First Horizon Advisors Inc. Reduces Position in Edwards Lifesciences Co. (NYSE:EW)

First Horizon Advisors Inc. lessened its holdings in shares of Edwards Lifesciences Co. (NYSE:EW) by 23.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,003 shares of the medical research company’s stock after selling 3,308 shares during the period. First Horizon Advisors Inc.’s holdings in Edwards Lifesciences were worth $815,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Waterfront Wealth Inc. boosted its position in shares of Edwards Lifesciences by 44.7% during the fourth quarter. Waterfront Wealth Inc. now owns 15,865 shares of the medical research company’s stock valued at $1,174,000 after buying an additional 4,899 shares during the period. Suncoast Equity Management boosted its holdings in shares of Edwards Lifesciences by 14.6% in the fourth quarter. Suncoast Equity Management now owns 10,893 shares of the medical research company’s stock valued at $806,000 after purchasing an additional 1,388 shares during the period. Cromwell Holdings LLC purchased a new stake in shares of Edwards Lifesciences in the fourth quarter valued at approximately $146,000. Concurrent Investment Advisors LLC boosted its holdings in shares of Edwards Lifesciences by 2.3% in the fourth quarter. Concurrent Investment Advisors LLC now owns 19,626 shares of the medical research company’s stock valued at $1,453,000 after purchasing an additional 439 shares during the period. Finally, Abacus Planning Group Inc. boosted its holdings in shares of Edwards Lifesciences by 0.3% in the fourth quarter. Abacus Planning Group Inc. now owns 40,207 shares of the medical research company’s stock valued at $2,977,000 after purchasing an additional 140 shares during the period. Hedge funds and other institutional investors own 79.46% of the company’s stock.

Insider Activity at Edwards Lifesciences

In other Edwards Lifesciences news, Director Steven R. Loranger sold 5,739 shares of the company’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $76.42, for a total value of $438,574.38. Following the sale, the director now directly owns 60,372 shares of the company’s stock, valued at approximately $4,613,628.24. This represents a 8.68 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Daniel J. Lippis sold 500 shares of the company’s stock in a transaction on 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 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 have sold a total of 26,489 shares of company stock valued at $2,002,829 in the last ninety days. Company insiders own 1.29% of the company’s stock.

Edwards Lifesciences Stock Performance

Shares of EW stock opened at $72.72 on Tuesday. 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 simple moving average is $72.83 and its 200-day simple moving average is $70.13. Edwards Lifesciences Co. has a 12-month low of $58.93 and a 12-month high of $96.12. The company has a market cap of $42.89 billion, a PE ratio of 10.43, a PEG ratio of 4.82 and a beta of 1.11.

Edwards Lifesciences (NYSE:EW) last released its earnings results on Tuesday, February 11th. The medical research company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.04. Edwards Lifesciences had a return on equity of 19.40% and a net margin of 72.93%. Analysts expect that Edwards Lifesciences Co. will post 2.45 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on EW shares. Royal Bank of Canada reiterated an “outperform” rating and issued a $85.00 price target on shares of Edwards Lifesciences in a report on Wednesday, February 12th. Truist Financial reiterated a “hold” rating and issued a $78.00 price target (up previously from $70.00) on shares of Edwards Lifesciences in a report on Thursday, December 5th. Canaccord Genuity Group boosted their price target on Edwards Lifesciences from $68.00 to $71.00 and gave the company a “hold” rating in a report on Thursday, February 13th. Stifel Nicolaus upgraded Edwards Lifesciences from a “hold” rating to a “buy” rating and upped their target price for the stock from $75.00 to $90.00 in a report on Thursday, January 30th. Finally, Morgan Stanley upped their target price on Edwards Lifesciences from $70.00 to $75.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $79.95.

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.