Short Interest in Edwards Lifesciences Co. (NYSE:EW) Increases By 28.5%

Edwards Lifesciences Co. (NYSE:EWGet Rating) was the recipient of a large growth in short interest in the month of April. As of April 15th, there was short interest totalling 5,730,000 shares, a growth of 28.5% from the March 31st total of 4,460,000 shares. Approximately 0.9% of the company’s shares are sold short. Based on an average daily trading volume, of 2,750,000 shares, the days-to-cover ratio is presently 2.1 days.

Several research analysts have recently issued reports on the company. StockNews.com raised Edwards Lifesciences from a “hold” rating to a “buy” rating in a research report on Wednesday, April 27th. Stifel Nicolaus decreased their target price on Edwards Lifesciences from $132.00 to $120.00 and set a “buy” rating for the company in a research report on Thursday, January 27th. Wolfe Research started coverage on Edwards Lifesciences in a research report on Tuesday, April 5th. They issued an “outperform” rating and a $134.00 target price for the company. Zacks Investment Research raised Edwards Lifesciences from a “sell” rating to a “hold” rating and set a $115.00 target price for the company in a research report on Friday, April 29th. Finally, Raymond James decreased their target price on Edwards Lifesciences from $134.00 to $126.00 and set an “outperform” rating for the company in a research report on Thursday, January 27th. Four equities research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $128.29.

NYSE EW opened at $105.93 on Wednesday. Edwards Lifesciences has a 1-year low of $87.32 and a 1-year high of $131.73. The company has a market capitalization of $65.82 billion, a P/E ratio of 43.41, a PEG ratio of 3.19 and a beta of 1.16. The business has a 50 day moving average price of $114.11 and a 200 day moving average price of $115.51. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.41 and a quick ratio of 2.64.

Edwards Lifesciences (NYSE:EWGet Rating) last released its quarterly earnings data on Tuesday, April 26th. The medical research company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.03. The firm had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.31 billion. Edwards Lifesciences had a return on equity of 25.80% and a net margin of 28.72%. Edwards Lifesciences’s quarterly revenue was up 10.2% on a year-over-year basis. During the same period last year, the business posted $0.54 EPS. On average, research analysts expect that Edwards Lifesciences will post 2.56 earnings per share for the current fiscal year.

In other news, VP Catherine M. Szyman sold 20,000 shares of the company’s stock in a transaction dated Friday, February 18th. The stock was sold at an average price of $106.31, for a total transaction of $2,126,200.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael A. Mussallem sold 32,550 shares of the company’s stock in a transaction dated Tuesday, February 15th. The stock was sold at an average price of $110.09, for a total value of $3,583,429.50. The disclosure for this sale can be found here. Insiders sold a total of 267,081 shares of company stock worth $29,606,428 in the last quarter. Company insiders own 1.29% of the company’s stock.

A number of large investors have recently made changes to their positions in EW. Financial Advocates Investment Management acquired a new stake in Edwards Lifesciences during the 3rd quarter valued at $206,000. Pendal Group Ltd acquired a new stake in shares of Edwards Lifesciences during the third quarter worth $203,000. Advisor Group Holdings Inc. boosted its holdings in shares of Edwards Lifesciences by 6.2% during the third quarter. Advisor Group Holdings Inc. now owns 190,624 shares of the medical research company’s stock worth $21,573,000 after purchasing an additional 11,138 shares during the last quarter. Daiwa Securities Group Inc. boosted its holdings in shares of Edwards Lifesciences by 8.6% during the third quarter. Daiwa Securities Group Inc. now owns 41,626 shares of the medical research company’s stock worth $4,712,000 after purchasing an additional 3,279 shares during the last quarter. Finally, Welch Group LLC boosted its holdings in shares of Edwards Lifesciences by 25.2% during the third quarter. Welch Group LLC now owns 2,453 shares of the medical research company’s stock worth $278,000 after purchasing an additional 493 shares during the last quarter. Hedge funds and other institutional investors own 82.54% of the company’s stock.

About Edwards Lifesciences (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.

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