CIBC Private Wealth Group LLC reduced its position in Edwards Lifesciences Corporation (NYSE:EW – Free Report) by 6.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 95,541 shares of the medical research company’s stock after selling 6,883 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Edwards Lifesciences were worth $7,430,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. CIBC Bancorp USA Inc. acquired a new position in Edwards Lifesciences during the third quarter valued at approximately $6,298,000. Blue Fin Capital Inc. lifted its stake in Edwards Lifesciences by 10.2% during the third quarter. Blue Fin Capital Inc. now owns 2,820 shares of the medical research company’s stock worth $219,000 after purchasing an additional 262 shares during the last quarter. Caerus Investment Advisors LLC acquired a new stake in shares of Edwards Lifesciences in the 3rd quarter valued at $324,000. Captrust Financial Advisors increased its stake in shares of Edwards Lifesciences by 13.7% in the 3rd quarter. Captrust Financial Advisors now owns 58,049 shares of the medical research company’s stock valued at $4,514,000 after purchasing an additional 6,985 shares during the last quarter. Finally, Danske Bank A S bought a new position in shares of Edwards Lifesciences in the 3rd quarter valued at $24,445,000. 79.46% of the stock is currently owned by institutional investors and hedge funds.
Edwards Lifesciences Stock Up 0.1%
Shares of NYSE EW opened at $82.52 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.72 and a quick ratio of 3.09. The stock has a market capitalization of $47.92 billion, a PE ratio of 45.09, a P/E/G ratio of 2.15 and a beta of 0.93. Edwards Lifesciences Corporation has a one year low of $65.94 and a one year high of $87.89. The business’s fifty day moving average price is $82.23 and its 200-day moving average price is $81.64.
Wall Street Analysts Forecast Growth
EW has been the subject of several recent analyst reports. UBS Group restated a “neutral” rating and set a $94.00 price objective on shares of Edwards Lifesciences in a research report on Wednesday, February 4th. Royal Bank Of Canada lifted their target price on Edwards Lifesciences from $95.00 to $100.00 and gave the company an “outperform” rating in a research report on Friday, December 5th. Wells Fargo & Company boosted their target price on Edwards Lifesciences from $96.00 to $100.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 11th. The Goldman Sachs Group reissued a “buy” rating and issued a $95.00 target price (down from $108.00) on shares of Edwards Lifesciences in a report on Wednesday, February 11th. Finally, Canaccord Genuity Group set a $87.00 price target on shares of Edwards Lifesciences and gave the company a “hold” rating in a research note on Wednesday, December 17th. Three investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Edwards Lifesciences presently has a consensus rating of “Moderate Buy” and a consensus price target of $96.14.
Get Our Latest Stock Report on EW
Insider Transactions at Edwards Lifesciences
In other news, CFO Scott B. Ullem sold 13,000 shares of Edwards Lifesciences stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $84.92, for a total value of $1,103,960.00. Following the completion of the transaction, the chief financial officer owned 39,699 shares in the company, valued at $3,371,239.08. This trade represents a 24.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Daniel J. Lippis sold 1,019 shares of the business’s stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $85.38, for a total transaction of $87,002.22. Following the completion of the sale, the vice president directly owned 33,934 shares in the company, valued at approximately $2,897,284.92. This trade represents a 2.92% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 61,718 shares of company stock worth $5,236,281 over the last quarter. Corporate insiders own 1.29% of the company’s stock.
About Edwards Lifesciences
Edwards Lifesciences is a medical technology company focused on products and therapies for structural heart disease and critical care monitoring. The company designs, develops and manufactures prosthetic heart valves and related delivery systems used in both surgical and minimally invasive (transcatheter) procedures. Its portfolio addresses a range of valvular conditions, with an emphasis on technologies that enable transcatheter aortic valve replacement (TAVR) as an alternative to open-heart surgery.
In addition to transcatheter heart valves—including the widely recognized SAPIEN family—Edwards offers surgical tissue valves and ancillary devices used by cardiac surgeons, interventional cardiologists and hospital teams.
Further Reading
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