Pinnacle Bancorp Inc. Sells 132 Shares of Edwards Lifesciences Co. (NYSE:EW)

Pinnacle Bancorp Inc. trimmed its position in Edwards Lifesciences Co. (NYSE:EW) by 13.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 827 shares of the medical research company’s stock after selling 132 shares during the period. Pinnacle Bancorp Inc.’s holdings in Edwards Lifesciences were worth $79,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Nordea Investment Management AB grew its holdings in shares of Edwards Lifesciences by 1,224.1% in the fourth quarter. Nordea Investment Management AB now owns 1,610,412 shares of the medical research company’s stock worth $123,261,000 after purchasing an additional 1,488,791 shares during the last quarter. Telos Capital Management Inc. increased its position in shares of Edwards Lifesciences by 158.2% in the fourth quarter. Telos Capital Management Inc. now owns 91,405 shares of the medical research company’s stock valued at $6,970,000 after acquiring an additional 56,000 shares during the period. Arlington Trust Co LLC raised its stake in shares of Edwards Lifesciences by 5,092.4% during the fourth quarter. Arlington Trust Co LLC now owns 12,306 shares of the medical research company’s stock valued at $938,000 after acquiring an additional 12,069 shares during the last quarter. HealthInvest Partners AB purchased a new stake in shares of Edwards Lifesciences during the fourth quarter worth about $1,587,000. Finally, Ninety One UK Ltd grew its stake in shares of Edwards Lifesciences by 2,740.5% in the fourth quarter. Ninety One UK Ltd now owns 498,029 shares of the medical research company’s stock worth $37,975,000 after purchasing an additional 480,496 shares during the last quarter. 79.46% of the stock is currently owned by hedge funds and other institutional investors.

Edwards Lifesciences Price Performance

NYSE EW opened at $92.42 on Friday. The company has a current ratio of 3.75, a quick ratio of 2.67 and a debt-to-equity ratio of 0.08. Edwards Lifesciences Co. has a 12 month low of $60.57 and a 12 month high of $96.12. The company’s 50 day moving average is $87.85 and its two-hundred day moving average is $85.21. The stock has a market cap of $55.69 billion, a price-to-earnings ratio of 39.84, a PEG ratio of 3.41 and a beta of 1.11.

Edwards Lifesciences (NYSE:EW) last posted its quarterly earnings results on Thursday, April 25th. The medical research company reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.02. The business had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.58 billion. Edwards Lifesciences had a return on equity of 22.86% and a net margin of 23.01%. As a group, research analysts anticipate that Edwards Lifesciences Co. will post 2.77 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Bank of America upgraded Edwards Lifesciences from a “neutral” rating to a “buy” rating in a report on Thursday, March 7th. Piper Sandler boosted their price objective on shares of Edwards Lifesciences from $85.00 to $88.00 and gave the company a “neutral” rating in a research report on Friday, April 26th. Evercore ISI decreased their price objective on shares of Edwards Lifesciences from $92.00 to $89.00 and set an “in-line” rating for the company in a report on Friday, April 26th. Oppenheimer lifted their target price on shares of Edwards Lifesciences from $93.00 to $100.00 and gave the company an “outperform” rating in a research note on Monday, March 18th. Finally, Citigroup raised shares of Edwards Lifesciences from a “neutral” rating to a “buy” rating and increased their price target for the stock from $98.00 to $105.00 in a research note on Wednesday, May 22nd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Edwards Lifesciences presently has a consensus rating of “Moderate Buy” and an average target price of $95.06.

Insider Activity

In other Edwards Lifesciences news, Director Michael A. Mussallem sold 29,350 shares of the business’s stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $92.42, for a total value of $2,712,527.00. Following the sale, the director now owns 4,486 shares in the company, valued at approximately $414,596.12. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Edwards Lifesciences news, Director Michael A. Mussallem sold 29,350 shares of Edwards Lifesciences stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $92.42, for a total value of $2,712,527.00. Following the sale, the director now owns 4,486 shares of the company’s stock, valued at approximately $414,596.12. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Bernard J. Zovighian bought 580 shares of the stock in a transaction dated Monday, May 6th. The shares were purchased at an average price of $85.74 per share, with a total value of $49,729.20. Following the completion of the transaction, the chief executive officer now directly owns 3,268 shares in the company, valued at approximately $280,198.32. The disclosure for this purchase can be found here. Insiders have sold a total of 127,104 shares of company stock worth $11,267,464 over the last quarter. Insiders own 1.29% of the company’s stock.

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.