Edwards Lifesciences (NYSE:EW) Sets New 12-Month High - Here's What Happened

Key Points

• Edwards Lifesciences hit a new 52-week high, reaching $99.68 and trading around $99.12 after a previous close of $95.19.
• Analyst sentiment is broadly positive: the stock has a “Moderate Buy” consensus and an average price target of $101.88; RBC raised its target to $110 and Raymond James to $103.
• Company insiders sold 5,045 shares worth about $451,600 during the last quarter; institutional investors own 79.46% of the stock.

Edwards Lifesciences Corporation (NYSE:EW - Get Free Report) reached a new 52-week high during trading on Wednesday. The company traded as high as $99.68 and last traded at $99.1210, with a volume of 415,242 shares traded. The stock had previously closed at $95.19.

Analysts Set New Price Targets

Several research firms recently weighed in on EW. Barclays raised Edwards Lifesciences to a "strong-buy" rating in a research report on Wednesday, October 7th. Royal Bank Of Canada upped their price objective on shares of Edwards Lifesciences from $100.00 to $110.00 and gave the stock an "outperform" rating in a report on Monday, July 13th. Raymond James Financial upped their price target on shares of Edwards Lifesciences from $100.00 to $103.00 and gave the company an "outperform" rating in a report on Friday, July 24th. Weiss Ratings restated a "hold (c)" rating on shares of Edwards Lifesciences in a research note on Thursday, October 15th. Finally, TD Cowen reissued a "buy" rating on shares of Edwards Lifesciences in a research report on Tuesday, October 27th. One research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and six have given 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 $101.88.

Edwards Lifesciences Stock Up 3.9%

The company has a debt-to-equity ratio of 0.06, a quick ratio of 3.77 and a current ratio of 4.52. The firm has a market capitalization of $56.93 billion, a P/E ratio of 56.56, a PEG ratio of 2.44 and a beta of 0.85. The firm's 50-day moving average is $88.31 and its 200 day moving average is $85.53.

Insider Activity

In other Edwards Lifesciences news, VP Annette Brüls sold 2,644 shares of the company's stock in a transaction on Friday, August 28th. The stock was sold at an average price of $89.98, for a total value of $237,907.12. Following the transaction, the vice president directly owned 17,984 shares of the company's stock, valued at $1,618,200.32. This represents a 12.82% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Andrew M. Dahl sold 544 shares of the business's stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $91.06, for a total value of $49,536.64. Following the completion of the sale, the senior vice president owned 14,868 shares of the company's stock, valued at approximately $1,353,880.08. This trade represents a 3.53% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 5,045 shares of company stock valued at $451,596 in the last quarter. Company insiders own 0.31% of the company's stock.

Institutional Trading of Edwards Lifesciences

Several institutional investors and hedge funds have recently modified their holdings of EW. Hohimer Wealth Management LLC raised its stake in shares of Edwards Lifesciences by 6.6% during the 3rd quarter. Hohimer Wealth Management LLC now owns 51,965 shares of the medical research company's stock worth $4,486,000 after purchasing an additional 3,208 shares during the period. University of Texas Texas AM Investment Management Co. purchased a new position in shares of Edwards Lifesciences in the 3rd quarter worth about $82,000. M Holdings Securities Inc. bought a new position in Edwards Lifesciences during the third quarter valued at about $379,000. W.G. Shaheen & Associates DBA Whitney & Co grew its position in Edwards Lifesciences by 0.5% during the third quarter. W.G. Shaheen & Associates DBA Whitney & Co now owns 178,438 shares of the medical research company's stock valued at $15,403,000 after buying an additional 975 shares during the period. Finally, Ashton Thomas Private Wealth LLC grew its position in Edwards Lifesciences by 10.3% during the third quarter. Ashton Thomas Private Wealth LLC now owns 5,195 shares of the medical research company's stock valued at $448,000 after buying an additional 483 shares during the period. 79.46% of the stock is currently owned by institutional investors.

Edwards Lifesciences Company Profile

Edwards Lifesciences Corporation NYSE: EW is a medical technology company focused on therapies for structural heart disease and critical care. The company develops and manufactures products designed to treat conditions affecting the heart's valves, including aortic, mitral and tricuspid valve disorders.

Its portfolio includes transcatheter aortic valve replacement systems, transcatheter mitral and tricuspid therapies, surgical heart valves and valve-repair technologies. Edwards also provides related delivery systems and other medical devices used by physicians in minimally invasive and open-heart procedures.

Founded in 1958 by Miles Lowell Edwards, the company is headquartered in Irvine, California, and serves healthcare providers and patients internationally.

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