Edwards Lifesciences Co. (NYSE:EW) CFO Sells $852,300.00 in Stock

Edwards Lifesciences Co. (NYSE:EW) CFO Scott B. Ullem sold 11,250 shares of Edwards Lifesciences stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $75.76, for a total value of $852,300.00. Following the completion of the transaction, the chief financial officer now directly owns 30,561 shares of the company’s stock, valued at $2,315,301.36. This represents a 26.91 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Edwards Lifesciences Price Performance

Shares of EW opened at $76.23 on Friday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.89 and a current ratio of 3.46. The stock has a 50 day simple moving average of $72.67 and a 200 day simple moving average of $69.50. Edwards Lifesciences Co. has a 52-week low of $58.93 and a 52-week high of $96.12. The firm has a market capitalization of $44.96 billion, a PE ratio of 11.00, a P/E/G ratio of 3.64 and a beta of 1.10.

Edwards Lifesciences (NYSE:EW) last issued its quarterly earnings data on Tuesday, February 11th. The medical research company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.04. Edwards Lifesciences had a return on equity of 20.76% and a net margin of 70.82%. Sell-side analysts predict that Edwards Lifesciences Co. will post 2.56 EPS for the current fiscal year.

Hedge Funds Weigh In On Edwards Lifesciences

Several institutional investors and hedge funds have recently modified their holdings of EW. Harbor Capital Advisors Inc. boosted its position in Edwards Lifesciences by 2.5% during the 4th quarter. Harbor Capital Advisors Inc. now owns 11,135 shares of the medical research company’s stock worth $824,000 after acquiring an additional 273 shares during the last quarter. Nordea Investment Management AB boosted its position in Edwards Lifesciences by 34.6% during the 4th quarter. Nordea Investment Management AB now owns 4,057,013 shares of the medical research company’s stock worth $301,355,000 after acquiring an additional 1,043,484 shares during the last quarter. WELLCOME TRUST LTD THE as trustee of the WELLCOME TRUST boosted its position in Edwards Lifesciences by 6.7% during the 4th quarter. WELLCOME TRUST LTD THE as trustee of the WELLCOME TRUST now owns 4,800,000 shares of the medical research company’s stock worth $355,344,000 after acquiring an additional 300,000 shares during the last quarter. Sivik Global Healthcare LLC acquired a new position in Edwards Lifesciences during the 4th quarter worth approximately $3,702,000. Finally, Avanza Fonder AB acquired a new position in Edwards Lifesciences during the 4th quarter worth approximately $4,845,000. 79.46% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently issued reports on EW. The Goldman Sachs Group lifted their price target on Edwards Lifesciences from $81.00 to $90.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Daiwa America cut Edwards Lifesciences from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 30th. Evercore ISI cut their price target on Edwards Lifesciences from $75.00 to $73.00 and set an “in-line” rating for the company in a report on Wednesday. Barclays boosted their price objective on Edwards Lifesciences from $88.00 to $90.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, Piper Sandler boosted their price objective on Edwards Lifesciences from $70.00 to $73.00 and gave the stock a “neutral” rating in a report on Wednesday. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $79.95.

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.