Bank of Nova Scotia Buys 36,345 Shares of Edwards Lifesciences Co. (NYSE:EW)

Bank of Nova Scotia increased its stake in shares of Edwards Lifesciences Co. (NYSE:EW - Free Report) by 20.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 216,604 shares of the medical research company's stock after purchasing an additional 36,345 shares during the quarter. Bank of Nova Scotia's holdings in Edwards Lifesciences were worth $16,048,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Abacus Planning Group Inc. grew its holdings in shares of Edwards Lifesciences by 0.3% during the 4th quarter. Abacus Planning Group Inc. now owns 40,207 shares of the medical research company's stock worth $2,977,000 after acquiring an additional 140 shares during the period. Bowman & Co S.C. lifted its position in shares of Edwards Lifesciences by 1.2% during the fourth quarter. Bowman & Co S.C. now owns 12,487 shares of the medical research company's stock worth $924,000 after purchasing an additional 148 shares in the last quarter. Moors & Cabot Inc. boosted its position in shares of Edwards Lifesciences by 0.3% in the 4th quarter. Moors & Cabot Inc. now owns 54,589 shares of the medical research company's stock valued at $4,041,000 after purchasing an additional 152 shares during the period. Quadrant Capital Group LLC grew its position in Edwards Lifesciences by 3.1% during the 4th quarter. Quadrant Capital Group LLC now owns 5,180 shares of the medical research company's stock worth $383,000 after purchasing an additional 156 shares in the last quarter. Finally, Pegasus Asset Management Inc. lifted its holdings in shares of Edwards Lifesciences by 0.4% in the fourth quarter. Pegasus Asset Management Inc. now owns 42,628 shares of the medical research company's stock valued at $3,156,000 after purchasing an additional 159 shares in the last quarter. 79.46% of the stock is owned by institutional investors and hedge funds.

Edwards Lifesciences Stock Up 1.1 %

EW traded up $0.76 during trading on Wednesday, reaching $71.52. 960,371 shares of the stock traded hands, compared to its average volume of 4,896,736. Edwards Lifesciences Co. has a fifty-two week low of $58.93 and a fifty-two week high of $95.25. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.46 and a quick ratio of 2.89. The stock has a market cap of $42.04 billion, a price-to-earnings ratio of 10.26, a price-to-earnings-growth ratio of 4.82 and a beta of 1.15. The stock's 50-day simple moving average is $71.27 and its two-hundred day simple moving average is $70.76.

Edwards Lifesciences (NYSE:EW - Get Free Report) last issued its quarterly earnings data on Tuesday, February 11th. The medical research company reported $0.59 EPS for the quarter, topping analysts' consensus estimates of $0.55 by $0.04. Edwards Lifesciences had a return on equity of 19.40% and a net margin of 72.93%. As a group, equities research analysts expect that Edwards Lifesciences Co. will post 2.45 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on EW. Barclays boosted their price objective on shares of Edwards Lifesciences from $88.00 to $90.00 and gave the stock an "overweight" rating in a research report on Thursday, February 13th. Morgan Stanley upped their target price on shares of Edwards Lifesciences from $70.00 to $75.00 and gave the company an "equal weight" rating in a research note on Wednesday, February 12th. Piper Sandler boosted their price objective on shares of Edwards Lifesciences from $70.00 to $73.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 12th. Wolfe Research cut Edwards Lifesciences from a "hold" rating to a "strong sell" rating in a research report on Wednesday, February 12th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and set a $85.00 price target on shares of Edwards Lifesciences in a research report on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, Edwards Lifesciences presently has a consensus rating of "Hold" and a consensus target price of $78.55.

Insider Activity at Edwards Lifesciences

In other news, Director Steven R. Loranger sold 5,739 shares of the company's stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $76.42, for a total transaction of $438,574.38. Following the completion of the sale, the director now owns 60,372 shares of the company's stock, valued at approximately $4,613,628.24. This represents a 8.68 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Donald E. Bobo, Jr. sold 9,500 shares of the business's stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $69.81, for a total transaction of $663,195.00. Following the transaction, the vice president now owns 47,206 shares in the company, valued at $3,295,450.86. This represents a 16.75 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 72,353 shares of company stock valued at $5,197,442. 1.29% of the stock is 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.