Edwards Lifesciences Co. (NYSE:EW) Shares Sold by Soros Fund Management LLC

Soros Fund Management LLC cut its holdings in Edwards Lifesciences Co. (NYSE:EW) by 16.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 250,000 shares of the medical research company’s stock after selling 50,000 shares during the quarter. Soros Fund Management LLC’s holdings in Edwards Lifesciences were worth $18,508,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of EW. Virtu Financial LLC acquired a new stake in shares of Edwards Lifesciences in the third quarter valued at about $3,173,000. World Investment Advisors LLC grew its holdings in shares of Edwards Lifesciences by 1,660.7% in the 3rd quarter. World Investment Advisors LLC now owns 72,277 shares of the medical research company’s stock worth $4,770,000 after acquiring an additional 68,172 shares during the period. Wilmington Savings Fund Society FSB raised its holdings in Edwards Lifesciences by 147.0% during the third quarter. Wilmington Savings Fund Society FSB now owns 9,106 shares of the medical research company’s stock worth $601,000 after purchasing an additional 5,420 shares during the last quarter. Destination Wealth Management boosted its position in Edwards Lifesciences by 2.8% during the third quarter. Destination Wealth Management now owns 7,012 shares of the medical research company’s stock worth $463,000 after purchasing an additional 193 shares in the last quarter. Finally, Tidal Investments LLC grew its holdings in Edwards Lifesciences by 0.7% in the third quarter. Tidal Investments LLC now owns 39,532 shares of the medical research company’s stock valued at $2,609,000 after purchasing an additional 275 shares during the last quarter. Hedge funds and other institutional investors own 79.46% of the company’s stock.

Edwards Lifesciences Price Performance

EW opened at $75.55 on Tuesday. Edwards Lifesciences Co. has a twelve month low of $58.93 and a twelve month high of $95.25. The firm has a market cap of $44.41 billion, a price-to-earnings ratio of 10.84, a PEG ratio of 4.82 and a beta of 1.15. 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 company has a fifty day simple moving average of $70.96 and a 200 day simple moving average of $71.16.

Edwards Lifesciences (NYSE:EW) last announced its earnings results on Wednesday, April 23rd. The medical research company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.04. Edwards Lifesciences had a return on equity of 19.40% and a net margin of 72.93%. The company had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.40 billion. During the same period last year, the firm earned $0.66 earnings per share. The company’s revenue was up 6.2% on a year-over-year basis. Equities research analysts expect that Edwards Lifesciences Co. will post 2.45 EPS for the current fiscal year.

Analyst Ratings Changes

EW has been the topic of several recent research reports. Evercore ISI decreased their price objective on shares of Edwards Lifesciences from $75.00 to $73.00 and set an “in-line” rating on the stock in a research report on Wednesday, February 12th. Wolfe Research downgraded shares of Edwards Lifesciences from a “hold” rating to a “strong sell” rating in a report on Wednesday, February 12th. Canaccord Genuity Group raised their price objective on shares of Edwards Lifesciences from $71.00 to $75.00 and gave the stock a “hold” rating in a research note on Friday. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $85.00 target price on shares of Edwards Lifesciences in a research note on Wednesday, February 12th. Finally, Truist Financial lowered their target price on Edwards Lifesciences from $78.00 to $75.00 and set a “hold” rating on the stock in a report on Friday, April 11th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $79.45.

Insider Buying and Selling at Edwards Lifesciences

In other news, VP Donald E. Bobo, Jr. sold 9,500 shares of the stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $67.96, for a total transaction of $645,620.00. Following the transaction, the vice president now owns 46,936 shares of the company’s stock, valued at approximately $3,189,770.56. This trade represents a 16.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Steven R. Loranger sold 5,739 shares of Edwards Lifesciences stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $76.42, for a total value of $438,574.38. Following the completion of the transaction, the director now owns 60,372 shares of the company’s stock, valued at $4,613,628.24. This trade represents a 8.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 71,853 shares of company stock valued at $5,163,062 in the last three months. Corporate insiders own 1.29% of the company’s stock.

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.