Edwards Lifesciences (NYSE:EW) VP Sells $64,530.75 in Stock

Edwards Lifesciences Corporation (NYSE:EW) VP Daniel Lippis sold 619 shares of the company’s stock in a transaction that occurred on Tuesday, November 10th. The stock was sold at an average price of $104.25, for a total value of $64,530.75. Following the completion of the transaction, the vice president owned 40,034 shares of the company’s stock, valued at $4,173,544.50. The trade was a 1.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Edwards Lifesciences Price Performance

EW traded down $0.74 during trading on Tuesday, reaching $103.97. 3,754,341 shares of the company traded hands, compared to its average volume of 4,541,103. The company has a market cap of $59.86 billion, a P/E ratio of 58.74, a PEG ratio of 2.60 and a beta of 0.85. The company has a debt-to-equity ratio of 0.06, a quick ratio of 3.77 and a current ratio of 4.52. Edwards Lifesciences Corporation has a 12-month low of $74.66 and a 12-month high of $105.37. The firm has a fifty day simple moving average of $89.21 and a 200 day simple moving average of $85.88.

Edwards Lifesciences (NYSE:EW) last released its earnings results on Wednesday, November 4th. The medical research company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.74 by $0.06. Edwards Lifesciences had a net margin of 15.30% and a return on equity of 16.25%. The firm had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.68 billion. During the same quarter in the previous year, the firm earned $0.67 earnings per share. The company’s quarterly revenue was up 10.5% compared to the same quarter last year. On average, equities analysts forecast that Edwards Lifesciences Corporation will post 3.02 EPS for the current year.

Hedge Funds Weigh In On Edwards Lifesciences

Several institutional investors have recently bought and sold shares of the business. Pin Oak Investment Advisors Inc. purchased a new stake in shares of Edwards Lifesciences during the 2nd quarter valued at about $26,000. TrinityBridge Ltd bought a new stake in Edwards Lifesciences during the second quarter worth approximately $27,000. GK Wealth Management LLC bought a new stake in Edwards Lifesciences during the third quarter worth approximately $26,000. RMG Wealth Management LLC bought a new stake in Edwards Lifesciences during the first quarter worth approximately $26,000. Finally, Compass Financial Management LLC purchased a new stake in Edwards Lifesciences during the second quarter valued at approximately $32,000. Institutional investors own 79.46% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on EW. Raymond James Financial increased their price objective on shares of Edwards Lifesciences from $100.00 to $103.00 and gave the company an “outperform” rating in a report on Friday, July 24th. JPMorgan Chase & Co. lifted their target price on Edwards Lifesciences from $105.00 to $120.00 and gave the stock an “overweight” rating in a report on Thursday, November 5th. Jefferies Financial Group boosted their target price on Edwards Lifesciences from $102.00 to $105.00 and gave the stock a “buy” rating in a research report on Friday, July 24th. UBS Group boosted their target price on Edwards Lifesciences from $110.00 to $118.00 and gave the stock a “buy” rating in a research report on Thursday, November 5th. Finally, Sanford C. Bernstein increased their price target on Edwards Lifesciences from $99.00 to $106.00 and gave the company a “market perform” rating in a research note on Thursday, November 5th. Twenty-three analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Edwards Lifesciences has an average rating of “Moderate Buy” and an average price target of $108.88.

Edwards Lifesciences Company Profile

Edwards Lifesciences is a medical technology company focused on therapies for structural heart disease and critical care. Its products include transcatheter and surgical heart valves, as well as technologies used to monitor patients during intensive care and surgery. The company traces its origins to 1958, when engineer Lowell Edwards and surgeon Albert Starr began developing an artificial heart valve. Their work led to the Starr-Edwards valve, introduced in 1960. Edwards Lifesciences is headquartered in Irvine, California, and serves clinicians and patients around the world.