Edwards Lifesciences Corporation (NYSE:EW) VP Sells $326,898.44 in Stock

Key Points

• VP Daniel J. Lippis of Edwards Lifesciences sold 4,114 shares for approximately $326,898.44, reducing his position by 15.75% and retaining 22,002 shares valued at around $1.75 million.
• The company's recent earnings report showed $1.53 billion in revenue for the quarter, exceeding estimates, with an EPS of $0.67, surpassing the consensus of $0.62.
• Analysts have set a consensus price target of $85.00 for Edwards Lifesciences, with classifications ranging from "sell" to "strong buy."

Edwards Lifesciences Corporation (NYSE:EW - Get Free Report) VP Daniel J. Lippis sold 4,114 shares of the firm's stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $79.46, for a total transaction of $326,898.44. Following the completion of the transaction, the vice president directly owned 22,002 shares in the company, valued at approximately $1,748,278.92. The trade was a 15.75% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Edwards Lifesciences Price Performance

NYSE:EW traded down $1.54 during midday trading on Monday, hitting $78.46. The company had a trading volume of 6,024,534 shares, compared to its average volume of 4,575,740. The stock's fifty day moving average price is $76.58 and its 200-day moving average price is $73.55. The company has a quick ratio of 3.66, a current ratio of 4.45 and a debt-to-equity ratio of 0.06. Edwards Lifesciences Corporation has a 52-week low of $59.41 and a 52-week high of $83.00. The company has a market capitalization of $46.02 billion, a PE ratio of 11.29, a P/E/G ratio of 4.00 and a beta of 1.11.

Edwards Lifesciences (NYSE:EW - Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The medical research company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.05. Edwards Lifesciences had a net margin of 72.96% and a return on equity of 15.25%. The business had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.49 billion. During the same period in the prior year, the business posted $0.70 earnings per share. The company's revenue was up 11.9% on a year-over-year basis. As a group, research analysts expect that Edwards Lifesciences Corporation will post 2.45 earnings per share for the current year.

Hedge Funds Weigh In On Edwards Lifesciences

Several hedge funds and other institutional investors have recently modified their holdings of EW. Wellington Management Group LLP raised its stake in Edwards Lifesciences by 5.3% in the fourth quarter. Wellington Management Group LLP now owns 33,210,879 shares of the medical research company's stock worth $2,458,601,000 after buying an additional 1,678,154 shares in the last quarter. Geode Capital Management LLC raised its stake in Edwards Lifesciences by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 13,647,341 shares of the medical research company's stock worth $1,007,520,000 after buying an additional 126,194 shares in the last quarter. Jennison Associates LLC raised its stake in Edwards Lifesciences by 34.3% in the first quarter. Jennison Associates LLC now owns 10,086,033 shares of the medical research company's stock worth $731,036,000 after buying an additional 2,576,383 shares in the last quarter. Brown Advisory Inc. raised its stake in Edwards Lifesciences by 7.6% in the fourth quarter. Brown Advisory Inc. now owns 8,155,355 shares of the medical research company's stock worth $603,741,000 after buying an additional 575,699 shares in the last quarter. Finally, Deutsche Bank AG increased its stake in shares of Edwards Lifesciences by 10.4% during the fourth quarter. Deutsche Bank AG now owns 6,903,202 shares of the medical research company's stock valued at $511,044,000 after purchasing an additional 652,923 shares in the last quarter. 79.46% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have commented on EW shares. Morgan Stanley lifted their target price on shares of Edwards Lifesciences from $75.00 to $81.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 15th. Argus raised shares of Edwards Lifesciences to a "strong-buy" rating in a report on Thursday, July 10th. Barclays lifted their price target on shares of Edwards Lifesciences from $90.00 to $95.00 and gave the stock an "overweight" rating in a report on Friday. Royal Bank Of Canada lifted their price objective on shares of Edwards Lifesciences from $85.00 to $89.00 and gave the company an "outperform" rating in a research note on Friday. Finally, The Goldman Sachs Group reiterated a "buy" rating on shares of Edwards Lifesciences in a research report on Friday. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Edwards Lifesciences presently has a consensus rating of "Moderate Buy" and a consensus price target of $85.00.

About Edwards Lifesciences

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.

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