Edwards Lifesciences Co. (NYSE:EW) Short Interest Down 14.5% in October

Edwards Lifesciences Co. (NYSE:EW) was the recipient of a significant drop in short interest in October. As of October 15th, there was short interest totalling 8,220,000 shares, a drop of 14.5% from the September 30th total of 9,610,000 shares. Currently, 1.4% of the company’s stock are sold short. Based on an average daily trading volume, of 7,090,000 shares, the short-interest ratio is presently 1.2 days.

Insider Buying and Selling at Edwards Lifesciences

In other Edwards Lifesciences news, VP Daveen Chopra sold 1,250 shares of Edwards Lifesciences stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $69.95, for a total transaction of $87,437.50. Following the completion of the transaction, the vice president now owns 29,333 shares in the company, valued at approximately $2,051,843.35. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Edwards Lifesciences news, VP Daveen Chopra sold 1,250 shares of the firm’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $69.95, for a total transaction of $87,437.50. Following the transaction, the vice president now directly owns 29,333 shares in the company, valued at approximately $2,051,843.35. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Donald E. Bobo, Jr. sold 5,000 shares of the company’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $66.77, for a total transaction of $333,850.00. Following the completion of the sale, the vice president now owns 46,936 shares of the company’s stock, valued at approximately $3,133,916.72. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 16,250 shares of company stock valued at $1,099,238. Corporate insiders own 1.29% of the company’s stock.

Institutional Trading of Edwards Lifesciences

Institutional investors and hedge funds have recently made changes to their positions in the stock. Kornitzer Capital Management Inc. KS grew its position in Edwards Lifesciences by 30.6% during the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 119,535 shares of the medical research company’s stock worth $7,888,000 after acquiring an additional 27,985 shares during the last quarter. Malaga Cove Capital LLC lifted its holdings in shares of Edwards Lifesciences by 42.5% during the third quarter. Malaga Cove Capital LLC now owns 9,837 shares of the medical research company’s stock valued at $649,000 after purchasing an additional 2,934 shares during the last quarter. Concurrent Investment Advisors LLC grew its stake in shares of Edwards Lifesciences by 3.4% in the third quarter. Concurrent Investment Advisors LLC now owns 19,187 shares of the medical research company’s stock worth $1,266,000 after acquiring an additional 636 shares during the last quarter. Canal Insurance CO purchased a new stake in Edwards Lifesciences during the 3rd quarter valued at about $660,000. Finally, Radnor Capital Management LLC grew its holdings in shares of Edwards Lifesciences by 358.8% during the third quarter. Radnor Capital Management LLC now owns 23,784 shares of the medical research company’s stock valued at $1,570,000 after buying an additional 18,600 shares during the last quarter. Hedge funds and other institutional investors own 79.46% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on EW shares. Daiwa America upgraded Edwards Lifesciences to a “strong-buy” rating in a report on Wednesday, July 31st. Bank of America lowered shares of Edwards Lifesciences from a “buy” rating to a “neutral” rating and reduced their price target for the company from $105.00 to $75.00 in a research report on Thursday, July 25th. Robert W. Baird lowered their price objective on shares of Edwards Lifesciences from $73.00 to $68.00 and set a “neutral” rating on the stock in a research report on Friday, October 25th. JPMorgan Chase & Co. increased their target price on shares of Edwards Lifesciences from $72.00 to $78.00 and gave the company a “neutral” rating in a research report on Friday, October 25th. Finally, TD Cowen cut shares of Edwards Lifesciences from a “buy” rating to a “hold” rating and lowered their price target for the stock from $100.00 to $70.00 in a report on Thursday, July 25th. Sixteen investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $75.67.

Edwards Lifesciences Price Performance

Shares of EW stock traded down $1.61 on Thursday, reaching $67.02. The company’s stock had a trading volume of 6,306,014 shares, compared to its average volume of 4,648,499. The company has a market capitalization of $40.39 billion, a P/E ratio of 28.89, a PEG ratio of 3.00 and a beta of 1.13. Edwards Lifesciences has a 12-month low of $58.93 and a 12-month high of $96.12. The stock’s 50 day simple moving average is $67.98 and its 200-day simple moving average is $77.85. The company has a quick ratio of 2.87, a current ratio of 3.71 and a debt-to-equity ratio of 0.08.

Edwards Lifesciences (NYSE:EW) last posted its quarterly earnings data on Thursday, October 24th. The medical research company reported $0.67 earnings per share for the quarter, hitting the consensus estimate of $0.67. The company had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.57 billion. Edwards Lifesciences had a net margin of 24.55% and a return on equity of 22.35%. Edwards Lifesciences’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.59 earnings per share. As a group, equities analysts predict that Edwards Lifesciences will post 2.61 earnings per share for the current fiscal 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.