Edwards Lifesciences Co. (NYSE:EW) VP Sells $347,550.00 in Stock

Edwards Lifesciences Co. (NYSE:EW) VP Donald E. Bobo, Jr. sold 5,000 shares of the stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $69.51, for a total transaction of $347,550.00. Following the completion of the transaction, the vice president now owns 46,936 shares in the company, valued at $3,262,521.36. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Edwards Lifesciences Stock Performance

Shares of NYSE EW traded down $0.73 during midday trading on Tuesday, reaching $68.90. The company had a trading volume of 4,021,755 shares, compared to its average volume of 4,580,660. The company has a current ratio of 3.71, a quick ratio of 2.87 and a debt-to-equity ratio of 0.08. The business’s 50-day simple moving average is $67.31 and its 200 day simple moving average is $79.79. Edwards Lifesciences Co. has a 1 year low of $58.93 and a 1 year high of $96.12. The stock has a market cap of $41.52 billion, a P/E ratio of 29.72, a P/E/G ratio of 2.83 and a beta of 1.13.

Edwards Lifesciences (NYSE:EW) last released its quarterly earnings results on Wednesday, July 24th. The medical research company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.01. Edwards Lifesciences had a net margin of 24.55% and a return on equity of 22.35%. The business had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.65 billion. During the same period in the previous year, the firm earned $0.66 EPS. The business’s revenue was up 6.7% on a year-over-year basis. On average, analysts forecast that Edwards Lifesciences Co. will post 2.71 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Edwards Lifesciences

A number of hedge funds have recently made changes to their positions in the business. Richardson Financial Services Inc. acquired a new stake in shares of Edwards Lifesciences during the fourth quarter valued at approximately $64,000. HighPoint Advisor Group LLC acquired a new position in shares of Edwards Lifesciences in the 4th quarter valued at $955,000. Nomura Holdings Inc. bought a new stake in Edwards Lifesciences during the 4th quarter worth about $933,000. Cullen Investment Group LTD. grew its holdings in Edwards Lifesciences by 6.5% during the 1st quarter. Cullen Investment Group LTD. now owns 19,259 shares of the medical research company’s stock worth $1,816,000 after acquiring an additional 1,171 shares during the last quarter. Finally, CWM LLC grew its holdings in Edwards Lifesciences by 45.9% during the 1st quarter. CWM LLC now owns 25,519 shares of the medical research company’s stock worth $2,439,000 after acquiring an additional 8,026 shares during the last quarter. Hedge funds and other institutional investors own 79.46% of the company’s stock.

Analyst Upgrades and Downgrades

EW has been the subject of a number of analyst reports. Royal Bank of Canada reduced their price objective on shares of Edwards Lifesciences from $85.00 to $75.00 and set an “outperform” rating for the company in a research note on Tuesday, October 8th. Stifel Nicolaus dropped their price objective on shares of Edwards Lifesciences from $85.00 to $70.00 and set a “hold” rating for the company in a research note on Thursday, July 25th. The Goldman Sachs Group decreased 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. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Edwards Lifesciences from $103.00 to $85.00 and set a “buy” rating for the company in a report on Thursday, July 25th. Finally, Piper Sandler reduced their price target on shares of Edwards Lifesciences from $88.00 to $73.00 and set a “neutral” rating for the company in a report on Thursday, July 25th. Seventeen analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $75.77.

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.