Westpac Banking Corp lowered its stake in Edwards Lifesciences Corp (NYSE:EW) by 17.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 55,683 shares of the medical research company’s stock after selling 11,945 shares during the period. Westpac Banking Corp’s holdings in Edwards Lifesciences were worth $10,287,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. FTB Advisors Inc. bought a new stake in Edwards Lifesciences in the first quarter worth about $25,000. Evolution Wealth Advisors LLC bought a new stake in Edwards Lifesciences in the second quarter worth about $29,000. M&R Capital Management Inc. bought a new stake in Edwards Lifesciences in the second quarter worth about $29,000. Field & Main Bank bought a new stake in Edwards Lifesciences in the first quarter worth about $34,000. Finally, Coastal Capital Group Inc. bought a new stake in Edwards Lifesciences in the second quarter worth about $38,000. Institutional investors own 82.43% of the company’s stock.

EW has been the subject of several analyst reports. BTIG Research reissued a “hold” rating on shares of Edwards Lifesciences in a research note on Thursday, July 25th. Citigroup set a $159.00 price objective on shares of Edwards Lifesciences and gave the stock a “sell” rating in a research note on Friday, July 26th. Jefferies Financial Group raised their price objective on shares of Edwards Lifesciences from $210.00 to $245.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Canaccord Genuity raised their price objective on shares of Edwards Lifesciences from $215.00 to $250.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Finally, BMO Capital Markets raised their price objective on shares of Edwards Lifesciences from $204.00 to $224.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Two analysts have rated the stock with a sell rating, six have given a hold rating and fourteen have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $204.74.

In related news, VP Catherine M. Szyman sold 1,152 shares of the business’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $191.70, for a total value of $220,838.40. Following the completion of the transaction, the vice president now owns 19,162 shares of the company’s stock, valued at $3,673,355.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Schack Wesley W. Von sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $217.27, for a total transaction of $651,810.00. Following the completion of the transaction, the director now directly owns 1,737 shares of the company’s stock, valued at approximately $377,397.99. The disclosure for this sale can be found here. Insiders have sold 142,948 shares of company stock valued at $27,936,332 in the last ninety days. Insiders own 1.63% of the company’s stock.

Shares of Edwards Lifesciences stock traded up $2.19 on Thursday, hitting $215.70. 9,652 shares of the company traded hands, compared to its average volume of 1,186,828. The company has a 50 day moving average of $200.64. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.48 and a current ratio of 3.38. Edwards Lifesciences Corp has a 52 week low of $134.53 and a 52 week high of $219.71. The stock has a market cap of $44.90 billion, a P/E ratio of 45.96, a PEG ratio of 2.72 and a beta of 0.87.

Edwards Lifesciences (NYSE:EW) last posted its quarterly earnings results on Tuesday, July 23rd. The medical research company reported $1.38 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.33 by $0.05. Edwards Lifesciences had a net margin of 18.29% and a return on equity of 31.25%. The firm had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter in the previous year, the firm posted $1.24 earnings per share. The company’s revenue was up 15.2% on a year-over-year basis. On average, analysts forecast that Edwards Lifesciences Corp will post 5.34 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 and internationally. It offers transcatheter heart valve therapy products comprising transcatheter aortic valve replacement, and transcatheter mitral and tricuspid therapies for the nonsurgical replacement of heart valves.

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Institutional Ownership by Quarter for Edwards Lifesciences (NYSE:EW)

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