Sequoia Financial Advisors LLC Reduces Stake in Edwards Lifesciences Co. (NYSE:EW)

Sequoia Financial Advisors LLC has reduced its investment in Edwards Lifesciences Co. (NYSE:EW – Free Report) by 22.0% during the third quarter, based on the firm’s recent 13F filing with the Securities and Exchange Commission (SEC). The fund now holds 6,902 shares of the medical research company’s stock, having sold 1,949 shares during this period. According to the latest SEC filing, Sequoia Financial Advisors LLC’s holdings in Edwards Lifesciences were valued at approximately $455,000.

Other institutional investors have also made adjustments to their positions in Edwards Lifesciences recently. Crewe Advisors LLC bought a new stake in the company worth about $28,000 during the first quarter. First Community Trust NA also acquired a new stake in the second quarter valued at $29,000. Additionally, Webster Bank N.A. purchased shares worth $39,000, while Peoples Bank KS acquired a new position worth roughly $40,000 in the third quarter. Versant Capital Management Inc grew its holdings by 206.3% in the second quarter and now owns 484 shares valued at $45,000 after acquiring an additional 326 shares during the period. Currently, institutional investors and hedge funds own approximately 79.46% of Edwards Lifesciences stock.

Insider Transactions at Edwards Lifesciences

In related news, Vice President Donald E. Bobo, Jr. sold 5,000 shares of the company’s stock on August 14th at an average price of $66.08, totaling $330,400. Following this transaction, he retained ownership of 46,936 shares valued at roughly $3,101,530.88. This sale represented a 0.00% change in his overall position. The details of this trade were disclosed in a document filed with the SEC. Similarly, VP Daveen Chopra sold 1,250 shares on August 20th at an average price of $69.95, which amounted to $87,437.50. After this sale, he owned 29,333 shares worth $2,051,843.35. In the last three months, company insiders have sold a total of 16,250 shares valued at $1,099,238. Corporate insiders now account for 1.29% of the company’s total stock ownership.

Wall Street Analyst Opinions

Several research analysts have recently published their assessments of Edwards Lifesciences. On Friday, JPMorgan Chase & Co. raised their price target from $72.00 to $78.00 and maintained a “neutral” rating. Bank of America downgraded the stock from a “buy” rating to “neutral” and lowered the price target from $105.00 to $75.00 in a report dated July 25th. Meanwhile, Royal Bank of Canada reduced their price objective from $85.00 to $75.00 while maintaining an “outperform” rating on October 8th. Jefferies Financial Group also downgraded Edwards Lifesciences from a “buy” to a “hold” rating, lowering the price target from $85.00 to $70.00. Additionally, The Goldman Sachs Group cut their price objective from $107.00 to $91.00 while retaining a “buy” rating in a report dated July 26th. In total, fifteen analysts have assigned the stock a hold rating, ten have given it a buy rating, and one has classified it with a strong buy. Presently, the stock holds an average rating of “Hold” along with an average price target of $75.67 according to MarketBeat.com.

Edwards Lifesciences Stock Performance

Edwards Lifesciences stock opened at $69.38 on Monday, reflecting a decrease of 1.4%. The company’s 50-day moving average stands at $68.09, while the 200-day moving average is at $78.30. With a market capitalization of $41.79 billion, Edwards Lifesciences has a price-to-earnings ratio of 28.55 and a price-to-earnings-growth ratio of 3.00. The company’s stock has witnessed a 52-week low of $58.93 and a 52-week high of $96.12. The current ratio is 3.71, the quick ratio is at 2.87, and the debt-to-equity ratio is 0.08, indicating solid financial health.

Edwards Lifesciences last released its quarterly earnings report on October 24th, revealing earnings per share (EPS) of $0.67, which aligns with analysts’ consensus estimates. The quarterly revenue reached $1.35 billion, falling short of the analyst expectations of $1.57 billion. The company achieved a net margin of 24.55% and a return on equity of 22.35%. Year-over-year, the firm’s revenue was up by 8.9%. Last year, the EPS for the same quarter was $0.59. On average, analysts expect Edwards Lifesciences to report EPS of 2.61 for the current fiscal year.

Overview of Edwards Lifesciences

Edwards Lifesciences Corporation specializes in providing products and technologies focused on structural heart disease and critical care monitoring. The company operates in the United States, Europe, Japan, and other international markets, offering solutions such as transcatheter heart valve replacements through the Edwards SAPIEN line and other products to treat mitral and tricuspid valve diseases under the PASCAL PRECISION and Cardioband brands.

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