Cullen Frost Bankers Inc. Reduces Stock Position in Edwards Lifesciences Co. (NYSE:EW)

Cullen Frost Bankers Inc. lessened its position in Edwards Lifesciences Co. (NYSE:EW) by 4.0% during the fourth quarter, Holdings Channel.com reports. The fund owned 177,507 shares of the medical research company’s stock after selling 7,313 shares during the period. Cullen Frost Bankers Inc.’s holdings in Edwards Lifesciences were worth $13,535,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Nordea Investment Management AB lifted its holdings in shares of Edwards Lifesciences by 1,224.1% during the fourth quarter. Nordea Investment Management AB now owns 1,610,412 shares of the medical research company’s stock valued at $123,261,000 after purchasing an additional 1,488,791 shares during the last quarter. Telos Capital Management Inc. grew its position in Edwards Lifesciences by 158.2% during the 4th quarter. Telos Capital Management Inc. now owns 91,405 shares of the medical research company’s stock valued at $6,970,000 after purchasing an additional 56,000 shares during the last quarter. Arlington Trust Co LLC raised its holdings in Edwards Lifesciences by 5,092.4% in the fourth quarter. Arlington Trust Co LLC now owns 12,306 shares of the medical research company’s stock worth $938,000 after buying an additional 12,069 shares during the last quarter. Versor Investments LP lifted its stake in shares of Edwards Lifesciences by 83.3% in the third quarter. Versor Investments LP now owns 4,496 shares of the medical research company’s stock worth $311,000 after buying an additional 2,043 shares in the last quarter. Finally, HealthInvest Partners AB purchased a new stake in shares of Edwards Lifesciences during the fourth quarter valued at approximately $1,587,000. 79.46% of the stock is owned by institutional investors.

Insider Transactions at Edwards Lifesciences

In other Edwards Lifesciences news, CEO Bernard J. Zovighian bought 580 shares of the business’s stock in a transaction dated Monday, May 6th. The shares were purchased at an average price of $85.74 per share, with a total value of $49,729.20. Following the completion of the purchase, the chief executive officer now owns 3,268 shares in the company, valued at approximately $280,198.32. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Edwards Lifesciences news, VP Catherine M. Szyman sold 27,000 shares of the firm’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $85.62, for a total transaction of $2,311,740.00. Following the transaction, the vice president now directly owns 34,814 shares in the company, valued at approximately $2,980,774.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Bernard J. Zovighian purchased 580 shares of the business’s stock in a transaction dated Monday, May 6th. The shares were purchased at an average price of $85.74 per share, for a total transaction of $49,729.20. Following the purchase, the chief executive officer now owns 3,268 shares of the company’s stock, valued at approximately $280,198.32. The disclosure for this purchase can be found here. In the last quarter, insiders sold 237,749 shares of company stock worth $20,920,934. 1.27% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Piper Sandler raised their price target on shares of Edwards Lifesciences from $85.00 to $88.00 and gave the company a “neutral” rating in a report on Friday, April 26th. Oppenheimer increased their target price on Edwards Lifesciences from $93.00 to $100.00 and gave the company an “outperform” rating in a report on Monday, March 18th. StockNews.com upgraded shares of Edwards Lifesciences from a “hold” rating to a “buy” rating in a research report on Monday, April 29th. Citigroup boosted their price objective on shares of Edwards Lifesciences from $90.00 to $98.00 and gave the company a “neutral” rating in a research report on Wednesday, April 3rd. Finally, Stifel Nicolaus boosted their price target on Edwards Lifesciences from $83.00 to $85.00 and gave the company a “hold” rating in a report on Friday, April 26th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $93.27.

Edwards Lifesciences Trading Down 0.9 %

EW traded down $0.75 on Wednesday, hitting $85.09. The company had a trading volume of 1,718,830 shares, compared to its average volume of 3,712,919. The business’s fifty day simple moving average is $90.05 and its 200 day simple moving average is $79.69. The company has a quick ratio of 2.67, a current ratio of 3.75 and a debt-to-equity ratio of 0.08. Edwards Lifesciences Co. has a 12-month low of $60.57 and a 12-month high of $96.12. The company has a market cap of $51.28 billion, a PE ratio of 36.68, a PEG ratio of 3.59 and a beta of 1.10.

Edwards Lifesciences (NYSE:EW) last released its quarterly earnings results on Thursday, April 25th. The medical research company reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.02. The company had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.58 billion. Edwards Lifesciences had a return on equity of 22.86% and a net margin of 23.01%. Equities research analysts expect that Edwards Lifesciences Co. will post 2.77 EPS for the current year.

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.