Avalon Capital Management Trims Holdings in Edwards Lifesciences Co. (NYSE:EW)

Avalon Capital Management decreased its stake in shares of Edwards Lifesciences Co. (NYSE:EW) by 5.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,479 shares of the medical research company’s stock after selling 235 shares during the quarter. Avalon Capital Management’s holdings in Edwards Lifesciences were worth $332,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Wellington Management Group LLP grew its stake in shares of Edwards Lifesciences by 86.3% in the third quarter. Wellington Management Group LLP now owns 31,532,725 shares of the medical research company’s stock valued at $2,080,845,000 after buying an additional 14,610,123 shares in the last quarter. State Street Corp grew its stake in shares of Edwards Lifesciences by 1.0% in the third quarter. State Street Corp now owns 26,265,633 shares of the medical research company’s stock valued at $1,733,270,000 after buying an additional 256,538 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Edwards Lifesciences by 2.2% in the third quarter. Geode Capital Management LLC now owns 13,521,147 shares of the medical research company’s stock valued at $889,050,000 after buying an additional 284,918 shares in the last quarter. Fisher Asset Management LLC grew its stake in Edwards Lifesciences by 9.8% during the 3rd quarter. Fisher Asset Management LLC now owns 9,078,311 shares of the medical research company’s stock worth $599,078,000 after purchasing an additional 806,705 shares in the last quarter. Finally, Jennison Associates LLC acquired a new position in Edwards Lifesciences during the 4th quarter worth $555,939,000. Hedge funds and other institutional investors own 79.46% of the company’s stock.

Edwards Lifesciences Price Performance

Shares of Edwards Lifesciences stock opened at $72.72 on Tuesday. Edwards Lifesciences Co. has a twelve month low of $58.93 and a twelve month high of $96.12. The stock has a market capitalization of $42.89 billion, a P/E ratio of 10.43, a PEG ratio of 4.82 and a beta of 1.11. The company has a current ratio of 3.46, a quick ratio of 2.89 and a debt-to-equity ratio of 0.06. The business’s fifty day moving average price is $72.83 and its 200 day moving average price is $70.13.

Edwards Lifesciences (NYSE:EW) last issued its quarterly earnings data on Tuesday, February 11th. The medical research company reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.04. Edwards Lifesciences had a return on equity of 19.40% and a net margin of 72.93%. As a group, research analysts anticipate that Edwards Lifesciences Co. will post 2.45 earnings per share for the current year.

Wall Street Analysts Forecast Growth

EW has been the subject of a number of recent analyst reports. Piper Sandler lifted their price target on Edwards Lifesciences from $70.00 to $73.00 and gave the stock a “neutral” rating in a report on Wednesday, February 12th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $85.00 price target on shares of Edwards Lifesciences in a report on Wednesday, February 12th. Evercore ISI decreased their price target on Edwards Lifesciences from $75.00 to $73.00 and set an “in-line” rating for the company in a report on Wednesday, February 12th. Daiwa America downgraded Edwards Lifesciences from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 30th. Finally, Barclays upped their target price on Edwards Lifesciences from $88.00 to $90.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Edwards Lifesciences has a consensus rating of “Hold” and a consensus price target of $79.95.

Insider Activity at Edwards Lifesciences

In other Edwards Lifesciences news, CFO Scott B. Ullem sold 11,250 shares of Edwards Lifesciences stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $75.76, for a total value of $852,300.00. Following the completion of the transaction, the chief financial officer now directly owns 30,561 shares in the company, valued at $2,315,301.36. The trade was a 26.91 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Daniel J. Lippis sold 500 shares of Edwards Lifesciences stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $68.76, for a total value of $34,380.00. Following the completion of the transaction, the vice president now owns 23,189 shares of the company’s stock, valued at approximately $1,594,475.64. The trade was a 2.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 26,489 shares of company stock valued at $2,002,829 over the last three months. 1.29% of the stock is owned by insiders.

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.