Bath Savings Trust Co Trims Stake in Edwards Lifesciences Co. (NYSE:EW)

Bath Savings Trust Co reduced its position in Edwards Lifesciences Co. (NYSE:EW) by 42.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,535 shares of the medical research company’s stock after selling 8,442 shares during the quarter. Bath Savings Trust Co’s holdings in Edwards Lifesciences were worth $836,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Crowley Wealth Management Inc. purchased a new stake in Edwards Lifesciences in the 4th quarter worth about $26,000. Vega Investment Solutions purchased a new stake in Edwards Lifesciences in the 4th quarter worth about $27,000. Millstone Evans Group LLC purchased a new stake in Edwards Lifesciences in the 4th quarter worth about $29,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Edwards Lifesciences in the 4th quarter worth about $30,000. Finally, Park Square Financial Group LLC purchased a new stake in Edwards Lifesciences in the 4th quarter worth about $44,000. 79.46% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have commented on EW shares. Piper Sandler upped their target price on shares of Edwards Lifesciences from $80.00 to $83.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 13th. Wall Street Zen downgraded shares of Edwards Lifesciences from a “buy” rating to a “hold” rating in a research note on Friday, May 16th. Robert W. Baird upped their target price on shares of Edwards Lifesciences from $72.00 to $75.00 and gave the stock a “neutral” rating in a research note on Thursday, April 24th. Royal Bank of Canada restated an “outperform” rating and issued a $85.00 target price on shares of Edwards Lifesciences in a research note on Wednesday, February 12th. Finally, Citigroup restated a “buy” rating and issued a $95.00 target price (up from $84.00) on shares of Edwards Lifesciences in a research note on Thursday, May 22nd. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, Edwards Lifesciences has an average rating of “Hold” and an average price target of $80.20.

Insider Transactions at Edwards Lifesciences

In other news, CEO Bernard J. Zovighian sold 6,164 shares of Edwards Lifesciences stock in a transaction on Monday, March 10th. The shares were sold at an average price of $69.51, for a total transaction of $428,459.64. Following the completion of the sale, the chief executive officer now directly owns 59,083 shares in the company, valued at approximately $4,106,859.33. The trade was a 9.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Scott B. Ullem sold 11,250 shares of Edwards Lifesciences stock in a transaction on Wednesday, March 26th. The stock was sold at an average price of $70.87, for a total transaction of $797,287.50. Following the sale, the chief financial officer now owns 30,387 shares of the company’s stock, valued at $2,153,526.69. The trade was a 27.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 56,442 shares of company stock worth $4,025,799. Company insiders own 0.34% of the company’s stock.

Edwards Lifesciences Price Performance

NYSE EW opened at $77.72 on Friday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.89 and a current ratio of 3.46. The firm’s 50 day moving average price is $73.22 and its 200-day moving average price is $72.33. Edwards Lifesciences Co. has a 52-week low of $58.93 and a 52-week high of $95.25. The company has a market cap of $45.59 billion, a PE ratio of 11.15, a P/E/G ratio of 4.82 and a beta of 1.12.

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. The company had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.40 billion. Edwards Lifesciences had a net margin of 72.93% and a return on equity of 19.40%. Edwards Lifesciences’s revenue was up 6.2% compared to the same quarter last year. During the same period last year, the firm earned $0.66 earnings per share. Sell-side analysts forecast that Edwards Lifesciences Co. will post 2.45 EPS for the current fiscal year.

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.