Michael A. Mussallem Sells 19,875 Shares of Edwards Lifesciences Co. (NYSE:EW) Stock

Edwards Lifesciences Co. (NYSE:EW – Get Rating) CEO Michael A. Mussallem sold 19,875 shares of the firm’s stock in a transaction that occurred on Friday, January 13th. The shares were sold at an average price of $78.09, for a total value of $1,552,038.75. Following the completion of the sale, the chief executive officer now directly owns 157,353 shares of the company’s stock, valued at $12,287,695.77. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Edwards Lifesciences Trading Up 0.7 %

Shares of NYSE:EW opened at $78.31 on Friday. Edwards Lifesciences Co. has a 12-month low of $67.13 and a 12-month high of $131.10. The business’s fifty day simple moving average is $74.64 and its 200-day simple moving average is $86.05. The company has a market capitalization of $48.42 billion, a PE ratio of 33.75, a P/E/G ratio of 2.70 and a beta of 1.03. The company has a current ratio of 3.83, a quick ratio of 3.00 and a debt-to-equity ratio of 0.10.

Edwards Lifesciences (NYSE:EW – Get Rating) last announced its quarterly earnings results on Thursday, October 27th. The medical research company reported $0.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.01). Edwards Lifesciences had a net margin of 27.20% and a return on equity of 24.75%. The company had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.34 billion. As a group, equities research analysts predict that Edwards Lifesciences Co. will post 2.45 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in EW. Bank of Nova Scotia grew its stake in Edwards Lifesciences by 128,314.4% during the 2nd quarter. Bank of Nova Scotia now owns 582,089,719 shares of the medical research company’s stock worth $27,369,096,000 after buying an additional 581,636,429 shares during the last quarter. Marshall Wace LLP grew its stake in Edwards Lifesciences by 167.5% during the 3rd quarter. Marshall Wace LLP now owns 3,512,312 shares of the medical research company’s stock worth $290,225,000 after buying an additional 2,199,410 shares during the last quarter. FMR LLC grew its stake in Edwards Lifesciences by 16.3% during the 2nd quarter. FMR LLC now owns 8,861,392 shares of the medical research company’s stock worth $842,630,000 after buying an additional 1,244,420 shares during the last quarter. Artisan Partners Limited Partnership acquired a new stake in Edwards Lifesciences during the 3rd quarter worth about $78,726,000. Finally, Voya Investment Management LLC lifted its position in Edwards Lifesciences by 305.3% during the 2nd quarter. Voya Investment Management LLC now owns 1,218,590 shares of the medical research company’s stock worth $115,875,000 after acquiring an additional 917,906 shares during the period. 80.35% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on EW shares. Cowen lowered their price objective on Edwards Lifesciences from $125.00 to $100.00 in a research note on Friday, October 28th. Piper Sandler decreased their price target on Edwards Lifesciences from $120.00 to $95.00 and set an “overweight” rating for the company in a research note on Friday, October 28th. Stifel Nicolaus lowered Edwards Lifesciences from a “buy” rating to a “hold” rating and decreased their price target for the stock from $95.00 to $75.00 in a research note on Monday, December 5th. Mizuho decreased their price target on Edwards Lifesciences from $100.00 to $85.00 and set a “buy” rating for the company in a research note on Wednesday, December 7th. Finally, Wolfe Research lowered Edwards Lifesciences from an “outperform” rating to a “market perform” rating in a research note on Thursday, December 1st. Eight research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $99.68.

About Edwards Lifesciences

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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.