CIBC Asset Management Inc Lowers Stock Position in Edwards Lifesciences Co. (NYSE:EW)

CIBC Asset Management Inc lessened its holdings in Edwards Lifesciences Co. (NYSE:EW - Free Report) by 25.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 93,427 shares of the medical research company's stock after selling 31,973 shares during the period. CIBC Asset Management Inc's holdings in Edwards Lifesciences were worth $6,916,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in EW. Alpha Financial Partners LLC acquired a new position in Edwards Lifesciences in the 3rd quarter valued at $693,000. Blue Trust Inc. grew its holdings in Edwards Lifesciences by 59.4% in the 3rd quarter. Blue Trust Inc. now owns 8,049 shares of the medical research company's stock valued at $531,000 after buying an additional 2,998 shares in the last quarter. Eastern Bank acquired a new position in Edwards Lifesciences in the 3rd quarter valued at $98,000. BLB&B Advisors LLC grew its holdings in Edwards Lifesciences by 9.7% in the 3rd quarter. BLB&B Advisors LLC now owns 4,520 shares of the medical research company's stock valued at $298,000 after buying an additional 400 shares in the last quarter. Finally, Lecap Asset Management Ltd. acquired a new position in Edwards Lifesciences in the 3rd quarter valued at $4,080,000. Institutional investors own 79.46% of the company's stock.

Analyst Ratings Changes

EW has been the topic of a number of research reports. The Goldman Sachs Group upped their price objective on Edwards Lifesciences from $81.00 to $90.00 and gave the company a "buy" rating in a report on Thursday, December 5th. Wolfe Research downgraded Edwards Lifesciences from a "hold" rating to a "strong sell" rating in a research report on Wednesday, February 12th. Bank of America upgraded Edwards Lifesciences from a "neutral" rating to a "buy" rating and increased their target price for the company from $82.00 to $90.00 in a research report on Monday, December 16th. Daiwa America downgraded Edwards Lifesciences from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, October 30th. Finally, Truist Financial restated a "hold" rating and set a $78.00 price objective (up from $70.00) on shares of Edwards Lifesciences in a research report on Thursday, December 5th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $79.95.

Edwards Lifesciences Stock Down 1.8 %

Shares of NYSE:EW traded down $1.33 during mid-day trading on Friday, hitting $73.38. 1,146,939 shares of the company traded hands, compared to its average volume of 4,365,402. The stock has a market cap of $43.28 billion, a P/E ratio of 10.56, a P/E/G ratio of 4.82 and a beta of 1.10. The company has a current ratio of 3.46, a quick ratio of 2.89 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 50-day moving average price of $72.86 and a two-hundred day moving average price of $69.86.

Edwards Lifesciences (NYSE:EW - Get Free Report) last announced its earnings results on Tuesday, February 11th. The medical research company reported $0.59 earnings per share (EPS) for the quarter, beating 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, equities research analysts forecast that Edwards Lifesciences Co. will post 2.45 earnings per share for the current year.

Insider Buying and Selling

In other news, VP Daniel J. Lippis sold 500 shares of the business's stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $68.76, for a total value of $34,380.00. Following the sale, the vice president now owns 23,189 shares of the company's stock, valued at $1,594,475.64. The trade was a 2.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 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 sale, the director now owns 60,372 shares in the company, valued at approximately $4,613,628.24. This represents a 8.68 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 26,489 shares of company stock worth $2,002,829. 1.29% of the stock is owned by company insiders.

Edwards Lifesciences 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.