Pitcairn Co. Sells 7,675 Shares of Edwards Lifesciences Co. (NYSE:EW)

Pitcairn Co. trimmed its holdings in Edwards Lifesciences Co. (NYSE:EW) by 33.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,025 shares of the medical research company’s stock after selling 7,675 shares during the quarter. Pitcairn Co.’s holdings in Edwards Lifesciences were worth $1,112,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Wellington Management Group LLP boosted its holdings in Edwards Lifesciences by 86.3% in the 3rd quarter. Wellington Management Group LLP now owns 31,532,725 shares of the medical research company’s stock valued at $2,080,845,000 after purchasing an additional 14,610,123 shares during the period. Norges Bank acquired a new position in shares of Edwards Lifesciences during the fourth quarter valued at about $610,895,000. Jennison Associates LLC bought a new stake in shares of Edwards Lifesciences in the fourth quarter valued at about $555,939,000. Vanguard Group Inc. grew its position in Edwards Lifesciences by 10.4% during the fourth quarter. Vanguard Group Inc. now owns 69,132,036 shares of the medical research company’s stock worth $5,117,845,000 after buying an additional 6,537,494 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its stake in Edwards Lifesciences by 475.8% during the fourth quarter. Assenagon Asset Management S.A. now owns 4,243,976 shares of the medical research company’s stock valued at $314,182,000 after acquiring an additional 3,506,886 shares during the period. Institutional investors and hedge funds own 79.46% of the company’s stock.

Insider Activity

In other news, VP Donald E. Bobo, Jr. sold 9,500 shares of the firm’s stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $67.96, for a total value of $645,620.00. Following the transaction, the vice president now directly owns 46,936 shares in the company, valued at $3,189,770.56. This trade represents a 16.83 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Bernard J. Zovighian sold 6,164 shares of the company’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $69.51, for a total value of $428,459.64. Following the completion of the sale, the chief executive officer now owns 59,083 shares of the company’s stock, valued at $4,106,859.33. This represents a 9.45 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 62,553 shares of company stock valued at $4,513,064. 1.29% of the stock is currently owned by insiders.

Edwards Lifesciences Stock Performance

EW stock opened at $69.39 on Friday. The company has a 50 day moving average price of $71.74 and a 200 day moving average price of $70.62. Edwards Lifesciences Co. has a fifty-two week low of $58.93 and a fifty-two week high of $95.25. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.46 and a quick ratio of 2.89. The stock has a market capitalization of $40.79 billion, a PE ratio of 9.95, a price-to-earnings-growth ratio of 4.82 and a beta of 1.15.

Edwards Lifesciences (NYSE:EW) last issued its quarterly earnings results on Tuesday, February 11th. The medical research company reported $0.59 earnings per share (EPS) for the quarter, beating 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%. Analysts forecast that Edwards Lifesciences Co. will post 2.45 EPS for the current year.

Analyst Ratings Changes

EW has been the topic of several recent research reports. Canaccord Genuity Group lifted their price objective on Edwards Lifesciences from $68.00 to $71.00 and gave the stock a “hold” rating in a report on Thursday, February 13th. Wolfe Research lowered shares of Edwards Lifesciences from a “hold” rating to a “strong sell” rating in a report on Wednesday, February 12th. Evercore ISI decreased their target price on shares of Edwards Lifesciences from $75.00 to $73.00 and set an “in-line” rating on the stock in a research report on Wednesday, February 12th. Royal Bank of Canada reissued an “outperform” rating and issued a $85.00 price target on shares of Edwards Lifesciences in a research report on Wednesday, February 12th. Finally, Piper Sandler lifted their price objective on Edwards Lifesciences from $70.00 to $73.00 and gave the company a “neutral” rating in a report on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $79.95.

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.