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

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

Other hedge funds also recently modified their holdings of the company. Abacus Planning Group Inc. raised its position in Edwards Lifesciences by 0.3% during the 4th quarter. Abacus Planning Group Inc. now owns 40,207 shares of the medical research company's stock worth $2,977,000 after purchasing an additional 140 shares during the last quarter. Bowman & Co S.C. raised its position in Edwards Lifesciences by 1.2% during the 4th quarter. Bowman & Co S.C. now owns 12,487 shares of the medical research company's stock worth $924,000 after purchasing an additional 148 shares during the last quarter. Pegasus Asset Management Inc. raised its position in Edwards Lifesciences by 0.4% during the 4th quarter. Pegasus Asset Management Inc. now owns 42,628 shares of the medical research company's stock worth $3,156,000 after purchasing an additional 159 shares during the last quarter. Mount Yale Investment Advisors LLC raised its position in Edwards Lifesciences by 1.9% during the 4th quarter. Mount Yale Investment Advisors LLC now owns 8,563 shares of the medical research company's stock worth $634,000 after purchasing an additional 162 shares during the last quarter. Finally, Cooper Financial Group raised its position in Edwards Lifesciences by 2.8% during the 4th quarter. Cooper Financial Group now owns 6,466 shares of the medical research company's stock worth $479,000 after purchasing an additional 175 shares during the last quarter. Institutional investors and hedge funds own 79.46% of the company's stock.

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Insider Buying and Selling at Edwards Lifesciences

In other news, CEO Bernard J. Zovighian sold 6,164 shares of the business's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $69.51, for a total value of $428,459.64. Following the transaction, the chief executive officer now owns 59,083 shares in the company, valued at $4,106,859.33. The trade was a 9.45 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Daniel J. Lippis sold 400 shares of the business's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $69.48, for a total value of $27,792.00. Following the completion of the transaction, the vice president now owns 22,588 shares in the company, valued at $1,569,414.24. The trade was a 1.74 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 44,303 shares of company stock worth $3,255,356. Insiders own 1.29% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on EW. Truist Financial reaffirmed a "hold" rating and set a $78.00 target price (up from $70.00) on shares of Edwards Lifesciences in a research report on Thursday, December 5th. Canaccord Genuity Group raised their target price on Edwards Lifesciences from $68.00 to $71.00 and gave the stock a "hold" rating in a research report on Thursday, February 13th. Citigroup raised their target price on Edwards Lifesciences from $81.00 to $83.00 and gave the stock a "buy" rating in a research report on Wednesday, December 11th. Morgan Stanley lifted their price objective on Edwards Lifesciences from $70.00 to $75.00 and gave the stock an "equal weight" rating in a research report on Wednesday, February 12th. Finally, Stifel Nicolaus raised Edwards Lifesciences from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $75.00 to $90.00 in a research report on Thursday, January 30th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $79.95.

Edwards Lifesciences Stock Up 0.2 %

EW stock traded up $0.13 during mid-day trading on Wednesday, reaching $68.52. 4,453,470 shares of the company traded hands, compared to its average volume of 4,501,923. The stock has a market cap of $40.28 billion, a price-to-earnings ratio of 9.83, a P/E/G ratio of 4.82 and a beta of 1.12. 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 Co. has a fifty-two week low of $58.93 and a fifty-two week high of $96.12. The firm's 50 day moving average price is $71.92 and its 200 day moving average price is $70.34.

Edwards Lifesciences (NYSE:EW - Get Free Report) last released its quarterly earnings results 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 return on equity of 19.40% and a net margin of 72.93%. As a group, equities research analysts predict that Edwards Lifesciences Co. will post 2.45 EPS for the current fiscal year.

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.