Patten & Patten Inc. TN Sells 10,724 Shares of Edwards Lifesciences Co. (NYSE:EW)

Patten & Patten Inc. TN lessened its stake in shares of Edwards Lifesciences Co. (NYSE:EW) by 6.5% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 154,180 shares of the medical research company’s stock after selling 10,724 shares during the period. Patten & Patten Inc. TN’s holdings in Edwards Lifesciences were worth $11,414,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. FSA Wealth Management LLC bought a new stake in shares of Edwards Lifesciences during the third quarter worth $30,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Edwards Lifesciences during the fourth quarter worth $30,000. Prospera Private Wealth LLC bought a new stake in shares of Edwards Lifesciences during the third quarter worth $32,000. Avior Wealth Management LLC grew its stake in shares of Edwards Lifesciences by 138.7% during the third quarter. Avior Wealth Management LLC now owns 530 shares of the medical research company’s stock worth $35,000 after buying an additional 308 shares during the last quarter. Finally, Roble Belko & Company Inc bought a new stake in shares of Edwards Lifesciences during the fourth quarter worth $46,000. Institutional investors own 79.46% of the company’s stock.

Insider Buying and Selling

In related news, CFO Scott B. Ullem sold 11,250 shares of the company’s stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $75.76, for a total value of $852,300.00. Following the sale, the chief financial officer now owns 30,561 shares in the company, valued at $2,315,301.36. This represents a 26.91 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Donald E. Bobo, Jr. sold 9,500 shares of the company’s stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $67.96, for a total transaction of $645,620.00. Following the completion of the sale, the vice president now owns 46,936 shares in the company, valued at $3,189,770.56. This represents a 16.83 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 53,803 shares of company stock worth $3,900,976 in the last quarter. Insiders own 1.29% of the company’s stock.

Edwards Lifesciences Price Performance

Shares of NYSE EW opened at $69.37 on Friday. The firm’s 50-day moving average price is $71.74 and its 200-day moving average price is $70.33. Edwards Lifesciences Co. has a 1-year low of $58.93 and a 1-year high of $96.12. The firm has a market capitalization of $40.78 billion, a P/E ratio of 9.95, a P/E/G ratio of 4.82 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 (NYSE:EW) last announced its quarterly earnings data on Tuesday, February 11th. The medical research company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.04. Edwards Lifesciences had a net margin of 72.93% and a return on equity of 19.40%. Equities research analysts anticipate that Edwards Lifesciences Co. will post 2.45 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts recently weighed in on EW shares. Citigroup boosted their price objective on shares of Edwards Lifesciences from $81.00 to $83.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Truist Financial reissued a “hold” rating and issued a $78.00 price objective (up previously from $70.00) on shares of Edwards Lifesciences in a research note on Thursday, December 5th. Stifel Nicolaus raised shares of Edwards Lifesciences from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $75.00 to $90.00 in a research note on Thursday, January 30th. Piper Sandler boosted their price objective on shares of Edwards Lifesciences from $70.00 to $73.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 12th. Finally, Canaccord Genuity Group boosted their price objective on shares of Edwards Lifesciences from $68.00 to $71.00 and gave the stock a “hold” rating in a research note on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $79.95.

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.