Manitou Investment Management Ltd. Buys 146,423 Shares of Edwards Lifesciences Co. (NYSE:EW)

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

Other large investors have also recently added to or reduced their stakes in the company. Crewe Advisors LLC acquired a new position in shares of Edwards Lifesciences during the first quarter worth approximately $28,000. First Community Trust NA acquired a new position in shares of Edwards Lifesciences during the second quarter worth approximately $29,000. Webster Bank N. A. acquired a new position in shares of Edwards Lifesciences during the second quarter worth approximately $39,000. Peoples Bank KS acquired a new position in shares of Edwards Lifesciences during the third quarter worth approximately $40,000. Finally, Versant Capital Management Inc lifted its holdings in shares of Edwards Lifesciences by 206.3% during the second quarter. Versant Capital Management Inc now owns 484 shares of the medical research company’s stock worth $45,000 after buying an additional 326 shares during the last quarter. Institutional investors own 79.46% of the company’s stock.

Edwards Lifesciences Trading Down 2.3 %

EW opened at $67.02 on Friday. The company has a current ratio of 3.71, a quick ratio of 2.87 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $40.37 billion, a PE ratio of 9.67, a PEG ratio of 3.86 and a beta of 1.13. Edwards Lifesciences Co. has a 1-year low of $58.93 and a 1-year high of $96.12. The firm has a 50-day moving average price of $67.98 and a two-hundred day moving average price of $77.85.

Edwards Lifesciences (NYSE:EW) last issued its quarterly earnings results on Thursday, October 24th. The medical research company reported $0.67 EPS for the quarter, hitting the consensus estimate of $0.67. Edwards Lifesciences had a net margin of 70.82% and a return on equity of 22.56%. The company had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.57 billion. During the same quarter in the previous year, the company earned $0.59 EPS. Edwards Lifesciences’s revenue was up 8.9% on a year-over-year basis. As a group, equities analysts anticipate that Edwards Lifesciences Co. will post 2.57 earnings per share for the current fiscal year.

Insider Transactions at Edwards Lifesciences

In other Edwards Lifesciences news, VP Daveen Chopra sold 1,250 shares of Edwards Lifesciences stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $69.95, for a total value of $87,437.50. Following the transaction, the vice president now owns 29,333 shares of the company’s stock, valued at approximately $2,051,843.35. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Edwards Lifesciences news, VP Daveen Chopra sold 1,250 shares of Edwards Lifesciences stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $69.95, for a total value of $87,437.50. Following the transaction, the vice president now owns 29,333 shares of the company’s stock, valued at approximately $2,051,843.35. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through 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 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 position. The disclosure for this sale can be found here. Insiders sold a total of 16,250 shares of company stock worth $1,099,238 in the last quarter. 1.29% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on EW shares. Truist Financial cut their target price on Edwards Lifesciences from $71.00 to $70.00 and set a “hold” rating for the company in a research note on Friday, October 25th. Citigroup cut their target price on Edwards Lifesciences from $83.00 to $77.00 and set a “buy” rating for the company in a research note on Tuesday, October 1st. Daiwa Capital Markets upgraded Edwards Lifesciences from a “neutral” rating to an “outperform” rating in a research note on Wednesday, July 31st. JPMorgan Chase & Co. upped their target price on Edwards Lifesciences from $72.00 to $78.00 and gave the company a “neutral” rating in a research note on Friday, October 25th. Finally, Barclays cut their target price on Edwards Lifesciences from $90.00 to $80.00 and set an “overweight” rating for the company in a research note on Monday, September 9th. Seventeen equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price 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.