Connor Clark & Lunn Investment Management Ltd. Raises Stock Position in Edwards Lifesciences Co. (NYSE:EW)

Connor Clark & Lunn Investment Management Ltd. raised its holdings in Edwards Lifesciences Co. (NYSE:EW) by 77.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 380,103 shares of the medical research company’s stock after purchasing an additional 166,403 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 0.06% of Edwards Lifesciences worth $28,139,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Edwards Lifesciences in the 4th quarter valued at about $30,000. FSA Wealth Management LLC purchased a new position in Edwards Lifesciences during the third quarter valued at approximately $30,000. Prospera Private Wealth LLC acquired a new position in Edwards Lifesciences in the third quarter valued at approximately $32,000. Avior Wealth Management LLC increased its holdings in Edwards Lifesciences by 138.7% in the third quarter. Avior Wealth Management LLC now owns 530 shares of the medical research company’s stock valued at $35,000 after buying an additional 308 shares in the last quarter. Finally, Roble Belko & Company Inc acquired a new position in shares of Edwards Lifesciences in the fourth quarter worth about $46,000. 79.46% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Edwards Lifesciences

In related news, CEO Bernard J. Zovighian sold 6,164 shares of Edwards Lifesciences stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $69.51, for a total value of $428,459.64. Following the completion of the transaction, the chief executive officer now owns 59,083 shares in the company, valued at approximately $4,106,859.33. The trade was a 9.45 % 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 2,500 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $74.08, for a total transaction of $185,200.00. Following the sale, the vice president now owns 23,189 shares in the company, valued at approximately $1,717,841.12. This trade represents a 9.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 44,303 shares of company stock valued at $3,255,356 over the last quarter. 1.29% of the stock is owned by company insiders.

Edwards Lifesciences Stock Up 0.2 %

Shares of NYSE:EW opened at $68.52 on Thursday. The business has a 50-day moving average price of $71.92 and a 200 day moving average price of $70.34. Edwards Lifesciences Co. has a 12-month low of $58.93 and a 12-month high of $96.12. The company has a current ratio of 3.46, a quick ratio of 2.89 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $40.28 billion, a price-to-earnings ratio of 9.83, a PEG ratio of 4.82 and a beta of 1.12.

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, beating analysts’ consensus estimates of $0.55 by $0.04. Edwards Lifesciences had a net margin of 72.93% and a return on equity of 19.40%. Sell-side analysts expect that Edwards Lifesciences Co. will post 2.45 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently commented on EW shares. Royal Bank of Canada restated an “outperform” rating and set a $85.00 target price on shares of Edwards Lifesciences in a research report on Wednesday, February 12th. Canaccord Genuity Group raised their price objective on Edwards Lifesciences from $68.00 to $71.00 and gave the company a “hold” rating in a report on Thursday, February 13th. Piper Sandler upped their target price on Edwards Lifesciences from $70.00 to $73.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 12th. Evercore ISI dropped 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 note on Wednesday, February 12th. Finally, Stifel Nicolaus raised shares of Edwards Lifesciences from a “hold” rating to a “buy” rating and raised their price target for the stock from $75.00 to $90.00 in a research note on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, Edwards Lifesciences has an average rating of “Hold” and a consensus price target of $79.95.

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.