Insider Selling: Edwards Lifesciences Co. (NYSE:EW) CEO Sells 5,980 Shares of Stock

Edwards Lifesciences Co. (NYSE:EW) CEO Bernard J. Zovighian sold 5,980 shares of Edwards Lifesciences stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $74.91, for a total transaction of $447,961.80. Following the completion of the sale, the chief executive officer now directly owns 58,284 shares in the company, valued at $4,366,054.44. This trade represents a 9.31 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Edwards Lifesciences Stock Down 0.2 %

EW stock opened at $74.94 on Wednesday. Edwards Lifesciences Co. has a 1-year low of $58.93 and a 1-year high of $95.25. The stock has a market cap of $44.05 billion, a price-to-earnings ratio of 10.75, a price-to-earnings-growth ratio of 4.82 and a beta of 1.12. The company has a current ratio of 3.46, a quick ratio of 2.89 and a debt-to-equity ratio of 0.06. The company’s 50 day moving average is $71.30 and its 200 day moving average is $71.41.

Edwards Lifesciences (NYSE:EW) last posted its quarterly earnings data on Wednesday, April 23rd. The medical research company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.04. Edwards Lifesciences had a net margin of 72.93% and a return on equity of 19.40%. The firm had revenue of $1.41 billion for the quarter, compared to analysts’ expectations of $1.40 billion. During the same quarter last year, the company posted $0.66 EPS. The business’s quarterly revenue was up 6.2% on a year-over-year basis. Sell-side analysts predict that Edwards Lifesciences Co. will post 2.45 EPS for the current fiscal year.

Hedge Funds Weigh In On Edwards Lifesciences

Institutional investors have recently modified their holdings of the company. Crowley Wealth Management Inc. purchased a new stake in Edwards Lifesciences in the fourth quarter worth approximately $26,000. Vega Investment Solutions purchased a new stake in shares of Edwards Lifesciences in the 4th quarter valued at $27,000. Millstone Evans Group LLC bought a new position in shares of Edwards Lifesciences during the 4th quarter valued at $29,000. Global X Japan Co. Ltd. lifted its stake in Edwards Lifesciences by 116.1% in the first quarter. Global X Japan Co. Ltd. now owns 402 shares of the medical research company’s stock worth $29,000 after purchasing an additional 216 shares during the last quarter. Finally, Tradewinds Capital Management LLC boosted its position in Edwards Lifesciences by 102.5% during the first quarter. Tradewinds Capital Management LLC now owns 405 shares of the medical research company’s stock valued at $29,000 after buying an additional 205 shares during the period. 79.46% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Piper Sandler raised Edwards Lifesciences from a “neutral” rating to an “overweight” rating and upped their price target for the company from $73.00 to $80.00 in a research report on Thursday, April 24th. Canaccord Genuity Group upped their price objective on shares of Edwards Lifesciences from $71.00 to $75.00 and gave the company a “hold” rating in a report on Friday, April 25th. Barclays lifted their target price on shares of Edwards Lifesciences from $88.00 to $90.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Stifel Nicolaus upgraded shares of Edwards Lifesciences from a “hold” rating to a “buy” rating and upped their price target for the company from $75.00 to $90.00 in a research note on Thursday, January 30th. Finally, Morgan Stanley lifted their price objective on shares of Edwards Lifesciences from $70.00 to $75.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $79.45.

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.