CIBC Private Wealth Group LLC Cuts Stock Position in Edwards Lifesciences Co. (NYSE:EW)

CIBC Private Wealth Group LLC trimmed its position in shares of Edwards Lifesciences Co. (NYSE:EW) by 91.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 226,172 shares of the medical research company’s stock after selling 2,302,841 shares during the period. CIBC Private Wealth Group LLC’s holdings in Edwards Lifesciences were worth $16,771,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of EW. Schroder Investment Management Group bought a new stake in Edwards Lifesciences in the fourth quarter worth $7,176,000. Allianz SE purchased a new position in shares of Edwards Lifesciences in the fourth quarter worth about $339,000. Allstate Corp bought a new stake in shares of Edwards Lifesciences in the 4th quarter valued at about $1,316,000. Brown Brothers Harriman & Co. boosted its holdings in Edwards Lifesciences by 17.6% during the 4th quarter. Brown Brothers Harriman & Co. now owns 1,183 shares of the medical research company’s stock valued at $88,000 after acquiring an additional 177 shares during the period. Finally, DnB Asset Management AS grew its position in Edwards Lifesciences by 3.6% during the 4th quarter. DnB Asset Management AS now owns 327,924 shares of the medical research company’s stock worth $24,276,000 after acquiring an additional 11,348 shares during the last quarter. Institutional investors own 79.46% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on EW. Royal Bank of Canada reissued an “outperform” rating and set a $85.00 price objective on shares of Edwards Lifesciences in a research note on Wednesday, February 12th. Barclays increased their price target 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. The Goldman Sachs Group upped their price objective on shares of Edwards Lifesciences from $81.00 to $90.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Morgan Stanley increased their target price on shares of Edwards Lifesciences from $70.00 to $75.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 12th. Finally, Stifel Nicolaus upgraded Edwards Lifesciences from a “hold” rating to a “buy” rating and boosted their price target for the company from $75.00 to $90.00 in a report on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $79.95.

Edwards Lifesciences Stock Up 2.3 %

EW stock opened at $72.56 on Tuesday. The company has a quick ratio of 2.89, a current ratio of 3.46 and a debt-to-equity ratio of 0.06. The business has a 50 day moving average of $71.55 and a 200 day moving average of $70.56. Edwards Lifesciences Co. has a twelve month low of $58.93 and a twelve month high of $95.73. The firm has a market cap of $42.66 billion, a PE ratio of 10.41, 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 return on equity of 19.40% and a net margin of 72.93%. On average, research analysts forecast that Edwards Lifesciences Co. will post 2.45 EPS for the current fiscal year.

Insider Buying and Selling

In other Edwards Lifesciences news, CEO Bernard J. Zovighian sold 6,164 shares of the business’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $69.51, for a total value of $428,459.64. Following the completion of the transaction, the chief executive officer now owns 59,083 shares of the company’s stock, valued at approximately $4,106,859.33. The trade was a 9.45 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Daniel J. Lippis sold 500 shares of the firm’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $68.76, for a total transaction of $34,380.00. Following the sale, the vice president now directly owns 23,189 shares in the company, valued at approximately $1,594,475.64. The trade was a 2.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 62,553 shares of company stock worth $4,513,064 in the last three months. Insiders own 1.29% of the company’s stock.

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.