Edwards Lifesciences Corporation (NYSE:EW – Get Free Report) VP Donald Bobo, Jr. sold 48,900 shares of the company’s stock in a transaction that occurred on Monday, November 9th. The shares were sold at an average price of $103.05, for a total transaction of $5,039,145.00. Following the transaction, the vice president directly owned 22,798 shares in the company, valued at $2,349,333.90. The trade was a 68.20% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Edwards Lifesciences Price Performance
EW stock opened at $105.98 on Thursday. The stock’s fifty day simple moving average is $89.77 and its 200-day simple moving average is $86.09. The company has a quick ratio of 3.86, a current ratio of 4.60 and a debt-to-equity ratio of 0.05. Edwards Lifesciences Corporation has a 52-week low of $74.66 and a 52-week high of $106.05. The stock has a market capitalization of $60.94 billion, a price-to-earnings ratio of 35.38, a price-to-earnings-growth ratio of 2.78 and a beta of 0.85.
Edwards Lifesciences (NYSE:EW – Get Free Report) last posted its quarterly 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 company had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.68 billion. During the same quarter in the previous year, the business earned $0.67 EPS. The firm’s revenue was up 10.5% on a year-over-year basis. Equities research analysts expect that Edwards Lifesciences Corporation will post 3.01 EPS for the current year.
Analyst Upgrades and Downgrades
Several research analysts recently commented on EW shares. Jefferies Financial Group raised their price target on shares of Edwards Lifesciences from $102.00 to $105.00 and gave the company a “buy” rating in a report on Friday, July 24th. Argus increased their price target on Edwards Lifesciences from $105.00 to $115.00 and gave the company a “buy” rating in a report on Friday, August 21st. Deutsche Bank set a $104.00 price objective on shares of Edwards Lifesciences in a report on Tuesday, October 27th. Sanford C. Bernstein boosted their price target on Edwards Lifesciences from $99.00 to $106.00 and gave the company a “market perform” rating in a report on Thursday, November 5th. Finally, Royal Bank Of Canada increased their price objective on shares of Edwards Lifesciences from $110.00 to $115.00 and gave the stock an “outperform” rating in a research note on Thursday, November 5th. Twenty-three equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $109.56.
View Our Latest Stock Report on Edwards Lifesciences
Institutional Trading of Edwards Lifesciences
Institutional investors have recently made changes to their positions in the stock. BlackRock Inc. acquired a new stake in Edwards Lifesciences in the second quarter worth approximately $5,318,092,000. Bank of New York Mellon Corp purchased a new position in shares of Edwards Lifesciences in the second quarter worth approximately $1,274,082,000. Bank of America Corp DE purchased a new position in Edwards Lifesciences during the 2nd quarter worth approximately $605,397,000. Deutsche Bank AG acquired a new position in Edwards Lifesciences during the second quarter valued at $516,552,000. Finally, Legal & General Group Plc acquired a new position in shares of Edwards Lifesciences in the 2nd quarter valued at about $389,089,000. 79.46% of the stock is owned by institutional investors and hedge funds.
About Edwards Lifesciences
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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