Citizens Financial Group Inc RI Lowers Stake in Edwards Lifesciences Co. (NYSE:EW)

Citizens Financial Group Inc RI lowered its stake in shares of Edwards Lifesciences Co. (NYSE:EW – Get Rating) by 5.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 11,846 shares of the medical research company’s stock after selling 681 shares during the quarter. Citizens Financial Group Inc RI’s holdings in Edwards Lifesciences were worth $1,535,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Liberty Wealth Management LLC raised its position in Edwards Lifesciences by 362.3% in the 3rd quarter. Liberty Wealth Management LLC now owns 245 shares of the medical research company’s stock worth $29,000 after purchasing an additional 192 shares during the period. EverSource Wealth Advisors LLC purchased a new position in Edwards Lifesciences in the 4th quarter worth $29,000. Northwest Investment Counselors LLC purchased a new position in Edwards Lifesciences in the 4th quarter worth $30,000. Arlington Partners LLC purchased a new position in Edwards Lifesciences in the 4th quarter worth $34,000. Finally, Mascoma Wealth Management LLC purchased a new position in Edwards Lifesciences in the 4th quarter worth $38,000. Hedge funds and other institutional investors own 82.54% of the company’s stock.

NYSE:EW opened at $97.39 on Wednesday. Edwards Lifesciences Co. has a one year low of $88.96 and a one year high of $131.73. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.41 and a quick ratio of 2.64. The company’s 50-day simple moving average is $111.77 and its 200 day simple moving average is $114.24. The firm has a market capitalization of $60.55 billion, a P/E ratio of 39.91, a PEG ratio of 2.95 and a beta of 1.16.

Edwards Lifesciences (NYSE:EW – Get Rating) last posted its quarterly earnings data on Tuesday, April 26th. The medical research company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.58 by $0.02. Edwards Lifesciences had a net margin of 28.72% and a return on equity of 25.80%. The business had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.31 billion. During the same quarter in the previous year, the firm posted $0.54 earnings per share. Edwards Lifesciences’s quarterly revenue was up 10.2% on a year-over-year basis. On average, equities research analysts expect that Edwards Lifesciences Co. will post 2.56 earnings per share for the current fiscal year.

In other news, VP Catherine M. Szyman sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, February 18th. The shares were sold at an average price of $106.31, for a total transaction of $2,126,200.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael A. Mussallem sold 32,550 shares of the business’s stock in a transaction that occurred on Tuesday, May 10th. The shares were sold at an average price of $94.82, for a total transaction of $3,086,391.00. Following the transaction, the chief executive officer now directly owns 157,353 shares of the company’s stock, valued at $14,920,211.46. The disclosure for this sale can be found here. Insiders sold 250,031 shares of company stock valued at $26,973,194 over the last ninety days. Corporate insiders own 1.29% of the company’s stock.

A number of brokerages recently commented on EW. Evercore ISI decreased their target price on shares of Edwards Lifesciences from $130.00 to $122.00 and set an “outperform” rating on the stock in a research report on Thursday, January 27th. Raymond James decreased their price objective on shares of Edwards Lifesciences from $134.00 to $126.00 and set an “outperform” rating on the stock in a research report on Thursday, January 27th. Canaccord Genuity Group decreased their price objective on shares of Edwards Lifesciences from $152.00 to $137.00 in a research report on Wednesday, April 27th. William Blair restated an “outperform” rating on shares of Edwards Lifesciences in a research report on Tuesday, April 26th. Finally, SVB Leerink decreased their price objective on shares of Edwards Lifesciences from $135.00 to $132.00 and set an “outperform” rating on the stock in a research report on Friday, January 21st. Five equities research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $127.50.

Edwards Lifesciences Company Profile (Get Rating)

Edwards Lifesciences Corporation provides products and technologies for structural heart disease, and critical care and surgical monitoring in the United States, Europe, Japan, and internationally. It offers transcatheter heart valve replacement products for the minimally invasive replacement of heart valves; and transcatheter heart valve repair and replacement products to treat mitral and tricuspid valve diseases.

Further Reading