Edwards Lifesciences Corporation $EW Stock: Lockheed Martin Investment Management Co. Decreases Holdings

Lockheed Martin Investment Management Co. cut its stake in Edwards Lifesciences Corporation (NYSE:EW) by 31.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 56,790 shares of the medical research company’s stock after selling 25,820 shares during the quarter. Lockheed Martin Investment Management Co.’s holdings in Edwards Lifesciences were worth $4,902,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of EW. RMG Wealth Management LLC acquired a new position in Edwards Lifesciences in the 1st quarter valued at about $26,000. Pin Oak Investment Advisors Inc. bought a new position in Edwards Lifesciences in the 2nd quarter valued at about $26,000. GK Wealth Management LLC acquired a new stake in Edwards Lifesciences during the third quarter worth approximately $26,000. TrinityBridge Ltd acquired a new stake in Edwards Lifesciences during the second quarter worth approximately $27,000. Finally, Meeder Asset Management Inc. lifted its position in Edwards Lifesciences by 175.2% during the first quarter. Meeder Asset Management Inc. now owns 366 shares of the medical research company’s stock worth $29,000 after acquiring an additional 233 shares during the last quarter. Institutional investors and hedge funds own 79.46% of the company’s stock.

Edwards Lifesciences Stock Performance

NYSE EW opened at $104.72 on Tuesday. The company has a fifty day moving average price of $89.21 and a 200-day moving average price of $85.88. The firm has a market cap of $60.29 billion, a price-to-earnings ratio of 59.16, a PEG ratio of 2.60 and a beta of 0.85. The company has a debt-to-equity ratio of 0.06, a current ratio of 4.52 and a quick ratio of 3.77. Edwards Lifesciences Corporation has a 1 year low of $74.66 and a 1 year high of $105.37.

Edwards Lifesciences (NYSE:EW) last released its quarterly earnings results on Wednesday, November 4th. The medical research company reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.06. Edwards Lifesciences had a net margin of 15.30% and a return on equity of 16.25%. The company had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.68 billion. During the same period last year, the firm earned $0.67 earnings per share. The firm’s revenue was up 10.5% on a year-over-year basis. As a group, equities research analysts predict that Edwards Lifesciences Corporation will post 3.02 EPS for the current fiscal year.

Insider Activity

In other Edwards Lifesciences news, VP Daniel Lippis sold 619 shares of Edwards Lifesciences stock in a transaction that occurred on Thursday, October 8th. The shares were sold at an average price of $85.65, for a total transaction of $53,017.35. Following the transaction, the vice president owned 40,034 shares of the company’s stock, valued at $3,428,912.10. This trade represents a 1.52% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Annette Brüls sold 2,644 shares of the business’s stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $89.98, for a total value of $237,907.12. Following the completion of the transaction, the vice president owned 17,984 shares in the company, valued at $1,618,200.32. The trade was a 12.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 53,326 shares of company stock worth $5,433,775. Corporate insiders own 0.31% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. JPMorgan Chase & Co. boosted their price objective on Edwards Lifesciences from $105.00 to $120.00 and gave the stock an “overweight” rating in a report on Thursday, November 5th. Robert W. Baird upgraded shares of Edwards Lifesciences from a “neutral” rating to an “outperform” rating and set a $116.00 price objective for the company in a research note on Thursday, November 5th. BTIG Research upped their target price on Edwards Lifesciences from $110.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, November 5th. Rothschild & Co Redburn upped their price target on shares of Edwards Lifesciences from $99.00 to $102.00 and gave the stock a “buy” rating in a report on Monday, July 27th. Finally, Deutsche Bank Aktiengesellschaft set a $104.00 price objective on Edwards Lifesciences in a research note on Tuesday, October 27th. Twenty-three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, Edwards Lifesciences currently has an average rating of “Moderate Buy” and a consensus price target of $108.88.

Edwards Lifesciences Company Profile

Edwards Lifesciences is a medical technology company focused on therapies for structural heart disease and critical care. Its products include transcatheter and surgical heart valves, as well as technologies used to monitor patients during intensive care and surgery.

The company traces its origins to 1958, when engineer Lowell Edwards and surgeon Albert Starr began developing an artificial heart valve. Their work led to the Starr-Edwards valve, introduced in 1960. Edwards Lifesciences is headquartered in Irvine, California, and serves clinicians and patients around the world.

Its structural heart portfolio includes transcatheter aortic valve replacement (TAVR) systems and therapies addressing mitral and tricuspid valve disease.