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 the business’s stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $74.40, for a total value of $837,000.00. Following the completion of the sale, the chief financial officer now owns 41,098 shares of the company’s stock, valued at approximately $3,057,691.20. This trade represents a 21.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Edwards Lifesciences Stock Performance

NYSE EW opened at $73.82 on Friday. Edwards Lifesciences Co. has a twelve month low of $58.93 and a twelve month high of $95.25. 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 market cap of $43.40 billion, a P/E ratio of 10.59, a PEG ratio of 4.82 and a beta of 1.12. The company’s 50-day simple moving average is $71.48 and its 200 day simple moving average is $71.50.

Edwards Lifesciences (NYSE:EW) last released its quarterly earnings data on Wednesday, April 23rd. The medical research company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.04. The company had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.40 billion. Edwards Lifesciences had a return on equity of 19.40% and a net margin of 72.93%. The company’s revenue was up 6.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.66 EPS. As a group, research analysts forecast that Edwards Lifesciences Co. will post 2.45 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently commented on EW. Barclays lifted their price target on shares of Edwards Lifesciences from $88.00 to $90.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Truist Financial dropped their target price on shares of Edwards Lifesciences from $78.00 to $75.00 and set a “hold” rating on the stock in a report on Friday, April 11th. Stifel Nicolaus upgraded shares of Edwards Lifesciences from a “hold” rating to a “buy” rating and upped their price target for the company from $75.00 to $90.00 in a report on Thursday, January 30th. Morgan Stanley raised their price target 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. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $85.00 price objective on shares of Edwards Lifesciences in a research report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $79.45.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Crowley Wealth Management Inc. acquired a new stake in shares of Edwards Lifesciences during the 4th quarter worth about $26,000. Vega Investment Solutions bought a new stake in Edwards Lifesciences during the fourth quarter worth about $27,000. Rossby Financial LCC acquired a new stake in shares of Edwards Lifesciences during the first quarter worth approximately $29,000. Millstone Evans Group LLC bought a new position in shares of Edwards Lifesciences in the fourth quarter valued at approximately $29,000. Finally, Costello Asset Management INC bought a new position in shares of Edwards Lifesciences in the first quarter valued at approximately $29,000. 79.46% of the stock is currently owned by institutional investors and hedge funds.

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.