Edwards Lifesciences Co. (NYSE:EW) Position Trimmed by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. reduced its holdings in Edwards Lifesciences Co. (NYSE:EW) by 3.5% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 633,942 shares of the medical research company’s stock after selling 22,824 shares during the quarter. PNC Financial Services Group Inc. owned approximately 0.11% of Edwards Lifesciences worth $41,834,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Price T Rowe Associates Inc. MD raised its holdings in shares of Edwards Lifesciences by 57.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,516,260 shares of the medical research company’s stock valued at $622,695,000 after buying an additional 2,390,137 shares during the last quarter. Swedbank AB bought a new stake in Edwards Lifesciences during the 1st quarter valued at $124,511,000. Bank of New York Mellon Corp boosted its position in Edwards Lifesciences by 4.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 19,782,909 shares of the medical research company’s stock worth $1,827,347,000 after acquiring an additional 809,605 shares during the period. AustralianSuper Pty Ltd boosted its position in Edwards Lifesciences by 17.8% during the 3rd quarter. AustralianSuper Pty Ltd now owns 3,273,416 shares of the medical research company’s stock worth $216,013,000 after acquiring an additional 494,604 shares during the period. Finally, United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund grew its stake in shares of Edwards Lifesciences by 422.3% in the third quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund now owns 450,233 shares of the medical research company’s stock worth $29,711,000 after purchasing an additional 364,030 shares in the last quarter. 79.46% of the stock is currently owned by institutional investors.

Edwards Lifesciences Trading Down 0.9 %

Edwards Lifesciences stock opened at $69.54 on Thursday. Edwards Lifesciences Co. has a 52 week low of $58.93 and a 52 week high of $96.12. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.89 and a current ratio of 3.46. The firm has a market capitalization of $41.01 billion, a PE ratio of 10.03, a PEG ratio of 3.81 and a beta of 1.12. The business’s 50-day simple moving average is $67.61 and its 200-day simple moving average is $75.87.

Edwards Lifesciences (NYSE:EW) last posted its quarterly earnings data 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. Edwards Lifesciences had a net margin of 70.82% and a return on equity of 20.76%. The company had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.57 billion. During the same quarter in the previous year, the firm posted $0.59 EPS. The business’s revenue was up 8.9% compared to the same quarter last year. Equities research analysts forecast that Edwards Lifesciences Co. will post 2.57 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Daiwa America cut shares of Edwards Lifesciences from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Piper Sandler reduced their price target on shares of Edwards Lifesciences from $73.00 to $70.00 and set a “neutral” rating for the company in a research note on Friday, October 25th. Canaccord Genuity Group lowered their price objective on shares of Edwards Lifesciences from $66.00 to $63.00 and set a “hold” rating on the stock in a research note on Friday, October 25th. Morgan Stanley reissued an “equal weight” rating and set a $70.00 target price on shares of Edwards Lifesciences in a report on Friday, October 11th. Finally, Wells Fargo & Company decreased their price target 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 investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $75.67.

Insiders Place Their Bets

In other news, insider Larry L. Wood sold 25,000 shares of the 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 completion of the transaction, the insider now directly owns 198,526 shares of the company’s stock, valued at approximately $13,084,848.66. This represents a 11.18 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Donald E. Bobo, Jr. sold 5,000 shares of the stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $69.51, for a total value of $347,550.00. Following the transaction, the vice president now owns 46,936 shares of the company’s stock, valued at $3,262,521.36. This represents a 9.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 40,000 shares of company stock worth $2,657,000. 1.27% of the stock is currently owned by company insiders.

Edwards Lifesciences Company 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.