Investment Management Corp of Ontario Grows Position in Edwards Lifesciences Co. (NYSE:EW)

Investment Management Corp of Ontario lifted its position in shares of Edwards Lifesciences Co. (NYSE:EW - Free Report) by 69.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 33,688 shares of the medical research company's stock after buying an additional 13,755 shares during the quarter. Investment Management Corp of Ontario's holdings in Edwards Lifesciences were worth $2,494,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in EW. Crowley Wealth Management Inc. purchased a new stake in Edwards Lifesciences in the fourth quarter valued at about $26,000. Millstone Evans Group LLC acquired a new position in shares of Edwards Lifesciences in the 4th quarter valued at $29,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Edwards Lifesciences in the 4th quarter valued at $30,000. Roble Belko & Company Inc purchased a new stake in shares of Edwards Lifesciences in the fourth quarter valued at approximately $46,000. Finally, Catalyst Capital Advisors LLC purchased a new stake in shares of Edwards Lifesciences in the fourth quarter valued at approximately $54,000. Institutional investors own 79.46% of the company's stock.

Wall Street Analyst Weigh In

EW has been the topic of a number of research analyst reports. StockNews.com raised Edwards Lifesciences from a "hold" rating to a "buy" rating in a research note on Thursday, May 8th. Truist Financial lowered their price objective on Edwards Lifesciences from $78.00 to $75.00 and set a "hold" rating on the stock in a research note on Friday, April 11th. Canaccord Genuity Group boosted their price objective on Edwards Lifesciences from $71.00 to $75.00 and gave the stock a "hold" rating in a research note on Friday, April 25th. Evercore ISI lowered their price objective on Edwards Lifesciences from $75.00 to $73.00 and set an "in-line" rating on the stock in a research note on Wednesday, February 12th. Finally, Piper Sandler boosted their price objective on Edwards Lifesciences from $80.00 to $83.00 and gave the stock an "overweight" rating in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $79.60.

Edwards Lifesciences Trading Up 0.1%

Edwards Lifesciences stock traded up $0.04 during midday trading on Thursday, reaching $76.79. 4,508,636 shares of the stock traded hands, compared to its average volume of 5,070,721. The company has a 50-day simple moving average of $71.73 and a two-hundred day simple moving average of $71.62. Edwards Lifesciences Co. has a 12-month low of $58.93 and a 12-month high of $95.25. The firm has a market cap of $45.05 billion, a PE ratio of 11.02, a price-to-earnings-growth ratio of 4.82 and a beta of 1.12. 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 issued its quarterly earnings results on Wednesday, April 23rd. The medical research company reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.04. Edwards Lifesciences had a return on equity of 19.40% and a net margin of 72.93%. The company had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.40 billion. During the same quarter in the prior year, the business earned $0.66 EPS. Edwards Lifesciences's revenue was up 6.2% on a year-over-year basis. Research analysts expect that Edwards Lifesciences Co. will post 2.45 earnings per share for the current fiscal year.

Insider Activity at Edwards Lifesciences

In related news, VP Donald E. Bobo, Jr. sold 9,500 shares of the stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $67.96, for a total value of $645,620.00. Following the transaction, the vice president now directly owns 46,936 shares of the company's stock, valued at $3,189,770.56. This trade represents a 16.83% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Steven R. Loranger sold 5,739 shares of the stock in a transaction on Friday, February 14th. The shares were sold at an average price of $76.42, for a total transaction of $438,574.38. Following the completion of the transaction, the director now directly owns 60,372 shares in the company, valued at $4,613,628.24. This trade represents a 8.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 71,931 shares of company stock valued at $5,148,028 over the last quarter. 1.29% of the stock is owned by insiders.

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.