Pittenger & Anderson Inc. Invests $520,000 in Edwards Lifesciences Co. (NYSE:EW)

Pittenger & Anderson Inc. acquired a new position in Edwards Lifesciences Co. (NYSE:EW) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 6,818 shares of the medical research company’s stock, valued at approximately $520,000.

Other large investors have also added to or reduced their stakes in the company. Turtle Creek Wealth Advisors LLC bought a new stake in Edwards Lifesciences during the 4th quarter worth about $34,000. Operose Advisors LLC grew its stake in Edwards Lifesciences by 247.0% in the third quarter. Operose Advisors LLC now owns 635 shares of the medical research company’s stock valued at $44,000 after purchasing an additional 452 shares in the last quarter. SRS Capital Advisors Inc. increased its position in shares of Edwards Lifesciences by 292.6% during the 3rd quarter. SRS Capital Advisors Inc. now owns 636 shares of the medical research company’s stock worth $44,000 after purchasing an additional 474 shares during the last quarter. NBC Securities Inc. bought a new stake in shares of Edwards Lifesciences during the 3rd quarter worth approximately $52,000. Finally, ORG Partners LLC acquired a new stake in shares of Edwards Lifesciences in the 3rd quarter valued at approximately $66,000. Institutional investors and hedge funds own 79.46% of the company’s stock.

Edwards Lifesciences Price Performance

NYSE:EW traded down $0.60 during trading hours on Thursday, reaching $88.01. 4,167,118 shares of the company were exchanged, compared to its average volume of 3,828,266. The company has a market capitalization of $52.98 billion, a P/E ratio of 38.53, a P/E/G ratio of 4.35 and a beta of 1.05. The company has a debt-to-equity ratio of 0.09, a current ratio of 3.38 and a quick ratio of 2.40. The business has a 50 day moving average of $90.23 and a 200 day moving average of $78.69. Edwards Lifesciences Co. has a 1-year low of $60.57 and a 1-year high of $96.12.

Edwards Lifesciences (NYSE:EW) last posted its quarterly earnings results on Tuesday, February 6th. The medical research company reported $0.64 EPS for the quarter, meeting analysts’ consensus estimates of $0.64. The business had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.50 billion. Edwards Lifesciences had a return on equity of 23.56% and a net margin of 23.35%. Edwards Lifesciences’s revenue for the quarter was up 13.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.64 earnings per share. Research analysts forecast that Edwards Lifesciences Co. will post 2.76 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on EW shares. Morgan Stanley boosted their target price on shares of Edwards Lifesciences from $95.00 to $103.00 and gave the stock an “overweight” rating in a report on Thursday, March 21st. Citigroup upped their target price on shares of Edwards Lifesciences from $90.00 to $98.00 and gave the company a “neutral” rating in a report on Wednesday, April 3rd. Royal Bank of Canada boosted their price target on Edwards Lifesciences from $95.00 to $101.00 and gave the stock an “outperform” rating in a research report on Monday, April 15th. Oppenheimer raised their price objective on Edwards Lifesciences from $93.00 to $100.00 and gave the company an “outperform” rating in a research report on Monday, March 18th. Finally, Wells Fargo & Company upgraded Edwards Lifesciences from an “equal weight” rating to an “overweight” rating and set a $94.00 price target on the stock in a research note on Friday, February 2nd. One analyst has rated the stock with a sell rating, seven have given a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, Edwards Lifesciences has an average rating of “Moderate Buy” and a consensus target price of $91.73.

Insider Activity at Edwards Lifesciences

In other Edwards Lifesciences news, CFO Scott B. Ullem sold 7,255 shares of the firm’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $78.29, for a total value of $567,993.95. Following the sale, the chief financial officer now owns 19,248 shares of the company’s stock, valued at approximately $1,506,925.92. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CFO Scott B. Ullem sold 7,255 shares of the stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $78.29, for a total value of $567,993.95. Following the completion of the transaction, the chief financial officer now owns 19,248 shares of the company’s stock, valued at $1,506,925.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Jean-Luc M. Lemercier sold 14,400 shares of the company’s stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $92.32, for a total transaction of $1,329,408.00. Following the transaction, the vice president now owns 173,849 shares of the company’s stock, valued at $16,049,739.68. The disclosure for this sale can be found here. Insiders have sold 194,004 shares of company stock valued at $17,166,254 over the last three months. 1.29% of the stock is owned by insiders.

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.