CIBC Asset Management Inc Sells 31,973 Shares of Edwards Lifesciences Co. (NYSE:EW)

CIBC Asset Management Inc cut its holdings in Edwards Lifesciences Co. (NYSE:EW) by 25.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 93,427 shares of the medical research company’s stock after selling 31,973 shares during the quarter. CIBC Asset Management Inc’s holdings in Edwards Lifesciences were worth $6,916,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of EW. Wellington Management Group LLP lifted its stake in shares of Edwards Lifesciences by 86.3% in the 3rd quarter. Wellington Management Group LLP now owns 31,532,725 shares of the medical research company’s stock valued at $2,080,845,000 after purchasing an additional 14,610,123 shares during the last quarter. State Street Corp raised its holdings in Edwards Lifesciences by 1.0% during the 3rd quarter. State Street Corp now owns 26,265,633 shares of the medical research company’s stock valued at $1,733,270,000 after buying an additional 256,538 shares during the period. Geode Capital Management LLC lifted its position in Edwards Lifesciences by 2.2% in the third quarter. Geode Capital Management LLC now owns 13,521,147 shares of the medical research company’s stock worth $889,050,000 after buying an additional 284,918 shares during the last quarter. Fisher Asset Management LLC boosted its stake in Edwards Lifesciences by 9.8% during the third quarter. Fisher Asset Management LLC now owns 9,078,311 shares of the medical research company’s stock worth $599,078,000 after buying an additional 806,705 shares during the period. Finally, Jennison Associates LLC purchased a new position in Edwards Lifesciences during the fourth quarter worth $555,939,000. Institutional investors own 79.46% of the company’s stock.

Edwards Lifesciences Trading Down 1.2 %

Shares of NYSE EW opened at $74.73 on Thursday. Edwards Lifesciences Co. has a 1-year low of $58.93 and a 1-year high of $96.12. The business has a fifty day moving average price of $72.84 and a 200 day moving average price of $69.82. The stock has a market capitalization of $44.07 billion, a P/E ratio of 10.72, a price-to-earnings-growth ratio of 4.92 and a beta of 1.10. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.46 and a quick ratio of 2.89.

Edwards Lifesciences (NYSE:EW) last released its quarterly earnings results 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%. Equities research analysts expect that Edwards Lifesciences Co. will post 2.45 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Steven R. Loranger sold 5,739 shares of Edwards Lifesciences stock in a transaction that occurred 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 in the company, valued at $4,613,628.24. This trade represents a 8.68 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Daniel J. Lippis sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $74.08, for a total transaction of $185,200.00. Following the transaction, the vice president now owns 23,189 shares in the company, valued at $1,717,841.12. The trade was a 9.73 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 26,489 shares of company stock valued at $2,002,829. 1.27% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on EW. Evercore ISI lowered their target price on shares of Edwards Lifesciences from $75.00 to $73.00 and set an “in-line” rating for the company in a report on Wednesday, February 12th. Canaccord Genuity Group raised their price objective on shares of Edwards Lifesciences from $68.00 to $71.00 and gave the stock a “hold” rating in a research note on Thursday, February 13th. Wolfe Research cut Edwards Lifesciences from a “hold” rating to a “strong sell” rating in a research note on Wednesday, February 12th. Royal Bank of Canada reissued an “outperform” rating and set a $85.00 price target on shares of Edwards Lifesciences in a research note on Wednesday, February 12th. Finally, Stifel Nicolaus raised Edwards Lifesciences from a “hold” rating to a “buy” rating and upped their price objective for the company from $75.00 to $90.00 in a research report on Thursday, January 30th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price 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.