Edwards Lifesciences (NYSE:EW) Stock: Insider Donald Bobo, Jr. Sells 48,900 Shares

Edwards Lifesciences Corporation (NYSE:EW) VP Donald Bobo, Jr. sold 48,900 shares of the stock in a transaction on Monday, November 9th. The shares were sold at an average price of $103.05, for a total value of $5,039,145.00. Following the completion of the sale, the vice president owned 22,798 shares in the company, valued at approximately $2,349,333.90. This trade represents a 68.20% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Edwards Lifesciences Stock Performance

Shares of NYSE EW opened at $103.97 on Wednesday. Edwards Lifesciences Corporation has a one year low of $74.66 and a one year high of $105.37. The company has a debt-to-equity ratio of 0.05, a current ratio of 4.60 and a quick ratio of 3.86. The stock’s fifty day moving average price is $89.47 and its two-hundred day moving average price is $85.98. The firm has a market cap of $59.78 billion, a price-to-earnings ratio of 58.74, a P/E/G ratio of 2.79 and a beta of 0.85.

Edwards Lifesciences (NYSE:EW) last released its earnings results on Wednesday, November 4th. The medical research company reported $0.80 EPS for the quarter, beating the consensus estimate of $0.74 by $0.06. The firm had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.68 billion. Edwards Lifesciences had a net margin of 15.30% and a return on equity of 16.06%. The business’s quarterly revenue was up 10.5% compared to the same quarter last year. During the same period last year, the firm earned $0.67 EPS. On average, equities analysts forecast that Edwards Lifesciences Corporation will post 3.01 EPS for the current year.

Institutional Trading of Edwards Lifesciences

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. bought a new position in Edwards Lifesciences in the 2nd quarter worth approximately $5,318,092,000. Bank of New York Mellon Corp bought a new position in Edwards Lifesciences during the second quarter valued at $1,274,082,000. Bank of America Corp DE purchased a new stake in shares of Edwards Lifesciences during the 2nd quarter valued at about $605,397,000. Deutsche Bank AG purchased a new stake in shares of Edwards Lifesciences during the 2nd quarter valued at about $516,552,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Edwards Lifesciences by 0.6% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,488,643 shares of the medical research company’s stock valued at $496,503,000 after acquiring an additional 30,495 shares during the last quarter. 79.46% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on EW. Deutsche Bank Aktiengesellschaft set a $104.00 price objective on Edwards Lifesciences in a research note on Tuesday, October 27th. Jefferies Financial Group upped their price objective on Edwards Lifesciences from $102.00 to $105.00 and gave the stock a “buy” rating in a report on Friday, July 24th. Royal Bank Of Canada raised their price objective on Edwards Lifesciences from $110.00 to $115.00 and gave the company an “outperform” rating in a research note on Thursday, November 5th. JPMorgan Chase & Co. raised their price target on shares of Edwards Lifesciences from $105.00 to $120.00 and gave the stock an “overweight” rating in a report on Thursday, November 5th. Finally, Leerink Partners upped their target price on Edwards Lifesciences from $101.00 to $112.00 and gave the company an “outperform” rating in a report on Thursday, November 5th. Twenty-three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Edwards Lifesciences currently has a consensus rating of “Moderate Buy” and an average price target of $108.88.

About Edwards Lifesciences

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.