Edwards Lifesciences Corporation (NYSE:EW – Get Free Report) VP Daniel Lippis sold 619 shares of the firm’s stock in a transaction dated Tuesday, November 10th. The shares were sold at an average price of $104.25, for a total value of $64,530.75. Following the transaction, the vice president directly owned 40,034 shares of the company’s stock, valued at $4,173,544.50. This represents a 1.52% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Edwards Lifesciences Price Performance
Shares of Edwards Lifesciences stock opened at $103.97 on Wednesday. Edwards Lifesciences Corporation has a 52 week low of $74.66 and a 52 week high of $105.37. The stock has a market cap of $59.78 billion, a PE ratio of 58.74, a price-to-earnings-growth ratio of 2.79 and a beta of 0.85. The company’s 50-day moving average price is $89.47 and its two-hundred day moving average price is $85.98. The company has a current ratio of 4.60, a quick ratio of 3.86 and a debt-to-equity ratio of 0.05.
Edwards Lifesciences (NYSE:EW – Get Free Report) last announced its earnings results on Wednesday, November 4th. The medical research company reported $0.80 EPS for the quarter, beating the consensus estimate of $0.74 by $0.06. Edwards Lifesciences had a return on equity of 16.06% and a net margin of 15.30%. The business had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.68 billion. During the same period in the prior year, the business posted $0.67 earnings per share. Edwards Lifesciences’s revenue was up 10.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Edwards Lifesciences Corporation will post 3.01 EPS for the current fiscal year.
Institutional Trading of Edwards Lifesciences
A number of institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. bought a new position in shares of Edwards Lifesciences during the second quarter worth $5,318,092,000. Bank of New York Mellon Corp bought a new stake in shares of Edwards Lifesciences during the second quarter worth $1,274,082,000. Bank of America Corp DE bought a new stake in Edwards Lifesciences in the 2nd quarter valued at approximately $605,397,000. Deutsche Bank AG bought a new stake in shares of Edwards Lifesciences in the second quarter worth $516,552,000. Finally, Legal & General Group Plc bought a new position in Edwards Lifesciences in the second quarter valued at $389,089,000. 79.46% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently weighed in on EW shares. The Goldman Sachs Group raised their price target on Edwards Lifesciences from $98.00 to $102.00 and gave the stock a “buy” rating in a research note on Tuesday, July 14th. JPMorgan Chase & Co. lifted their price target on shares of Edwards Lifesciences from $105.00 to $120.00 and gave the stock an “overweight” rating in a research note on Thursday, November 5th. Royal Bank Of Canada boosted their price target on Edwards Lifesciences from $110.00 to $115.00 and gave the company an “outperform” rating in a research note on Thursday, November 5th. Argus boosted their target price on Edwards Lifesciences from $105.00 to $115.00 and gave the stock a “buy” rating in a report on Friday, August 21st. Finally, Robert W. Baird raised shares of Edwards Lifesciences from a “neutral” rating to an “outperform” rating and set a $116.00 price target on the stock in a research note on Thursday, November 5th. Twenty-three analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $108.88.
View Our Latest Report on Edwards Lifesciences
Edwards Lifesciences Company Profile
Edwards Lifesciences is a medical technology company focused on therapies for structural heart disease and critical care. Its products include transcatheter and surgical heart valves, as well as technologies used to monitor patients during intensive care and surgery. The company traces its origins to 1958, when engineer Lowell Edwards and surgeon Albert Starr began developing an artificial heart valve. Their work led to the Starr-Edwards valve, introduced in 1960. Edwards Lifesciences is headquartered in Irvine, California, and serves clinicians and patients around the world.
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