Edwards Lifesciences Corp (NYSE:EW) CEO Sells $4,951,595.00 in Stock

Edwards Lifesciences Corp (NYSE:EW) CEO Michael A. Mussallem sold 22,850 shares of the company’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $216.70, for a total transaction of $4,951,595.00. Following the sale, the chief executive officer now directly owns 95,770 shares of the company’s stock, valued at approximately $20,753,359. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Shares of EW traded down $5.12 during mid-day trading on Thursday, reaching $216.67. The stock had a trading volume of 2,690,000 shares, compared to its average volume of 1,291,718. The company has a debt-to-equity ratio of 0.18, a current ratio of 3.38 and a quick ratio of 2.48. Edwards Lifesciences Corp has a 52-week low of $136.44 and a 52-week high of $226.41. The business’s fifty day moving average is $206.16 and its 200 day moving average is $186.43. The firm has a market cap of $45.97 billion, a price-to-earnings ratio of 46.10, a P/E/G ratio of 2.80 and a beta of 0.87.

Edwards Lifesciences (NYSE:EW) last announced its quarterly earnings data on Tuesday, July 23rd. The medical research company reported $1.38 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.33 by $0.05. Edwards Lifesciences had a net margin of 18.29% and a return on equity of 31.25%. The firm had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.04 billion. During the same quarter in the prior year, the firm posted $1.24 earnings per share. Edwards Lifesciences’s quarterly revenue was up 15.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Edwards Lifesciences Corp will post 5.34 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently made changes to their positions in EW. Nuveen Asset Management LLC grew its holdings in shares of Edwards Lifesciences by 8,278.5% in the second quarter. Nuveen Asset Management LLC now owns 3,951,568 shares of the medical research company’s stock valued at $730,013,000 after purchasing an additional 3,904,405 shares during the period. Jennison Associates LLC lifted its position in Edwards Lifesciences by 40.2% in the first quarter. Jennison Associates LLC now owns 5,763,824 shares of the medical research company’s stock valued at $1,102,792,000 after buying an additional 1,651,691 shares during the last quarter. BlackRock Inc. lifted its position in Edwards Lifesciences by 4.7% in the first quarter. BlackRock Inc. now owns 17,211,498 shares of the medical research company’s stock valued at $3,293,075,000 after buying an additional 780,079 shares during the last quarter. FMR LLC lifted its position in Edwards Lifesciences by 7.9% in the first quarter. FMR LLC now owns 8,175,796 shares of the medical research company’s stock valued at $1,564,274,000 after buying an additional 598,976 shares during the last quarter. Finally, Bessemer Group Inc. lifted its position in Edwards Lifesciences by 56,300.0% in the second quarter. Bessemer Group Inc. now owns 503,652 shares of the medical research company’s stock valued at $93,045,000 after buying an additional 502,759 shares during the last quarter. 81.90% of the stock is owned by hedge funds and other institutional investors.

A number of research firms have recently issued reports on EW. Jefferies Financial Group upped their target price on shares of Edwards Lifesciences from $210.00 to $245.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Citigroup set a $159.00 target price on shares of Edwards Lifesciences and gave the stock a “sell” rating in a report on Friday, July 26th. Raymond James upped their target price on shares of Edwards Lifesciences from $200.00 to $232.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Wells Fargo & Co upped their target price on shares of Edwards Lifesciences from $207.00 to $220.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Finally, Credit Suisse Group upped their target price on shares of Edwards Lifesciences from $221.00 to $226.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and fourteen have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $204.74.

Edwards Lifesciences Company Profile

Edwards Lifesciences Corporation provides products and technologies for structural heart disease and critical care monitoring in the United States and internationally. It offers transcatheter heart valve therapy products comprising transcatheter aortic valve replacement, and transcatheter mitral and tricuspid therapies for the nonsurgical replacement of heart valves.

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Insider Buying and Selling by Quarter for Edwards Lifesciences (NYSE:EW)

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