Patten & Patten Inc. TN Has $11.41 Million Position in Edwards Lifesciences Co. (NYSE:EW)

Patten & Patten Inc. TN trimmed its position in Edwards Lifesciences Co. (NYSE:EW - Free Report) by 6.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 154,180 shares of the medical research company's stock after selling 10,724 shares during the period. Patten & Patten Inc. TN's holdings in Edwards Lifesciences were worth $11,414,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of EW. FSA Wealth Management LLC bought a new stake in shares of Edwards Lifesciences in the third quarter valued at about $30,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Edwards Lifesciences in the fourth quarter valued at about $30,000. Prospera Private Wealth LLC bought a new stake in shares of Edwards Lifesciences in the third quarter valued at about $32,000. Avior Wealth Management LLC lifted its holdings in shares of Edwards Lifesciences by 138.7% in the third quarter. Avior Wealth Management LLC now owns 530 shares of the medical research company's stock valued at $35,000 after purchasing an additional 308 shares in the last quarter. Finally, Roble Belko & Company Inc bought a new stake in shares of Edwards Lifesciences in the fourth quarter valued at about $46,000. 79.46% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Wolfe Research downgraded Edwards Lifesciences from a "hold" rating to a "strong sell" rating in a research report on Wednesday, February 12th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $85.00 target price on shares of Edwards Lifesciences in a research report on Wednesday, February 12th. Canaccord Genuity Group lifted their target price on Edwards Lifesciences from $68.00 to $71.00 and gave the company a "hold" rating in a research report on Thursday, February 13th. Truist Financial reaffirmed a "hold" rating and issued a $78.00 target price (up previously from $70.00) on shares of Edwards Lifesciences in a research report on Thursday, December 5th. Finally, Bank of America raised Edwards Lifesciences from a "neutral" rating to a "buy" rating and lifted their target price for the company from $82.00 to $90.00 in a research report on Monday, December 16th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $79.95.

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Insider Transactions at Edwards Lifesciences

In other news, VP Daniel J. Lippis sold 500 shares of the company's stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $68.76, for a total transaction of $34,380.00. Following the completion of the transaction, the vice president now directly owns 23,189 shares in the company, valued at approximately $1,594,475.64. This represents a 2.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Bernard J. Zovighian sold 6,164 shares of the company's stock in a transaction on Monday, March 10th. The stock was sold at an average price of $69.51, for a total transaction of $428,459.64. Following the transaction, the chief executive officer now owns 59,083 shares of the company's stock, valued at $4,106,859.33. This trade represents a 9.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 51,303 shares of company stock worth $3,715,776. Corporate insiders own 1.29% of the company's stock.

Edwards Lifesciences Price Performance

Shares of EW stock traded up $0.01 during trading on Thursday, hitting $70.91. The company had a trading volume of 4,052,921 shares, compared to its average volume of 4,591,142. The stock's 50-day moving average price is $71.54 and its 200 day moving average price is $70.35. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.89 and a current ratio of 3.46. Edwards Lifesciences Co. has a one year low of $58.93 and a one year high of $96.12. The firm has a market capitalization of $41.69 billion, a P/E ratio of 10.17, a price-to-earnings-growth ratio of 4.82 and a beta of 1.12.

Edwards Lifesciences (NYSE:EW - Get Free Report) last released its earnings results on Tuesday, February 11th. The medical research company reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.04. Edwards Lifesciences had a return on equity of 19.40% and a net margin of 72.93%. Equities analysts expect that Edwards Lifesciences Co. will post 2.45 EPS for the current fiscal year.

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.