Edwards Lifesciences (NYSE:EW) VP Daniel Lippis Sells 619 Shares of Stock

Key Points

• Edwards Lifesciences VP Daniel Lippis sold 619 shares for $64,530.75, leaving him with 40,034 shares. The sale was made under a pre-arranged Rule 10b5-1 trading plan.
• The company beat quarterly earnings and revenue estimates, reporting EPS of $0.80 and revenue of $1.72 billion; revenue grew 10.5% year over year.
• Analyst sentiment was broadly positive: 23 analysts rated the stock Buy and three Hold, for a consensus “Moderate Buy” rating and an average price target of $108.88.

Edwards Lifesciences Corporation (NYSE:EW - Get Free Report) VP Daniel Lippis sold 619 shares of Edwards Lifesciences stock in a transaction dated Tuesday, November 10th. The stock was sold at an average price of $104.25, for a total value of $64,530.75. Following the completion of the transaction, the vice president directly owned 40,034 shares of the company's stock, valued at approximately $4,173,544.50. This represents a 1.52% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Edwards Lifesciences Stock Down 0.7%

Shares of NYSE EW traded down $0.74 during midday trading on Tuesday, hitting $103.97. The stock had a trading volume of 3,754,341 shares, compared to its average volume of 4,541,103. The company has a market cap of $59.86 billion, a P/E ratio of 58.74, a PEG ratio of 2.60 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 quick ratio of 3.77, a current ratio of 4.52 and a debt-to-equity ratio of 0.06. The business's 50 day moving average is $89.21 and its 200-day moving average is $85.88.

Edwards Lifesciences (NYSE:EW - Get Free Report) last issued its earnings results on Wednesday, November 4th. The medical research company reported $0.80 EPS for the quarter, beating the consensus estimate of $0.74 by $0.06. Edwards Lifesciences had a return on equity of 16.25% and a net margin of 15.30%. The business had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.68 billion. During the same period last year, the business posted $0.67 EPS. The company's revenue was up 10.5% compared to the same quarter last year. As a group, analysts predict that Edwards Lifesciences Corporation will post 3.02 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on EW shares. Barclays increased their price target on shares of Edwards Lifesciences from $110.00 to $120.00 and gave the stock an "overweight" rating in a research report on Thursday, November 5th. BTIG Research boosted their price objective on shares of Edwards Lifesciences from $110.00 to $115.00 and gave the company a "buy" rating in a research report on Thursday, November 5th. Mizuho set a $120.00 price objective on Edwards Lifesciences in a research note on Thursday, November 5th. Argus raised their target price on Edwards Lifesciences from $105.00 to $115.00 and gave the stock a "buy" rating in a report on Friday, August 21st. Finally, Evercore reiterated an "outperform" rating on shares of Edwards Lifesciences in a research report on Friday, October 23rd. Twenty-three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $108.88.

Hedge Funds Weigh In On Edwards Lifesciences

Several large investors have recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in Edwards Lifesciences in the 2nd quarter worth $5,318,092,000. Bank of New York Mellon Corp bought a new stake in Edwards Lifesciences during the second quarter valued at about $1,274,082,000. Bank of America Corp DE bought a new stake in Edwards Lifesciences during the second quarter valued at about $605,397,000. Deutsche Bank AG purchased a new position in shares of Edwards Lifesciences in the second quarter valued at about $516,552,000. Finally, Legal & General Group Plc purchased a new position in shares of Edwards Lifesciences in the second quarter valued at about $389,089,000. Hedge funds and other institutional investors 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.

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