CIBC Private Wealth Group LLC Sells 2,302,841 Shares of Edwards Lifesciences Co. (NYSE:EW)

CIBC Private Wealth Group LLC lessened its holdings in Edwards Lifesciences Co. (NYSE:EW) by 91.1% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 226,172 shares of the medical research company’s stock after selling 2,302,841 shares during the period. CIBC Private Wealth Group LLC’s holdings in Edwards Lifesciences were worth $16,771,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Schroder Investment Management Group bought a new position in Edwards Lifesciences in the fourth quarter worth approximately $7,176,000. Allianz SE purchased a new stake in shares of Edwards Lifesciences in the 4th quarter worth $339,000. Allstate Corp bought a new position in Edwards Lifesciences in the 4th quarter worth $1,316,000. Brown Brothers Harriman & Co. lifted its position in Edwards Lifesciences by 17.6% during the fourth quarter. Brown Brothers Harriman & Co. now owns 1,183 shares of the medical research company’s stock valued at $88,000 after purchasing an additional 177 shares in the last quarter. Finally, DnB Asset Management AS grew its holdings in Edwards Lifesciences by 3.6% during the fourth quarter. DnB Asset Management AS now owns 327,924 shares of the medical research company’s stock valued at $24,276,000 after purchasing an additional 11,348 shares during the period. Hedge funds and other institutional investors own 79.46% of the company’s stock.

Edwards Lifesciences Stock Performance

EW stock opened at $72.56 on Tuesday. Edwards Lifesciences Co. has a 1-year low of $58.93 and a 1-year high of $95.73. The business has a 50-day moving average price of $71.55 and a 200 day moving average price of $70.56. The company has a market capitalization of $42.66 billion, a P/E ratio of 10.41, a PEG ratio of 4.82 and a beta of 1.12. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.46 and a quick ratio of 2.89.

Edwards Lifesciences (NYSE:EW) last announced its quarterly earnings results on Tuesday, February 11th. The medical research company reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.04. Edwards Lifesciences had a net margin of 72.93% and a return on equity of 19.40%. As a group, equities research analysts forecast that Edwards Lifesciences Co. will post 2.45 EPS for the current fiscal year.

Insider Buying and Selling at Edwards Lifesciences

In other news, VP Donald E. Bobo, Jr. sold 6,500 shares of the company’s stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $75.75, for a total transaction of $492,375.00. Following the transaction, the vice president now directly owns 46,936 shares of the company’s stock, valued at approximately $3,555,402. This represents a 12.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Daniel J. Lippis sold 500 shares of the firm’s stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $68.76, for a total value of $34,380.00. Following the completion of the sale, the vice president now directly owns 23,189 shares of the company’s stock, valued at $1,594,475.64. The trade was a 2.11 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 62,553 shares of company stock valued at $4,513,064. 1.29% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on EW. Barclays raised their price objective on Edwards Lifesciences from $88.00 to $90.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Wolfe Research lowered shares of Edwards Lifesciences from a “hold” rating to a “strong sell” rating in a research report on Wednesday, February 12th. The Goldman Sachs Group raised their price objective on shares of Edwards Lifesciences from $81.00 to $90.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. Canaccord Genuity Group increased their price target on Edwards Lifesciences from $68.00 to $71.00 and gave the stock a “hold” rating in a research note on Thursday, February 13th. Finally, Truist Financial reissued a “hold” rating and set a $78.00 price target (up from $70.00) on shares of Edwards Lifesciences in a report on Thursday, December 5th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $79.95.

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.