M&T Bank Corp Reduces Stock Position in Edwards Lifesciences Co. (NYSE:EW)

M&T Bank Corp trimmed its position in shares of Edwards Lifesciences Co. (NYSE:EW - Free Report) by 24.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 39,220 shares of the medical research company's stock after selling 12,841 shares during the period. M&T Bank Corp's holdings in Edwards Lifesciences were worth $2,588,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of EW. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Edwards Lifesciences by 9.2% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 478,418 shares of the medical research company's stock worth $31,571,000 after purchasing an additional 40,348 shares during the last quarter. Raymond James & Associates lifted its stake in shares of Edwards Lifesciences by 2.8% in the 2nd quarter. Raymond James & Associates now owns 1,825,230 shares of the medical research company's stock valued at $168,597,000 after acquiring an additional 50,124 shares during the last quarter. AIA Group Ltd boosted its holdings in Edwards Lifesciences by 91.7% during the 3rd quarter. AIA Group Ltd now owns 749,524 shares of the medical research company's stock valued at $49,461,000 after acquiring an additional 358,556 shares during the period. RiverPark Advisors LLC grew its position in Edwards Lifesciences by 58.1% during the 3rd quarter. RiverPark Advisors LLC now owns 20,639 shares of the medical research company's stock worth $1,362,000 after acquiring an additional 7,583 shares during the last quarter. Finally, Oppenheimer & Co. Inc. increased its stake in Edwards Lifesciences by 40.0% in the 2nd quarter. Oppenheimer & Co. Inc. now owns 36,745 shares of the medical research company's stock worth $3,394,000 after purchasing an additional 10,492 shares during the period. 79.46% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Edwards Lifesciences

In related news, insider Larry L. Wood sold 25,000 shares of the business's stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $65.91, for a total value of $1,647,750.00. Following the completion of the transaction, the insider now directly owns 198,526 shares in the company, valued at $13,084,848.66. The trade was a 11.18 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Donald E. Bobo, Jr. sold 5,000 shares of the company's stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $65.57, for a total value of $327,850.00. Following the completion of the transaction, the vice president now directly owns 46,936 shares in the company, valued at $3,077,593.52. This trade represents a 9.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 35,000 shares of company stock worth $2,323,150. 1.29% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

EW has been the subject of a number of analyst reports. Evercore ISI dropped their price objective on Edwards Lifesciences from $76.00 to $70.00 and set an "in-line" rating for the company in a research note on Tuesday, October 1st. Daiwa America cut shares of Edwards Lifesciences from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, October 30th. Sanford C. Bernstein upgraded shares of Edwards Lifesciences from a "strong sell" rating to a "hold" rating in a research report on Monday, October 28th. Stifel Nicolaus upped their price objective on shares of Edwards Lifesciences from $70.00 to $75.00 and gave the company a "hold" rating in a research note on Thursday, December 5th. Finally, Citigroup raised their target price on Edwards Lifesciences from $81.00 to $83.00 and gave the stock a "buy" rating in a research note on Wednesday. Seventeen investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $78.65.

Edwards Lifesciences Stock Down 0.9 %

NYSE EW traded down $0.65 during trading hours on Friday, reaching $73.32. 3,092,539 shares of the company's stock traded hands, compared to its average volume of 4,642,550. 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 current ratio of 3.46 and a quick ratio of 2.89. The firm has a 50-day simple moving average of $69.42 and a 200 day simple moving average of $73.99. The firm has a market cap of $43.24 billion, a PE ratio of 10.58, a PEG ratio of 3.63 and a beta of 1.12.

Edwards Lifesciences (NYSE:EW - Get Free Report) last announced its earnings results on Thursday, October 24th. The medical research company reported $0.67 earnings per share for the quarter, meeting analysts' consensus estimates of $0.67. Edwards Lifesciences had a net margin of 70.82% and a return on equity of 20.76%. The business had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.57 billion. During the same quarter last year, the firm earned $0.59 earnings per share. The business's revenue for the quarter was up 8.9% on a year-over-year basis. Sell-side analysts anticipate that Edwards Lifesciences Co. will post 2.56 EPS for the current fiscal year.

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.