Financial Management Network Inc. Cuts Position in Edwards Lifesciences Co. (NYSE:EW)

Financial Management Network Inc. lessened its holdings in Edwards Lifesciences Co. (NYSE:EW) by 1.7% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,637 shares of the medical research company’s stock after selling 150 shares during the period. Financial Management Network Inc.’s holdings in Edwards Lifesciences were worth $638,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Wellington Management Group LLP boosted its stake in shares of Edwards Lifesciences by 86.3% in the 3rd quarter. Wellington Management Group LLP now owns 31,532,725 shares of the medical research company’s stock worth $2,080,845,000 after buying an additional 14,610,123 shares during the last quarter. State Street Corp lifted its stake in 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 purchasing an additional 256,538 shares during the last quarter. Geode Capital Management LLC lifted its stake in 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 purchasing an additional 284,918 shares during the last quarter. Fisher Asset Management LLC lifted its stake in Edwards Lifesciences by 9.8% in the third quarter. Fisher Asset Management LLC now owns 9,078,311 shares of the medical research company’s stock valued at $599,078,000 after purchasing an additional 806,705 shares during the last quarter. Finally, Jennison Associates LLC purchased a new position in Edwards Lifesciences in the fourth quarter valued at approximately $555,939,000. Hedge funds and other institutional investors own 79.46% of the company’s stock.

Edwards Lifesciences Trading Down 0.7 %

Edwards Lifesciences stock opened at $75.67 on Wednesday. The stock has a market cap of $44.63 billion, a P/E ratio of 10.86, a PEG ratio of 4.92 and a beta of 1.10. Edwards Lifesciences Co. has a fifty-two week low of $58.93 and a fifty-two week high of $96.12. The firm’s fifty day moving average price is $72.82 and its 200-day moving average price is $69.79. 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 earnings results on Tuesday, February 11th. The medical research company reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.04. Edwards Lifesciences had a net margin of 72.93% and a return on equity of 19.40%. Equities research analysts forecast that Edwards Lifesciences Co. will post 2.45 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Edwards Lifesciences news, VP Daniel J. Lippis sold 500 shares of the company’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $68.76, for a total transaction of $34,380.00. Following the completion of the sale, the vice president now directly owns 23,189 shares in the company, valued at $1,594,475.64. This represents a 2.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Scott B. Ullem sold 11,250 shares of the company’s stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $75.76, for a total transaction of $852,300.00. Following the sale, the chief financial officer now owns 30,561 shares of the company’s stock, valued at approximately $2,315,301.36. The trade was a 26.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 26,489 shares of company stock worth $2,002,829. Corporate insiders own 1.27% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on EW. Robert W. Baird dropped their price objective on Edwards Lifesciences from $73.00 to $68.00 and set a “neutral” rating on the stock in a research note on Friday, October 25th. Wolfe Research downgraded Edwards Lifesciences from a “hold” rating to a “strong sell” rating in a research note on Wednesday, February 12th. Morgan Stanley upped their price objective on Edwards Lifesciences from $70.00 to $75.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 12th. Truist Financial reissued a “hold” rating and set a $78.00 target price (up previously from $70.00) on shares of Edwards Lifesciences in a report on Thursday, December 5th. Finally, Stifel Nicolaus raised shares of Edwards Lifesciences from a “hold” rating to a “buy” rating and boosted their target price for the company from $75.00 to $90.00 in a report on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, Edwards Lifesciences has a consensus rating of “Hold” and a consensus price target of $79.95.

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.