Edwards Lifesciences Co. (NYSE:EW) Shares Purchased by CIBC Asset Management Inc

CIBC Asset Management Inc raised its position in shares of Edwards Lifesciences Co. (NYSE:EW - Free Report) by 6.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 125,400 shares of the medical research company's stock after buying an additional 7,749 shares during the quarter. CIBC Asset Management Inc's holdings in Edwards Lifesciences were worth $8,275,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Crewe Advisors LLC purchased a new position in shares of Edwards Lifesciences in the 1st quarter worth approximately $28,000. First Community Trust NA bought a new position in Edwards Lifesciences during the second quarter valued at $29,000. Webster Bank N. A. purchased a new stake in shares of Edwards Lifesciences in the second quarter valued at $39,000. Versant Capital Management Inc boosted its stake in shares of Edwards Lifesciences by 206.3% during the 2nd quarter. Versant Capital Management Inc now owns 484 shares of the medical research company's stock worth $45,000 after purchasing an additional 326 shares during the period. Finally, HHM Wealth Advisors LLC purchased a new position in shares of Edwards Lifesciences during the 2nd quarter worth about $55,000. Hedge funds and other institutional investors own 79.46% of the company's stock.

Analyst Upgrades and Downgrades

EW has been the subject of several recent analyst reports. Morgan Stanley restated an "equal weight" rating and set a $70.00 target price on shares of Edwards Lifesciences in a research report on Friday, October 11th. Sanford C. Bernstein upgraded Edwards Lifesciences from a "strong sell" rating to a "hold" rating in a report on Monday, October 28th. Wells Fargo & Company reduced their target price on Edwards Lifesciences from $90.00 to $80.00 and set an "overweight" rating on the stock in a research note on Monday, September 9th. Canaccord Genuity Group cut their price target on shares of Edwards Lifesciences from $66.00 to $63.00 and set a "hold" rating on the stock in a report on Friday, October 25th. Finally, Baird R W lowered shares of Edwards Lifesciences from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 25th. Seventeen equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, Edwards Lifesciences currently has an average rating of "Hold" and an average price target of $75.67.

Insider Buying and Selling

In related news, VP Daveen Chopra sold 1,250 shares of the business's stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $69.95, for a total value of $87,437.50. Following the completion of the sale, the vice president now owns 29,333 shares of the company's stock, valued at approximately $2,051,843.35. The trade was a 4.09 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Donald E. Bobo, Jr. sold 5,000 shares of the stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $65.57, for a total transaction of $327,850.00. Following the transaction, the vice president now directly owns 46,936 shares in the company, valued at approximately $3,077,593.52. The trade was a 9.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 41,250 shares of company stock valued at $2,744,438. Corporate insiders own 1.29% of the company's stock.

Edwards Lifesciences Stock Performance

Shares of NYSE:EW traded up $1.60 during trading on Friday, hitting $67.76. The stock had a trading volume of 7,530,072 shares, compared to its average volume of 5,248,893. The company has a quick ratio of 2.89, a current ratio of 3.46 and a debt-to-equity ratio of 0.06. Edwards Lifesciences Co. has a 12-month low of $58.93 and a 12-month high of $96.12. The stock has a market capitalization of $39.96 billion, a price-to-earnings ratio of 9.78, a price-to-earnings-growth ratio of 3.81 and a beta of 1.12. The stock has a 50-day simple moving average of $67.44 and a two-hundred day simple moving average of $76.18.

Edwards Lifesciences (NYSE:EW - Get Free Report) last posted its quarterly earnings results on Thursday, October 24th. The medical research company reported $0.67 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.67. The company had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.57 billion. Edwards Lifesciences had a net margin of 70.82% and a return on equity of 20.76%. Edwards Lifesciences's revenue for the quarter was up 8.9% compared to the same quarter last year. During the same period last year, the firm posted $0.59 EPS. On average, equities research analysts expect that Edwards Lifesciences Co. will post 2.57 earnings per share for the current fiscal year.

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.