Edwards Lifesciences Co. (NYSE:EW) Shares Sold by Bank of Montreal Can

Bank of Montreal Can decreased its position in shares of Edwards Lifesciences Co. (NYSE:EW) by 3.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,180,984 shares of the medical research company’s stock after selling 46,215 shares during the quarter. Bank of Montreal Can owned approximately 0.20% of Edwards Lifesciences worth $78,630,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cetera Advisors LLC grew its holdings in shares of Edwards Lifesciences by 175.1% during the 1st quarter. Cetera Advisors LLC now owns 38,090 shares of the medical research company’s stock worth $3,640,000 after purchasing an additional 24,242 shares during the period. BDF Gestion acquired a new stake in shares of Edwards Lifesciences during the second quarter valued at about $5,148,000. Tidal Investments LLC increased its position in shares of Edwards Lifesciences by 54.7% during the first quarter. Tidal Investments LLC now owns 30,245 shares of the medical research company’s stock valued at $2,890,000 after acquiring an additional 10,700 shares during the last quarter. Raymond James & Associates lifted its holdings in shares of Edwards Lifesciences by 2.8% in the 2nd quarter. Raymond James & Associates now owns 1,825,230 shares of the medical research company’s stock worth $168,597,000 after acquiring an additional 50,124 shares during the last quarter. Finally, AIA Group Ltd boosted its position in shares of Edwards Lifesciences by 91.7% during the 3rd quarter. AIA Group Ltd now owns 749,524 shares of the medical research company’s stock worth $49,461,000 after purchasing an additional 358,556 shares during the period. 79.46% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Edwards Lifesciences

In related news, insider Larry L. Wood sold 25,000 shares of the stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $65.91, for a total transaction of $1,647,750.00. Following the completion of the transaction, the insider now directly owns 198,526 shares of the company’s stock, valued at $13,084,848.66. This represents a 11.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Donald E. Bobo, Jr. sold 5,000 shares of Edwards Lifesciences stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $66.77, for a total value of $333,850.00. Following the completion of the sale, the vice president now directly owns 46,936 shares in the company, valued at $3,133,916.72. This represents a 9.63 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 40,000 shares of company stock worth $2,657,000 over the last 90 days. 1.29% of the stock is currently owned by insiders.

Edwards Lifesciences Stock Performance

Shares of EW opened at $71.56 on Wednesday. The company’s 50 day simple moving average is $67.83 and its 200-day simple moving average is $75.37. Edwards Lifesciences Co. has a 12-month low of $58.93 and a 12-month high of $96.12. The firm has a market cap of $42.20 billion, a PE ratio of 10.33, a price-to-earnings-growth ratio of 3.96 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) last announced its earnings results on Thursday, October 24th. The medical research company reported $0.67 EPS for the quarter, meeting analysts’ consensus estimates of $0.67. Edwards Lifesciences had a net margin of 70.82% and a return on equity of 20.76%. The business had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.57 billion. The business’s revenue was up 8.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.59 earnings per share. As a group, equities analysts predict that Edwards Lifesciences Co. will post 2.57 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. UBS Group cut their target price on Edwards Lifesciences from $90.00 to $75.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 10th. Citigroup lowered their target price on Edwards Lifesciences from $83.00 to $77.00 and set a “buy” rating for the company in a report on Tuesday, October 1st. Sanford C. Bernstein upgraded shares of Edwards Lifesciences from a “strong sell” rating to a “hold” rating in a research note on Monday, October 28th. Canaccord Genuity Group dropped their price objective on shares of Edwards Lifesciences from $66.00 to $63.00 and set a “hold” rating for the company in a report on Friday, October 25th. Finally, Piper Sandler reduced their target price on shares of Edwards Lifesciences from $73.00 to $70.00 and set a “neutral” rating on the stock in a report on Friday, October 25th. Seventeen equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $75.67.

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.