Patten & Patten Inc. TN Decreases Stock Holdings in Edwards Lifesciences Corporation $EW

Key Points

• Patten & Patten Inc. TN has reduced its holdings in Edwards Lifesciences Corporation by 9.9%, owning 133,993 shares valued at approximately $10.48 million after selling 14,768 shares in the second quarter.
• Various institutional investors have adjusted their stakes as well, with the overall institutional ownership reaching 79.46% of the company's stock.
• Analysts have raised their price targets for Edwards Lifesciences, with estimates now ranging up to $100.00 from different firms, reflecting a generally positive sentiment about the company's future performance.

Patten & Patten Inc. TN trimmed its holdings in shares of Edwards Lifesciences Corporation (NYSE:EW - Free Report) by 9.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 133,993 shares of the medical research company's stock after selling 14,768 shares during the quarter. Patten & Patten Inc. TN's holdings in Edwards Lifesciences were worth $10,480,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Allspring Global Investments Holdings LLC grew its holdings in Edwards Lifesciences by 0.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 30,195 shares of the medical research company's stock valued at $2,170,000 after purchasing an additional 145 shares during the period. Pacific Capital Partners Ltd bought a new position in Edwards Lifesciences during the second quarter valued at $1,760,000. Czech National Bank grew its holdings in Edwards Lifesciences by 5.8% during the second quarter. Czech National Bank now owns 143,385 shares of the medical research company's stock valued at $11,214,000 after purchasing an additional 7,917 shares during the period. Dynamic Advisor Solutions LLC grew its holdings in Edwards Lifesciences by 2.4% during the first quarter. Dynamic Advisor Solutions LLC now owns 15,506 shares of the medical research company's stock valued at $1,124,000 after purchasing an additional 370 shares during the period. Finally, Wealth Enhancement Advisory Services LLC grew its holdings in Edwards Lifesciences by 13.5% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 77,016 shares of the medical research company's stock valued at $5,582,000 after purchasing an additional 9,188 shares during the period. 79.46% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

EW has been the subject of several research reports. Wells Fargo & Company increased their price objective on Edwards Lifesciences from $84.00 to $88.00 and gave the company an "overweight" rating in a report on Thursday, August 7th. Piper Sandler increased their price objective on Edwards Lifesciences from $83.00 to $90.00 and gave the company an "overweight" rating in a report on Friday, July 25th. The Goldman Sachs Group reissued a "buy" rating on shares of Edwards Lifesciences in a report on Friday, July 25th. BTIG Research raised Edwards Lifesciences from a "neutral" rating to a "buy" rating and set a $100.00 price objective for the company in a report on Tuesday, July 29th. Finally, Canaccord Genuity Group raised their price target on Edwards Lifesciences from $75.00 to $81.00 and gave the stock a "hold" rating in a report on Friday, July 25th. Three investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $87.06.

Insider Buying and Selling at Edwards Lifesciences

In related news, insider Larry L. Wood sold 8,950 shares of Edwards Lifesciences stock in a transaction on Monday, August 18th. The stock was sold at an average price of $78.06, for a total transaction of $698,637.00. Following the completion of the sale, the insider owned 206,900 shares of the company's stock, valued at approximately $16,150,614. This trade represents a 4.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Daniel J. Lippis sold 4,114 shares of Edwards Lifesciences stock in a transaction on Monday, July 28th. The shares were sold at an average price of $79.46, for a total value of $326,898.44. Following the sale, the vice president directly owned 22,002 shares of the company's stock, valued at $1,748,278.92. This represents a 15.75% decrease in their position. The disclosure for this sale can be found here. 1.29% of the stock is currently owned by company insiders.

Edwards Lifesciences Price Performance

Edwards Lifesciences stock opened at $72.92 on Thursday. Edwards Lifesciences Corporation has a one year low of $64.89 and a one year high of $83.00. The business has a fifty day moving average price of $77.72 and a 200-day moving average price of $76.14. 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 firm has a market capitalization of $42.81 billion, a P/E ratio of 10.49, a PEG ratio of 3.52 and a beta of 1.05.

Edwards Lifesciences (NYSE:EW - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The medical research company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.05. The company had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.49 billion. Edwards Lifesciences had a return on equity of 15.01% and a net margin of 72.96%.The firm's quarterly revenue was up 11.9% on a year-over-year basis. During the same quarter last year, the company earned $0.70 earnings per share. Edwards Lifesciences has set its Q3 2025 guidance at 0.540-0.60 EPS. FY 2025 guidance at 2.400-2.500 EPS. As a group, equities research analysts forecast that Edwards Lifesciences Corporation will post 2.45 EPS for the current 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.

Want to see what other hedge funds are holding EW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Edwards Lifesciences Corporation (NYSE:EW - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.