The Manufacturers Life Insurance Company Has $124.57 Million Position in Edwards Lifesciences Co. (NYSE:EW)

The Manufacturers Life Insurance Company lowered its holdings in shares of Edwards Lifesciences Co. (NYSE:EW) by 8.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,887,644 shares of the medical research company’s stock after selling 171,798 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Edwards Lifesciences were worth $124,567,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Qsemble Capital Management LP bought a new position in shares of Edwards Lifesciences during the 3rd quarter worth approximately $4,176,000. Private Trust Co. NA increased its holdings in shares of Edwards Lifesciences by 8.6% during the 3rd quarter. Private Trust Co. NA now owns 2,931 shares of the medical research company’s stock worth $193,000 after acquiring an additional 233 shares during the last quarter. Mirabella Financial Services LLP acquired a new position in shares of Edwards Lifesciences during the 3rd quarter worth approximately $5,929,000. Truvestments Capital LLC acquired a new position in shares of Edwards Lifesciences during the 3rd quarter worth approximately $109,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of Edwards Lifesciences during the 3rd quarter worth approximately $825,000. Institutional investors and hedge funds own 79.46% of the company’s stock.

Insiders Place Their Bets

In other news, insider Larry L. Wood sold 25,000 shares of the 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 represents a 11.18 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Donald E. Bobo, Jr. sold 5,000 shares of the stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $65.57, for a total value of $327,850.00. Following the completion of the sale, the vice president now directly owns 46,936 shares of the company’s stock, valued at approximately $3,077,593.52. The trade was a 9.63 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 40,000 shares of company stock valued at $2,657,000 in the last 90 days. Corporate insiders own 1.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on EW. Daiwa Capital Markets raised Edwards Lifesciences from a “neutral” rating to an “outperform” rating in a report on Wednesday, July 31st. Sanford C. Bernstein raised Edwards Lifesciences from a “strong sell” rating to a “hold” rating in a report on Monday, October 28th. Royal Bank of Canada decreased their price objective on Edwards Lifesciences from $85.00 to $75.00 and set an “outperform” rating on the stock in a report on Tuesday, October 8th. UBS Group decreased their price objective on Edwards Lifesciences from $90.00 to $75.00 and set a “neutral” rating on the stock in a report on Tuesday, September 10th. Finally, Robert W. Baird decreased their price objective on Edwards Lifesciences from $73.00 to $68.00 and set a “neutral” rating on the stock in a report on Friday, October 25th. Seventeen investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $75.67.

Edwards Lifesciences Price Performance

Shares of EW opened at $71.56 on Wednesday. Edwards Lifesciences Co. has a 12-month low of $58.93 and a 12-month high of $96.12. The business has a 50-day simple moving average of $67.83 and a two-hundred day simple moving average of $75.37. The company has a quick ratio of 2.89, a current ratio of 3.46 and a debt-to-equity ratio of 0.06. The stock has a market cap of $42.20 billion, a PE ratio of 10.33, a PEG ratio of 3.96 and a beta of 1.12.

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

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.