M&T Bank Corp Buys 2,678 Shares of Edwards Lifesciences Co. (NYSE:EW)

M&T Bank Corp increased its stake in Edwards Lifesciences Co. (NYSE:EW) by 6.8% during the 4th quarter, Holdings Channel reports. The firm owned 41,898 shares of the medical research company’s stock after purchasing an additional 2,678 shares during the quarter. M&T Bank Corp’s holdings in Edwards Lifesciences were worth $3,102,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of EW. FSA Wealth Management LLC bought a new position in Edwards Lifesciences during the third quarter valued at approximately $30,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in Edwards Lifesciences during the fourth quarter valued at approximately $30,000. Prospera Private Wealth LLC bought a new position in Edwards Lifesciences during the third quarter valued at approximately $32,000. Avior Wealth Management LLC grew its position in Edwards Lifesciences by 138.7% during the third quarter. Avior Wealth Management LLC now owns 530 shares of the medical research company’s stock valued at $35,000 after acquiring an additional 308 shares during the last quarter. Finally, Roble Belko & Company Inc bought a new position in Edwards Lifesciences during the fourth quarter valued at approximately $46,000. 79.46% of the stock is currently owned by institutional investors.

Insider Transactions at Edwards Lifesciences

In related news, VP Daniel J. Lippis sold 500 shares of Edwards Lifesciences stock in a transaction dated 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 in the company, valued at approximately $1,594,475.64. This trade represents a 2.11 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Scott B. Ullem sold 11,250 shares of Edwards Lifesciences stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $70.78, for a total value of $796,275.00. Following the completion of the sale, the chief financial officer now owns 30,387 shares of the company’s stock, valued at $2,150,791.86. The trade was a 27.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 37,739 shares of company stock valued at $2,799,104 in the last quarter. 1.29% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts have commented on EW shares. Piper Sandler increased their price target on shares of Edwards Lifesciences from $70.00 to $73.00 and gave the company a “neutral” rating in a research report on Wednesday, February 12th. Evercore ISI reduced their price target on shares of Edwards Lifesciences from $75.00 to $73.00 and set an “in-line” rating on the stock in a research report on Wednesday, February 12th. Stifel Nicolaus upgraded shares of Edwards Lifesciences from a “hold” rating to a “buy” rating and raised their target price for the stock from $75.00 to $90.00 in a report on Thursday, January 30th. Citigroup raised their target price on shares of Edwards Lifesciences from $81.00 to $83.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Finally, Bank of America upgraded shares of Edwards Lifesciences from a “neutral” rating to a “buy” rating and raised their target price for the stock from $82.00 to $90.00 in a report on Monday, December 16th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, Edwards Lifesciences currently has an average rating of “Hold” and a consensus target price of $79.95.

Edwards Lifesciences Stock Performance

Shares of Edwards Lifesciences stock opened at $70.36 on Friday. The company has a current ratio of 3.46, a quick ratio of 2.89 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $41.37 billion, a P/E ratio of 10.10, a P/E/G ratio of 4.82 and a beta of 1.12. The business has a fifty day simple moving average of $72.26 and a two-hundred day simple moving average of $70.38. Edwards Lifesciences Co. has a 12 month low of $58.93 and a 12 month high of $96.12.

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

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.