Mackenzie Financial Corp Has $5.10 Million Stake in Edwards Lifesciences Corporation (NYSE:EW)

Key Points

• Mackenzie Financial Corp has reduced its stake in Edwards Lifesciences Corporation by 45.8%, now holding 70,317 shares valued at approximately $5.10 million.
• Edwards Lifesciences reported a quarterly earnings per share (EPS) of $0.67, exceeding analysts' expectations of $0.62, with revenues reaching $1.53 billion.
• Institutional investors collectively own 79.46% of Edwards Lifesciences, indicating significant confidence from large investment firms in the company's future performance.

Mackenzie Financial Corp decreased its position in Edwards Lifesciences Corporation (NYSE:EW - Free Report) by 45.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 70,317 shares of the medical research company's stock after selling 59,528 shares during the period. Mackenzie Financial Corp's holdings in Edwards Lifesciences were worth $5,097,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Prosperity Consulting Group LLC increased its position in shares of Edwards Lifesciences by 3.6% during the fourth quarter. Prosperity Consulting Group LLC now owns 3,906 shares of the medical research company's stock worth $289,000 after acquiring an additional 134 shares in the last quarter. Arlington Trust Co LLC increased its position in shares of Edwards Lifesciences by 1.2% during the first quarter. Arlington Trust Co LLC now owns 11,092 shares of the medical research company's stock worth $804,000 after acquiring an additional 135 shares in the last quarter. Valeo Financial Advisors LLC increased its position in shares of Edwards Lifesciences by 2.8% during the first quarter. Valeo Financial Advisors LLC now owns 5,136 shares of the medical research company's stock worth $372,000 after acquiring an additional 142 shares in the last quarter. Versant Capital Management Inc increased its position in shares of Edwards Lifesciences by 9.3% during the first quarter. Versant Capital Management Inc now owns 1,698 shares of the medical research company's stock worth $123,000 after acquiring an additional 145 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its position in shares of Edwards Lifesciences by 0.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 30,195 shares of the medical research company's stock worth $2,170,000 after acquiring an additional 145 shares in the last quarter. Institutional investors and hedge funds own 79.46% of the company's stock.

Edwards Lifesciences Stock Performance

Shares of EW stock opened at $79.30 on Friday. The stock has a market capitalization of $46.52 billion, a P/E ratio of 11.41, a PEG ratio of 3.84 and a beta of 1.08. The company has a current ratio of 4.45, a quick ratio of 3.66 and a debt-to-equity ratio of 0.06. The firm's 50 day moving average is $76.91 and its 200 day moving average is $73.80. Edwards Lifesciences Corporation has a 12 month low of $59.41 and a 12 month high of $83.00.

Edwards Lifesciences (NYSE:EW - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The medical research company reported $0.67 EPS for the quarter, beating analysts' consensus estimates of $0.62 by $0.05. The company had revenue of $1.53 billion for 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%. Edwards Lifesciences's revenue was up 11.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.70 EPS. On average, sell-side analysts anticipate that Edwards Lifesciences Corporation will post 2.45 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on EW shares. Daiwa America raised shares of Edwards Lifesciences from a "hold" rating to a "strong-buy" rating in a research report on Tuesday. Citigroup reaffirmed a "buy" rating and issued a $95.00 price objective (up from $84.00) on shares of Edwards Lifesciences in a research report on Thursday, May 22nd. JPMorgan Chase & Co. upped their price objective on shares of Edwards Lifesciences from $80.00 to $85.00 and gave the stock a "neutral" rating in a research report on Friday, July 25th. Mizuho upped their price objective on shares of Edwards Lifesciences from $87.00 to $95.00 and gave the stock an "outperform" rating in a research report on Friday, July 25th. Finally, The Goldman Sachs Group reaffirmed a "buy" rating on shares of Edwards Lifesciences in a research report on Friday, July 25th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, thirteen have given a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, Edwards Lifesciences has an average rating of "Moderate Buy" and an average price target of $85.71.

Insider Activity at Edwards Lifesciences

In related news, insider Larry L. Wood sold 8,950 shares of the company's stock in a transaction that occurred 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 owned 206,900 shares of the company's stock, valued at approximately $15,565,087. This represents a 4.15% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Daveen Chopra sold 1,500 shares of the company's stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $75.08, for a total transaction of $112,620.00. Following the sale, the vice president directly owned 33,496 shares in the company, valued at $2,514,879.68. This trade represents a 4.29% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 34,962 shares of company stock worth $2,641,387 in the last ninety days. Insiders own 1.29% of the company's stock.

About Edwards Lifesciences

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.

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