Edwards Lifesciences Co. (NYSE:EW) VP Sells $645,620.00 in Stock

Edwards Lifesciences Co. (NYSE:EW) VP Donald E. Bobo, Jr. sold 9,500 shares of the stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $67.96, for a total value of $645,620.00. Following the completion of the transaction, the vice president now owns 46,936 shares in the company, valued at approximately $3,189,770.56. The trade was a 16.83 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Edwards Lifesciences Price Performance

EW stock traded down $0.60 during midday trading on Thursday, hitting $67.92. 5,694,649 shares of the stock were exchanged, compared to its average volume of 4,544,662. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.89 and a current ratio of 3.46. The stock’s 50-day moving average price is $71.92 and its 200-day moving average price is $70.34. The stock has a market cap of $39.93 billion, a price-to-earnings ratio of 9.74, a PEG ratio of 4.82 and a beta of 1.12. Edwards Lifesciences Co. has a fifty-two week low of $58.93 and a fifty-two week high of $96.12.

Edwards Lifesciences (NYSE:EW) last released 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%. Research analysts predict that Edwards Lifesciences Co. will post 2.45 earnings per share for the current year.

Institutional Investors Weigh In On Edwards Lifesciences

A number of hedge funds and other institutional investors have recently made changes to their positions in EW. Versor Investments LP grew its position in shares of Edwards Lifesciences by 102.5% in the third quarter. Versor Investments LP now owns 4,455 shares of the medical research company’s stock valued at $294,000 after purchasing an additional 2,255 shares during the period. Entropy Technologies LP acquired a new stake in Edwards Lifesciences during the third quarter worth about $2,069,000. GSA Capital Partners LLP acquired a new stake in Edwards Lifesciences during the third quarter worth about $481,000. Future Fund LLC increased its stake in Edwards Lifesciences by 37.8% during the third quarter. Future Fund LLC now owns 15,898 shares of the medical research company’s stock worth $1,074,000 after acquiring an additional 4,363 shares during the last quarter. Finally, Empower Advisory Group LLC boosted its position in shares of Edwards Lifesciences by 25.8% in the third quarter. Empower Advisory Group LLC now owns 705,878 shares of the medical research company’s stock worth $46,581,000 after buying an additional 144,857 shares during the period. Hedge funds and other institutional investors own 79.46% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on EW shares. Wolfe Research downgraded Edwards Lifesciences from a “hold” rating to a “strong sell” rating in a report on Wednesday, February 12th. Truist Financial reiterated a “hold” rating and issued a $78.00 price objective (up previously from $70.00) on shares of Edwards Lifesciences in a report on Thursday, December 5th. Morgan Stanley increased their price objective on Edwards Lifesciences from $70.00 to $75.00 and gave the company an “equal weight” rating in a report on Wednesday, February 12th. Bank of America upgraded Edwards Lifesciences from a “neutral” rating to a “buy” rating and raised their price target for the stock from $82.00 to $90.00 in a research note on Monday, December 16th. Finally, Barclays raised their price target on Edwards Lifesciences from $88.00 to $90.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $79.95.

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.