Edwards Lifesciences Co. (NYSE:EW) CEO Sells $428,459.64 in Stock

Edwards Lifesciences Co. (NYSE:EW) CEO Bernard J. Zovighian sold 6,164 shares of Edwards Lifesciences stock in a transaction on Monday, March 10th. The stock was sold at an average price of $69.51, for a total transaction of $428,459.64. Following the completion of the transaction, the chief executive officer now directly owns 59,083 shares of the company’s stock, valued at approximately $4,106,859.33. This represents a 9.45 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Edwards Lifesciences Price Performance

NYSE:EW traded down $1.85 during midday trading on Monday, hitting $68.49. 4,773,170 shares of the stock were exchanged, compared to its average volume of 4,508,592. The company has a market capitalization of $40.26 billion, a price-to-earnings ratio of 9.83, a P/E/G ratio of 4.82 and a beta of 1.12. The company has a current ratio of 3.46, a quick ratio of 2.89 and a debt-to-equity ratio of 0.06. Edwards Lifesciences Co. has a one year low of $58.93 and a one year high of $96.12. The business has a 50-day moving average price of $72.14 and a two-hundred day moving average price of $70.37.

Edwards Lifesciences (NYSE:EW) last posted its quarterly earnings data on Tuesday, February 11th. The medical research company reported $0.59 EPS for the quarter, topping analysts’ consensus estimates 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 predict that Edwards Lifesciences Co. will post 2.45 EPS for the current year.

Wall Street Analyst Weigh In

EW has been the topic of a number of recent research reports. Piper Sandler raised their price target on shares of Edwards Lifesciences from $70.00 to $73.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 12th. Royal Bank of Canada reissued an “outperform” rating and issued a $85.00 target price on shares of Edwards Lifesciences in a report on Wednesday, February 12th. Canaccord Genuity Group lifted their target price on Edwards Lifesciences from $68.00 to $71.00 and gave the company a “hold” rating in a research note on Thursday, February 13th. Barclays increased their price target on Edwards Lifesciences from $88.00 to $90.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Finally, Bank of America upgraded Edwards Lifesciences from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $82.00 to $90.00 in a research report on Monday, December 16th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $79.95.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in EW. Harbor Capital Advisors Inc. raised its stake in Edwards Lifesciences by 2.5% during the 4th quarter. Harbor Capital Advisors Inc. now owns 11,135 shares of the medical research company’s stock valued at $824,000 after purchasing an additional 273 shares during the period. Nordea Investment Management AB raised its position in Edwards Lifesciences by 34.6% during the fourth quarter. Nordea Investment Management AB now owns 4,057,013 shares of the medical research company’s stock valued at $301,355,000 after buying an additional 1,043,484 shares during the period. WELLCOME TRUST LTD THE as trustee of the WELLCOME TRUST lifted its stake in Edwards Lifesciences by 6.7% in the 4th quarter. WELLCOME TRUST LTD THE as trustee of the WELLCOME TRUST now owns 4,800,000 shares of the medical research company’s stock worth $355,344,000 after acquiring an additional 300,000 shares in the last quarter. Sivik Global Healthcare LLC acquired a new stake in Edwards Lifesciences during the 4th quarter worth about $3,702,000. Finally, Avanza Fonder AB acquired a new stake in Edwards Lifesciences during the 4th quarter worth about $4,845,000. Institutional investors and hedge funds own 79.46% of the company’s stock.

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.