Canada Pension Plan Investment Board Buys 339,299 Shares of Edwards Lifesciences Co. (NYSE:EW)

Canada Pension Plan Investment Board grew its stake in Edwards Lifesciences Co. (NYSE:EW - Free Report) by 80.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 762,740 shares of the medical research company's stock after buying an additional 339,299 shares during the period. Canada Pension Plan Investment Board owned 0.13% of Edwards Lifesciences worth $56,466,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. raised its stake in Edwards Lifesciences by 10.4% during the 4th quarter. Vanguard Group Inc. now owns 69,132,036 shares of the medical research company's stock worth $5,117,845,000 after buying an additional 6,537,494 shares during the period. Wellington Management Group LLP grew its stake in Edwards Lifesciences by 5.3% in the 4th quarter. Wellington Management Group LLP now owns 33,210,879 shares of the medical research company's stock valued at $2,458,601,000 after purchasing an additional 1,678,154 shares during the period. Geode Capital Management LLC increased its stake in shares of Edwards Lifesciences by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 13,647,341 shares of the medical research company's stock worth $1,007,520,000 after purchasing an additional 126,194 shares during the last quarter. Fisher Asset Management LLC increased its position in Edwards Lifesciences by 7.7% in the fourth quarter. Fisher Asset Management LLC now owns 9,775,276 shares of the medical research company's stock worth $723,664,000 after buying an additional 696,965 shares during the last quarter. Finally, Norges Bank bought a new stake in Edwards Lifesciences in the 4th quarter valued at about $610,895,000. Institutional investors own 79.46% of the company's stock.

Edwards Lifesciences Stock Performance

EW traded down $2.30 during mid-day trading on Monday, reaching $69.23. 3,767,362 shares of the company traded hands, compared to its average volume of 4,926,556. The stock has a market capitalization of $40.70 billion, a P/E ratio of 9.93, a P/E/G ratio of 4.82 and a beta of 1.15. Edwards Lifesciences Co. has a 52-week low of $58.93 and a 52-week high of $95.25. The company has a quick ratio of 2.89, a current ratio of 3.46 and a debt-to-equity ratio of 0.06. The company's fifty day moving average price is $71.18 and its 200-day moving average price is $70.95.

Edwards Lifesciences (NYSE:EW - Get Free Report) last posted its earnings results on Tuesday, February 11th. The medical research company reported $0.59 earnings per share 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%. On average, sell-side analysts expect that Edwards Lifesciences Co. will post 2.45 EPS for the current year.

Insider Activity

In other news, Director Steven R. Loranger sold 5,739 shares of the 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 sale, the director now directly owns 60,372 shares of the company's stock, valued at $4,613,628.24. This represents a 8.68 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Daniel J. Lippis sold 400 shares of the company's stock in a transaction on Monday, March 10th. The stock was sold at an average price of $69.48, for a total transaction of $27,792.00. Following the completion of the transaction, the vice president now directly owns 22,588 shares of the company's stock, valued at $1,569,414.24. This represents a 1.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 71,853 shares of company stock valued at $5,163,062 in the last 90 days. Company insiders own 1.29% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Truist Financial cut their price target on Edwards Lifesciences from $78.00 to $75.00 and set a "hold" rating for the company in a report on Friday, April 11th. 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 research note on Thursday, February 13th. Morgan Stanley raised their target price on Edwards Lifesciences from $70.00 to $75.00 and gave the stock an "equal weight" rating in a research note on Wednesday, February 12th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $85.00 target price on shares of Edwards Lifesciences in a research report on Wednesday, February 12th. Finally, Wolfe Research cut Edwards Lifesciences from a "hold" rating to a "strong sell" rating in a research note on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $78.55.

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.