Tributary Capital Management LLC Sells 1,900 Shares of Edwards Lifesciences Corporation (NYSE:EW)

Tributary Capital Management LLC trimmed its position in Edwards Lifesciences Corporation (NYSE:EW) by 31.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,125 shares of the medical research company’s stock after selling 1,900 shares during the quarter. Tributary Capital Management LLC’s holdings in Edwards Lifesciences were worth $299,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in EW. Crowley Wealth Management Inc. bought a new stake in Edwards Lifesciences in the 4th quarter worth about $26,000. Vega Investment Solutions bought a new stake in Edwards Lifesciences during the 4th quarter worth approximately $27,000. Rossby Financial LCC bought a new stake in Edwards Lifesciences during the 1st quarter worth approximately $29,000. Millstone Evans Group LLC bought a new stake in Edwards Lifesciences during the 4th quarter worth approximately $29,000. Finally, Global X Japan Co. Ltd. increased its holdings in shares of Edwards Lifesciences by 116.1% in the 1st quarter. Global X Japan Co. Ltd. now owns 402 shares of the medical research company’s stock worth $29,000 after buying an additional 216 shares during the last quarter. 79.46% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on EW shares. Argus raised shares of Edwards Lifesciences to a “strong-buy” rating in a research report on Thursday, July 10th. Evercore ISI lifted their price target on shares of Edwards Lifesciences from $73.00 to $77.00 and gave the stock an “in-line” rating in a research note on Tuesday, July 8th. Canaccord Genuity Group lifted their target price on Edwards Lifesciences from $71.00 to $75.00 and gave the company a “hold” rating in a research report on Friday, April 25th. 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 report on Thursday, April 24th. Finally, Dbs Bank raised shares of Edwards Lifesciences to a “hold” rating in a research note on Monday, June 2nd. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Edwards Lifesciences has a consensus rating of “Hold” and a consensus target price of $81.00.

Edwards Lifesciences Stock Performance

Shares of EW opened at $76.24 on Friday. The stock has a 50 day moving average of $76.45 and a 200 day moving average of $73.42. Edwards Lifesciences Corporation has a 12 month low of $58.93 and a 12 month high of $88.56. The company has a market capitalization of $44.72 billion, a price-to-earnings ratio of 10.89, a PEG ratio of 3.82 and a beta of 1.11. The company has a current ratio of 4.45, a quick ratio of 3.66 and a debt-to-equity ratio of 0.06.

Edwards Lifesciences (NYSE:EW) last released its quarterly earnings data on Wednesday, April 23rd. The medical research company reported $0.64 EPS for the quarter, topping the consensus estimate of $0.60 by $0.04. The firm had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.40 billion. Edwards Lifesciences had a return on equity of 16.62% and a net margin of 75.48%. The company’s quarterly revenue was up 6.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.66 earnings per share. As a group, sell-side analysts forecast that Edwards Lifesciences Corporation will post 2.45 earnings per share for the current year.

Insider Buying and Selling at Edwards Lifesciences

In related news, VP Donald E. Bobo, Jr. sold 2,570 shares of the stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $77.40, for a total value of $198,918.00. Following the completion of the transaction, the vice president owned 50,356 shares of the company’s stock, valued at approximately $3,897,554.40. This trade represents a 4.86% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Bernard J. Zovighian sold 5,980 shares of the firm’s stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $74.91, for a total transaction of $447,961.80. Following the completion of the sale, the chief executive officer directly owned 58,284 shares of the company’s stock, valued at approximately $4,366,054.44. The trade was a 9.31% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 30,848 shares of company stock worth $2,314,488. 1.29% of the stock is owned by corporate insiders.

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.