Kornitzer Capital Management Inc. KS Buys 27,985 Shares of Edwards Lifesciences Co. (NYSE:EW)

Kornitzer Capital Management Inc. KS boosted its position in Edwards Lifesciences Co. (NYSE:EW) by 30.6% in the third quarter, HoldingsChannel.com reports. The firm owned 119,535 shares of the medical research company’s stock after acquiring an additional 27,985 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Edwards Lifesciences were worth $7,888,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. Crewe Advisors LLC purchased a new stake in Edwards Lifesciences during the first quarter valued at approximately $28,000. First Community Trust NA acquired a new stake in shares of Edwards Lifesciences in the 2nd quarter worth $29,000. Webster Bank N. A. purchased a new position in Edwards Lifesciences during the 2nd quarter worth $39,000. Peoples Bank KS acquired a new position in Edwards Lifesciences during the 3rd quarter valued at about $40,000. Finally, Versant Capital Management Inc raised its stake in Edwards Lifesciences by 206.3% in the second quarter. Versant Capital Management Inc now owns 484 shares of the medical research company’s stock valued at $45,000 after buying an additional 326 shares during the last quarter. 79.46% of the stock is currently owned by institutional investors.

Edwards Lifesciences Price Performance

Shares of Edwards Lifesciences stock opened at $65.84 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 firm has a market cap of $39.66 billion, a PE ratio of 9.50, a P/E/G ratio of 3.74 and a beta of 1.12. The business has a 50-day moving average price of $67.75 and a 200 day moving average price of $77.18. Edwards Lifesciences Co. has a twelve month low of $58.93 and a twelve month high of $96.12.

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 analyst estimates of $1.57 billion. During the same quarter in the previous year, the firm earned $0.59 EPS. The firm’s revenue was up 8.9% compared to the same quarter last year. Sell-side analysts predict that Edwards Lifesciences Co. will post 2.57 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Larry L. Wood sold 25,000 shares of Edwards Lifesciences stock in a transaction that occurred 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 $13,084,848.66. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Edwards Lifesciences news, insider Larry L. Wood sold 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $65.91, for a total value of $1,647,750.00. Following the transaction, the insider now directly owns 198,526 shares of the company’s stock, valued at $13,084,848.66. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Donald E. Bobo, Jr. sold 5,000 shares of the company’s stock in a transaction that occurred 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 sale, the vice president now owns 46,936 shares of the company’s stock, valued at $3,101,530.88. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 41,250 shares of company stock worth $2,746,988. Insiders own 1.27% of the company’s stock.

Analysts Set New Price Targets

EW has been the topic of a number of research analyst reports. Daiwa America lowered Edwards Lifesciences from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 30th. TD Cowen lowered shares of Edwards Lifesciences from a “buy” rating to a “hold” rating and cut their price target for the company from $100.00 to $70.00 in a research note on Thursday, July 25th. Wolfe Research upgraded shares of Edwards Lifesciences from an “underperform” rating to a “peer perform” rating in a research note on Monday, July 29th. Deutsche Bank Aktiengesellschaft cut their target price on Edwards Lifesciences from $103.00 to $85.00 and set a “buy” rating on the stock in a research report on Thursday, July 25th. Finally, Daiwa Capital Markets upgraded Edwards Lifesciences from a “neutral” rating to an “outperform” rating in a research note on Wednesday, July 31st. Seventeen equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $75.67.

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.