Manitou Investment Management Ltd. Has $9.68 Million Holdings in Edwards Lifesciences Co. (NYSE:EW)

Manitou Investment Management Ltd. grew its holdings in Edwards Lifesciences Co. (NYSE:EW) by 59,280.6% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 146,670 shares of the medical research company’s stock after purchasing an additional 146,423 shares during the period. Edwards Lifesciences comprises approximately 1.8% of Manitou Investment Management Ltd.’s investment portfolio, making the stock its 17th biggest holding. Manitou Investment Management Ltd.’s holdings in Edwards Lifesciences were worth $9,679,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC increased its holdings in Edwards Lifesciences by 4.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 330,711 shares of the medical research company’s stock worth $31,603,000 after buying an additional 14,087 shares during the last quarter. Kovack Advisors Inc. acquired a new position in Edwards Lifesciences during the first quarter worth $207,000. Diversify Advisory Services LLC acquired a new position in Edwards Lifesciences during the first quarter worth $2,810,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in Edwards Lifesciences by 1.8% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 219,093 shares of the medical research company’s stock worth $20,937,000 after buying an additional 3,927 shares during the last quarter. Finally, Peterson Wealth Services increased its holdings in Edwards Lifesciences by 14.3% during the first quarter. Peterson Wealth Services now owns 3,576 shares of the medical research company’s stock worth $342,000 after buying an additional 448 shares during the last quarter. 79.46% of the stock is currently owned by institutional investors and hedge funds.

Edwards Lifesciences Price Performance

NYSE:EW opened at $67.02 on Friday. The company has a quick ratio of 2.87, a current ratio of 3.71 and a debt-to-equity ratio of 0.08. The business’s 50-day simple moving average is $67.98 and its two-hundred day simple moving average is $77.85. The stock has a market cap of $40.37 billion, a PE ratio of 9.67, a P/E/G ratio of 3.86 and a beta of 1.13. Edwards Lifesciences Co. has a 52 week low of $58.93 and a 52 week high of $96.12.

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 the consensus estimate of $0.67. The firm had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.57 billion. Edwards Lifesciences had a return on equity of 22.56% and a net margin of 70.82%. The business’s revenue was up 8.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.59 earnings per share. As a group, analysts forecast that Edwards Lifesciences Co. will post 2.57 EPS for the current fiscal year.

Insider Buying and Selling at Edwards Lifesciences

In related news, VP Donald E. Bobo, Jr. sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $66.08, for a total value of $330,400.00. Following the completion of the sale, the vice president now owns 46,936 shares in the company, valued at approximately $3,101,530.88. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, VP Daveen Chopra sold 1,250 shares of the company’s stock in a transaction 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 transaction, the vice president now directly owns 29,333 shares of the company’s stock, valued at $2,051,843.35. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Donald E. Bobo, Jr. sold 5,000 shares of the company’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $66.08, for a total value of $330,400.00. Following the completion of the transaction, the vice president now directly owns 46,936 shares in the company, valued at approximately $3,101,530.88. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 16,250 shares of company stock worth $1,099,238 over the last 90 days. Company insiders own 1.29% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on EW shares. Stifel Nicolaus decreased their price objective on shares of Edwards Lifesciences from $85.00 to $70.00 and set a “hold” rating on the stock in a report on Thursday, July 25th. StockNews.com downgraded shares of Edwards Lifesciences from a “buy” rating to a “hold” rating in a report on Thursday, July 25th. The Goldman Sachs Group dropped their target price on shares of Edwards Lifesciences from $107.00 to $91.00 and set a “buy” rating for the company in a report on Friday, July 26th. Royal Bank of Canada lowered their price target on shares of Edwards Lifesciences from $85.00 to $75.00 and set an “outperform” rating for the company in a report on Tuesday, October 8th. Finally, Evercore ISI lowered their price target on shares of Edwards Lifesciences from $76.00 to $70.00 and set an “in-line” rating for the company in a report on Tuesday, October 1st. Seventeen investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $75.67.

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.