in the last quarter. Institutional investors and hedge funds own 79.46% of the company’s stock.

Insider Transactions at Edwards Lifesciences

In other news, VP Donald E. Bobo, Jr. sold 5,000 shares of the stock in a transaction dated Wednesday, July 10th. The stock was 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 in the company, valued at $4,378,659.44. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, VP Daveen Chopra sold 1,250 shares of Edwards Lifesciences stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $69.95, for a total value of $87,437.50. Following the completion of the transaction, the vice president now owns 29,333 shares in the company, valued at approximately $2,051,843.35. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Donald E. Bobo, Jr. sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 10th. The stock was 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 directly owns 46,936 shares in the company, valued at approximately $4,378,659.44. The disclosure for this sale can be found here. Insiders have sold a total of 16,250 shares of company stock worth $1,321,988 in the last three months. 1.29% of the stock is currently owned by company insiders.

Edwards Lifesciences Price Performance

Edwards Lifesciences stock traded down $0.24 during trading hours on Friday, hitting $69.88. The stock had a trading volume of 2,366,127 shares, compared to its average volume of 4,103,248. 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 stock has a market capitalization of $42.11 billion, a price-to-earnings ratio of 30.36, a PEG ratio of 2.57 and a beta of 1.11. Edwards Lifesciences Co. has a 1-year low of $58.93 and a 1-year high of $96.12. The stock’s fifty day moving average is $77.91 and its two-hundred day moving average is $85.02.

Edwards Lifesciences (NYSE:EW) last posted its quarterly earnings data on Wednesday, July 24th. The medical research company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.01. Edwards Lifesciences had a return on equity of 22.35% and a net margin of 24.55%. The business had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.65 billion. During the same quarter last year, the company earned $0.66 earnings per share. The business’s revenue for the quarter was up 6.7% compared to the same quarter last year. As a group, analysts predict that Edwards Lifesciences Co. will post 2.71 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on EW shares. Wolfe Research raised shares of Edwards Lifesciences from an “underperform” rating to a “peer perform” rating in a research note on Monday, July 29th. StockNews.com lowered shares of Edwards Lifesciences from a “buy” rating to a “hold” rating in a research report on Thursday, July 25th. JPMorgan Chase & Co. lowered shares of Edwards Lifesciences from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $105.00 to $72.00 in a report on Thursday, July 25th. Wells Fargo & Company cut their price target on shares of Edwards Lifesciences from $99.00 to $90.00 and set an “overweight” rating for the company in a research note on Thursday, July 25th. Finally, Baird R W cut shares of Edwards Lifesciences from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 25th. Fourteen analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $82.10.

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.