Edwards Lifesciences Co. (NYSE:EW) Shares Sold by Bank of Montreal Can

Bank of Montreal Can trimmed its stake in shares of Edwards Lifesciences Co. (NYSE:EW) by 3.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,180,984 shares of the medical research company’s stock after selling 46,215 shares during the period. Bank of Montreal Can’s holdings in Edwards Lifesciences were worth $78,630,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Swedbank AB acquired a new stake in Edwards Lifesciences in the first quarter valued at $124,511,000. Bank of New York Mellon Corp boosted its position in shares of Edwards Lifesciences by 4.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 19,782,909 shares of the medical research company’s stock worth $1,827,347,000 after buying an additional 809,605 shares in the last quarter. Fisher Asset Management LLC grew its stake in Edwards Lifesciences by 9.8% in the 3rd quarter. Fisher Asset Management LLC now owns 9,078,311 shares of the medical research company’s stock valued at $599,078,000 after acquiring an additional 806,705 shares during the last quarter. AustralianSuper Pty Ltd increased its holdings in Edwards Lifesciences by 17.8% during the 3rd quarter. AustralianSuper Pty Ltd now owns 3,273,416 shares of the medical research company’s stock valued at $216,013,000 after acquiring an additional 494,604 shares in the last quarter. Finally, United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund raised its position in Edwards Lifesciences by 422.3% during the third quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund now owns 450,233 shares of the medical research company’s stock worth $29,711,000 after acquiring an additional 364,030 shares during the last quarter. Institutional investors and hedge funds own 79.46% of the company’s stock.

Insider Activity at Edwards Lifesciences

In other news, insider Larry L. Wood sold 25,000 shares of the stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $65.91, for a total transaction of $1,647,750.00. Following the transaction, the insider now owns 198,526 shares of the company’s stock, valued at approximately $13,084,848.66. This trade represents a 11.18 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Donald E. Bobo, Jr. sold 5,000 shares of the business’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $66.77, for a total value of $333,850.00. Following the completion of the sale, the vice president now directly owns 46,936 shares of the company’s stock, valued at approximately $3,133,916.72. This 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 40,000 shares of company stock valued at $2,657,000. Insiders own 1.29% of the company’s stock.

Edwards Lifesciences Stock Performance

Edwards Lifesciences stock opened at $71.56 on Wednesday. The firm has a market capitalization of $42.20 billion, a PE ratio of 10.33, a price-to-earnings-growth ratio of 3.96 and a beta of 1.12. The stock’s 50 day moving average price is $67.83 and its 200 day moving average price is $75.37. 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 Co. has a one year low of $58.93 and a one year high of $96.12.

Edwards Lifesciences (NYSE:EW) last issued its quarterly earnings data on Thursday, October 24th. The medical research company reported $0.67 EPS for the quarter, hitting analysts’ consensus estimates of $0.67. The firm had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.57 billion. Edwards Lifesciences had a net margin of 70.82% and a return on equity of 20.76%. The firm’s revenue was up 8.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.59 EPS. As a group, sell-side analysts expect that Edwards Lifesciences Co. will post 2.57 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently commented on EW shares. Sanford C. Bernstein raised shares of Edwards Lifesciences from a “strong sell” rating to a “hold” rating in a research note on Monday, October 28th. Robert W. Baird dropped their price target on Edwards Lifesciences from $73.00 to $68.00 and set a “neutral” rating for the company in a research report on Friday, October 25th. Jefferies Financial Group downgraded Edwards Lifesciences from a “buy” rating to a “hold” rating and reduced their price objective for the company from $85.00 to $70.00 in a research report on Wednesday, September 18th. Truist Financial dropped their price objective on Edwards Lifesciences from $71.00 to $70.00 and set a “hold” rating for the company in a research report on Friday, October 25th. Finally, Piper Sandler reduced their price objective on shares of Edwards Lifesciences from $73.00 to $70.00 and set a “neutral” rating on the stock in a research note on Friday, October 25th. Seventeen equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $75.67.

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.