TD Asset Management Inc Has $66.04 Million Position in Edwards Lifesciences Corporation (NYSE:EW)

Key Points

• TD Asset Management Inc reduced its stake in Edwards Lifesciences Corporation by 9.3%, holding 911,186 shares worth approximately $66 million.
• Company insiders, including CEO Bernard J. Zovighian, have recently sold a total of 30,848 shares, indicating a slight decrease in their ownership.
• Analysts have generally positive views on Edwards Lifesciences, with several raising their price targets and a consensus rating of "Moderate Buy" with an average target price of $85.00.

TD Asset Management Inc reduced its position in shares of Edwards Lifesciences Corporation (NYSE:EW - Free Report) by 9.3% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 911,186 shares of the medical research company's stock after selling 93,165 shares during the period. TD Asset Management Inc owned approximately 0.15% of Edwards Lifesciences worth $66,043,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Vega Investment Solutions purchased a new position in shares of Edwards Lifesciences during the 4th quarter worth approximately $27,000. Global X Japan Co. Ltd. boosted its position in Edwards Lifesciences by 116.1% during the first quarter. Global X Japan Co. Ltd. now owns 402 shares of the medical research company's stock worth $29,000 after acquiring an additional 216 shares during the last quarter. Tradewinds Capital Management LLC boosted its position in Edwards Lifesciences by 102.5% during the first quarter. Tradewinds Capital Management LLC now owns 405 shares of the medical research company's stock worth $29,000 after acquiring an additional 205 shares during the last quarter. Rossby Financial LCC acquired a new stake in Edwards Lifesciences during the first quarter worth approximately $29,000. Finally, ORG Wealth Partners LLC acquired a new stake in Edwards Lifesciences during the first quarter worth approximately $38,000. 79.46% of the stock is owned by hedge funds and other institutional investors.

Edwards Lifesciences Trading Down 1.7%

NYSE EW traded down $1.40 during trading on Thursday, reaching $79.76. 1,718,741 shares of the stock traded hands, compared to its average volume of 4,575,327. The firm has a market cap of $46.79 billion, a price-to-earnings ratio of 11.49, a price-to-earnings-growth ratio of 3.90 and a beta of 1.11. The stock's 50-day moving average price is $76.73 and its 200 day moving average price is $73.69. The company has a quick ratio of 3.66, a current ratio of 4.45 and a debt-to-equity ratio of 0.06. Edwards Lifesciences Corporation has a fifty-two week low of $59.41 and a fifty-two week high of $83.00.

Edwards Lifesciences (NYSE:EW - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The medical research company reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.05. The company had revenue of $1.53 billion during the quarter, compared to analysts' expectations of $1.49 billion. Edwards Lifesciences had a net margin of 72.96% and a return on equity of 15.25%. The business's quarterly revenue was up 11.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.70 earnings per share. Analysts predict that Edwards Lifesciences Corporation will post 2.45 EPS for the current year.

Insiders Place Their Bets

In other Edwards Lifesciences news, insider Larry L. Wood sold 8,950 shares of the company's stock in a transaction on Monday, June 16th. The shares were sold at an average price of $75.23, for a total transaction of $673,308.50. Following the sale, the insider directly owned 206,900 shares of the company's stock, valued at approximately $15,565,087. This represents a 4.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, 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 directly owned 50,356 shares in the company, valued at $3,897,554.40. The trade was a 4.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 34,962 shares of company stock valued at $2,641,387 over the last 90 days. 1.29% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on EW shares. Royal Bank Of Canada raised their target price on shares of Edwards Lifesciences from $85.00 to $89.00 and gave the stock an "outperform" rating in a research report on Friday, July 25th. JPMorgan Chase & Co. lifted their price target on shares of Edwards Lifesciences from $80.00 to $85.00 and gave the company a "neutral" rating in a report on Friday, July 25th. Dbs Bank upgraded shares of Edwards Lifesciences to a "hold" rating in a report on Monday, June 2nd. Stifel Nicolaus lifted their price target on shares of Edwards Lifesciences from $90.00 to $95.00 and gave the company a "buy" rating in a report on Friday, July 25th. Finally, Wall Street Zen upgraded shares of Edwards Lifesciences from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, fourteen have given a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $85.71.

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.