PNC Financial Services Group Inc. Sells 14,592 Shares of Edwards Lifesciences Corporation $EW

PNC Financial Services Group Inc. lowered its stake in shares of Edwards Lifesciences Corporation (NYSE:EW) by 2.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 566,487 shares of the medical research company’s stock after selling 14,592 shares during the quarter. PNC Financial Services Group Inc. owned about 0.10% of Edwards Lifesciences worth $44,305,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Nuveen LLC acquired a new stake in shares of Edwards Lifesciences during the 1st quarter worth $330,881,000. Jennison Associates LLC raised its stake in Edwards Lifesciences by 34.3% in the first quarter. Jennison Associates LLC now owns 10,086,033 shares of the medical research company’s stock valued at $731,036,000 after purchasing an additional 2,576,383 shares in the last quarter. Mirova US LLC raised its stake in Edwards Lifesciences by 56.2% in the second quarter. Mirova US LLC now owns 2,931,297 shares of the medical research company’s stock valued at $229,257,000 after purchasing an additional 1,054,301 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in Edwards Lifesciences during the second quarter worth about $67,832,000. Finally, Woodline Partners LP grew its stake in Edwards Lifesciences by 7,805.0% during the first quarter. Woodline Partners LP now owns 825,358 shares of the medical research company’s stock worth $59,822,000 after buying an additional 814,917 shares in the last quarter. 79.46% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Larry L. Wood sold 8,950 shares of the business’s stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $78.06, for a total transaction of $698,637.00. Following the sale, the insider directly owned 206,900 shares in the company, valued at approximately $16,150,614. The trade was a 4.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Daniel J. Lippis sold 1,020 shares of the company’s stock in a transaction that occurred on Monday, November 10th. The shares were sold at an average price of $82.55, for a total value of $84,201.00. Following the completion of the transaction, the vice president directly owned 22,002 shares of the company’s stock, valued at $1,816,265.10. This represents a 4.43% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 22,970 shares of company stock valued at $1,862,878. 0.34% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have commented on EW. UBS Group reissued a “neutral” rating and issued a $90.00 target price on shares of Edwards Lifesciences in a report on Monday, November 3rd. Evercore ISI increased their price target on shares of Edwards Lifesciences from $88.00 to $92.00 and gave the stock an “outperform” rating in a research report on Friday, October 31st. Wall Street Zen cut shares of Edwards Lifesciences from a “strong-buy” rating to a “buy” rating in a research note on Monday, September 29th. Truist Financial upped their target price on Edwards Lifesciences from $87.00 to $90.00 and gave the stock a “hold” rating in a research note on Monday, November 3rd. Finally, Mizuho raised their target price on Edwards Lifesciences from $90.00 to $100.00 and gave the company an “outperform” rating in a report on Friday, October 31st. Three investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $91.39.

Edwards Lifesciences Price Performance

Shares of NYSE:EW opened at $86.17 on Friday. Edwards Lifesciences Corporation has a one year low of $65.31 and a one year high of $87.21. The company has a debt-to-equity ratio of 0.06, a current ratio of 4.68 and a quick ratio of 3.87. The company has a market cap of $50.00 billion, a price-to-earnings ratio of 12.40, a PEG ratio of 3.97 and a beta of 1.03. The firm has a 50 day simple moving average of $78.09 and a 200 day simple moving average of $77.65.

Edwards Lifesciences (NYSE:EW) last announced its quarterly earnings results on Thursday, October 30th. The medical research company reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.08. Edwards Lifesciences had a net margin of 72.96% and a return on equity of 15.01%. The company had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.49 billion. During the same period in the prior year, the business earned $0.67 earnings per share. The company’s revenue for the quarter was up 14.7% compared to the same quarter last year. Edwards Lifesciences has set its FY 2025 guidance at 2.560-2.620 EPS. Q4 2025 guidance at 0.580-0.640 EPS. Research analysts predict that Edwards Lifesciences Corporation will post 2.45 earnings per share 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.