Ontario Teachers Pension Plan Board Has $442,000 Position in Edwards Lifesciences Corporation (NYSE:EW)

Key Points

• The Ontario Teachers Pension Plan Board sold 13,535 shares of Edwards Lifesciences Corporation, reducing its stake by 69% and resulting in ownership of 6,094 shares valued at $442,000.
• Other institutional investors, including Jennison Associates and Marshall Wace, increased their holdings in the company significantly during the same period, indicating strong interest from hedge funds.
• Edwards Lifesciences reported a Q2 earnings per share of $0.67, exceeding analyst estimates, alongside a revenue of $1.53 billion, reflecting an 11.9% increase year-over-year.

Ontario Teachers Pension Plan Board cut its stake in shares of Edwards Lifesciences Corporation (NYSE:EW - Free Report) by 69.0% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 6,094 shares of the medical research company's stock after selling 13,535 shares during the period. Ontario Teachers Pension Plan Board's holdings in Edwards Lifesciences were worth $442,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Vega Investment Solutions purchased a new stake in Edwards Lifesciences during the 4th quarter worth $27,000. Global X Japan Co. Ltd. increased its stake in shares of Edwards Lifesciences by 116.1% in the first quarter. Global X Japan Co. Ltd. now owns 402 shares of the medical research company's stock valued at $29,000 after purchasing an additional 216 shares during the period. Tradewinds Capital Management LLC boosted its holdings in shares of Edwards Lifesciences by 102.5% in the first quarter. Tradewinds Capital Management LLC now owns 405 shares of the medical research company's stock valued at $29,000 after acquiring an additional 205 shares in the last quarter. Rossby Financial LCC acquired a new stake in shares of Edwards Lifesciences during the 1st quarter valued at $29,000. Finally, Costello Asset Management INC acquired a new position in Edwards Lifesciences in the 1st quarter worth approximately $29,000. 79.46% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Edwards Lifesciences

In other 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 value of $198,918.00. Following the transaction, the vice president directly owned 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Larry L. Wood sold 8,950 shares of the company's stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $75.23, for a total transaction of $673,308.50. Following the completion of the transaction, the insider owned 206,900 shares in the company, valued at $15,565,087. This trade represents a 4.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 17,134 shares of company stock valued at $1,311,745 over the last three months. Company insiders own 0.34% of the company's stock.

Edwards Lifesciences Stock Performance

NYSE EW traded down $0.12 on Monday, hitting $78.23. 2,884,745 shares of the stock were exchanged, compared to its average volume of 5,139,299. The company has a debt-to-equity ratio of 0.06, a current ratio of 4.68 and a quick ratio of 3.87. The business's fifty day moving average is $77.12 and its 200 day moving average is $74.24. Edwards Lifesciences Corporation has a 52 week low of $64.00 and a 52 week high of $83.00. The company has a market capitalization of $45.93 billion, a PE ratio of 11.26, a P/E/G ratio of 3.78 and a beta of 1.08.

Edwards Lifesciences (NYSE:EW - Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The medical research company reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.05. Edwards Lifesciences had a net margin of 72.96% and a return on equity of 15.01%. The firm had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.49 billion. During the same period in the prior year, the firm posted $0.70 earnings per share. The company's quarterly revenue was up 11.9% compared to the same quarter last year. Research analysts anticipate that Edwards Lifesciences Corporation will post 2.45 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Royal Bank Of Canada increased 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. The Goldman Sachs Group reiterated a "buy" rating on shares of Edwards Lifesciences in a report on Friday, July 25th. Stifel Nicolaus lifted their target price on shares of Edwards Lifesciences from $90.00 to $95.00 and gave the company a "buy" rating in a research report on Friday, July 25th. Daiwa America upgraded shares of Edwards Lifesciences from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 29th. Finally, Citigroup reaffirmed a "buy" rating and issued a $95.00 target price (up from $84.00) on shares of Edwards Lifesciences in a research note on Thursday, May 22nd. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, thirteen have assigned a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $85.90.

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.