Edwards Lifesciences Co. (NYSE:EW) Sees Significant Growth in Short Interest

Edwards Lifesciences Co. (NYSE:EW – Get Rating) saw a significant increase in short interest in February. As of February 28th, there was short interest totalling 12,770,000 shares, an increase of 6.8% from the February 13th total of 11,960,000 shares. Based on an average trading volume of 3,940,000 shares, the short-interest ratio is currently 3.2 days. Approximately 2.1% of the company’s shares are short sold.

Analysts Set New Price Targets

Several brokerages have issued reports on EW. Royal Bank of Canada dropped their target price on Edwards Lifesciences from $118.00 to $105.00 and set an “outperform” rating for the company in a research report on Monday, November 28th. Piper Sandler lowered Edwards Lifesciences from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $95.00 to $80.00 in a research report on Monday, January 30th. Citigroup lowered their price target on Edwards Lifesciences from $99.00 to $92.00 and set a “buy” rating for the company in a report on Monday, December 12th. Mizuho dropped their price objective on Edwards Lifesciences from $100.00 to $85.00 and set a “buy” rating on the stock in a research note on Wednesday, December 7th. Finally, Wolfe Research cut Edwards Lifesciences from an “outperform” rating to a “market perform” rating in a research note on Thursday, December 1st. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $88.95.

Edwards Lifesciences Stock Down 1.4 %

Shares of NYSE EW opened at $80.74 on Friday. The company has a current ratio of 3.03, a quick ratio of 2.17 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $49.11 billion, a PE ratio of 33.09, a price-to-earnings-growth ratio of 4.55 and a beta of 1.01. The stock’s fifty day simple moving average is $78.35 and its two-hundred day simple moving average is $79.47. Edwards Lifesciences has a 12-month low of $67.13 and a 12-month high of $131.10.

Edwards Lifesciences (NYSE:EW – Get Rating) last announced its earnings results on Tuesday, January 31st. The medical research company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.03. Edwards Lifesciences had a return on equity of 26.05% and a net margin of 28.27%. The business had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.33 billion. During the same quarter last year, the firm earned $0.51 EPS. The business’s revenue for the quarter was up 1.5% on a year-over-year basis. As a group, analysts expect that Edwards Lifesciences will post 2.52 EPS for the current fiscal year.

Insider Buying and Selling

In related news, VP Daveen Chopra sold 4,435 shares of Edwards Lifesciences stock in a transaction dated Wednesday, March 15th. The stock was sold at an average price of $77.47, for a total value of $343,579.45. Following the completion of the transaction, the vice president now owns 18,911 shares in the company, valued at $1,465,035.17. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Edwards Lifesciences news, Director Heisz Leslie Stone sold 9,671 shares of the business’s stock in a transaction that occurred on Thursday, February 16th. The stock was sold at an average price of $76.82, for a total transaction of $742,926.22. Following the completion of the transaction, the director now owns 27,480 shares in the company, valued at $2,111,013.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Daveen Chopra sold 4,435 shares of the business’s stock in a transaction that occurred on Wednesday, March 15th. The shares were sold at an average price of $77.47, for a total value of $343,579.45. Following the transaction, the vice president now owns 18,911 shares of the company’s stock, valued at approximately $1,465,035.17. The disclosure for this sale can be found here. Over the last quarter, insiders sold 101,821 shares of company stock worth $7,902,704. Corporate insiders own 1.29% of the company’s stock.

Institutional Trading of Edwards Lifesciences

Hedge funds and other institutional investors have recently made changes to their positions in the business. Bogart Wealth LLC purchased a new stake in shares of Edwards Lifesciences during the 3rd quarter valued at $25,000. MV Capital Management Inc. lifted its holdings in shares of Edwards Lifesciences by 74.1% during the 3rd quarter. MV Capital Management Inc. now owns 329 shares of the medical research company’s stock valued at $27,000 after purchasing an additional 140 shares during the last quarter. Trifecta Capital Advisors LLC purchased a new stake in shares of Edwards Lifesciences during the 4th quarter valued at $28,000. Addison Advisors LLC lifted its holdings in shares of Edwards Lifesciences by 708.0% during the 4th quarter. Addison Advisors LLC now owns 404 shares of the medical research company’s stock valued at $30,000 after purchasing an additional 354 shares during the last quarter. Finally, Compass Wealth Management LLC purchased a new stake in shares of Edwards Lifesciences during the 4th quarter valued at $31,000. Hedge funds and other institutional investors own 80.35% of the company’s stock.

Edwards Lifesciences Company Profile

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Edwards Lifesciences Corp. engages in patient-focused medical innovations for heart disease and critical care monitoring. Its products are categorized into four main areas: Transcatheter Aortic Valve Replacement, Transcatheter Mitral and Tricuspid Therapies, Surgical Structural Heart, and Critical Care.