OMERS ADMINISTRATION Corp Boosts Stake in Edwards Lifesciences Co. (NYSE:EW)

OMERS ADMINISTRATION Corp increased its position in shares of Edwards Lifesciences Co. (NYSE:EW) by 2.7% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 133,400 shares of the medical research company’s stock after purchasing an additional 3,481 shares during the quarter. OMERS ADMINISTRATION Corp’s holdings in Edwards Lifesciences were worth $9,876,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of EW. Norges Bank acquired a new position in Edwards Lifesciences during the fourth quarter worth $610,895,000. Jennison Associates LLC acquired a new position in Edwards Lifesciences during the fourth quarter worth $555,939,000. Vanguard Group Inc. raised its holdings in Edwards Lifesciences by 10.4% during the fourth quarter. Vanguard Group Inc. now owns 69,132,036 shares of the medical research company’s stock worth $5,117,845,000 after purchasing an additional 6,537,494 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in Edwards Lifesciences by 475.8% during the fourth quarter. Assenagon Asset Management S.A. now owns 4,243,976 shares of the medical research company’s stock worth $314,182,000 after purchasing an additional 3,506,886 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in Edwards Lifesciences during the fourth quarter worth $213,844,000. 79.46% of the stock is owned by institutional investors and hedge funds.

Edwards Lifesciences Price Performance

EW stock opened at $74.65 on Tuesday. The stock has a 50-day moving average price of $71.52 and a two-hundred day moving average price of $71.55. Edwards Lifesciences Co. has a 12-month low of $58.93 and a 12-month high of $95.25. The company has a current ratio of 3.46, a quick ratio of 2.89 and a debt-to-equity ratio of 0.06. The company has a market cap of $43.79 billion, a PE ratio of 10.71, a price-to-earnings-growth ratio of 4.82 and a beta of 1.12.

Edwards Lifesciences (NYSE:EW) last posted its quarterly earnings results on Wednesday, April 23rd. The medical research company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.04. Edwards Lifesciences had a return on equity of 19.40% and a net margin of 72.93%. The firm had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.40 billion. During the same quarter in the previous year, the business earned $0.66 earnings per share. The firm’s quarterly revenue was up 6.2% compared to the same quarter last year. As a group, research analysts predict that Edwards Lifesciences Co. will post 2.45 EPS for the current year.

Insider Buying and Selling at Edwards Lifesciences

In related news, CFO Scott B. Ullem sold 11,250 shares of the business’s stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $74.40, for a total value of $837,000.00. Following the transaction, the chief financial officer now owns 41,098 shares in the company, valued at approximately $3,057,691.20. The trade was a 21.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Steven R. Loranger sold 5,739 shares of the business’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $76.42, for a total value of $438,574.38. Following the completion of the transaction, the director now owns 60,372 shares in the company, valued at approximately $4,613,628.24. This trade represents a 8.68% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 89,681 shares of company stock valued at $6,492,703. Company insiders own 1.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Piper Sandler raised Edwards Lifesciences from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $73.00 to $80.00 in a report on Thursday, April 24th. Evercore ISI reduced their price objective on Edwards Lifesciences from $75.00 to $73.00 and set an “in-line” rating for the company in a report on Wednesday, February 12th. Stifel Nicolaus raised Edwards Lifesciences from a “hold” rating to a “buy” rating and boosted their price target for the stock from $75.00 to $90.00 in a report on Thursday, January 30th. Canaccord Genuity Group boosted their price target on Edwards Lifesciences from $71.00 to $75.00 and gave the stock a “hold” rating in a report on Friday, April 25th. Finally, StockNews.com raised Edwards Lifesciences from a “hold” rating to a “buy” rating in a report on Thursday, May 8th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $79.45.

About Edwards Lifesciences

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.