Mackenzie Financial Corp Buys 23,729 Shares of Edwards Lifesciences Co. (NYSE:EW)

Mackenzie Financial Corp lifted its stake in shares of Edwards Lifesciences Co. (NYSE:EW) by 22.4% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 129,845 shares of the medical research company’s stock after acquiring an additional 23,729 shares during the period. Mackenzie Financial Corp’s holdings in Edwards Lifesciences were worth $9,612,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Crowley Wealth Management Inc. bought a new stake in shares of Edwards Lifesciences during the 4th quarter worth $26,000. Vega Investment Solutions bought a new stake in shares of Edwards Lifesciences during the 4th quarter worth $27,000. Millstone Evans Group LLC purchased a new position in Edwards Lifesciences in the 4th quarter worth $29,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Edwards Lifesciences in the 4th quarter worth $30,000. Finally, Catalyst Capital Advisors LLC purchased a new position in Edwards Lifesciences in the 4th quarter worth $54,000. 79.46% of the stock is owned by institutional investors.

Insider Activity at Edwards Lifesciences

In related news, CFO Scott B. Ullem sold 11,250 shares of the business’s stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $70.78, for a total transaction of $796,275.00. Following 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Bernard J. Zovighian sold 6,164 shares of the business’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $69.51, for a total transaction of $428,459.64. Following the sale, the chief executive officer now directly owns 59,083 shares in the company, valued at $4,106,859.33. The trade was a 9.45% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 67,692 shares of company stock worth $4,822,074 over the last 90 days. 0.34% of the stock is owned by company insiders.

Edwards Lifesciences Price Performance

Shares of NYSE EW opened at $76.10 on Wednesday. Edwards Lifesciences Co. has a 1 year low of $58.93 and a 1 year high of $95.25. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.46 and a quick ratio of 2.89. The company’s 50-day moving average is $72.97 and its 200 day moving average is $72.22. The stock has a market capitalization of $44.64 billion, a P/E ratio of 10.92, a P/E/G ratio of 4.82 and a beta of 1.12.

Edwards Lifesciences (NYSE:EW) last announced its quarterly earnings results on Wednesday, April 23rd. The medical research company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.04. Edwards Lifesciences had a net margin of 72.93% and a return on equity of 19.40%. The company had revenue of $1.41 billion for the quarter, compared to analysts’ expectations of $1.40 billion. During the same quarter in the previous year, the company earned $0.66 earnings per share. Edwards Lifesciences’s quarterly revenue was up 6.2% on a year-over-year basis. On average, sell-side analysts expect that Edwards Lifesciences Co. will post 2.45 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts recently commented on EW shares. Citigroup reiterated a “buy” rating and issued a $95.00 target price (up previously from $84.00) on shares of Edwards Lifesciences in a research report on Thursday, May 22nd. Morgan Stanley lifted their target price on shares of Edwards Lifesciences from $70.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 12th. Barclays lifted their target price on shares of Edwards Lifesciences from $88.00 to $90.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Wall Street Zen cut shares of Edwards Lifesciences from a “buy” rating to a “hold” rating in a research report on Friday, May 16th. Finally, Evercore ISI decreased their target price 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. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $80.20.

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.