Insider Selling: Edwards Lifesciences Co. (NYSE:EW) Insider Sells 8,950 Shares of Stock

Edwards Lifesciences Co. (NYSE:EW - Get Free Report) insider Larry L. Wood sold 8,950 shares of Edwards Lifesciences stock in a transaction on Monday, June 16th. The shares were sold at an average price of $75.23, for a total value of $673,308.50. Following the sale, the insider now directly owns 206,900 shares of the company's stock, valued at $15,565,087. This represents a 4.15% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Edwards Lifesciences Trading Down 0.5%

EW traded down $0.35 on Monday, hitting $74.80. 2,891,030 shares of the company were exchanged, compared to its average volume of 5,231,925. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.89 and a current ratio of 3.46. The firm has a fifty day simple moving average of $74.54 and a two-hundred day simple moving average of $72.93. The stock has a market capitalization of $43.88 billion, a PE ratio of 10.73, a price-to-earnings-growth ratio of 4.82 and a beta of 1.12. Edwards Lifesciences Co. has a 12 month low of $58.93 and a 12 month high of $95.25.

Edwards Lifesciences (NYSE:EW - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The medical research company reported $0.64 earnings per share for the quarter, beating analysts' consensus estimates of $0.60 by $0.04. Edwards Lifesciences had a return on equity of 19.40% and a net margin of 72.93%. The firm had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.40 billion. During the same quarter in the prior year, the firm posted $0.66 earnings per share. The business's quarterly revenue was up 6.2% compared to the same quarter last year. Sell-side analysts expect that Edwards Lifesciences Co. will post 2.45 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on EW. Wall Street Zen downgraded Edwards Lifesciences from a "buy" rating to a "hold" rating in a research report on Friday, May 16th. Canaccord Genuity Group raised their target price on shares of Edwards Lifesciences from $71.00 to $75.00 and gave the company a "hold" rating in a research note on Friday, April 25th. Citigroup reissued a "buy" rating and issued a $95.00 price target (up previously from $84.00) on shares of Edwards Lifesciences in a research note on Thursday, May 22nd. Piper Sandler raised their price objective on shares of Edwards Lifesciences from $80.00 to $83.00 and gave the company an "overweight" rating in a research report on Tuesday, May 13th. Finally, Truist Financial dropped their price objective on shares of Edwards Lifesciences from $78.00 to $75.00 and set a "hold" rating for the company in a report on Friday, April 11th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $80.20.

Institutional Investors Weigh In On Edwards Lifesciences

Several institutional investors have recently added to or reduced their stakes in the company. Crowley Wealth Management Inc. purchased a new stake in shares of Edwards Lifesciences during the fourth quarter worth about $26,000. Quantbot Technologies LP bought a new position in Edwards Lifesciences during the 1st quarter valued at approximately $26,000. Vega Investment Solutions purchased a new stake in Edwards Lifesciences in the 4th quarter worth approximately $27,000. SouthState Corp purchased a new stake in Edwards Lifesciences in the 1st quarter worth approximately $27,000. Finally, Millstone Evans Group LLC purchased a new position in shares of Edwards Lifesciences during the fourth quarter valued at approximately $29,000. Hedge funds and other institutional investors own 79.46% of the company's stock.

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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