PNC Financial Services Group Inc. Cuts Stock Holdings in Edwards Lifesciences Co. (NYSE:EW)

PNC Financial Services Group Inc. lessened its holdings in Edwards Lifesciences Co. (NYSE:EW - Free Report) by 3.5% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm 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 about 0.11% of Edwards Lifesciences worth $41,834,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in EW. Price T Rowe Associates Inc. MD grew its stake in shares of Edwards Lifesciences by 57.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,516,260 shares of the medical research company's stock worth $622,695,000 after acquiring an additional 2,390,137 shares during the period. Swedbank AB bought a new stake in shares of Edwards Lifesciences in the first quarter worth $124,511,000. Bank of New York Mellon Corp lifted its holdings in Edwards Lifesciences by 4.3% in the second quarter. Bank of New York Mellon Corp now owns 19,782,909 shares of the medical research company's stock valued at $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% in the third quarter. AustralianSuper Pty Ltd now owns 3,273,416 shares of the medical research company's stock worth $216,013,000 after purchasing an additional 494,604 shares during the last quarter. Finally, United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund increased its position in shares of Edwards Lifesciences by 422.3% during the 3rd 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 valued at $29,711,000 after purchasing an additional 364,030 shares during the last quarter. Institutional investors own 79.46% of the company's stock.

Edwards Lifesciences Stock Down 0.9 %

Shares of NYSE:EW opened at $69.54 on Thursday. The company has a market cap of $41.01 billion, a price-to-earnings ratio of 10.03, a PEG ratio of 3.95 and a beta of 1.12. Edwards Lifesciences Co. has a 12 month low of $58.93 and a 12 month high of $96.12. The company has a current ratio of 3.46, a quick ratio of 2.89 and a debt-to-equity ratio of 0.06. The company has a 50-day moving average price of $67.61 and a 200 day moving average price of $75.87.

Edwards Lifesciences (NYSE:EW - Get Free Report) last posted its quarterly earnings data on Thursday, October 24th. The medical research company reported $0.67 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.67. The business had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.57 billion. Edwards Lifesciences had a return on equity of 20.76% and a net margin of 70.82%. The company's revenue for the quarter was up 8.9% on a year-over-year basis. During the same period last year, the company earned $0.59 EPS. As a group, equities research analysts predict that Edwards Lifesciences Co. will post 2.57 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on EW shares. Truist Financial decreased their price target on shares of Edwards Lifesciences from $71.00 to $70.00 and set a "hold" rating on the stock in a research report on Friday, October 25th. Robert W. Baird decreased their target price on Edwards Lifesciences from $73.00 to $68.00 and set a "neutral" rating on the stock in a report on Friday, October 25th. Morgan Stanley reissued an "equal weight" rating and set a $70.00 price target on shares of Edwards Lifesciences in a report on Friday, October 11th. Daiwa America downgraded Edwards Lifesciences from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, October 30th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on Edwards Lifesciences from $103.00 to $85.00 and set a "buy" rating for the company in a research note on Thursday, July 25th. Seventeen investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $75.67.

Insiders Place Their Bets

In other Edwards Lifesciences news, insider Larry L. Wood sold 25,000 shares of the company's stock in a transaction dated 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 in the company, valued at $13,084,848.66. This represents a 11.18 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Donald E. Bobo, Jr. sold 5,000 shares of the business's stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $69.51, for a total value of $347,550.00. Following the completion of the sale, the vice president now owns 46,936 shares of the company's stock, valued at $3,262,521.36. The trade was a 9.63 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 40,000 shares of company stock valued at $2,657,000 over the last three months. 1.29% of the stock is owned by company insiders.

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.