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

Patten & Patten Inc. TN lowered its stake in Edwards Lifesciences Co. (NYSE:EW) by 6.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 154,180 shares of the medical research company’s stock after selling 10,724 shares during the quarter. Patten & Patten Inc. TN’s holdings in Edwards Lifesciences were worth $11,414,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. FSA Wealth Management LLC acquired a new stake in Edwards Lifesciences during the 3rd quarter worth $30,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Edwards Lifesciences in the 4th quarter valued at about $30,000. Prospera Private Wealth LLC acquired a new stake in shares of Edwards Lifesciences in the 3rd quarter valued at about $32,000. Avior Wealth Management LLC raised its stake in shares of Edwards Lifesciences by 138.7% in the 3rd 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 during the period. Finally, Roble Belko & Company Inc acquired a new stake in shares of Edwards Lifesciences in the 4th quarter valued at about $46,000. Institutional investors and hedge funds own 79.46% of the company’s stock.

Insider Activity

In other Edwards Lifesciences news, Director Steven R. Loranger sold 5,739 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $76.42, for a total transaction of $438,574.38. Following the completion of the transaction, the director now directly owns 60,372 shares in the company, valued at $4,613,628.24. The trade was a 8.68 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Scott B. Ullem sold 11,250 shares of the business’s stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $75.76, for a total transaction of $852,300.00. Following the transaction, the chief financial officer now owns 30,561 shares of the company’s stock, valued at approximately $2,315,301.36. This represents a 26.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 53,803 shares of company stock worth $3,900,976. Corporate insiders own 1.29% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on EW. Bank of America raised Edwards Lifesciences from a “neutral” rating to a “buy” rating and lifted their price target for the company from $82.00 to $90.00 in a research note on Monday, December 16th. Morgan Stanley raised their price objective on Edwards Lifesciences from $70.00 to $75.00 and gave the company an “equal weight” rating in a report on Wednesday, February 12th. Canaccord Genuity Group raised their price objective on Edwards Lifesciences from $68.00 to $71.00 and gave the company a “hold” rating in a report on Thursday, February 13th. The Goldman Sachs Group raised their price objective on Edwards Lifesciences from $81.00 to $90.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Finally, Truist Financial restated a “hold” rating and issued a $78.00 price objective (up previously from $70.00) on shares of Edwards Lifesciences in a report on Thursday, December 5th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $79.95.

Edwards Lifesciences Trading Up 2.1 %

Shares of EW stock opened at $69.37 on Friday. The firm has a 50 day moving average price of $71.74 and a two-hundred day moving average price of $70.33. The company has a quick ratio of 2.89, a current ratio of 3.46 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $40.78 billion, a PE ratio of 9.95, a price-to-earnings-growth ratio of 4.82 and a beta of 1.12. Edwards Lifesciences Co. has a 12-month low of $58.93 and a 12-month high of $96.12.

Edwards Lifesciences (NYSE:EW) last released its quarterly earnings results on Tuesday, February 11th. The medical research company reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.04. Edwards Lifesciences had a net margin of 72.93% and a return on equity of 19.40%. As a group, analysts predict that Edwards Lifesciences Co. will post 2.45 earnings per share for the current year.

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.