Bank of Montreal Can Trims Stock Holdings in Edwards Lifesciences Co. (NYSE:EW)

Bank of Montreal Can trimmed its holdings in Edwards Lifesciences Co. (NYSE:EW - Free Report) by 22.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 917,870 shares of the medical research company's stock after selling 263,114 shares during the quarter. Bank of Montreal Can owned about 0.16% of Edwards Lifesciences worth $67,950,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in EW. Crowley Wealth Management Inc. bought a new position in shares of Edwards Lifesciences in the 4th quarter valued at about $26,000. Millstone Evans Group LLC bought a new stake in Edwards Lifesciences in the fourth quarter valued at approximately $29,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in Edwards Lifesciences during the fourth quarter worth about $30,000. Roble Belko & Company Inc acquired a new position in shares of Edwards Lifesciences in the 4th quarter valued at approximately $46,000. Finally, Catalyst Capital Advisors LLC bought a new stake in shares of Edwards Lifesciences during the fourth quarter worth $54,000. Institutional investors and hedge funds own 79.46% of the company's stock.

Wall Street Analyst Weigh In

EW has been the topic of a number of recent research reports. Canaccord Genuity Group lifted their price objective on shares of Edwards Lifesciences from $68.00 to $71.00 and gave the company a "hold" rating in a report on Thursday, February 13th. Wolfe Research cut shares of Edwards Lifesciences from a "hold" rating to a "strong sell" rating in a research report on Wednesday, February 12th. Morgan Stanley raised their price objective on Edwards Lifesciences from $70.00 to $75.00 and gave the company an "equal weight" rating in a report on Wednesday, February 12th. Piper Sandler upped their target price on Edwards Lifesciences from $70.00 to $73.00 and gave the stock a "neutral" rating in a report on Wednesday, February 12th. Finally, Bank of America raised shares of Edwards Lifesciences from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $82.00 to $90.00 in a research report on Monday, December 16th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, Edwards Lifesciences currently has an average rating of "Hold" and an average price target of $78.55.

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Edwards Lifesciences Stock Performance

EW traded up $0.77 during trading on Tuesday, hitting $70.64. The company's stock had a trading volume of 942,595 shares, compared to its average volume of 4,627,792. Edwards Lifesciences Co. has a one year low of $58.93 and a one year high of $95.25. The business's 50 day simple moving average is $71.28 and its 200-day simple moving average is $70.76. 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 firm has a market cap of $41.53 billion, a PE ratio of 10.13, a P/E/G ratio of 4.82 and a beta of 1.15.

Edwards Lifesciences (NYSE:EW - Get Free Report) last announced 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%. As a group, sell-side analysts predict that Edwards Lifesciences Co. will post 2.45 EPS for the current fiscal year.

Insider Activity at Edwards Lifesciences

In other news, VP Daniel J. Lippis sold 500 shares of the firm's stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $68.76, for a total transaction of $34,380.00. Following the completion of the transaction, the vice president now owns 23,189 shares in the company, valued at $1,594,475.64. This trade represents a 2.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Donald E. Bobo, Jr. sold 6,500 shares of the firm's stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $75.75, for a total value of $492,375.00. Following the transaction, the vice president now owns 46,936 shares of the company's stock, valued at $3,555,402. This represents a 12.16 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 72,353 shares of company stock valued at $5,197,442. 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.