Edwards Lifesciences Co. (NYSE:EW) Shares Purchased by Cibc World Markets Corp

Cibc World Markets Corp grew its stake in shares of Edwards Lifesciences Co. (NYSE:EW) by 14.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 93,645 shares of the medical research company’s stock after acquiring an additional 11,873 shares during the period. Cibc World Markets Corp’s holdings in Edwards Lifesciences were worth $6,933,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of EW. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Edwards Lifesciences in the fourth quarter worth about $30,000. FSA Wealth Management LLC bought a new position in Edwards Lifesciences during the 3rd quarter worth approximately $30,000. Prospera Private Wealth LLC acquired a new position in shares of Edwards Lifesciences in the 3rd quarter worth approximately $32,000. Avior Wealth Management LLC increased its holdings in shares of Edwards Lifesciences by 138.7% in the 3rd quarter. Avior Wealth Management LLC now owns 530 shares of the medical research company’s stock valued at $35,000 after acquiring an additional 308 shares during the last quarter. Finally, Roble Belko & Company Inc acquired a new stake in shares of Edwards Lifesciences during the 4th quarter valued at approximately $46,000. Institutional investors own 79.46% of the company’s stock.

Wall Street Analyst Weigh In

EW has been the subject of a number of research reports. Piper Sandler lifted their price objective on shares of Edwards Lifesciences from $70.00 to $73.00 and gave the stock a “neutral” rating in a report on Wednesday, February 12th. Barclays boosted their price objective on shares of Edwards Lifesciences from $88.00 to $90.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Truist Financial reissued a “hold” rating and issued a $78.00 target price (up previously from $70.00) on shares of Edwards Lifesciences in a report on Thursday, December 5th. Citigroup lifted their target price on Edwards Lifesciences from $81.00 to $83.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. Finally, Wolfe Research cut Edwards Lifesciences from a “hold” rating to a “strong sell” rating in a research report on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $79.95.

Insider Activity

In related news, VP Daniel J. Lippis sold 500 shares of the company’s stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $68.76, for a total value of $34,380.00. Following the completion of the sale, the vice president now owns 23,189 shares in the company, valued at approximately $1,594,475.64. This represents a 2.11 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Scott B. Ullem sold 11,250 shares of Edwards Lifesciences stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $75.76, for a total transaction of $852,300.00. Following the transaction, the chief financial officer now owns 30,561 shares in the company, valued at approximately $2,315,301.36. The trade was a 26.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 51,303 shares of company stock valued at $3,715,776 over the last three months. Insiders own 1.29% of the company’s stock.

Edwards Lifesciences Stock Performance

NYSE:EW opened at $70.31 on Wednesday. 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 50-day moving average of $71.61 and a 200-day moving average of $70.35. Edwards Lifesciences Co. has a twelve month low of $58.93 and a twelve month high of $96.12. The firm has a market cap of $41.33 billion, a price-to-earnings ratio of 10.09, 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 Tuesday, February 11th. The medical research company reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.04. Edwards Lifesciences had a net margin of 72.93% and a return on equity of 19.40%. Analysts forecast that Edwards Lifesciences Co. will post 2.45 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.