Edwards Lifesciences Co. (NYSE:EW) Shares Sold by CIBC Private Wealth Group LLC

CIBC Private Wealth Group LLC cut its holdings in shares of Edwards Lifesciences Co. (NYSE:EW - Free Report) by 91.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 226,172 shares of the medical research company's stock after selling 2,302,841 shares during the quarter. CIBC Private Wealth Group LLC's holdings in Edwards Lifesciences were worth $16,771,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of EW. Vanguard Group Inc. raised its stake in shares of Edwards Lifesciences by 10.4% in the fourth quarter. Vanguard Group Inc. now owns 69,132,036 shares of the medical research company's stock valued at $5,117,845,000 after acquiring an additional 6,537,494 shares in the last quarter. Wellington Management Group LLP raised its holdings in Edwards Lifesciences by 86.3% in the third quarter. Wellington Management Group LLP now owns 31,532,725 shares of the medical research company's stock valued at $2,080,845,000 after acquiring an additional 14,610,123 shares in the last quarter. State Street Corp lifted its stake in Edwards Lifesciences by 1.0% in the third quarter. State Street Corp now owns 26,265,633 shares of the medical research company's stock worth $1,733,270,000 after acquiring an additional 256,538 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Edwards Lifesciences by 2.2% in the 3rd quarter. Geode Capital Management LLC now owns 13,521,147 shares of the medical research company's stock valued at $889,050,000 after purchasing an additional 284,918 shares in the last quarter. Finally, Fisher Asset Management LLC lifted its position in shares of Edwards Lifesciences by 7.7% during the 4th quarter. Fisher Asset Management LLC now owns 9,775,276 shares of the medical research company's stock worth $723,664,000 after purchasing an additional 696,965 shares during the last quarter. 79.46% of the stock is owned by institutional investors and hedge funds.

Edwards Lifesciences Price Performance

Shares of NYSE EW traded down $3.59 on Friday, hitting $69.39. The company's stock had a trading volume of 7,511,781 shares, compared to its average volume of 4,846,895. The stock has a 50 day moving average of $71.74 and a 200-day moving average of $70.64. The company has a market capitalization of $40.79 billion, a price-to-earnings ratio of 9.95, a price-to-earnings-growth ratio of 4.82 and a beta of 1.15. Edwards Lifesciences Co. has a 12-month low of $58.93 and a 12-month 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.

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 return on equity of 19.40% and a net margin of 72.93%. As a group, research analysts predict that Edwards Lifesciences Co. will post 2.45 EPS for the current year.

Insiders Place Their Bets

In other Edwards Lifesciences news, CEO Bernard J. Zovighian sold 6,164 shares of Edwards Lifesciences 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 transaction, the chief executive officer now owns 59,083 shares in the company, valued at $4,106,859.33. This trade represents a 9.45 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Steven R. Loranger sold 5,739 shares of Edwards Lifesciences stock in a transaction on Friday, February 14th. The shares were sold at an average price of $76.42, for a total value of $438,574.38. Following the completion of the transaction, the director now owns 60,372 shares in the company, 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 have sold 62,553 shares of company stock valued at $4,513,064 in the last ninety days. Insiders own 1.29% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on EW. Stifel Nicolaus upgraded Edwards Lifesciences from a "hold" rating to a "buy" rating and increased their price objective for the company from $75.00 to $90.00 in a report on Thursday, January 30th. 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. Canaccord Genuity Group lifted their price target on shares of Edwards Lifesciences from $68.00 to $71.00 and gave the stock a "hold" rating in a research note on Thursday, February 13th. Morgan Stanley upped their price objective 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. Finally, Wolfe Research cut Edwards Lifesciences from a "hold" rating to a "strong sell" rating in a research report on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $79.95.

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.