Edwards Lifesciences Corp (NYSE:EW) CEO Michael A. Mussallem sold 22,850 shares of Edwards Lifesciences stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $216.70, for a total transaction of $4,951,595.00. Following the sale, the chief executive officer now owns 95,770 shares of the company’s stock, valued at approximately $20,753,359. The sale was disclosed in a document filed with the SEC, which is available through this link.
NYSE EW traded down $5.12 during trading on Thursday, reaching $216.67. 2,690,000 shares of the company’s stock traded hands, compared to its average volume of 1,291,718. The company has a debt-to-equity ratio of 0.18, a current ratio of 3.38 and a quick ratio of 2.48. The firm has a market cap of $45.97 billion, a price-to-earnings ratio of 46.10, a price-to-earnings-growth ratio of 2.80 and a beta of 0.87. The company’s 50 day simple moving average is $206.16 and its two-hundred day simple moving average is $186.43. Edwards Lifesciences Corp has a 12-month low of $136.44 and a 12-month high of $226.41.
Edwards Lifesciences (NYSE:EW) last posted its earnings results on Tuesday, July 23rd. The medical research company reported $1.38 EPS for the quarter, beating analysts’ consensus estimates of $1.33 by $0.05. The business had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.04 billion. Edwards Lifesciences had a net margin of 18.29% and a return on equity of 31.25%. The company’s revenue for the quarter was up 15.2% on a year-over-year basis. During the same quarter last year, the firm posted $1.24 EPS. Research analysts expect that Edwards Lifesciences Corp will post 5.34 earnings per share for the current fiscal year.
A number of brokerages recently weighed in on EW. Wells Fargo & Co lifted their price objective on shares of Edwards Lifesciences from $207.00 to $220.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Jefferies Financial Group lifted their price objective on shares of Edwards Lifesciences from $210.00 to $245.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Zacks Investment Research upgraded shares of Edwards Lifesciences from a “hold” rating to a “buy” rating and set a $232.00 price objective for the company in a report on Thursday, July 25th. Canaccord Genuity lifted their price objective on shares of Edwards Lifesciences from $215.00 to $250.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Finally, Morgan Stanley raised their target price on shares of Edwards Lifesciences from $210.00 to $228.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and fourteen have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $204.74.
Institutional investors have recently modified their holdings of the company. FTB Advisors Inc. purchased a new position in shares of Edwards Lifesciences in the 1st quarter worth approximately $25,000. TRUE Private Wealth Advisors purchased a new stake in Edwards Lifesciences during the 2nd quarter worth approximately $26,000. Evolution Wealth Advisors LLC purchased a new stake in Edwards Lifesciences during the 2nd quarter worth approximately $29,000. M&R Capital Management Inc. purchased a new stake in Edwards Lifesciences during the 2nd quarter worth approximately $29,000. Finally, Next Capital Management LLC grew its position in Edwards Lifesciences by 297.7% during the 2nd quarter. Next Capital Management LLC now owns 171 shares of the medical research company’s stock worth $32,000 after purchasing an additional 128 shares during the last quarter. 81.90% of the stock is currently owned by hedge funds and other institutional investors.
About Edwards Lifesciences
Edwards Lifesciences Corporation provides products and technologies for structural heart disease and critical care monitoring in the United States and internationally. It offers transcatheter heart valve therapy products comprising transcatheter aortic valve replacement, and transcatheter mitral and tricuspid therapies for the nonsurgical replacement of heart valves.
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