Amalgamated Bank Reduces Stock Position in Edwards Lifesciences Co. (NYSE:EW)

Amalgamated Bank cut its holdings in shares of Edwards Lifesciences Co. (NYSE:EW – Get Rating) by 1.5% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 168,382 shares of the medical research company’s stock after selling 2,651 shares during the quarter. Amalgamated Bank’s holdings in Edwards Lifesciences were worth $12,563,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of EW. Trifecta Capital Advisors LLC bought a new stake in shares of Edwards Lifesciences in the 4th quarter valued at approximately $28,000. Addison Advisors LLC increased its holdings in shares of Edwards Lifesciences by 708.0% in the 4th quarter. Addison Advisors LLC now owns 404 shares of the medical research company’s stock valued at $30,000 after acquiring an additional 354 shares during the last quarter. New England Capital Financial Advisors LLC bought a new stake in shares of Edwards Lifesciences in the 4th quarter valued at approximately $42,000. CoreCap Advisors LLC bought a new stake in shares of Edwards Lifesciences in the 4th quarter valued at approximately $44,000. Finally, WASHINGTON TRUST Co grew its stake in Edwards Lifesciences by 252.5% during the 4th quarter. WASHINGTON TRUST Co now owns 698 shares of the medical research company’s stock worth $52,000 after buying an additional 500 shares during the last quarter. 80.35% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, VP Jean-Luc M. Lemercier sold 6,640 shares of the stock in a transaction on Wednesday, March 8th. The stock was sold at an average price of $76.96, for a total value of $511,014.40. Following the completion of the sale, the vice president now directly owns 168,875 shares in the company, valued at $12,996,620. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Larry L. Wood sold 6,421 shares of the stock in a transaction dated Wednesday, May 24th. The shares were sold at an average price of $84.23, for a total transaction of $540,840.83. Following the transaction, the insider now owns 213,794 shares of the company’s stock, valued at approximately $18,007,868.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Jean-Luc M. Lemercier sold 6,640 shares of the stock in a transaction dated Wednesday, March 8th. The stock was sold at an average price of $76.96, for a total transaction of $511,014.40. Following the transaction, the vice president now directly owns 168,875 shares in the company, valued at approximately $12,996,620. The disclosure for this sale can be found here. In the last ninety days, insiders sold 189,091 shares of company stock worth $16,232,258. Insiders own 1.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on EW. 92 Resources restated a “reiterates” rating on shares of Edwards Lifesciences in a report on Thursday, May 4th. Canaccord Genuity Group increased their target price on Edwards Lifesciences from $68.00 to $76.00 and gave the company a “hold” rating in a research note on Wednesday, February 1st. Stifel Nicolaus raised their target price on Edwards Lifesciences from $75.00 to $87.00 in a research report on Monday, April 24th. Piper Sandler raised their price target on Edwards Lifesciences from $80.00 to $83.00 in a report on Thursday, April 27th. Finally, Raymond James cut Edwards Lifesciences from an “outperform” rating to a “market perform” rating in a research note on Monday, February 6th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have given 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 $89.63.

Edwards Lifesciences Price Performance

NYSE EW traded up $0.02 on Friday, hitting $81.67. 911,106 shares of the company’s stock were exchanged, compared to its average volume of 3,163,463. The stock has a 50-day moving average of $85.09 and a 200-day moving average of $79.42. The company has a current ratio of 3.01, a quick ratio of 2.17 and a debt-to-equity ratio of 0.10. Edwards Lifesciences Co. has a 52 week low of $67.13 and a 52 week high of $107.92. The stock has a market cap of $49.51 billion, a price-to-earnings ratio of 33.88, a P/E/G ratio of 4.77 and a beta of 1.02.

Edwards Lifesciences (NYSE:EW – Get Rating) last released its earnings results on Wednesday, April 26th. The medical research company reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.01. Edwards Lifesciences had a return on equity of 25.81% and a net margin of 27.07%. The firm had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.39 billion. During the same period in the prior year, the company earned $0.60 earnings per share. The company’s quarterly revenue was up 8.8% on a year-over-year basis. Analysts expect that Edwards Lifesciences Co. will post 2.55 earnings per share for the current year.

Edwards Lifesciences Company Profile

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Edwards Lifesciences Corp. engages in patient-focused medical innovations for heart disease and critical care monitoring. Its products are categorized into four main areas: Transcatheter Aortic Valve Replacement, Transcatheter Mitral and Tricuspid Therapies, Surgical Structural Heart, and Critical Care.