Pinnacle Financial Partners Inc Trims Stock Position in Edwards Lifesciences Co. (NYSE:EW)

Pinnacle Financial Partners Inc cut its position in shares of Edwards Lifesciences Co. (NYSE:EW) by 52.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 730 shares of the medical research company’s stock after selling 800 shares during the period. Pinnacle Financial Partners Inc’s holdings in Edwards Lifesciences were worth $48,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Park Avenue Securities LLC increased its position in shares of Edwards Lifesciences by 0.5% during the second quarter. Park Avenue Securities LLC now owns 23,484 shares of the medical research company’s stock valued at $2,169,000 after acquiring an additional 108 shares during the last quarter. City State Bank increased its position in shares of Edwards Lifesciences by 16.5% during the second quarter. City State Bank now owns 917 shares of the medical research company’s stock valued at $85,000 after acquiring an additional 130 shares during the last quarter. Stableford Capital II LLC increased its position in shares of Edwards Lifesciences by 2.7% during the second quarter. Stableford Capital II LLC now owns 6,104 shares of the medical research company’s stock valued at $533,000 after acquiring an additional 159 shares during the last quarter. Purus Wealth Management LLC increased its position in shares of Edwards Lifesciences by 5.2% during the second quarter. Purus Wealth Management LLC now owns 3,212 shares of the medical research company’s stock valued at $297,000 after acquiring an additional 160 shares during the last quarter. Finally, Busey Bank increased its position in shares of Edwards Lifesciences by 1.9% during the second quarter. Busey Bank now owns 8,838 shares of the medical research company’s stock valued at $816,000 after acquiring an additional 165 shares during the last quarter. 79.46% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Edwards Lifesciences

In related news, VP Donald E. Bobo, Jr. sold 5,000 shares of the company’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $69.51, for a total value of $347,550.00. Following the completion of the sale, the vice president now owns 46,936 shares in the company, valued at $3,262,521.36. This represents a 9.63 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Daveen Chopra sold 1,250 shares of the company’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $69.95, for a total transaction of $87,437.50. Following the completion of the sale, the vice president now owns 29,333 shares of the company’s stock, valued at approximately $2,051,843.35. This trade represents a 4.09 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 41,250 shares of company stock worth $2,744,438. 1.29% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on EW. Barclays dropped their price target on shares of Edwards Lifesciences from $90.00 to $80.00 and set an “overweight” rating for the company in a research report on Monday, September 9th. Canaccord Genuity Group dropped their price target on shares of Edwards Lifesciences from $66.00 to $63.00 and set a “hold” rating for the company in a research report on Friday, October 25th. Wells Fargo & Company dropped their price objective on shares of Edwards Lifesciences from $90.00 to $80.00 and set an “overweight” rating for the company in a report on Monday, September 9th. Royal Bank of Canada dropped their price objective on shares of Edwards Lifesciences from $85.00 to $75.00 and set an “outperform” rating for the company in a report on Tuesday, October 8th. Finally, The Goldman Sachs Group dropped their price objective on shares of Edwards Lifesciences from $107.00 to $91.00 and set a “buy” rating for the company in a report on Friday, July 26th. Seventeen investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $75.67.

Edwards Lifesciences Stock Up 2.4 %

Shares of NYSE:EW opened at $67.76 on Friday. The company has a market capitalization of $39.96 billion, a PE ratio of 9.78, a P/E/G ratio of 3.74 and a beta of 1.12. The company has a current ratio of 3.46, a quick ratio of 2.89 and a debt-to-equity ratio of 0.06. Edwards Lifesciences Co. has a twelve month low of $58.93 and a twelve month high of $96.12. The firm has a 50 day simple moving average of $67.42 and a 200-day simple moving average of $76.37.

Edwards Lifesciences (NYSE:EW) last issued its quarterly earnings data on Thursday, October 24th. The medical research company reported $0.67 earnings per share for the quarter, hitting the consensus estimate of $0.67. The business had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.57 billion. Edwards Lifesciences had a net margin of 70.82% and a return on equity of 20.76%. The company’s revenue was up 8.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.59 EPS. On average, equities analysts predict that Edwards Lifesciences Co. will post 2.57 EPS for the current fiscal year.

Edwards Lifesciences 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.