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.
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
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.
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