Edwards Lifesciences Co. (NYSE:EW) Holdings Cut by Penobscot Investment Management Company Inc.

Penobscot Investment Management Company Inc. reduced its stake in shares of Edwards Lifesciences Co. (NYSE:EW) by 7.7% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 14,998 shares of the medical research company’s stock after selling 1,250 shares during the period. Penobscot Investment Management Company Inc.’s holdings in Edwards Lifesciences were worth $1,110,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Harbor Capital Advisors Inc. grew its position in Edwards Lifesciences by 2.5% in the fourth quarter. Harbor Capital Advisors Inc. now owns 11,135 shares of the medical research company’s stock worth $824,000 after acquiring an additional 273 shares in the last quarter. Nordea Investment Management AB lifted its stake in shares of Edwards Lifesciences by 34.6% in the 4th quarter. Nordea Investment Management AB now owns 4,057,013 shares of the medical research company’s stock valued at $301,355,000 after purchasing an additional 1,043,484 shares during the last quarter. WELLCOME TRUST LTD THE as trustee of the WELLCOME TRUST boosted its holdings in Edwards Lifesciences by 6.7% in the fourth quarter. WELLCOME TRUST LTD THE as trustee of the WELLCOME TRUST now owns 4,800,000 shares of the medical research company’s stock worth $355,344,000 after purchasing an additional 300,000 shares in the last quarter. Sivik Global Healthcare LLC bought a new position in Edwards Lifesciences during the fourth quarter valued at about $3,702,000. Finally, Avanza Fonder AB acquired a new stake in shares of Edwards Lifesciences in the fourth quarter worth about $4,845,000. 79.46% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Edwards Lifesciences

In related news, CFO Scott B. Ullem sold 11,250 shares of the firm’s stock in a transaction that occurred on Wednesday, March 26th. The shares were sold at an average price of $70.87, for a total value of $797,287.50. Following the completion of the sale, the chief financial officer now owns 30,387 shares of the company’s stock, valued at $2,153,526.69. This trade represents a 27.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Steven R. Loranger sold 5,739 shares of the company’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $76.42, for a total value of $438,574.38. Following the transaction, the director now directly owns 60,372 shares in the company, valued at approximately $4,613,628.24. This represents a 8.68 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 62,553 shares of company stock valued at $4,513,064 over the last ninety days. 1.29% of the stock is owned by insiders.

Edwards Lifesciences Trading Down 0.2 %

Shares of EW opened at $71.12 on Thursday. Edwards Lifesciences Co. has a 1 year low of $58.93 and a 1 year high of $96.12. The company has a current ratio of 3.46, a quick ratio of 2.89 and a debt-to-equity ratio of 0.06. The stock has a 50 day simple moving average of $71.45 and a 200-day simple moving average of $70.45. The stock has a market cap of $41.81 billion, a PE ratio of 10.20, a PEG ratio of 4.82 and a beta of 1.12.

Edwards Lifesciences (NYSE:EW) last announced its earnings results on Tuesday, February 11th. The medical research company reported $0.59 EPS for the quarter, topping 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%. On average, sell-side analysts predict that Edwards Lifesciences Co. will post 2.45 EPS for the current fiscal year.

Wall Street Analyst Weigh In

EW has been the subject of a number of recent analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and set a $85.00 target price on shares of Edwards Lifesciences in a research report on Wednesday, February 12th. Morgan Stanley raised their target price on shares of Edwards Lifesciences from $70.00 to $75.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 12th. Stifel Nicolaus raised shares of Edwards Lifesciences from a “hold” rating to a “buy” rating and boosted their target price for the stock from $75.00 to $90.00 in a research report on Thursday, January 30th. Canaccord Genuity Group raised their price target on Edwards Lifesciences from $68.00 to $71.00 and gave the company a “hold” rating in a research report on Thursday, February 13th. Finally, Truist Financial reissued a “hold” rating and set a $78.00 price objective (up previously from $70.00) on shares of Edwards Lifesciences in a research report on Thursday, December 5th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, Edwards Lifesciences currently has a consensus rating of “Hold” and an average target price 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.