Insider Selling: Edwards Lifesciences Co. (NYSE:EW) VP Sells 330 Shares of Stock

Edwards Lifesciences Co. (NYSE:EW) VP Daniel J. Lippis sold 330 shares of Edwards Lifesciences stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $74.42, for a total value of $24,558.60. Following the sale, the vice president now directly owns 26,616 shares of the company’s stock, valued at $1,980,762.72. This trade represents a 1.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Edwards Lifesciences Trading Down 1.1%

Shares of Edwards Lifesciences stock opened at $73.82 on Monday. The firm has a market cap of $43.40 billion, a price-to-earnings ratio of 10.59, a price-to-earnings-growth ratio of 4.82 and a beta of 1.12. Edwards Lifesciences Co. has a 52-week low of $58.93 and a 52-week high of $95.25. The company’s 50-day simple moving average is $71.48 and its 200-day simple moving average is $71.51. The company has a quick ratio of 2.89, a current ratio of 3.46 and a debt-to-equity ratio of 0.06.

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of EW. Headlands Technologies LLC purchased a new stake in shares of Edwards Lifesciences during the 1st quarter worth $48,000. 1834 Investment Advisors Co. boosted its holdings in Edwards Lifesciences by 16.5% during the first quarter. 1834 Investment Advisors Co. now owns 10,107 shares of the medical research company’s stock worth $733,000 after buying an additional 1,429 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Edwards Lifesciences by 5.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 3,961,643 shares of the medical research company’s stock worth $287,140,000 after buying an additional 198,882 shares during the period. ASR Vermogensbeheer N.V. purchased a new position in Edwards Lifesciences in the first quarter valued at about $6,044,000. Finally, Citizens Financial Group Inc. RI acquired a new stake in shares of Edwards Lifesciences during the 1st quarter valued at approximately $213,000. Hedge funds and other institutional investors own 79.46% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on EW. Truist Financial decreased their target price on Edwards Lifesciences from $78.00 to $75.00 and set a “hold” rating for the company in a research note on Friday, April 11th. Stifel Nicolaus upgraded shares of Edwards Lifesciences from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $75.00 to $90.00 in a research report on Thursday, January 30th. Royal Bank of Canada restated an “outperform” rating and issued a $85.00 target price on shares of Edwards Lifesciences in a report on Wednesday, February 12th. StockNews.com upgraded shares of Edwards Lifesciences from a “hold” rating to a “buy” rating in a research note on Thursday. Finally, Piper Sandler upgraded shares of Edwards Lifesciences from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $73.00 to $80.00 in a research note on Thursday, April 24th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $79.45.

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.