PNC Financial Services Group Inc. Decreases Position in Edwards Lifesciences Co. (NYSE:EW)

PNC Financial Services Group Inc. lowered its stake in shares of Edwards Lifesciences Co. (NYSE:EW) by 4.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 604,578 shares of the medical research company’s stock after selling 29,364 shares during the period. PNC Financial Services Group Inc. owned 0.10% of Edwards Lifesciences worth $44,757,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Bank Julius Baer & Co. Ltd Zurich boosted its holdings in Edwards Lifesciences by 33.5% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 127,436 shares of the medical research company’s stock worth $10,411,000 after buying an additional 31,972 shares during the period. Aviance Capital Partners LLC boosted its holdings in Edwards Lifesciences by 8.3% in the 4th quarter. Aviance Capital Partners LLC now owns 7,794 shares of the medical research company’s stock worth $577,000 after buying an additional 600 shares during the period. Destination Wealth Management boosted its holdings in Edwards Lifesciences by 12.6% in the 4th quarter. Destination Wealth Management now owns 7,893 shares of the medical research company’s stock worth $584,000 after buying an additional 881 shares during the period. Callan Family Office LLC bought a new position in Edwards Lifesciences in the 4th quarter worth approximately $557,000. Finally, E Fund Management Co. Ltd. boosted its holdings in Edwards Lifesciences by 63.6% in the 4th quarter. E Fund Management Co. Ltd. now owns 5,846 shares of the medical research company’s stock worth $433,000 after buying an additional 2,273 shares during the period. Hedge funds and other institutional investors own 79.46% of the company’s stock.

Wall Street Analyst Weigh In

EW has been the subject of several analyst reports. Bank of America raised shares of Edwards Lifesciences from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $82.00 to $90.00 in a report on Monday, December 16th. The Goldman Sachs Group raised their price objective on shares of Edwards Lifesciences from $81.00 to $90.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. Barclays raised their price target on shares of Edwards Lifesciences from $88.00 to $90.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Stifel Nicolaus raised shares of Edwards Lifesciences from a “hold” rating to a “buy” rating and raised their price target for the company from $75.00 to $90.00 in a report on Thursday, January 30th. Finally, Piper Sandler raised their price target on shares of Edwards Lifesciences from $70.00 to $73.00 and gave the company a “neutral” rating in a report on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Edwards Lifesciences presently has a consensus rating of “Hold” and an average target price of $79.95.

Edwards Lifesciences Price Performance

Shares of NYSE:EW opened at $70.36 on Monday. The stock has a market cap of $41.37 billion, a PE ratio of 10.10, a PEG ratio of 4.82 and a beta of 1.12. The company’s fifty day moving average is $72.26 and its 200 day moving average is $70.39. Edwards Lifesciences Co. has a 52 week low of $58.93 and a 52 week high of $96.12. The company has a quick ratio of 2.89, a current ratio of 3.46 and a debt-to-equity ratio of 0.06.

Edwards Lifesciences (NYSE:EW) last released its quarterly earnings data on Tuesday, February 11th. The medical research company reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.04. Edwards Lifesciences had a net margin of 72.93% and a return on equity of 19.40%. Research analysts anticipate that Edwards Lifesciences Co. will post 2.45 earnings per share for the current year.

Insider Buying and Selling at Edwards Lifesciences

In other Edwards Lifesciences news, VP Daniel J. Lippis sold 500 shares of the business’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $68.76, for a total value of $34,380.00. Following the transaction, the vice president now owns 23,189 shares in the company, valued at approximately $1,594,475.64. The trade was a 2.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Steven R. Loranger sold 5,739 shares of the business’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $76.42, for a total transaction of $438,574.38. Following the completion of the transaction, the director now owns 60,372 shares in the company, valued at $4,613,628.24. The trade was a 8.68 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 37,739 shares of company stock worth $2,799,104. 1.29% of the stock is currently owned by company insiders.

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.