Mather Group LLC Sells Shares of Edwards Lifesciences Co.

Mather Group LLC has announced a reduction in its stake in Edwards Lifesciences Co. (NYSE:EW – Free Report) for the third quarter of the year. According to a recent filing with the Securities and Exchange Commission, Mather Group LLC decreased its ownership by 31.7%, selling a total of 1,609 shares. Following this sale, the institutional investor now holds 3,461 shares of the medical research firm, which had a total value of approximately $228,000 based on the latest SEC disclosures.

A number of other institutional investors have made changes to their positions in Edwards Lifesciences as well. For instance, Clarity Capital Partners LLC purchased a new stake worth about $434,000 during the fourth quarter. Meanwhile, GLOBALT Investments LLC invested approximately $945,000 to acquire shares in Edwards Lifesciences. V Square Quantitative Management LLC also increased its holdings by 31.6% in the same quarter, bringing their total to 11,047 shares, valued at $842,000 after acquiring an additional 2,652 shares. Cim LLC made a significant move by buying a new stake worth about $13.7 million. Additionally, Tortoise Investment Management LLC increased its holdings by an impressive 140.2%, now owning 1,441 shares valued at about $110,000. Overall, about 79.46% of Edwards Lifesciences stock is held by institutional investors.

Changes in Analyst Ratings

Recently, various brokerages have commented on the stock performance of Edwards Lifesciences. UBS Group lowered its price target from $90.00 to $75.00, maintaining a “neutral” rating for the shares. Stifel Nicolaus also reduced their target price from $85.00 to $70.00, indicating a “hold” rating. Jefferies Financial Group changed their outlook from a “buy” to a “hold” rating, adjusting their price target from $85.00 to $70.00. Morgan Stanley reiterated an “equal weight” rating with a price target set at $70.00. Lastly, Robert W. Baird shifted their rating from “outperform” to “neutral”, reducing their target price from $102.00 to $70.00. Currently, seventeen analysts have assigned a hold rating, while ten suggest a buy and one rates it as a strong buy. According to MarketBeat.com, Edwards Lifesciences holds an average rating of “Hold” with an average price target of approximately $75.77.

Current Stock Performance

As of the latest trading session, shares of Edwards Lifesciences opened at $68.13. The company has a 50-day moving average of $67.13 and a 200-day moving average of $80.17. The stock has shown a range over the past year, hitting a low of $58.93 and a high of $96.12. Currently, Edwards Lifesciences holds a market capitalization of $41.04 billion, a price-to-earnings (P/E) ratio of 28.04, and a price-earnings-growth (P/E/G) ratio of 2.83. The company’s debt-to-equity ratio stands at 0.08, while the quick and current ratios are 2.87 and 3.71, respectively.

In its most recent earnings report released on July 24, Edwards Lifesciences reported earnings per share of $0.70, which outperformed analysts’ expectations of $0.69. The company had a net margin of 24.55% and a return on equity of 22.35%. Quarterly revenue amounted to $1.63 billion, slightly falling short of analysts' expectations of $1.65 billion, but showing a 6.7% increase compared to the same quarter last year. Analysts predict that Edwards Lifesciences is expected to post earnings of 2.71 per share for the current fiscal year.

Insider Transactions

Recent insider transactions have seen involvement from key executives at Edwards Lifesciences. On August 20, VP Daveen Chopra sold 1,250 shares at an average price of $69.95, totaling approximately $87,437.50. Post-transaction, Chopra holds about 29,333 shares valued near $2.05 million. Additionally, VP Donald E. Bobo Jr. sold 5,000 shares on September 11 for an average price of $66.77, amounting to around $333,850. Following this sale, he now owns approximately 46,936 shares valued at nearly $3.13 million. Collectively, insiders have sold a total of 11,250 shares worth around $751,688 in the last quarter, representing a 1.29% ownership of the company’s stock.

About Edwards Lifesciences

Edwards Lifesciences Corporation is a leading company specializing in products and technologies that address structural heart disease and critical care monitoring globally. They provide transcatheter heart valve replacement products that allow for minimally invasive aortic valve replacements, along with transcatheter heart valve repair and replacement options targeted at mitral and tricuspid valve diseases, including the well-known Edwards SAPIEN and PASCAL PRECISION valve systems.

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