Scott B. Ullem Sells 11,250 Shares of Edwards Lifesciences Co. (NYSE:EW) Stock

Edwards Lifesciences Co. (NYSE:EW) CFO Scott B. Ullem sold 11,250 shares of Edwards Lifesciences stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $70.78, for a total transaction of $796,275.00. Following the completion of the transaction, the chief financial officer now directly owns 30,387 shares in the company, valued at approximately $2,150,791.86. The trade was a 27.02 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Edwards Lifesciences Price Performance

NYSE:EW opened at $71.61 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.46 and a quick ratio of 2.89. The company has a 50 day moving average price of $72.64 and a 200-day moving average price of $70.27. Edwards Lifesciences Co. has a 1-year low of $58.93 and a 1-year high of $96.12. The firm has a market cap of $42.24 billion, a price-to-earnings ratio of 10.27, a price-to-earnings-growth ratio of 4.82 and a beta of 1.10.

Edwards Lifesciences (NYSE:EW) last released its quarterly earnings data on Tuesday, February 11th. The medical research company reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.04. Edwards Lifesciences had a net margin of 72.93% and a return on equity of 19.40%. Equities research analysts forecast that Edwards Lifesciences Co. will post 2.45 EPS for the current year.

Wall Street Analysts Forecast Growth

EW has been the subject of several recent analyst reports. Bank of America raised Edwards Lifesciences from a “neutral” rating to a “buy” rating and raised their price target for the stock from $82.00 to $90.00 in a report on Monday, December 16th. Wolfe Research cut shares of Edwards Lifesciences from a “hold” rating to a “strong sell” rating in a research note on Wednesday, February 12th. Stifel Nicolaus raised shares of Edwards Lifesciences from a “hold” rating to a “buy” rating and boosted their target price for the stock from $75.00 to $90.00 in a research report on Thursday, January 30th. Piper Sandler raised their price target on shares of Edwards Lifesciences from $70.00 to $73.00 and gave the stock a “neutral” rating in a report on Wednesday, February 12th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $85.00 price objective on shares of Edwards Lifesciences in a report on Wednesday, February 12th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $79.95.

Hedge Funds Weigh In On Edwards Lifesciences

A number of large investors have recently bought and sold shares of the business. Wellington Management Group LLP increased its position in shares of Edwards Lifesciences by 86.3% in the third quarter. Wellington Management Group LLP now owns 31,532,725 shares of the medical research company’s stock valued at $2,080,845,000 after buying an additional 14,610,123 shares in the last quarter. Norges Bank acquired a new stake in Edwards Lifesciences in the 4th quarter valued at $610,895,000. Jennison Associates LLC purchased a new stake in Edwards Lifesciences in the 4th quarter worth $555,939,000. Vanguard Group Inc. raised its position in Edwards Lifesciences by 10.4% during the fourth quarter. Vanguard Group Inc. now owns 69,132,036 shares of the medical research company’s stock worth $5,117,845,000 after acquiring an additional 6,537,494 shares during the period. Finally, Assenagon Asset Management S.A. lifted its holdings in Edwards Lifesciences by 475.8% during the fourth quarter. Assenagon Asset Management S.A. now owns 4,243,976 shares of the medical research company’s stock valued at $314,182,000 after purchasing an additional 3,506,886 shares in the last quarter. Institutional investors and hedge funds own 79.46% of the company’s stock.

Edwards Lifesciences Company Profile

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.