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

Manitou Investment Management Ltd. increased its position in Edwards Lifesciences Co. (NYSE:EW - Free Report) by 5.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor 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 about 2.7% of Manitou Investment Management Ltd.'s portfolio, making the stock its 14th biggest position. Manitou Investment Management Ltd.'s holdings in Edwards Lifesciences were worth $13,746,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Prosperity Consulting Group LLC boosted its holdings in Edwards Lifesciences by 3.6% during the 4th quarter. Prosperity Consulting Group LLC now owns 3,906 shares of the medical research company's stock valued at $289,000 after acquiring an additional 134 shares during the period. Abacus Planning Group Inc. lifted its position in shares of Edwards Lifesciences by 0.3% during the fourth quarter. Abacus Planning Group Inc. now owns 40,207 shares of the medical research company's stock worth $2,977,000 after purchasing an additional 140 shares in the last quarter. Versant Capital Management Inc boosted its stake in shares of Edwards Lifesciences by 9.3% in the first quarter. Versant Capital Management Inc now owns 1,698 shares of the medical research company's stock valued at $123,000 after purchasing an additional 145 shares during the period. Kera Capital Partners Inc. grew its holdings in shares of Edwards Lifesciences by 5.0% in the first quarter. Kera Capital Partners Inc. now owns 3,090 shares of the medical research company's stock valued at $224,000 after purchasing an additional 148 shares in the last quarter. Finally, Moors & Cabot Inc. grew its holdings in shares of Edwards Lifesciences by 0.3% in the fourth quarter. Moors & Cabot Inc. now owns 54,589 shares of the medical research company's stock valued at $4,041,000 after purchasing an additional 152 shares in the last quarter. 79.46% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, VP Donald E. Bobo, Jr. sold 2,570 shares of the stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $77.40, for a total transaction of $198,918.00. Following the completion of the transaction, the vice president now directly owns 50,356 shares of the company's stock, valued at $3,897,554.40. This represents a 4.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Scott B. Ullem sold 11,250 shares of the stock in a transaction on Wednesday, March 26th. The stock was sold at an average price of $70.87, for a total value of $797,287.50. Following the completion of the transaction, the chief financial officer now owns 30,387 shares of the company's stock, valued at $2,153,526.69. The trade was a 27.02% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 52,448 shares of company stock valued at $3,768,465 over the last quarter. 1.29% of the stock is currently owned by insiders.

Edwards Lifesciences Stock Performance

Shares of NYSE EW traded down $0.61 during trading hours on Tuesday, reaching $75.75. The stock had a trading volume of 2,911,809 shares, compared to its average volume of 5,199,073. The firm has a market cap of $44.44 billion, a price-to-earnings ratio of 10.87, a PEG ratio of 4.82 and a beta of 1.12. Edwards Lifesciences Co. has a fifty-two week low of $58.93 and a fifty-two week high of $95.25. The firm has a 50-day moving average of $74.07 and a 200-day moving average of $72.82. The company has a current ratio of 3.46, a quick ratio of 2.89 and a debt-to-equity ratio of 0.06.

Edwards Lifesciences (NYSE:EW - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The medical research company reported $0.64 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.60 by $0.04. Edwards Lifesciences had a net margin of 72.93% and a return on equity of 19.40%. The business had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.40 billion. During the same period last year, the firm posted $0.66 earnings per share. The company's revenue for the quarter was up 6.2% compared to the same quarter last year. Equities research analysts predict that Edwards Lifesciences Co. will post 2.45 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have commented on EW. Robert W. Baird raised their price target on shares of Edwards Lifesciences from $72.00 to $75.00 and gave the company a "neutral" rating in a research report on Thursday, April 24th. Truist Financial lowered their target price on Edwards Lifesciences from $78.00 to $75.00 and set a "hold" rating for the company in a research note on Friday, April 11th. Piper Sandler upped their price target on Edwards Lifesciences from $80.00 to $83.00 and gave the stock an "overweight" rating in a report on Tuesday, May 13th. Canaccord Genuity Group lifted their price objective on Edwards Lifesciences from $71.00 to $75.00 and gave the company a "hold" rating in a research note on Friday, April 25th. Finally, Royal Bank of Canada restated an "outperform" rating and set a $85.00 target price on shares of Edwards Lifesciences in a research note on Wednesday, February 12th. One 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 MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $80.20.

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.