Edwards Lifesciences Co. (NYSE:EW) CFO Sells $837,000.00 in Stock

Edwards Lifesciences Co. (NYSE:EW) CFO Scott B. Ullem sold 11,250 shares of Edwards Lifesciences stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $74.40, for a total value of $837,000.00. Following the sale, the chief financial officer now owns 41,098 shares in the company, valued at $3,057,691.20. This represents a 21.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Edwards Lifesciences Price Performance

Shares of EW opened at $73.82 on Monday. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.46 and a quick ratio of 2.89. Edwards Lifesciences Co. has a 12 month low of $58.93 and a 12 month high of $95.25. The stock has a fifty day moving average price of $71.48 and a 200 day moving average price of $71.51. The company has a market cap of $43.40 billion, a P/E ratio of 10.59, a PEG ratio of 4.82 and a beta of 1.12.

Edwards Lifesciences (NYSE:EW) last announced its quarterly earnings results on Wednesday, April 23rd. The medical research company reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.04. Edwards Lifesciences had a return on equity of 19.40% and a net margin of 72.93%. The company had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.40 billion. During the same quarter in the previous year, the firm posted $0.66 EPS. The firm’s quarterly revenue was up 6.2% on a year-over-year basis. On average, research analysts forecast that Edwards Lifesciences Co. will post 2.45 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have issued reports on EW. Robert W. Baird lifted their price objective on Edwards Lifesciences from $72.00 to $75.00 and gave the stock a “neutral” rating in a report on Thursday, April 24th. Morgan Stanley boosted their price target on Edwards Lifesciences from $70.00 to $75.00 and gave the company an “equal weight” rating in a report on Wednesday, February 12th. Wolfe Research downgraded Edwards Lifesciences from a “hold” rating to a “strong sell” rating in a report on Wednesday, February 12th. Piper Sandler upgraded Edwards Lifesciences from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $73.00 to $80.00 in a report on Thursday, April 24th. Finally, StockNews.com upgraded Edwards Lifesciences from a “hold” rating to a “buy” rating in a report on Thursday. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $79.45.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in EW. Principal Financial Group Inc. boosted its position in Edwards Lifesciences by 2.2% during the 3rd quarter. Principal Financial Group Inc. now owns 817,516 shares of the medical research company’s stock worth $53,948,000 after acquiring an additional 17,647 shares during the period. Harbor Capital Advisors Inc. lifted its holdings in shares of Edwards Lifesciences by 2.5% in the fourth quarter. Harbor Capital Advisors Inc. now owns 11,135 shares of the medical research company’s stock valued at $824,000 after buying an additional 273 shares during the period. Jacobs & Co. CA lifted its holdings in shares of Edwards Lifesciences by 2.3% in the fourth quarter. Jacobs & Co. CA now owns 125,728 shares of the medical research company’s stock valued at $9,307,000 after buying an additional 2,828 shares during the period. Graypoint LLC acquired a new stake in shares of Edwards Lifesciences in the fourth quarter valued at $247,000. Finally, Czech National Bank lifted its holdings in shares of Edwards Lifesciences by 4.2% in the fourth quarter. Czech National Bank now owns 127,881 shares of the medical research company’s stock valued at $9,467,000 after buying an additional 5,166 shares during the period. Institutional investors and hedge funds own 79.46% of the company’s stock.

Edwards Lifesciences Company Profile

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.