M&T Bank Corp Sells 79,357 Shares of Edwards Lifesciences Co. (NYSE:EW)

M&T Bank Corp reduced its position in Edwards Lifesciences Co. (NYSE:EW – Get Rating) by 34.6% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 150,270 shares of the medical research company’s stock after selling 79,357 shares during the quarter. M&T Bank Corp’s holdings in Edwards Lifesciences were worth $12,418,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of EW. Sequoia Financial Advisors LLC boosted its stake in shares of Edwards Lifesciences by 11.4% in the 1st quarter. Sequoia Financial Advisors LLC now owns 9,181 shares of the medical research company’s stock valued at $1,081,000 after purchasing an additional 941 shares during the last quarter. Zions Bancorporation N.A. lifted its position in shares of Edwards Lifesciences by 34.7% during the 1st quarter. Zions Bancorporation N.A. now owns 1,738 shares of the medical research company’s stock valued at $204,000 after acquiring an additional 448 shares during the period. Covestor Ltd lifted its position in shares of Edwards Lifesciences by 18.2% during the 1st quarter. Covestor Ltd now owns 1,223 shares of the medical research company’s stock valued at $144,000 after acquiring an additional 188 shares during the period. Mather Group LLC. lifted its position in shares of Edwards Lifesciences by 53.5% during the 1st quarter. Mather Group LLC. now owns 7,182 shares of the medical research company’s stock valued at $846,000 after acquiring an additional 2,503 shares during the period. Finally, Mackenzie Financial Corp lifted its position in shares of Edwards Lifesciences by 3.1% during the 1st quarter. Mackenzie Financial Corp now owns 655,567 shares of the medical research company’s stock valued at $77,173,000 after acquiring an additional 19,798 shares during the period. 80.35% of the stock is owned by institutional investors.

Insider Activity at Edwards Lifesciences

In related news, VP Daveen Chopra sold 4,435 shares of the stock in a transaction dated Wednesday, March 15th. The shares were sold at an average price of $77.47, for a total transaction of $343,579.45. Following the completion of the transaction, the vice president now owns 18,911 shares in the company, valued at $1,465,035.17. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Edwards Lifesciences news, CEO Michael A. Mussallem sold 19,875 shares of the stock in a transaction dated Friday, January 13th. The shares were sold at an average price of $78.09, for a total transaction of $1,552,038.75. Following the completion of the transaction, the chief executive officer now owns 157,353 shares in the company, valued at $12,287,695.77. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Daveen Chopra sold 4,435 shares of the stock in a transaction dated Wednesday, March 15th. The stock was sold at an average price of $77.47, for a total transaction of $343,579.45. Following the transaction, the vice president now owns 18,911 shares of the company’s stock, valued at approximately $1,465,035.17. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 101,821 shares of company stock worth $7,902,704. 1.29% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Stifel Nicolaus downgraded shares of Edwards Lifesciences from a “buy” rating to a “hold” rating and dropped their target price for the company from $95.00 to $75.00 in a research report on Monday, December 5th. Royal Bank of Canada dropped their target price on shares of Edwards Lifesciences from $118.00 to $105.00 and set an “outperform” rating on the stock in a research report on Monday, November 28th. Truist Financial boosted their target price on shares of Edwards Lifesciences from $85.00 to $86.00 and gave the company a “buy” rating in a research report on Wednesday, February 1st. Morgan Stanley boosted their target price on shares of Edwards Lifesciences from $92.00 to $95.00 and gave the company an “overweight” rating in a research report on Friday, January 6th. Finally, Sanford C. Bernstein downgraded shares of Edwards Lifesciences from an “outperform” rating to an “underperform” rating and lowered their price objective for the stock from $95.00 to $66.00 in a report on Tuesday, January 31st. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $88.95.

Edwards Lifesciences Price Performance

EW opened at $79.48 on Thursday. The firm has a market cap of $48.35 billion, a P/E ratio of 32.57, a PEG ratio of 4.33 and a beta of 1.01. The firm has a 50-day moving average of $78.14 and a 200 day moving average of $79.52. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.17 and a current ratio of 3.03. Edwards Lifesciences Co. has a fifty-two week low of $67.13 and a fifty-two week high of $131.10.

Edwards Lifesciences (NYSE:EW – Get Rating) last posted its quarterly earnings results on Tuesday, January 31st. The medical research company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.03. The company had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.33 billion. Edwards Lifesciences had a net margin of 28.27% and a return on equity of 26.05%. The firm’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.51 earnings per share. On average, research analysts expect that Edwards Lifesciences Co. will post 2.52 EPS for the current year.

Edwards Lifesciences Profile

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Edwards Lifesciences Corp. engages in patient-focused medical innovations for heart disease and critical care monitoring. Its products are categorized into four main areas: Transcatheter Aortic Valve Replacement, Transcatheter Mitral and Tricuspid Therapies, Surgical Structural Heart, and Critical Care.