Larry L. Wood Sells 8,950 Shares of Edwards Lifesciences Co. (NYSE:EW) Stock

Edwards Lifesciences Co. (NYSE:EW) insider Larry L. Wood sold 8,950 shares of the firm’s stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $75.23, for a total transaction of $673,308.50. Following the completion of the sale, the insider now directly owns 206,900 shares of the company’s stock, valued at approximately $15,565,087. This represents a 4.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Edwards Lifesciences Stock Performance

NYSE:EW traded down $0.35 during mid-day trading on Monday, reaching $74.80. The company’s stock had a trading volume of 2,891,030 shares, compared to its average volume of 5,231,925. The company has a current ratio of 3.46, a quick ratio of 2.89 and a debt-to-equity ratio of 0.06. The stock has a market cap of $43.88 billion, a P/E ratio of 10.73, a PEG ratio of 4.82 and a beta of 1.12. The firm’s fifty day moving average price is $74.54 and its two-hundred day moving average price is $72.93. Edwards Lifesciences Co. has a 12-month low of $58.93 and a 12-month high of $95.25.

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

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Piper Sandler increased their price target on shares of Edwards Lifesciences from $80.00 to $83.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 13th. Citigroup restated a “buy” rating and issued a $95.00 target price (up previously from $84.00) on shares of Edwards Lifesciences in a research note on Thursday, May 22nd. Robert W. Baird boosted their target price on shares of Edwards Lifesciences from $72.00 to $75.00 and gave the company a “neutral” rating in a report on Thursday, April 24th. Wall Street Zen downgraded Edwards Lifesciences from a “buy” rating to a “hold” rating in a research note on Friday, May 16th. Finally, Canaccord Genuity Group raised their price objective on Edwards Lifesciences from $71.00 to $75.00 and gave the company a “hold” rating in a research report on Friday, April 25th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $80.20.

Institutional Trading of Edwards Lifesciences

Several large investors have recently added to or reduced their stakes in EW. Norges Bank bought a new position in Edwards Lifesciences in the fourth quarter worth approximately $610,895,000. Vanguard Group Inc. grew its position in shares of Edwards Lifesciences by 10.4% during the 4th quarter. Vanguard Group Inc. now owns 69,132,036 shares of the medical research company’s stock valued at $5,117,845,000 after acquiring an additional 6,537,494 shares during the period. Nuveen LLC purchased a new stake in shares of Edwards Lifesciences in the 1st quarter worth $330,881,000. Raymond James Financial Inc. purchased a new stake in shares of Edwards Lifesciences in the 4th quarter worth $213,844,000. Finally, Jennison Associates LLC raised its holdings in Edwards Lifesciences by 34.3% in the 1st quarter. Jennison Associates LLC now owns 10,086,033 shares of the medical research company’s stock worth $731,036,000 after purchasing an additional 2,576,383 shares during the period. 79.46% of the stock is currently owned by institutional investors.

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.