Manitou Investment Management Ltd. Has $13.29 Million Stock Holdings in Edwards Lifesciences Co. (NYSE:EW)

Manitou Investment Management Ltd. lifted its position in Edwards Lifesciences Co. (NYSE:EW) by 22.4% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 179,451 shares of the medical research company’s stock after purchasing an additional 32,781 shares during the period. Edwards Lifesciences makes up about 2.6% of Manitou Investment Management Ltd.’s holdings, making the stock its 15th largest holding. Manitou Investment Management Ltd.’s holdings in Edwards Lifesciences were worth $13,285,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the company. FSA Wealth Management LLC acquired a new position in Edwards Lifesciences during the 3rd quarter worth $30,000. Prospera Private Wealth LLC acquired a new stake in shares of Edwards Lifesciences in the third quarter valued at about $32,000. Avior Wealth Management LLC increased its stake in shares of Edwards Lifesciences by 138.7% in the third quarter. Avior Wealth Management LLC now owns 530 shares of the medical research company’s stock worth $35,000 after purchasing an additional 308 shares during the period. Peoples Bank KS acquired a new position in shares of Edwards Lifesciences during the 3rd quarter worth about $40,000. Finally, JFS Wealth Advisors LLC boosted its stake in Edwards Lifesciences by 31.1% during the 3rd quarter. JFS Wealth Advisors LLC now owns 700 shares of the medical research company’s stock valued at $46,000 after purchasing an additional 166 shares during the period. 79.46% of the stock is owned by institutional investors.

Edwards Lifesciences Stock Performance

NYSE EW opened at $68.95 on Friday. Edwards Lifesciences Co. has a 1-year low of $58.93 and a 1-year high of $96.12. The company has a 50 day moving average of $72.25 and a 200-day moving average of $70.86. The company has a current ratio of 3.46, a quick ratio of 2.89 and a debt-to-equity ratio of 0.06. The firm has a market cap of $40.66 billion, a price-to-earnings ratio of 9.95, a PEG ratio of 3.54 and a beta of 1.11.

Edwards Lifesciences (NYSE:EW) last released its quarterly earnings results on Thursday, October 24th. The medical research company reported $0.67 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.67. The firm had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.57 billion. Edwards Lifesciences had a return on equity of 20.76% and a net margin of 70.82%. The business’s revenue was up 8.9% on a year-over-year basis. During the same period last year, the firm posted $0.59 EPS. On average, equities analysts forecast that Edwards Lifesciences Co. will post 2.56 earnings per share for the current fiscal year.

Insider Transactions at Edwards Lifesciences

In other Edwards Lifesciences news, VP Donald E. Bobo, Jr. sold 5,000 shares of Edwards Lifesciences stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $65.57, for a total transaction of $327,850.00. Following the completion of the sale, the vice president now 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Larry L. Wood sold 25,000 shares of Edwards Lifesciences stock in a transaction on 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 sale, the insider now directly 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 disclosure for this sale can be found here. Over the last quarter, insiders have sold 33,000 shares of company stock worth $2,195,180. Insiders own 1.29% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on EW shares. Canaccord Genuity Group upped their price target on Edwards Lifesciences from $63.00 to $68.00 and gave the stock a “hold” rating in a report on Thursday, December 5th. Barclays upped their target price on shares of Edwards Lifesciences from $85.00 to $88.00 and gave the company an “overweight” rating in a research note on Monday, December 2nd. Citigroup raised their price target on shares of Edwards Lifesciences from $81.00 to $83.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Piper Sandler cut their price objective on shares of Edwards Lifesciences from $73.00 to $70.00 and set a “neutral” rating for the company in a research report on Friday, October 25th. Finally, Bank of America upgraded shares of Edwards Lifesciences from a “neutral” rating to a “buy” rating and increased their target price for the company from $82.00 to $90.00 in a research note on Monday, December 16th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $78.48.

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.