The Manufacturers Life Insurance Company Buys 3,299 Shares of Edwards Lifesciences Co. (NYSE:EW)

The Manufacturers Life Insurance Company increased its position in Edwards Lifesciences Co. (NYSE:EW) by 0.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,059,442 shares of the medical research company’s stock after purchasing an additional 3,299 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.34% of Edwards Lifesciences worth $190,233,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Crewe Advisors LLC bought a new position in shares of Edwards Lifesciences during the 1st quarter worth $28,000. First Community Trust NA purchased a new stake in Edwards Lifesciences in the second quarter worth about $29,000. Riverview Trust Co bought a new position in Edwards Lifesciences during the 1st quarter worth about $34,000. Webster Bank N. A. purchased a new position in Edwards Lifesciences during the 2nd quarter valued at about $39,000. Finally, Rise Advisors LLC increased its position in Edwards Lifesciences by 125.0% during the 1st quarter. Rise Advisors LLC now owns 477 shares of the medical research company’s stock valued at $46,000 after purchasing an additional 265 shares during the period. 79.46% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently weighed in on EW. Piper Sandler lowered their price target on shares of Edwards Lifesciences from $88.00 to $73.00 and set a “neutral” rating for the company in a research report on Thursday, July 25th. Robert W. Baird cut Edwards Lifesciences from an “outperform” rating to a “neutral” rating and dropped their target price for the company from $102.00 to $70.00 in a research report on Thursday, July 25th. Oppenheimer reiterated an “outperform” rating and issued a $90.00 price target on shares of Edwards Lifesciences in a report on Thursday, September 12th. Canaccord Genuity Group decreased their price objective on Edwards Lifesciences from $85.00 to $77.00 and set a “hold” rating for the company in a research note on Thursday, July 25th. Finally, Barclays cut their target price on Edwards Lifesciences from $90.00 to $80.00 and set an “overweight” rating on the stock in a research note on Monday, September 9th. Sixteen research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $79.82.

Edwards Lifesciences Stock Up 1.2 %

Edwards Lifesciences stock opened at $66.58 on Friday. The business’s 50-day simple moving average is $68.18 and its two-hundred day simple moving average is $82.19. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.87 and a current ratio of 3.71. The company has a market cap of $40.12 billion, a PE ratio of 28.70, a PEG ratio of 2.80 and a beta of 1.13. Edwards Lifesciences Co. has a fifty-two week low of $58.93 and a fifty-two week high of $96.12.

Edwards Lifesciences (NYSE:EW) last issued its earnings results on Wednesday, July 24th. The medical research company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.01. Edwards Lifesciences had a return on equity of 22.35% and a net margin of 24.55%. The firm had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.65 billion. During the same quarter in the prior year, the firm earned $0.66 earnings per share. Edwards Lifesciences’s revenue for the quarter was up 6.7% on a year-over-year basis. Equities analysts anticipate that Edwards Lifesciences Co. will post 2.71 EPS for the current year.

Insider Activity

In related news, VP Donald E. Bobo, Jr. sold 5,000 shares of the firm’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $66.08, for a total transaction of $330,400.00. Following the completion of the transaction, the vice president now owns 46,936 shares of the company’s stock, valued at $3,101,530.88. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Edwards Lifesciences news, VP Daveen Chopra sold 1,250 shares of the company’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $69.95, for a total value of $87,437.50. Following the sale, the vice president now owns 29,333 shares in the company, valued at approximately $2,051,843.35. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Donald E. Bobo, Jr. sold 5,000 shares of Edwards Lifesciences stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $66.08, for a total transaction of $330,400.00. Following the transaction, the vice president now directly owns 46,936 shares of the company’s stock, valued at $3,101,530.88. The disclosure for this sale can be found here. Insiders have sold 16,250 shares of company stock valued at $1,218,138 in the last ninety days. Insiders own 1.29% of the company’s stock.

Edwards Lifesciences 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.