Connor Clark & Lunn Investment Management Ltd. Grows Stock Holdings in Edwards Lifesciences Co. (NYSE:EW)

Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Edwards Lifesciences Co. (NYSE:EW - Free Report) by 77.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 380,103 shares of the medical research company's stock after purchasing an additional 166,403 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 0.06% of Edwards Lifesciences worth $28,139,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Avantax Advisory Services Inc. lifted its stake in shares of Edwards Lifesciences by 12.1% in the fourth quarter. Avantax Advisory Services Inc. now owns 9,675 shares of the medical research company's stock worth $716,000 after buying an additional 1,043 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of Edwards Lifesciences by 27.6% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,304 shares of the medical research company's stock worth $97,000 after buying an additional 282 shares in the last quarter. Sequoia Financial Advisors LLC lifted its stake in shares of Edwards Lifesciences by 17.0% in the fourth quarter. Sequoia Financial Advisors LLC now owns 8,078 shares of the medical research company's stock worth $598,000 after buying an additional 1,176 shares in the last quarter. Moors & Cabot Inc. lifted its stake in shares of Edwards Lifesciences by 0.3% in the fourth quarter. Moors & Cabot Inc. now owns 54,589 shares of the medical research company's stock worth $4,041,000 after buying an additional 152 shares in the last quarter. Finally, Natural Investments LLC purchased a new position in shares of Edwards Lifesciences in the fourth quarter worth about $392,000. Hedge funds and other institutional investors own 79.46% of the company's stock.

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Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Royal Bank of Canada reissued an "outperform" rating and issued a $85.00 price objective on shares of Edwards Lifesciences in a report on Wednesday, February 12th. Piper Sandler upped their price objective on shares of Edwards Lifesciences from $70.00 to $73.00 and gave the company a "neutral" rating in a report on Wednesday, February 12th. Wolfe Research lowered shares of Edwards Lifesciences from a "hold" rating to a "strong sell" rating in a report on Wednesday, February 12th. Barclays upped their price objective 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. Finally, Citigroup boosted their price objective on shares of Edwards Lifesciences from $81.00 to $83.00 and gave the company a "buy" rating in a report on Wednesday, December 11th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and twelve have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $79.95.

Insiders Place Their Bets

In other news, CEO Bernard J. Zovighian sold 6,164 shares of the business's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $69.51, for a total value of $428,459.64. Following the completion of the sale, the chief executive officer now directly owns 59,083 shares of the company's stock, valued at approximately $4,106,859.33. The trade was a 9.45 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Donald E. Bobo, Jr. sold 9,500 shares of the firm's stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $67.96, for a total value of $645,620.00. Following the transaction, the vice president now directly owns 46,936 shares in the company, valued at approximately $3,189,770.56. This represents a 16.83 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 53,803 shares of company stock valued at $3,900,976 in the last ninety days. Insiders own 1.29% of the company's stock.

Edwards Lifesciences Stock Up 2.1 %

NYSE EW traded up $1.42 during trading hours on Friday, hitting $69.37. 3,587,135 shares of the company were exchanged, compared to its average volume of 4,523,569. The company has a 50 day moving average of $71.74 and a two-hundred day moving average of $70.33. 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 52-week low of $58.93 and a 52-week high of $96.12. The firm has a market cap of $40.78 billion, a price-to-earnings ratio of 9.95, a PEG ratio of 4.82 and a beta of 1.12.

Edwards Lifesciences (NYSE:EW - Get Free Report) last issued its quarterly earnings results on Tuesday, February 11th. The medical research company reported $0.59 earnings per share for the quarter, topping 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%. Equities research analysts anticipate that Edwards Lifesciences Co. will post 2.45 earnings per share for the current year.

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.