Edwards Lifesciences (NYSE:EW) Sees Large Volume Increase

Edwards Lifesciences Co. (NYSE:EW) saw unusually-strong trading volume on Friday . Approximately 3,546,748 shares traded hands during trading, a decline of 16% from the previous session’s volume of 4,212,174 shares.The stock last traded at $69.95 and had previously closed at $68.13.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Bank of America cut Edwards Lifesciences from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $105.00 to $75.00 in a research report on Thursday, July 25th. Royal Bank of Canada reduced their target price on shares of Edwards Lifesciences from $101.00 to $85.00 and set an “outperform” rating for the company in a report on Thursday, July 25th. StockNews.com downgraded shares of Edwards Lifesciences from a “buy” rating to a “hold” rating in a report on Thursday, July 25th. Barclays reduced their price objective on shares of Edwards Lifesciences from $90.00 to $80.00 and set an “overweight” rating for the company in a research note on Monday, September 9th. Finally, Truist Financial decreased their price objective on shares of Edwards Lifesciences from $82.00 to $71.00 and set a “hold” rating on the stock in a research report on Friday. Fifteen investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $80.29.

Edwards Lifesciences Price Performance

The firm has a market cap of $41.28 billion, a P/E ratio of 29.53, a PEG ratio of 2.85 and a beta of 1.13. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.71 and a quick ratio of 2.87. The stock’s 50-day simple moving average is $72.39 and its two-hundred day simple moving average is $83.47.

Edwards Lifesciences (NYSE:EW) last issued its quarterly earnings results on Wednesday, July 24th. The medical research company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.69 by $0.01. Edwards Lifesciences had a net margin of 24.55% and a return on equity of 22.35%. The company had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.65 billion. During the same period in the prior year, the firm posted $0.66 EPS. The firm’s revenue was up 6.7% compared to the same quarter last year. Equities research analysts forecast that Edwards Lifesciences Co. will post 2.7 earnings per share for the current fiscal year.

Insider Transactions at Edwards Lifesciences

In related news, VP Donald E. Bobo, Jr. sold 5,000 shares of the stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $66.08, for a total value of $330,400.00. Following the transaction, the vice president now owns 46,936 shares of the company’s stock, valued at $3,101,530.88. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, VP Donald E. Bobo, Jr. sold 5,000 shares of the company’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $66.08, for a total value of $330,400.00. Following the completion of the sale, the vice president now directly owns 46,936 shares of the company’s stock, valued at $3,101,530.88. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Daveen Chopra sold 1,250 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $69.95, for a total transaction of $87,437.50. Following the transaction, the vice president now directly owns 29,333 shares in the company, valued at approximately $2,051,843.35. The disclosure for this sale can be found here. Over the last three months, insiders have sold 16,250 shares of company stock valued at $1,218,138. 1.29% of the stock is currently owned by company insiders.

Institutional Trading of Edwards Lifesciences

Hedge funds have recently bought and sold shares of the stock. Crewe Advisors LLC purchased a new stake in shares of Edwards Lifesciences during the 1st quarter worth $28,000. First Community Trust NA bought a new position in Edwards Lifesciences in the second quarter worth about $29,000. Riverview Trust Co purchased a new stake in shares of Edwards Lifesciences during the first quarter valued at about $34,000. DSM Capital Partners LLC bought a new stake in shares of Edwards Lifesciences in the 4th quarter valued at about $28,000. Finally, Webster Bank N. A. purchased a new position in shares of Edwards Lifesciences in the 2nd quarter worth approximately $39,000. Hedge funds and other institutional investors own 79.46% of the company’s stock.

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.