Benin Management CORP Decreases Position in Edwards Lifesciences Co. (NYSE:EW)

Benin Management CORP trimmed its holdings in shares of Edwards Lifesciences Co. (NYSE:EW) by 6.9% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 4,743 shares of the medical research company’s stock after selling 350 shares during the period. Benin Management CORP’s holdings in Edwards Lifesciences were worth $313,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Crewe Advisors LLC bought a new stake in Edwards Lifesciences during the 1st quarter valued at $28,000. First Community Trust NA bought a new position in shares of Edwards Lifesciences during the second quarter valued at about $29,000. Riverview Trust Co purchased a new stake in shares of Edwards Lifesciences during the first quarter worth about $34,000. Webster Bank N. A. bought a new stake in shares of Edwards Lifesciences in the second quarter worth about $39,000. Finally, Peoples Bank KS purchased a new position in Edwards Lifesciences during the 3rd quarter valued at about $40,000. 79.46% of the stock is owned by institutional investors.

Edwards Lifesciences Stock Performance

Shares of NYSE:EW traded down $0.97 during midday trading on Monday, reaching $69.30. 1,124,348 shares of the company’s stock traded hands, compared to its average volume of 4,554,723. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.87 and a current ratio of 3.71. Edwards Lifesciences Co. has a one year low of $58.93 and a one year high of $96.12. The company has a market cap of $41.76 billion, a price-to-earnings ratio of 30.29, a P/E/G ratio of 2.83 and a beta of 1.13. The stock has a 50 day moving average of $67.81 and a 200 day moving average of $79.08.

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on EW. The Goldman Sachs Group cut their price objective on Edwards Lifesciences from $107.00 to $91.00 and set a “buy” rating on the stock in a research report on Friday, July 26th. Stifel Nicolaus reduced their price objective on shares of Edwards Lifesciences from $85.00 to $70.00 and set a “hold” rating on the stock in a research report on Thursday, July 25th. Evercore ISI dropped their target price on shares of Edwards Lifesciences from $76.00 to $70.00 and set an “in-line” rating for the company in a research report on Tuesday, October 1st. UBS Group reduced their price target on shares of Edwards Lifesciences from $90.00 to $75.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 10th. Finally, StockNews.com lowered Edwards Lifesciences from a “buy” rating to a “hold” rating in a research report on Thursday, July 25th. Fifteen analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $75.81.

Insider Buying and Selling

In other Edwards Lifesciences news, VP Donald E. Bobo, Jr. sold 5,000 shares of the business’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $66.08, for a total transaction of $330,400.00. Following the completion of the sale, the vice president now directly owns 46,936 shares in the company, valued at approximately $3,101,530.88. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, VP Daveen Chopra sold 1,250 shares of the firm’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $69.95, for a total value of $87,437.50. Following the transaction, the vice president now owns 29,333 shares of the company’s stock, valued at approximately $2,051,843.35. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Donald E. Bobo, Jr. sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $66.08, for a total transaction of $330,400.00. Following the sale, the vice president now directly owns 46,936 shares of the company’s stock, valued at approximately $3,101,530.88. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 16,250 shares of company stock worth $1,099,238. 1.29% of the stock is owned by insiders.

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.