Axxcess Wealth Management LLC Reduces Position in Edwards Lifesciences Co. (NYSE:EW)

Axxcess Wealth Management LLC lessened its holdings in shares of Edwards Lifesciences Co. (NYSE:EW) by 77.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,245 shares of the medical research company’s stock after selling 62,401 shares during the period. Axxcess Wealth Management LLC’s holdings in Edwards Lifesciences were worth $1,391,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of EW. Turtle Creek Wealth Advisors LLC purchased a new position in shares of Edwards Lifesciences during the fourth quarter valued at approximately $34,000. Operose Advisors LLC boosted its holdings in shares of Edwards Lifesciences by 247.0% in the third quarter. Operose Advisors LLC now owns 635 shares of the medical research company’s stock valued at $44,000 after purchasing an additional 452 shares during the period. SRS Capital Advisors Inc. boosted its holdings in shares of Edwards Lifesciences by 292.6% in the third quarter. SRS Capital Advisors Inc. now owns 636 shares of the medical research company’s stock valued at $44,000 after purchasing an additional 474 shares during the period. NBC Securities Inc. purchased a new stake in shares of Edwards Lifesciences in the third quarter valued at approximately $52,000. Finally, ORG Partners LLC purchased a new stake in shares of Edwards Lifesciences in the third quarter valued at approximately $66,000. Hedge funds and other institutional investors own 79.46% of the company’s stock.

Insider Activity

In other news, VP Daniel J. Lippis sold 1,715 shares of the business’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $90.98, for a total transaction of $156,030.70. Following the sale, the vice president now directly owns 17,213 shares of the company’s stock, valued at $1,566,038.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Edwards Lifesciences news, Director Michael A. Mussallem sold 29,350 shares of the stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $86.67, for a total transaction of $2,543,764.50. Following the sale, the director now directly owns 4,486 shares of the company’s stock, valued at approximately $388,801.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Daniel J. Lippis sold 1,715 shares of the stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $90.98, for a total value of $156,030.70. Following the sale, the vice president now directly owns 17,213 shares in the company, valued at $1,566,038.74. The disclosure for this sale can be found here. Insiders have sold 237,749 shares of company stock valued at $20,920,934 over the last ninety days. 1.27% of the stock is currently owned by insiders.

Edwards Lifesciences Stock Performance

Shares of EW stock opened at $85.25 on Monday. The business’s fifty day simple moving average is $90.08 and its 200-day simple moving average is $79.46. The company has a market cap of $51.37 billion, a PE ratio of 36.75, a PEG ratio of 3.59 and a beta of 1.10. The company has a current ratio of 3.75, a quick ratio of 2.67 and a debt-to-equity ratio of 0.08. Edwards Lifesciences Co. has a 12-month low of $60.57 and a 12-month high of $96.12.

Edwards Lifesciences (NYSE:EW) last announced its quarterly earnings data on Thursday, April 25th. The medical research company reported $0.66 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.02. The firm had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.58 billion. Edwards Lifesciences had a net margin of 23.01% and a return on equity of 22.86%. Analysts expect that Edwards Lifesciences Co. will post 2.77 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

EW has been the subject of a number of research reports. Citigroup boosted their price target on Edwards Lifesciences from $90.00 to $98.00 and gave the company a “neutral” rating in a report on Wednesday, April 3rd. Evercore ISI lowered their price target on Edwards Lifesciences from $92.00 to $89.00 and set an “in-line” rating for the company in a report on Friday, April 26th. Oppenheimer boosted their price objective on shares of Edwards Lifesciences from $93.00 to $100.00 and gave the stock an “outperform” rating in a research note on Monday, March 18th. Wells Fargo & Company boosted their price objective on shares of Edwards Lifesciences from $94.00 to $99.00 and gave the stock an “overweight” rating in a research note on Friday, April 26th. Finally, Piper Sandler boosted their price objective on shares of Edwards Lifesciences from $85.00 to $88.00 and gave the stock a “neutral” rating in a research note on Friday, April 26th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $92.71.

Edwards Lifesciences Company 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.