Edwards Lifesciences (NYSE:EW) VP Donald Bobo Jr Sells 48,900 Shares of Stock

Edwards Lifesciences Corporation (NYSE:EW) VP Donald Bobo, Jr. sold 48,900 shares of the company’s stock in a transaction dated 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 completion of the transaction, the vice president owned 22,798 shares in the company, valued at approximately $2,349,333.90. This trade represents a 68.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Edwards Lifesciences Trading Up 2.5%

Shares of NYSE EW traded up $2.58 during midday trading on Monday, reaching $104.72. 6,295,752 shares of the stock were exchanged, compared to its average volume of 4,543,305. The company has a market capitalization of $60.21 billion, a P/E ratio of 59.16, a P/E/G ratio of 2.72 and a beta of 0.85. Edwards Lifesciences Corporation has a 52-week low of $74.66 and a 52-week high of $105.37. The company has a current ratio of 4.60, a quick ratio of 3.86 and a debt-to-equity ratio of 0.05. The stock has a 50 day moving average price of $88.92 and a 200-day moving average price of $85.78.

Edwards Lifesciences (NYSE:EW) last announced its quarterly earnings data on Wednesday, November 4th. The medical research company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.06. The business had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.68 billion. Edwards Lifesciences had a net margin of 15.30% and a return on equity of 16.06%. The company’s quarterly revenue was up 10.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.67 earnings per share. Equities research analysts expect that Edwards Lifesciences Corporation will post 3.02 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on EW shares. Wall Street Zen upgraded Edwards Lifesciences from a “hold” rating to a “buy” rating in a report on Sunday. The Goldman Sachs Group boosted their target price on Edwards Lifesciences from $98.00 to $102.00 and gave the stock a “buy” rating in a report on Tuesday, July 14th. UBS Group increased their target price on shares of Edwards Lifesciences from $110.00 to $118.00 and gave the stock a “buy” rating in a research report on Thursday. Truist Financial set a $113.00 price target on shares of Edwards Lifesciences and gave the company a “buy” rating in a report on Wednesday, November 4th. Finally, Argus lifted their price target on shares of Edwards Lifesciences from $105.00 to $115.00 and gave the company a “buy” rating in a research report on Friday, August 21st. Twenty-three equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $108.88.

Institutional Investors Weigh In On Edwards Lifesciences

Large investors have recently modified their holdings of the stock. BlackRock Inc. acquired a new position in shares of Edwards Lifesciences in the 2nd quarter valued at about $5,318,092,000. Bank of New York Mellon Corp purchased a new stake in shares of Edwards Lifesciences during the 2nd quarter worth about $1,274,082,000. Bank of America Corp DE acquired a new stake in shares of Edwards Lifesciences during the 2nd quarter valued at about $605,397,000. Deutsche Bank AG acquired a new stake in shares of Edwards Lifesciences during the 2nd quarter valued at about $516,552,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Edwards Lifesciences by 0.6% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,488,643 shares of the medical research company’s stock valued at $496,503,000 after buying an additional 30,495 shares during the last quarter. Institutional investors and hedge funds own 79.46% of the company’s stock.

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.

Its structural heart portfolio includes transcatheter aortic valve replacement (TAVR) systems and therapies addressing mitral and tricuspid valve disease.