Michael A. Mussallem Sells 29,350 Shares of Edwards Lifesciences Co. (NYSE:EW) Stock

Edwards Lifesciences Co. (NYSE:EW) Director Michael A. Mussallem sold 29,350 shares of Edwards Lifesciences stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $84.77, for a total value of $2,487,999.50. Following the completion of the sale, the director now owns 4,486 shares in the company, valued at approximately $380,278.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Edwards Lifesciences Stock Performance

NYSE:EW opened at $85.24 on Friday. The company has a fifty day simple moving average of $90.13 and a two-hundred day simple moving average of $79.23. The company has a market cap of $51.37 billion, a price-to-earnings ratio of 36.74, a price-to-earnings-growth ratio of 3.55 and a beta of 1.10. The company has a quick ratio of 2.67, a current ratio of 3.75 and a debt-to-equity ratio of 0.08. Edwards Lifesciences Co. has a 52 week low of $60.57 and a 52 week high of $96.12.

Edwards Lifesciences (NYSE:EW) last released its quarterly earnings data on Thursday, April 25th. The medical research company reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.02. The business had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.58 billion. Edwards Lifesciences had a net margin of 23.01% and a return on equity of 22.86%. As a group, equities analysts anticipate that Edwards Lifesciences Co. will post 2.77 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Edwards Lifesciences

Several institutional investors have recently modified their holdings of EW. Martin Capital Advisors LLP raised its stake in Edwards Lifesciences by 0.5% during the fourth quarter. Martin Capital Advisors LLP now owns 25,490 shares of the medical research company’s stock worth $1,944,000 after purchasing an additional 128 shares during the period. Legacy Wealth Asset Management LLC raised its stake in Edwards Lifesciences by 0.8% during the fourth quarter. Legacy Wealth Asset Management LLC now owns 16,958 shares of the medical research company’s stock worth $1,293,000 after purchasing an additional 134 shares during the period. Chapin Davis Inc. raised its stake in Edwards Lifesciences by 1.7% during the first quarter. Chapin Davis Inc. now owns 8,548 shares of the medical research company’s stock worth $817,000 after purchasing an additional 140 shares during the period. Johnson Financial Group Inc. raised its stake in Edwards Lifesciences by 23.0% during the fourth quarter. Johnson Financial Group Inc. now owns 771 shares of the medical research company’s stock worth $59,000 after purchasing an additional 144 shares during the period. Finally, Valley National Advisers Inc. increased its position in shares of Edwards Lifesciences by 6.0% in the first quarter. Valley National Advisers Inc. now owns 2,677 shares of the medical research company’s stock worth $255,000 after acquiring an additional 152 shares in the last quarter. 79.46% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

EW has been the subject of a number of recent analyst reports. StockNews.com raised Edwards Lifesciences from a “hold” rating to a “buy” rating in a research report on Monday, April 29th. Piper Sandler boosted their price target on shares of Edwards Lifesciences from $85.00 to $88.00 and gave the company a “neutral” rating in a research note on Friday, April 26th. Bank of America upgraded shares of Edwards Lifesciences from a “neutral” rating to a “buy” rating in a report on Thursday, March 7th. Stifel Nicolaus upped their price target on Edwards Lifesciences from $83.00 to $85.00 and gave the stock a “hold” rating in a research note on Friday, April 26th. Finally, OTR Global raised Edwards Lifesciences from a “mixed” rating to a “positive” rating in a research note on Tuesday, March 26th. One analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, Edwards Lifesciences presently has a consensus rating of “Moderate Buy” and a consensus price target of $92.71.

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.