Connor Clark & Lunn Investment Management Ltd. Purchases 51,896 Shares of Edwards Lifesciences Co. (NYSE:EW)

Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Edwards Lifesciences Co. (NYSE:EW) by 32.1% during the 3rd quarter, HoldingsChannel reports. The firm owned 213,700 shares of the medical research company’s stock after acquiring an additional 51,896 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Edwards Lifesciences were worth $14,102,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cetera Advisors LLC raised its holdings in Edwards Lifesciences by 175.1% in the first quarter. Cetera Advisors LLC now owns 38,090 shares of the medical research company’s stock worth $3,640,000 after buying an additional 24,242 shares during the last quarter. BDF Gestion bought a new position in Edwards Lifesciences in the 2nd quarter valued at approximately $5,148,000. Tidal Investments LLC boosted its stake in Edwards Lifesciences by 54.7% during the 1st quarter. Tidal Investments LLC now owns 30,245 shares of the medical research company’s stock valued at $2,890,000 after purchasing an additional 10,700 shares during the last quarter. Raymond James & Associates increased 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 purchasing an additional 50,124 shares in the last quarter. Finally, AIA Group Ltd raised its stake in shares of Edwards Lifesciences by 91.7% in the third 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 last quarter. 79.46% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have issued reports on EW shares. JPMorgan Chase & Co. upped their target price on shares of Edwards Lifesciences from $72.00 to $78.00 and gave the company a “neutral” rating in a research note on Friday, October 25th. UBS Group dropped their target price on shares of Edwards Lifesciences from $90.00 to $75.00 and set a “neutral” rating on the stock in a report on Tuesday, September 10th. Daiwa Capital Markets upgraded shares of Edwards Lifesciences from a “neutral” rating to an “outperform” rating in a research note on Wednesday, July 31st. Stifel Nicolaus dropped their price target on Edwards Lifesciences from $85.00 to $70.00 and set a “hold” rating on the stock in a research note on Thursday, July 25th. Finally, Oppenheimer reiterated an “outperform” rating and set a $90.00 price objective on shares of Edwards Lifesciences in a research report on Thursday, September 12th. Seventeen research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, Edwards Lifesciences currently has an average rating of “Hold” and a consensus price target of $75.67.

Edwards Lifesciences Price Performance

Shares of EW stock opened at $70.56 on Friday. The company’s 50-day simple moving average is $67.66 and its two-hundred day simple moving average is $75.83. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.46 and a quick ratio of 2.89. Edwards Lifesciences Co. has a one year low of $58.93 and a one year high of $96.12. The company has a market capitalization of $41.61 billion, a P/E ratio of 10.18, a P/E/G ratio of 3.95 and a beta of 1.12.

Edwards Lifesciences (NYSE:EW) last released its quarterly earnings data on Thursday, October 24th. The medical research company reported $0.67 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.67. Edwards Lifesciences had a net margin of 70.82% and a return on equity of 20.76%. The company had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.57 billion. During the same period in the prior year, the firm earned $0.59 earnings per share. The firm’s revenue for the quarter was up 8.9% compared to the same quarter last year. As a group, equities analysts anticipate that Edwards Lifesciences Co. will post 2.57 EPS for the current year.

Insider Buying and Selling at Edwards Lifesciences

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

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.