Insider Selling: Edwards Lifesciences Co. (NYSE:EW) Director Sells 29,350 Shares of Stock

Edwards Lifesciences Co. (NYSE:EW) Director Michael A. Mussallem sold 29,350 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the director now owns 4,486 shares of the company’s stock, valued at approximately $380,278.22. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Edwards Lifesciences Trading Up 0.2 %

NYSE EW opened at $85.25 on Friday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.67 and a current ratio of 3.75. Edwards Lifesciences Co. has a 52 week low of $60.57 and a 52 week high of $96.12. The stock has a market capitalization of $51.37 billion, a price-to-earnings ratio of 36.75, a PEG ratio of 3.58 and a beta of 1.10. The stock’s 50 day moving average price is $90.08 and its two-hundred day moving average price is $79.33.

Edwards Lifesciences (NYSE:EW) last announced its quarterly earnings data on Thursday, April 25th. The medical research company reported $0.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.02. Edwards Lifesciences had a return on equity of 22.86% and a net margin of 23.01%. The company had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.58 billion. As a group, analysts anticipate that Edwards Lifesciences Co. will post 2.77 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Bank of America upgraded Edwards Lifesciences from a “neutral” rating to a “buy” rating in a research report on Thursday, March 7th. Evercore ISI cut their target price on shares of Edwards Lifesciences from $92.00 to $89.00 and set an “in-line” rating on the stock in a research report on Friday, April 26th. Wells Fargo & Company raised their target price on shares of Edwards Lifesciences from $94.00 to $99.00 and gave the company an “overweight” rating in a research note on Friday, April 26th. Mizuho boosted their price target on shares of Edwards Lifesciences from $95.00 to $105.00 and gave the stock a “buy” rating in a research note on Thursday, April 11th. Finally, Morgan Stanley raised their price objective on shares of Edwards Lifesciences from $95.00 to $103.00 and gave the company an “overweight” rating in a research note on Thursday, March 21st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $92.71.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. 9258 Wealth Management LLC increased its holdings in shares of Edwards Lifesciences by 2.6% during the 1st quarter. 9258 Wealth Management LLC now owns 10,803 shares of the medical research company’s stock worth $1,032,000 after acquiring an additional 274 shares during the last quarter. Mediolanum International Funds Ltd bought a new position in shares of Edwards Lifesciences in the first quarter valued at about $12,163,000. Smithbridge Asset Management Inc. DE lifted its stake in shares of Edwards Lifesciences by 8.4% during the 1st quarter. Smithbridge Asset Management Inc. DE now owns 11,051 shares of the medical research company’s stock worth $1,056,000 after buying an additional 858 shares during the last quarter. Comprehensive Financial Consultants Institutional Inc. boosted its holdings in shares of Edwards Lifesciences by 8.6% during the 1st quarter. Comprehensive Financial Consultants Institutional Inc. now owns 20,436 shares of the medical research company’s stock worth $1,953,000 after buying an additional 1,619 shares during the period. Finally, Central Pacific Bank Trust Division acquired a new position in Edwards Lifesciences in the 1st quarter valued at about $1,156,000. Institutional investors 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.