Edwards Lifesciences Co. (NYSE:EW) Shares Acquired by Manitou Investment Management Ltd.

Manitou Investment Management Ltd. raised its holdings in Edwards Lifesciences Co. (NYSE:EW) by 5.7% during the first quarter, Holdings Channel.com reports. The firm owned 189,656 shares of the medical research company’s stock after purchasing an additional 10,205 shares during the quarter. Edwards Lifesciences makes up 2.7% of Manitou Investment Management Ltd.’s investment portfolio, making the stock its 14th largest position. Manitou Investment Management Ltd.’s holdings in Edwards Lifesciences were worth $13,746,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. Brighton Jones LLC acquired a new position in shares of Edwards Lifesciences during the 4th quarter worth $266,000. Empowered Funds LLC grew its position in shares of Edwards Lifesciences by 6.2% in the fourth quarter. Empowered Funds LLC now owns 25,533 shares of the medical research company’s stock valued at $1,890,000 after purchasing an additional 1,501 shares during the last quarter. Ferguson Wellman Capital Management Inc. grew its position in shares of Edwards Lifesciences by 2.7% in the fourth quarter. Ferguson Wellman Capital Management Inc. now owns 27,692 shares of the medical research company’s stock valued at $2,050,000 after purchasing an additional 718 shares during the last quarter. Equitable Trust Co. raised its position in shares of Edwards Lifesciences by 10.9% during the 4th quarter. Equitable Trust Co. now owns 73,042 shares of the medical research company’s stock worth $5,407,000 after purchasing an additional 7,154 shares during the last quarter. Finally, Focus Financial Network Inc. purchased a new stake in Edwards Lifesciences in the 4th quarter valued at approximately $206,000. Hedge funds and other institutional investors own 79.46% of the company’s stock.

Edwards Lifesciences Trading Down 1.5%

EW opened at $76.35 on Tuesday. The firm’s 50 day moving average is $74.07 and its 200-day moving average is $72.82. 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 firm has a market capitalization of $44.79 billion, a P/E ratio of 10.95, a P/E/G ratio of 4.82 and a beta of 1.12.

Edwards Lifesciences (NYSE:EW) last released its quarterly earnings results on Wednesday, April 23rd. The medical research company reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.04. Edwards Lifesciences had a net margin of 72.93% and a return on equity of 19.40%. The firm had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.40 billion. During the same quarter in the previous year, the firm posted $0.66 EPS. The firm’s quarterly revenue was up 6.2% on a year-over-year basis. Analysts expect that Edwards Lifesciences Co. will post 2.45 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have weighed in on EW. Truist Financial dropped their price target on Edwards Lifesciences from $78.00 to $75.00 and set a “hold” rating for the company in a research report on Friday, April 11th. Robert W. Baird boosted their target price on shares of Edwards Lifesciences from $72.00 to $75.00 and gave the company a “neutral” rating in a research note on Thursday, April 24th. Morgan Stanley lifted their price target on shares of Edwards Lifesciences from $70.00 to $75.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 12th. 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. Finally, Canaccord Genuity Group lifted their target price on shares of Edwards Lifesciences from $71.00 to $75.00 and gave the stock a “hold” rating in a research note on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $80.20.

Insider Transactions at Edwards Lifesciences

In other Edwards Lifesciences news, VP Donald E. Bobo, Jr. sold 9,500 shares of the firm’s stock in a transaction on Thursday, March 13th. The shares were 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 of the company’s stock, valued at $3,189,770.56. This trade represents a 16.83% 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, CFO Scott B. Ullem sold 11,250 shares of the company’s stock in a transaction that occurred on Wednesday, March 26th. The shares were sold at an average price of $70.87, for a total value of $797,287.50. Following the sale, the chief financial officer now directly owns 30,387 shares in the company, valued at approximately $2,153,526.69. This represents a 27.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 52,448 shares of company stock valued at $3,768,465. 1.29% of the stock is currently owned by 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.