PNC Financial Services Group Inc. Has $41.83 Million Holdings in Edwards Lifesciences Co. (NYSE:EW)

PNC Financial Services Group Inc. cut its stake in Edwards Lifesciences Co. (NYSE:EW) by 3.5% in the third quarter, HoldingsChannel.com reports. The fund owned 633,942 shares of the medical research company’s stock after selling 22,824 shares during the period. PNC Financial Services Group Inc.’s holdings in Edwards Lifesciences were worth $41,834,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. Crewe Advisors LLC acquired a new stake in shares of Edwards Lifesciences during the first quarter worth about $28,000. First Community Trust NA acquired a new stake in shares of Edwards Lifesciences in the 2nd quarter valued at approximately $29,000. Webster Bank N. A. acquired a new stake in Edwards Lifesciences in the second quarter valued at $39,000. Versant Capital Management Inc grew its holdings in Edwards Lifesciences by 206.3% during the second quarter. Versant Capital Management Inc now owns 484 shares of the medical research company’s stock worth $45,000 after purchasing an additional 326 shares during the period. Finally, HHM Wealth Advisors LLC bought a new position in shares of Edwards Lifesciences during the 2nd quarter worth approximately $55,000. Institutional investors own 79.46% of the company’s stock.

Analyst Ratings Changes

EW has been the topic of several research analyst reports. Barclays lowered their price target on shares of Edwards Lifesciences from $90.00 to $80.00 and set an “overweight” rating on the stock in a report on Monday, September 9th. Wolfe Research upgraded Edwards Lifesciences from an “underperform” rating to a “peer perform” rating in a research note on Monday, July 29th. Jefferies Financial Group downgraded Edwards Lifesciences from a “buy” rating to a “hold” rating and reduced their price target for the company from $85.00 to $70.00 in a research note on Wednesday, September 18th. Morgan Stanley reiterated an “equal weight” rating and set a $70.00 price objective on shares of Edwards Lifesciences in a research report on Friday, October 11th. Finally, Baird R W cut shares of Edwards Lifesciences from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 25th. Seventeen investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, Edwards Lifesciences currently has an average rating of “Hold” and an average target price of $75.67.

Insider Buying and Selling

In related news, VP Donald E. Bobo, Jr. sold 5,000 shares of Edwards Lifesciences stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $65.57, for a total value of $327,850.00. Following the completion of the transaction, the vice president now owns 46,936 shares in the company, valued at approximately $3,077,593.52. This trade represents a 9.63 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Larry L. Wood sold 25,000 shares of the business’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $65.91, for a total transaction of $1,647,750.00. Following the transaction, the insider now owns 198,526 shares in the company, valued at $13,084,848.66. This trade represents a 11.18 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 40,000 shares of company stock worth $2,657,000. 1.27% of the stock is owned by corporate insiders.

Edwards Lifesciences Stock Performance

Shares of Edwards Lifesciences stock opened at $69.54 on Thursday. The stock has a market cap of $41.01 billion, a price-to-earnings ratio of 10.03, a PEG ratio of 3.81 and a beta of 1.12. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.46 and a quick ratio of 2.89. Edwards Lifesciences Co. has a 1 year low of $58.93 and a 1 year high of $96.12. The firm’s 50-day moving average is $67.61 and its 200 day moving average is $75.87.

Edwards Lifesciences (NYSE:EW) last released its quarterly earnings results on Thursday, October 24th. The medical research company reported $0.67 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.67. Edwards Lifesciences had a return on equity of 20.76% and a net margin of 70.82%. The firm had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.57 billion. During the same period last year, the business posted $0.59 EPS. The company’s revenue for the quarter was up 8.9% on a year-over-year basis. Sell-side analysts anticipate that Edwards Lifesciences Co. will post 2.57 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.