Edwards Lifesciences Co. (NYSE:EW) Short Interest Up 24.6% in April

Edwards Lifesciences Co. (NYSE:EW) was the recipient of a large growth in short interest during the month of April. As of April 15th, there was short interest totalling 6,580,000 shares, a growth of 24.6% from the March 31st total of 5,280,000 shares. Based on an average daily trading volume, of 2,850,000 shares, the short-interest ratio is currently 2.3 days.

In other news, Director Nicholas J. Valeriani sold 8,200 shares of the business’s stock in a transaction that occurred on Thursday, February 4th. The shares were sold at an average price of $85.21, for a total value of $698,722.00. Following the transaction, the director now owns 67,896 shares in the company, valued at approximately $5,785,418.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Heisz Leslie Stone sold 6,707 shares of the stock in a transaction on Friday, April 23rd. The stock was sold at an average price of $97.52, for a total transaction of $654,066.64. Following the sale, the director now owns 29,272 shares of the company’s stock, valued at $2,854,605.44. The disclosure for this sale can be found here. Insiders sold a total of 310,003 shares of company stock worth $26,173,339 in the last quarter. Corporate insiders own 1.48% of the company’s stock.

Large investors have recently modified their holdings of the business. Bainco International Investors purchased a new stake in shares of Edwards Lifesciences during the 4th quarter valued at about $28,000. Tompkins Financial Corp bought a new position in Edwards Lifesciences during the fourth quarter valued at approximately $69,000. Sound Income Strategies LLC boosted its holdings in Edwards Lifesciences by 375.0% in the fourth quarter. Sound Income Strategies LLC now owns 380 shares of the medical research company’s stock worth $35,000 after purchasing an additional 300 shares during the last quarter. Central Bank & Trust Co. bought a new stake in Edwards Lifesciences in the 1st quarter worth approximately $33,000. Finally, JFS Wealth Advisors LLC purchased a new stake in Edwards Lifesciences during the 1st quarter valued at $33,000. 80.94% of the stock is owned by institutional investors and hedge funds.

EW has been the subject of a number of research reports. Morgan Stanley raised their price target on shares of Edwards Lifesciences from $99.00 to $108.00 and gave the stock an “overweight” rating in a report on Tuesday, April 27th. Piper Sandler boosted their target price on Edwards Lifesciences from $97.00 to $105.00 and gave the company an “overweight” rating in a research report on Tuesday, April 27th. Canaccord Genuity raised their price objective on Edwards Lifesciences from $94.00 to $103.00 and gave the company a “buy” rating in a research note on Tuesday, April 27th. Atlantic Securities assumed coverage on Edwards Lifesciences in a report on Wednesday, April 21st. They issued a “neutral” rating and a $85.00 target price on the stock. Finally, Raymond James upped their price objective on shares of Edwards Lifesciences from $96.00 to $101.00 and gave the stock an “outperform” rating in a report on Tuesday, April 27th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have issued a buy rating to the company’s stock. Edwards Lifesciences presently has an average rating of “Buy” and an average target price of $99.93.

EW stock traded down $1.32 during midday trading on Tuesday, hitting $93.31. The stock had a trading volume of 2,492,950 shares, compared to its average volume of 2,755,743. Edwards Lifesciences has a 52-week low of $66.23 and a 52-week high of $98.11. The firm has a market cap of $58.00 billion, a price-to-earnings ratio of 74.65, a price-to-earnings-growth ratio of 2.61 and a beta of 0.97. The business has a 50-day moving average of $87.01 and a two-hundred day moving average of $85.06. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.52 and a quick ratio of 2.61.

Edwards Lifesciences (NYSE:EW) last announced its quarterly earnings results on Monday, April 19th. The medical research company reported $0.54 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.47 by $0.07. Edwards Lifesciences had a net margin of 18.18% and a return on equity of 29.00%. The company had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter last year, the firm earned $0.50 earnings per share. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year. Research analysts predict that Edwards Lifesciences will post 1.89 earnings per share for the current year.

About Edwards Lifesciences

Edwards Lifesciences Corporation provides products and technologies for structural heart disease, and critical care and surgical monitoring in the United States, Europe, Japan, and internationally. It offers transcatheter heart valve replacement products for the minimally invasive replacement of heart valves; and transcatheter heart valve repair and replacement products to treat mitral and tricuspid valve diseases.

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