CANADA LIFE ASSURANCE Co Cuts Stock Position in Edwards Lifesciences Co. (NYSE:EW)

CANADA LIFE ASSURANCE Co reduced its position in shares of Edwards Lifesciences Co. (NYSE:EW - Free Report) by 5.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 675,788 shares of the medical research company's stock after selling 40,922 shares during the quarter. CANADA LIFE ASSURANCE Co owned about 0.11% of Edwards Lifesciences worth $50,023,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. Canada Pension Plan Investment Board grew its holdings in Edwards Lifesciences by 80.1% during the 4th quarter. Canada Pension Plan Investment Board now owns 762,740 shares of the medical research company's stock worth $56,466,000 after acquiring an additional 339,299 shares during the period. GKV Capital Management Co. Inc. bought a new position in shares of Edwards Lifesciences in the 4th quarter worth $910,000. Marshall Wace LLP grew its stake in shares of Edwards Lifesciences by 55.7% during the fourth quarter. Marshall Wace LLP now owns 5,813,419 shares of the medical research company's stock worth $430,367,000 after purchasing an additional 2,079,642 shares during the period. NewEdge Advisors LLC increased its holdings in Edwards Lifesciences by 16.3% in the fourth quarter. NewEdge Advisors LLC now owns 104,650 shares of the medical research company's stock valued at $7,747,000 after purchasing an additional 14,683 shares during the last quarter. Finally, United Capital Financial Advisors LLC lifted its stake in Edwards Lifesciences by 64.8% in the fourth quarter. United Capital Financial Advisors LLC now owns 24,859 shares of the medical research company's stock valued at $1,840,000 after buying an additional 9,779 shares during the period. Institutional investors own 79.46% of the company's stock.

Edwards Lifesciences Stock Performance

EW stock traded down $2.30 during trading on Monday, reaching $69.23. The stock had a trading volume of 3,767,362 shares, compared to its average volume of 4,926,556. Edwards Lifesciences Co. has a 52 week low of $58.93 and a 52 week high of $95.25. The firm has a market cap of $40.70 billion, a PE ratio of 9.93, a PEG ratio of 4.82 and a beta of 1.15. 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 stock's 50 day moving average is $71.31 and its two-hundred day moving average is $70.92.

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

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Barclays boosted their price target on shares of Edwards Lifesciences from $88.00 to $90.00 and gave the company an "overweight" rating in a report on Thursday, February 13th. Stifel Nicolaus raised Edwards Lifesciences from a "hold" rating to a "buy" rating and raised their price target for the stock from $75.00 to $90.00 in a research report on Thursday, January 30th. Truist Financial cut their price objective on Edwards Lifesciences from $78.00 to $75.00 and set a "hold" rating on the stock in a report on Friday, April 11th. Wolfe Research downgraded shares of Edwards Lifesciences from a "hold" rating to a "strong sell" rating in a report on Wednesday, February 12th. Finally, Morgan Stanley upped their price target on shares of Edwards Lifesciences from $70.00 to $75.00 and gave the company an "equal weight" rating in a report on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, Edwards Lifesciences currently has an average rating of "Hold" and a consensus target price of $78.55.

Insiders Place Their Bets

In related news, CEO Bernard J. Zovighian sold 6,164 shares of the company's stock in a transaction on Monday, March 10th. The shares were 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. This represents a 9.45 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Steven R. Loranger sold 5,739 shares of the stock in a transaction on 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 sale, the director now owns 60,372 shares of the company's stock, valued at $4,613,628.24. The trade was a 8.68 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 71,853 shares of company stock worth $5,163,062 over the last quarter. 1.29% of the stock is currently owned by corporate insiders.

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.