Edwards Lifesciences (NYSE:EW) Sets New 12-Month Low at $85.22

Edwards Lifesciences Co. (NYSE:EWGet Rating)’s stock price hit a new 52-week low on Wednesday . The company traded as low as $85.22 and last traded at $85.22, with a volume of 66784 shares changing hands. The stock had previously closed at $87.19.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on EW shares. Canaccord Genuity Group downgraded shares of Edwards Lifesciences from a “buy” rating to a “hold” rating and lowered their price objective for the company from $115.00 to $106.00 in a research report on Friday, July 29th. Canaccord Genuity Group cut shares of Edwards Lifesciences from a “buy” rating to a “hold” rating and decreased their target price for the stock from $115.00 to $106.00 in a research report on Friday, July 29th. Cowen decreased their price objective on shares of Edwards Lifesciences from $140.00 to $125.00 in a report on Monday, July 11th. Morgan Stanley cut their target price on shares of Edwards Lifesciences from $136.00 to $119.00 and set an “overweight” rating for the company in a research note on Friday, July 15th. Finally, Stifel Nicolaus cut their target price on shares of Edwards Lifesciences from $128.00 to $115.00 in a research note on Monday, July 18th. Three equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $125.81.

Edwards Lifesciences Stock Down 1.2 %

The business’s 50 day moving average is $97.39 and its 200-day moving average is $101.83. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.60 and a current ratio of 3.37. The firm has a market capitalization of $52.18 billion, a price-to-earnings ratio of 36.44, a price-to-earnings-growth ratio of 2.52 and a beta of 1.14.

Edwards Lifesciences (NYSE:EWGet Rating) last posted its earnings results on Thursday, July 28th. The medical research company reported $0.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.01). Edwards Lifesciences had a net margin of 27.18% and a return on equity of 24.77%. The firm had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.40 billion. During the same quarter in the previous year, the business posted $0.64 earnings per share. The business’s quarterly revenue was down .2% compared to the same quarter last year. Equities analysts anticipate that Edwards Lifesciences Co. will post 2.51 EPS for the current fiscal year.

Insider Activity at Edwards Lifesciences

In related news, CEO Michael A. Mussallem sold 19,875 shares of the firm’s stock in a transaction on Monday, August 15th. The shares were sold at an average price of $104.74, for a total value of $2,081,707.50. Following the transaction, the chief executive officer now directly owns 157,353 shares in the company, valued at approximately $16,481,153.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Edwards Lifesciences news, VP Donald E. Bobo, Jr. sold 6,725 shares of the stock in a transaction on Thursday, September 8th. The shares were sold at an average price of $90.94, for a total value of $611,571.50. Following the completion of the sale, the vice president now directly owns 62,561 shares of the company’s stock, valued at approximately $5,689,297.34. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Michael A. Mussallem sold 19,875 shares of the stock in a transaction on Monday, August 15th. The shares were sold at an average price of $104.74, for a total transaction of $2,081,707.50. Following the completion of the sale, the chief executive officer now directly owns 157,353 shares of the company’s stock, valued at $16,481,153.22. The disclosure for this sale can be found here. In the last three months, insiders have sold 86,128 shares of company stock worth $8,223,839. 1.29% of the stock is owned by insiders.

Institutional Trading of Edwards Lifesciences

A number of hedge funds have recently bought and sold shares of the stock. Bank of Nova Scotia boosted its holdings in Edwards Lifesciences by 128,314.4% in the 2nd quarter. Bank of Nova Scotia now owns 582,089,719 shares of the medical research company’s stock valued at $27,369,096,000 after purchasing an additional 581,636,429 shares during the period. BlackRock Inc. lifted its holdings in shares of Edwards Lifesciences by 7.6% during the 4th quarter. BlackRock Inc. now owns 57,040,983 shares of the medical research company’s stock worth $7,389,659,000 after acquiring an additional 4,007,132 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Edwards Lifesciences by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 49,724,866 shares of the medical research company’s stock worth $5,853,612,000 after acquiring an additional 648,217 shares during the period. State Street Corp lifted its holdings in shares of Edwards Lifesciences by 3.7% during the 4th quarter. State Street Corp now owns 26,920,713 shares of the medical research company’s stock worth $3,487,578,000 after acquiring an additional 948,638 shares during the period. Finally, Capital International Investors lifted its holdings in shares of Edwards Lifesciences by 1.0% during the 1st quarter. Capital International Investors now owns 22,150,133 shares of the medical research company’s stock worth $2,607,436,000 after acquiring an additional 218,908 shares during the period. 81.33% of the stock is owned by institutional investors.

About Edwards Lifesciences

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Edwards Lifesciences Corporation provides products and technologies for structural heart disease, and critical care and surgical monitoring in the United States, Europe, Japan, and internationally. It offers transcatheter heart valve replacement products for the minimally invasive replacement of heart valves; and transcatheter heart valve repair and replacement products to treat mitral and tricuspid valve diseases.

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