Insider Selling: Edwards Lifesciences Co. (NYSE:EW) CFO Sells 11,250 Shares of Stock

Edwards Lifesciences Co. (NYSE:EW) CFO Scott B. Ullem sold 11,250 shares of the company’s stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $70.78, for a total value of $796,275.00. Following the completion of the sale, the chief financial officer now owns 30,387 shares of the company’s stock, valued at $2,150,791.86. This represents a 27.02 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Edwards Lifesciences Stock Up 0.3 %

NYSE EW traded up $0.21 during trading hours on Friday, hitting $71.61. 5,955,780 shares of the company traded hands, compared to its average volume of 4,451,317. The business’s 50-day moving average is $72.71 and its 200-day moving average is $70.20. Edwards Lifesciences Co. has a twelve month low of $58.93 and a twelve month high of $96.12. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.89 and a current ratio of 3.46. The stock has a market capitalization of $42.24 billion, a price-to-earnings ratio of 10.27, a P/E/G ratio of 4.82 and a beta of 1.10.

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

Analysts Set New Price Targets

A number of equities research analysts recently commented on EW shares. The Goldman Sachs Group upped their price objective on Edwards Lifesciences from $81.00 to $90.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Truist Financial reiterated a “hold” rating and issued a $78.00 price objective (up previously from $70.00) on shares of Edwards Lifesciences in a report on Thursday, December 5th. Piper Sandler upped their price objective on Edwards Lifesciences from $70.00 to $73.00 and gave the company a “neutral” rating in a report on Wednesday, February 12th. Evercore ISI dropped their price objective on Edwards Lifesciences from $75.00 to $73.00 and set an “in-line” rating for the company in a report on Wednesday, February 12th. Finally, Citigroup increased their price target on Edwards Lifesciences from $81.00 to $83.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $79.95.

Institutional Trading of Edwards Lifesciences

A number of hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in shares of Edwards Lifesciences by 10.4% in the fourth quarter. Vanguard Group Inc. now owns 69,132,036 shares of the medical research company’s stock valued at $5,117,845,000 after buying an additional 6,537,494 shares during the last quarter. Wellington Management Group LLP lifted its position in shares of Edwards Lifesciences by 5.3% in the fourth quarter. Wellington Management Group LLP now owns 33,210,879 shares of the medical research company’s stock valued at $2,458,601,000 after buying an additional 1,678,154 shares during the last quarter. State Street Corp lifted its position in shares of Edwards Lifesciences by 1.0% in the third quarter. State Street Corp now owns 26,265,633 shares of the medical research company’s stock valued at $1,733,270,000 after buying an additional 256,538 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Edwards Lifesciences by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 13,647,341 shares of the medical research company’s stock valued at $1,007,520,000 after buying an additional 126,194 shares during the last quarter. Finally, Fisher Asset Management LLC increased its stake in shares of Edwards Lifesciences by 7.7% during the fourth quarter. Fisher Asset Management LLC now owns 9,775,276 shares of the medical research company’s stock worth $723,664,000 after purchasing an additional 696,965 shares during the period. 79.46% of the stock is owned by institutional investors and hedge funds.

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.