Insider Selling: Edwards Lifesciences Co. (NYSE:EW) VP Sells 20,000 Shares of Stock

Edwards Lifesciences Co. (NYSE:EW – Get Rating) VP Catherine M. Szyman sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, April 11th. The shares were sold at an average price of $122.04, for a total value of $2,440,800.00. Following the completion of the transaction, the vice president now owns 27,569 shares in the company, valued at approximately $3,364,520.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

NYSE EW opened at $120.84 on Wednesday. Edwards Lifesciences Co. has a 52-week low of $85.39 and a 52-week high of $131.73. The company has a fifty day moving average of $111.85 and a 200-day moving average of $114.91. The company has a market capitalization of $75.08 billion, a P/E ratio of 50.56, a P/E/G ratio of 3.48 and a beta of 1.15. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.38 and a current ratio of 3.08.

Edwards Lifesciences (NYSE:EW – Get Rating) last released its quarterly earnings results on Wednesday, January 26th. The medical research company reported $0.51 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.55 by ($0.04). Edwards Lifesciences had a net margin of 28.73% and a return on equity of 26.53%. The firm had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.34 billion. During the same quarter in the previous year, the business earned $0.50 EPS. As a group, analysts forecast that Edwards Lifesciences Co. will post 2.56 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently modified their holdings of EW. BlackRock Inc. increased its holdings in shares of Edwards Lifesciences by 7.6% in the fourth quarter. BlackRock Inc. now owns 57,040,983 shares of the medical research company’s stock worth $7,389,659,000 after buying an additional 4,007,132 shares during the period. State Street Corp grew its position in Edwards Lifesciences by 3.7% during the 4th quarter. State Street Corp now owns 26,920,713 shares of the medical research company’s stock worth $3,487,578,000 after acquiring an additional 948,638 shares during the last quarter. Capital International Investors increased its stake in Edwards Lifesciences by 6.0% in the 4th quarter. Capital International Investors now owns 21,931,225 shares of the medical research company’s stock worth $2,841,315,000 after purchasing an additional 1,250,416 shares during the period. Brown Advisory Inc. raised its stake in shares of Edwards Lifesciences by 18.0% during the fourth quarter. Brown Advisory Inc. now owns 16,722,298 shares of the medical research company’s stock valued at $2,166,375,000 after acquiring an additional 2,548,909 shares during the last quarter. Finally, Sands Capital Management LLC boosted its holdings in shares of Edwards Lifesciences by 0.8% during the third quarter. Sands Capital Management LLC now owns 13,550,416 shares of the medical research company’s stock worth $1,534,043,000 after purchasing an additional 113,882 shares during the period. 81.91% of the stock is owned by institutional investors and hedge funds.

EW has been the topic of a number of recent research reports. Morgan Stanley dropped their price target on Edwards Lifesciences from $148.00 to $136.00 and set an “overweight” rating on the stock in a research report on Thursday, January 27th. Sanford C. Bernstein upgraded shares of Edwards Lifesciences from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $132.00 to $135.00 in a research note on Wednesday, March 16th. Piper Sandler dropped their price target on shares of Edwards Lifesciences from $133.00 to $125.00 in a research note on Thursday, January 27th. JPMorgan Chase & Co. upgraded shares of Edwards Lifesciences from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $114.00 to $140.00 in a research note on Friday, December 17th. Finally, Credit Suisse Group boosted their target price on shares of Edwards Lifesciences from $131.00 to $144.00 and gave the company an “outperform” rating in a report on Friday, January 7th. Six equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $124.91.

Edwards Lifesciences Company Profile (Get Rating)

Edwards Lifesciences Corporation provides products and technologies for structural heart disease, and critical care and surgical monitoring in the United States, Europe, Japan, and internationally. It offers transcatheter heart valve replacement products for the minimally invasive replacement of heart valves; and transcatheter heart valve repair and replacement products to treat mitral and tricuspid valve diseases.

Further Reading