CIBC Asset Management Inc reduced its position in Edwards Lifesciences Corp (NYSE:EW) by 0.8% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 33,298 shares of the medical research company’s stock after selling 273 shares during the quarter. CIBC Asset Management Inc’s holdings in Edwards Lifesciences were worth $6,371,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. BlackRock Inc. increased its stake in Edwards Lifesciences by 7.4% in the 4th quarter. BlackRock Inc. now owns 16,431,419 shares of the medical research company’s stock valued at $2,516,802,000 after buying an additional 1,128,082 shares during the period. Oregon Public Employees Retirement Fund grew its stake in shares of Edwards Lifesciences by 21,360.5% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 10,636,891 shares of the medical research company’s stock worth $69,000 after purchasing an additional 10,587,326 shares during the period. FMR LLC grew its stake in shares of Edwards Lifesciences by 28.9% during the 4th quarter. FMR LLC now owns 7,576,820 shares of the medical research company’s stock worth $1,160,540,000 after purchasing an additional 1,700,199 shares during the period. Jennison Associates LLC grew its stake in shares of Edwards Lifesciences by 184.7% during the 4th quarter. Jennison Associates LLC now owns 4,112,133 shares of the medical research company’s stock worth $629,855,000 after purchasing an additional 2,667,749 shares during the period. Finally, Norges Bank acquired a new position in shares of Edwards Lifesciences during the 4th quarter worth $559,646,000. 84.43% of the stock is currently owned by institutional investors.
A number of equities analysts have recently weighed in on the stock. BMO Capital Markets upped their price target on shares of Edwards Lifesciences to $204.00 and gave the stock an “outperform” rating in a research note on Friday, March 22nd. JPMorgan Chase & Co. upped their price target on shares of Edwards Lifesciences from $175.00 to $190.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 27th. They noted that the move was a valuation call. Credit Suisse Group upped their price target on shares of Edwards Lifesciences from $189.00 to $221.00 and gave the stock an “outperform” rating in a research note on Monday, April 15th. Jefferies Financial Group upped their price target on shares of Edwards Lifesciences from $195.00 to $210.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Finally, Stifel Nicolaus upped their price target on shares of Edwards Lifesciences from $190.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and fourteen have given a buy rating to the company’s stock. Edwards Lifesciences presently has an average rating of “Buy” and an average price target of $187.00.
Edwards Lifesciences (NYSE:EW) last released its quarterly earnings data on Tuesday, April 23rd. The medical research company reported $1.32 EPS for the quarter, topping the consensus estimate of $1.23 by $0.09. The business had revenue of $993.00 million for the quarter, compared to analyst estimates of $989.87 million. Edwards Lifesciences had a net margin of 20.03% and a return on equity of 31.16%. The business’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.22 EPS. Analysts forecast that Edwards Lifesciences Corp will post 5.28 EPS for the current fiscal year.
In other Edwards Lifesciences news, VP Larry L. Wood sold 6,716 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $192.34, for a total value of $1,291,755.44. Following the transaction, the vice president now directly owns 122,495 shares in the company, valued at approximately $23,560,688.30. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Michael A. Mussallem sold 32,800 shares of the company’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $178.99, for a total transaction of $5,870,872.00. Following the completion of the transaction, the chief executive officer now owns 84,601 shares in the company, valued at $15,142,732.99. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 146,937 shares of company stock worth $25,927,332. 1.63% of the stock is owned by insiders.
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Edwards Lifesciences Profile
Edwards Lifesciences Corporation provides products and technologies for structural heart disease and critical care monitoring in the United States and internationally. It offers transcatheter heart valve therapy products comprising transcatheter aortic valve replacement, and transcatheter mitral and tricuspid therapies for the nonsurgical replacement of heart valves.
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