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 Edwards Lifesciences stock in a transaction on Wednesday, March 26th. The stock was sold at an average price of $70.87, for a total value of $797,287.50. Following the sale, the chief financial officer now owns 30,387 shares of the company’s stock, valued at approximately $2,153,526.69. This trade represents a 27.02 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Edwards Lifesciences Stock Performance

Shares of NYSE:EW traded down $0.12 during midday trading on Wednesday, reaching $71.12. The company’s stock had a trading volume of 3,487,871 shares, compared to its average volume of 4,618,976. The company has a quick ratio of 2.89, a current ratio of 3.46 and a debt-to-equity ratio of 0.06. The stock has a fifty day moving average of $71.43 and a 200 day moving average of $70.45. Edwards Lifesciences Co. has a twelve month low of $58.93 and a twelve month high of $96.12. The firm has a market capitalization of $41.81 billion, a PE ratio of 10.20, a P/E/G ratio of 4.82 and a beta of 1.12.

Edwards Lifesciences (NYSE:EW) last announced its quarterly earnings results on Tuesday, February 11th. The medical research company reported $0.59 earnings per share for the quarter, topping 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%. On average, equities analysts expect that Edwards Lifesciences Co. will post 2.45 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in shares of Edwards Lifesciences by 10.4% in the 4th quarter. Vanguard Group Inc. now owns 69,132,036 shares of the medical research company’s stock valued at $5,117,845,000 after purchasing an additional 6,537,494 shares during the period. Wellington Management Group LLP increased its holdings in 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 in the last quarter. State Street Corp raised 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 worth $1,733,270,000 after acquiring an additional 256,538 shares during the period. Geode Capital Management LLC boosted its stake in shares of Edwards Lifesciences by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 13,647,341 shares of the medical research company’s stock worth $1,007,520,000 after acquiring an additional 126,194 shares in the last quarter. Finally, Fisher Asset Management LLC grew its position in shares of Edwards Lifesciences by 7.7% during the 4th quarter. Fisher Asset Management LLC now owns 9,775,276 shares of the medical research company’s stock valued at $723,664,000 after acquiring an additional 696,965 shares during the period. 79.46% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

EW has been the subject of a number of research analyst reports. Bank of America upgraded shares of Edwards Lifesciences from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $82.00 to $90.00 in a report on Monday, December 16th. Canaccord Genuity Group boosted their price target on Edwards Lifesciences from $68.00 to $71.00 and gave the company a “hold” rating in a report on Thursday, February 13th. Truist Financial reaffirmed a “hold” rating and issued a $78.00 price target (up previously from $70.00) on shares of Edwards Lifesciences in a research report on Thursday, December 5th. Stifel Nicolaus raised 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 note on Thursday, January 30th. Finally, Morgan Stanley increased their target price on Edwards Lifesciences from $70.00 to $75.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $79.95.

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.