Cibc World Markets Corp Grows Stock Position in Edwards Lifesciences Co. (NYSE:EW)

Cibc World Markets Corp raised its position in Edwards Lifesciences Co. (NYSE:EW - Free Report) by 14.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 93,645 shares of the medical research company's stock after purchasing an additional 11,873 shares during the quarter. Cibc World Markets Corp's holdings in Edwards Lifesciences were worth $6,933,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. FSA Wealth Management LLC purchased a new position in Edwards Lifesciences in the 3rd quarter worth about $30,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Edwards Lifesciences during the fourth quarter worth approximately $30,000. Prospera Private Wealth LLC purchased a new position in shares of Edwards Lifesciences during the third quarter worth approximately $32,000. Avior Wealth Management LLC increased its position in shares of Edwards Lifesciences by 138.7% during the third quarter. Avior Wealth Management LLC now owns 530 shares of the medical research company's stock worth $35,000 after acquiring an additional 308 shares during the period. Finally, Roble Belko & Company Inc purchased a new position in Edwards Lifesciences during the 4th quarter worth $46,000. 79.46% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CEO Bernard J. Zovighian sold 6,164 shares of the firm's stock in a transaction that occurred on Monday, March 10th. The stock was 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available 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 transaction of $645,620.00. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 51,303 shares of company stock valued at $3,715,776. Corporate insiders own 1.29% of the company's stock.

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Edwards Lifesciences Stock Performance

NYSE EW traded down $0.50 during trading hours on Friday, reaching $70.46. The stock had a trading volume of 7,144,270 shares, compared to its average volume of 4,607,998. The stock has a fifty day moving average of $71.42 and a 200 day moving average of $70.36. The stock has a market cap of $41.42 billion, a P/E ratio of 10.11, a price-to-earnings-growth ratio of 4.82 and a beta of 1.12. Edwards Lifesciences Co. has a 52-week low of $58.93 and a 52-week high of $96.12. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.89 and a current ratio of 3.46.

Edwards Lifesciences (NYSE:EW - Get Free Report) last released its quarterly earnings data on Tuesday, February 11th. The medical research company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.55 by $0.04. Edwards Lifesciences had a net margin of 72.93% and a return on equity of 19.40%. Sell-side analysts predict that Edwards Lifesciences Co. will post 2.45 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. The Goldman Sachs Group raised their price objective on Edwards Lifesciences from $81.00 to $90.00 and gave the stock a "buy" rating in a report on Thursday, December 5th. Royal Bank of Canada reissued an "outperform" rating and set a $85.00 target price on shares of Edwards Lifesciences in a research report on Wednesday, February 12th. Bank of America raised shares of Edwards Lifesciences from a "neutral" rating to a "buy" rating and raised their target price for the company from $82.00 to $90.00 in a research report on Monday, December 16th. Piper Sandler lifted 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. Finally, Morgan Stanley lifted their price objective on shares of Edwards Lifesciences from $70.00 to $75.00 and gave the company an "equal weight" rating in a report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, Edwards Lifesciences currently has an average rating of "Hold" and a consensus price target of $79.95.

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.