The Manufacturers Life Insurance Company Has $124.57 Million Holdings in Edwards Lifesciences Co. (NYSE:EW)

The Manufacturers Life Insurance Company cut its holdings in shares of Edwards Lifesciences Co. (NYSE:EW) by 8.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,887,644 shares of the medical research company’s stock after selling 171,798 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.32% of Edwards Lifesciences worth $124,567,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of EW. First Community Trust NA acquired a new position in shares of Edwards Lifesciences during the second quarter worth approximately $29,000. Prospera Private Wealth LLC acquired a new position in shares of Edwards Lifesciences during the third quarter worth approximately $32,000. Avior Wealth Management LLC lifted its holdings in shares of Edwards Lifesciences by 138.7% during the third quarter. Avior Wealth Management LLC now owns 530 shares of the medical research company’s stock worth $35,000 after buying an additional 308 shares during the last quarter. Webster Bank N. A. acquired a new position in shares of Edwards Lifesciences during the second quarter worth approximately $39,000. Finally, Peoples Bank KS acquired a new position in shares of Edwards Lifesciences during the third quarter worth approximately $40,000. 79.46% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Robert W. Baird cut their target price on Edwards Lifesciences from $73.00 to $68.00 and set a “neutral” rating for the company in a research note on Friday, October 25th. JPMorgan Chase & Co. upped their target price on Edwards Lifesciences from $72.00 to $78.00 and gave the company a “neutral” rating in a research note on Friday, October 25th. 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. Jefferies Financial Group lowered Edwards Lifesciences from a “buy” rating to a “hold” rating and cut their target price for the company from $85.00 to $70.00 in a research note on Wednesday, September 18th. Finally, Daiwa America lowered Edwards Lifesciences from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Seventeen analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $75.67.

Edwards Lifesciences Price Performance

Edwards Lifesciences stock opened at $71.56 on Wednesday. The business’s 50-day simple moving average is $67.83 and its 200 day simple moving average is $75.37. The stock has a market cap of $42.20 billion, a price-to-earnings ratio of 10.33, a P/E/G ratio of 3.96 and a beta of 1.12. Edwards Lifesciences Co. has a 12-month low of $58.93 and a 12-month high of $96.12. The company has a quick ratio of 2.89, a current ratio of 3.46 and a debt-to-equity ratio of 0.06.

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

Insider Buying and Selling at Edwards Lifesciences

In other Edwards Lifesciences news, VP Donald E. Bobo, Jr. sold 5,000 shares of the stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $69.51, for a total value of $347,550.00. Following the transaction, the vice president now owns 46,936 shares of the company’s stock, valued at approximately $3,262,521.36. This represents a 9.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Larry L. Wood sold 25,000 shares of the stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $65.91, for a total value of $1,647,750.00. Following the completion of the transaction, the insider now directly owns 198,526 shares in the company, valued at $13,084,848.66. The trade was a 11.18 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 40,000 shares of company stock valued at $2,657,000. 1.29% of the stock is currently owned by company insiders.

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.