Huntington National Bank Lowers Holdings in Edwards Lifesciences Co. (NYSE:EW)

Huntington National Bank reduced its position in shares of Edwards Lifesciences Co. (NYSE:EW) by 8.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 221,147 shares of the medical research company’s stock after selling 20,919 shares during the period. Huntington National Bank’s holdings in Edwards Lifesciences were worth $14,594,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Cetera Advisors LLC raised its stake in Edwards Lifesciences by 175.1% in the first quarter. Cetera Advisors LLC now owns 38,090 shares of the medical research company’s stock valued at $3,640,000 after purchasing an additional 24,242 shares in the last quarter. BDF Gestion purchased a new stake in shares of Edwards Lifesciences during the 2nd quarter valued at $5,148,000. Tidal Investments LLC lifted its holdings in shares of Edwards Lifesciences by 54.7% during the 1st quarter. Tidal Investments LLC now owns 30,245 shares of the medical research company’s stock worth $2,890,000 after acquiring an additional 10,700 shares during the last quarter. Raymond James & Associates grew its position in Edwards Lifesciences by 2.8% in the second quarter. Raymond James & Associates now owns 1,825,230 shares of the medical research company’s stock worth $168,597,000 after acquiring an additional 50,124 shares in the last quarter. Finally, AIA Group Ltd increased its stake in Edwards Lifesciences by 91.7% in the third quarter. AIA Group Ltd now owns 749,524 shares of the medical research company’s stock valued at $49,461,000 after acquiring an additional 358,556 shares during the last quarter. Institutional investors own 79.46% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on EW shares. Morgan Stanley reaffirmed an “equal weight” rating and set a $70.00 price target on shares of Edwards Lifesciences in a research note on Friday, October 11th. Robert W. Baird dropped their target price on Edwards Lifesciences from $73.00 to $68.00 and set a “neutral” rating for the company in a research report on Friday, October 25th. Barclays reduced their price target on shares of Edwards Lifesciences from $90.00 to $80.00 and set an “overweight” rating on the stock in a research report on Monday, September 9th. JPMorgan Chase & Co. boosted their price objective on shares of Edwards Lifesciences from $72.00 to $78.00 and gave the stock a “neutral” rating in a report on Friday, October 25th. Finally, Canaccord Genuity Group cut their price objective on shares of Edwards Lifesciences from $66.00 to $63.00 and set a “hold” rating for the company in a research note on Friday, October 25th. Seventeen analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $75.67.

Edwards Lifesciences Stock Performance

Edwards Lifesciences stock opened at $66.15 on Friday. The stock has a market cap of $39.02 billion, a price-to-earnings ratio of 9.55, a PEG ratio of 3.70 and a beta of 1.12. The stock’s 50 day simple moving average is $67.42 and its two-hundred day simple moving average is $76.44. Edwards Lifesciences Co. has a fifty-two week low of $58.93 and a fifty-two week high of $96.12. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.89 and a current ratio of 3.46.

Edwards Lifesciences (NYSE:EW) last announced its quarterly earnings data on Thursday, October 24th. The medical research company reported $0.67 EPS for the quarter, meeting the consensus estimate of $0.67. The business had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.57 billion. Edwards Lifesciences had a return on equity of 20.76% and a net margin of 70.82%. The company’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.59 earnings per share. As a group, analysts expect that Edwards Lifesciences Co. will post 2.57 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, VP Daveen Chopra sold 1,250 shares of the firm’s stock in a transaction 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 transaction, the vice president now directly owns 29,333 shares in the company, valued at $2,051,843.35. This trade represents a 4.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Donald E. Bobo, Jr. sold 5,000 shares of the company’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $69.51, for a total transaction of $347,550.00. Following the completion of the transaction, the vice president now owns 46,936 shares in the company, valued at approximately $3,262,521.36. The trade was a 9.63 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 41,250 shares of company stock worth $2,744,438. 1.29% of the stock is currently owned by company 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.