Caisse DE Depot ET Placement DU Quebec Boosts Stake in Edwards Lifesciences Co. (NYSE:EW)

Caisse DE Depot ET Placement DU Quebec raised its position in Edwards Lifesciences Co. (NYSE:EW) by 56.7% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 82,974 shares of the medical research company’s stock after purchasing an additional 30,038 shares during the quarter. Caisse DE Depot ET Placement DU Quebec’s holdings in Edwards Lifesciences were worth $5,475,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of EW. First Community Trust NA purchased a new stake in Edwards Lifesciences during the 2nd quarter worth $29,000. Webster Bank N. A. acquired a new stake in shares of Edwards Lifesciences in the second quarter valued at about $39,000. Prospera Private Wealth LLC purchased a new stake in shares of Edwards Lifesciences during the 3rd quarter valued at about $32,000. Avior Wealth Management LLC lifted its position in Edwards Lifesciences by 138.7% during the 3rd quarter. Avior Wealth Management LLC now owns 530 shares of the medical research company’s stock worth $35,000 after acquiring an additional 308 shares in the last quarter. Finally, HHM Wealth Advisors LLC purchased a new position in Edwards Lifesciences in the 2nd quarter worth approximately $55,000. 79.46% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on EW shares. Citigroup dropped their price objective on shares of Edwards Lifesciences from $83.00 to $77.00 and set a “buy” rating on the stock in a research note on Tuesday, October 1st. Piper Sandler dropped their price target on shares of Edwards Lifesciences from $73.00 to $70.00 and set a “neutral” rating on the stock in a research note on Friday, October 25th. Truist Financial cut their price objective on shares of Edwards Lifesciences from $71.00 to $70.00 and set a “hold” rating on the stock in a report on Friday, October 25th. Royal Bank of Canada raised their target price on Edwards Lifesciences from $75.00 to $80.00 and gave the company an “outperform” rating in a research note on Wednesday, November 27th. Finally, Jefferies Financial Group cut Edwards Lifesciences from a “buy” rating to a “hold” rating and cut their price target for the stock from $85.00 to $70.00 in a research note on Wednesday, September 18th. Seventeen investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $77.25.

Edwards Lifesciences Price Performance

EW opened at $70.53 on Tuesday. The company has a quick ratio of 2.89, a current ratio of 3.46 and a debt-to-equity ratio of 0.06. The company’s 50-day moving average price is $68.10 and its 200 day moving average price is $75.05. Edwards Lifesciences Co. has a fifty-two week low of $58.93 and a fifty-two week high of $96.12. The firm has a market cap of $41.60 billion, a price-to-earnings ratio of 10.18, a price-to-earnings-growth ratio of 4.01 and a beta of 1.12.

Edwards Lifesciences (NYSE:EW) last announced its quarterly earnings results on Thursday, October 24th. The medical research company reported $0.67 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.67. Edwards Lifesciences had a return on equity of 20.76% and a net margin of 70.82%. The business had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.57 billion. During the same period in the prior year, the firm earned $0.59 EPS. The business’s quarterly revenue was up 8.9% on a year-over-year basis. As a group, sell-side analysts expect that Edwards Lifesciences Co. will post 2.57 earnings per share for the current year.

Insider Buying and Selling at Edwards Lifesciences

In related news, VP Donald E. Bobo, Jr. sold 5,000 shares of the stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $65.57, for a total value of $327,850.00. Following the completion of the transaction, the vice president now directly owns 46,936 shares of the company’s stock, valued at $3,077,593.52. This represents a 9.63 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Larry L. Wood sold 25,000 shares of Edwards Lifesciences stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $65.91, for a total value of $1,647,750.00. Following the sale, the insider now directly owns 198,526 shares in the company, valued at $13,084,848.66. The trade was a 11.18 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 40,000 shares of company stock worth $2,657,000. 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.