Busey Bank Decreases Position in Edwards Lifesciences Co. (NYSE:EW)

Busey Bank decreased its holdings in shares of Edwards Lifesciences Co. (NYSE:EW) by 1.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,673 shares of the medical research company’s stock after selling 165 shares during the quarter. Busey Bank’s holdings in Edwards Lifesciences were worth $572,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC lifted its stake in Edwards Lifesciences by 4.4% in the first quarter. Allspring Global Investments Holdings LLC now owns 330,711 shares of the medical research company’s stock valued at $31,603,000 after buying an additional 14,087 shares during the last quarter. Empowered Funds LLC lifted its stake in Edwards Lifesciences by 151.2% in the first quarter. Empowered Funds LLC now owns 20,123 shares of the medical research company’s stock valued at $1,923,000 after buying an additional 12,112 shares during the last quarter. Cetera Advisors LLC lifted 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 buying an additional 24,242 shares during the last quarter. Financial Sense Advisors Inc. purchased a new stake in Edwards Lifesciences in the first quarter valued at approximately $975,000. Finally, BDF Gestion purchased a new stake in Edwards Lifesciences in the second quarter valued at approximately $5,148,000. Hedge funds and other institutional investors own 79.46% of the company’s stock.

Insider Activity

In other news, VP Daveen Chopra sold 1,250 shares of the company’s stock in a transaction 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 sale, the vice president now directly owns 29,333 shares in the company, valued at $2,051,843.35. This represents a 0.00 % 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. In other news, VP Daveen Chopra sold 1,250 shares of the company’s stock in a transaction 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 sale, the vice president now directly owns 29,333 shares in the company, valued at $2,051,843.35. This represents a 0.00 % 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 on Wednesday, September 11th. The shares were sold at an average price of $66.77, for a total value of $333,850.00. Following the completion of the sale, the vice president now owns 46,936 shares in the company, valued at $3,133,916.72. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 16,250 shares of company stock worth $1,099,238 over the last three months. 1.29% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on EW. Baird R W cut Edwards Lifesciences from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 25th. Piper Sandler reduced their price objective on Edwards Lifesciences from $73.00 to $70.00 and set a “neutral” rating for the company in a research note on Friday. Royal Bank of Canada cut their price target on Edwards Lifesciences from $85.00 to $75.00 and set an “outperform” rating for the company in a research note on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft cut their price target on Edwards Lifesciences from $103.00 to $85.00 and set a “buy” rating for the company in a research note on Thursday, July 25th. Finally, Jefferies Financial Group cut Edwards Lifesciences from a “buy” rating to a “hold” rating and cut their price target for the stock from $85.00 to $70.00 in a research note on Wednesday, September 18th. Fifteen equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $75.67.

Edwards Lifesciences Stock Down 1.4 %

Edwards Lifesciences stock opened at $69.38 on Friday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.87 and a current ratio of 3.71. The firm has a market capitalization of $41.81 billion, a price-to-earnings ratio of 29.91, a price-to-earnings-growth ratio of 2.83 and a beta of 1.13. Edwards Lifesciences Co. has a fifty-two week low of $58.93 and a fifty-two week high of $96.12. The stock’s fifty day moving average is $68.08 and its two-hundred day moving average is $78.65.

Edwards Lifesciences (NYSE:EW) last posted its earnings results on Thursday, October 24th. The medical research company reported $0.67 earnings per share for the quarter, meeting the consensus estimate of $0.67. The company had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.57 billion. Edwards Lifesciences had a return on equity of 22.35% and a net margin of 24.55%. Edwards Lifesciences’s revenue was up 8.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.59 earnings per share. Analysts predict that Edwards Lifesciences Co. will post 2.71 EPS for the current fiscal year.

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.