Edwards Lifesciences Co. (NYSE:EW) Director Sells $2,487,999.50 in Stock

Edwards Lifesciences Co. (NYSE:EW) Director Michael A. Mussallem sold 29,350 shares of the stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $84.77, for a total transaction of $2,487,999.50. Following the sale, the director now owns 4,486 shares of the company’s stock, valued at approximately $380,278.22. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Edwards Lifesciences Stock Up 0.2 %

Shares of NYSE EW opened at $85.24 on Friday. The firm has a market capitalization of $51.37 billion, a PE ratio of 36.74, a price-to-earnings-growth ratio of 3.55 and a beta of 1.10. The company has a current ratio of 3.75, a quick ratio of 2.67 and a debt-to-equity ratio of 0.08. Edwards Lifesciences Co. has a 1 year low of $60.57 and a 1 year high of $96.12. The firm’s 50-day moving average is $90.13 and its 200-day moving average is $79.23.

Edwards Lifesciences (NYSE:EW) last issued its earnings results on Thursday, April 25th. The medical research company reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.02. The company had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.58 billion. Edwards Lifesciences had a net margin of 23.01% and a return on equity of 22.86%. Equities analysts expect that Edwards Lifesciences Co. will post 2.77 EPS for the current year.

Wall Street Analysts Forecast Growth

EW has been the subject of a number of recent analyst reports. Morgan Stanley increased their target price on shares of Edwards Lifesciences from $95.00 to $103.00 and gave the stock an “overweight” rating in a research report on Thursday, March 21st. Wells Fargo & Company increased their target price on shares of Edwards Lifesciences from $94.00 to $99.00 and gave the stock an “overweight” rating in a research report on Friday, April 26th. Stifel Nicolaus increased their target price on shares of Edwards Lifesciences from $83.00 to $85.00 and gave the stock a “hold” rating in a research report on Friday, April 26th. Royal Bank of Canada increased their target price on shares of Edwards Lifesciences from $95.00 to $101.00 and gave the stock an “outperform” rating in a research report on Monday, April 15th. Finally, Mizuho increased their price objective on shares of Edwards Lifesciences from $95.00 to $105.00 and gave the stock a “buy” rating in a report on Thursday, April 11th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $92.71.

Institutional Trading of Edwards Lifesciences

A number of hedge funds have recently modified their holdings of the company. Martin Capital Advisors LLP raised its position in shares of Edwards Lifesciences by 0.5% in the 4th quarter. Martin Capital Advisors LLP now owns 25,490 shares of the medical research company’s stock valued at $1,944,000 after acquiring an additional 128 shares during the period. Legacy Wealth Asset Management LLC raised its holdings in Edwards Lifesciences by 0.8% during the 4th quarter. Legacy Wealth Asset Management LLC now owns 16,958 shares of the medical research company’s stock worth $1,293,000 after buying an additional 134 shares during the period. Chapin Davis Inc. raised its holdings in Edwards Lifesciences by 1.7% during the 1st quarter. Chapin Davis Inc. now owns 8,548 shares of the medical research company’s stock worth $817,000 after buying an additional 140 shares during the period. Johnson Financial Group Inc. raised its holdings in Edwards Lifesciences by 23.0% during the 4th quarter. Johnson Financial Group Inc. now owns 771 shares of the medical research company’s stock worth $59,000 after buying an additional 144 shares during the period. Finally, Valley National Advisers Inc. raised its holdings in Edwards Lifesciences by 6.0% during the 1st quarter. Valley National Advisers Inc. now owns 2,677 shares of the medical research company’s stock worth $255,000 after buying an additional 152 shares during the period. 79.46% of the stock is currently owned by institutional investors and hedge funds.

About Edwards Lifesciences

Edwards Lifesciences Corporation provides products and technologies for structural heart disease and critical care monitoring in the United States, Europe, Japan, and internationally. It offers transcatheter heart valve replacement products for the minimally invasive replacement of aortic heart valves under the Edwards SAPIEN family of valves system; and transcatheter heart valve repair and replacement products to treat mitral and tricuspid valve diseases under the PASCAL PRECISION and Cardioband names.