CIBC Asset Management Inc Buys 7,749 Shares of Edwards Lifesciences Co. (NYSE:EW)

CIBC Asset Management Inc raised its stake in shares of Edwards Lifesciences Co. (NYSE:EW) by 6.6% in the third quarter, Holdings Channel reports. The fund owned 125,400 shares of the medical research company’s stock after acquiring an additional 7,749 shares during the period. CIBC Asset Management Inc’s holdings in Edwards Lifesciences were worth $8,275,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Crewe Advisors LLC bought a new position in shares of Edwards Lifesciences during the first quarter valued at $28,000. First Community Trust NA bought a new position in shares of Edwards Lifesciences during the second quarter valued at $29,000. Webster Bank N. A. bought a new position in shares of Edwards Lifesciences during the second quarter valued at $39,000. Versant Capital Management Inc lifted its holdings in shares of Edwards Lifesciences by 206.3% during the second quarter. Versant Capital Management Inc now owns 484 shares of the medical research company’s stock valued at $45,000 after acquiring an additional 326 shares during the period. Finally, HHM Wealth Advisors LLC acquired a new stake in shares of Edwards Lifesciences in the second quarter valued at $55,000. 79.46% of the stock is owned by institutional investors.

Insider Activity

In other Edwards Lifesciences news, VP Donald E. Bobo, Jr. sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $66.77, for a total value of $333,850.00. Following the sale, the vice president now owns 46,936 shares in the company, valued at approximately $3,133,916.72. The trade was a 9.63 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Daveen Chopra sold 1,250 shares of the business’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $69.95, for a total value of $87,437.50. Following the completion of the sale, the vice president now owns 29,333 shares in the company, valued at $2,051,843.35. The trade was a 4.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 41,250 shares of company stock worth $2,744,438 in the last 90 days. Corporate insiders own 1.29% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on EW. Morgan Stanley restated an “equal weight” rating and issued a $70.00 target price on shares of Edwards Lifesciences in a research note on Friday, October 11th. Sanford C. Bernstein upgraded Edwards Lifesciences from a “strong sell” rating to a “hold” rating in a research note on Monday, October 28th. Oppenheimer restated an “outperform” rating and issued a $90.00 target price on shares of Edwards Lifesciences in a research note on Thursday, September 12th. Truist Financial lowered their target price on Edwards Lifesciences from $71.00 to $70.00 and set a “hold” rating for the company in a research note on Friday, October 25th. Finally, Barclays lowered their target price on Edwards Lifesciences from $90.00 to $80.00 and set an “overweight” rating for the company in a research note on Monday, September 9th. Seventeen analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $75.67.

Edwards Lifesciences Trading Up 2.4 %

NYSE:EW opened at $67.76 on Friday. Edwards Lifesciences Co. has a fifty-two week low of $58.93 and a fifty-two week high of $96.12. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.46 and a quick ratio of 2.89. The stock has a market capitalization of $39.96 billion, a PE ratio of 9.78, a price-to-earnings-growth ratio of 3.74 and a beta of 1.12. The business’s 50-day simple moving average is $67.44 and its 200-day simple moving average is $76.18.

Edwards Lifesciences (NYSE:EW) last released its quarterly earnings data on Thursday, October 24th. The medical research company reported $0.67 earnings per share for the quarter, meeting the consensus estimate of $0.67. Edwards Lifesciences had a return on equity of 20.76% and a net margin of 70.82%. The business had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.57 billion. During the same quarter in the previous year, the business posted $0.59 EPS. Edwards Lifesciences’s revenue for the quarter was up 8.9% on a year-over-year basis. Sell-side analysts expect that Edwards Lifesciences Co. will post 2.57 earnings per share for the current fiscal year.

Edwards Lifesciences 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.