Edwards Lifesciences (NYSE:EW) Shares Gap Down to $92.37

Edwards Lifesciences Co. (NYSE:EW)’s stock price gapped down prior to trading on Monday . The stock had previously closed at $92.37, but opened at $90.30. Edwards Lifesciences shares last traded at $92.72, with a volume of 506,856 shares changing hands.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on EW. Citigroup upgraded shares of Edwards Lifesciences from a “neutral” rating to a “buy” rating and raised their target price for the company from $98.00 to $105.00 in a research note on Wednesday, May 22nd. Royal Bank of Canada lifted their price target on shares of Edwards Lifesciences from $95.00 to $101.00 and gave the company an “outperform” rating in a research report on Monday, April 15th. Bank of America upgraded shares of Edwards Lifesciences from a “neutral” rating to a “buy” rating in a research report on Thursday, March 7th. Piper Sandler lifted their price target on shares of Edwards Lifesciences from $85.00 to $88.00 and gave the company a “neutral” rating in a research report on Friday, April 26th. Finally, Wells Fargo & Company lifted their price target on shares of Edwards Lifesciences from $94.00 to $99.00 and gave the company an “overweight” rating in a research report on Friday, April 26th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $95.06.

Edwards Lifesciences Trading Down 0.8 %

The business’s 50 day simple moving average is $87.85 and its two-hundred day simple moving average is $85.37. The stock has a market cap of $55.20 billion, a P/E ratio of 39.22, a PEG ratio of 3.38 and a beta of 1.11. The company has a quick ratio of 2.67, a current ratio of 3.75 and a debt-to-equity ratio of 0.08.

Edwards Lifesciences (NYSE:EW) last issued its quarterly earnings data on Thursday, April 25th. The medical research company reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.02. Edwards Lifesciences had a net margin of 23.01% and a return on equity of 22.86%. The company had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.58 billion. As a group, analysts expect that Edwards Lifesciences Co. will post 2.77 EPS for the current year.

Insider Buying and Selling

In other Edwards Lifesciences news, CEO Bernard J. Zovighian acquired 580 shares of Edwards Lifesciences stock in a transaction that occurred on Monday, May 6th. The shares were bought at an average price of $85.74 per share, with a total value of $49,729.20. Following the completion of the purchase, the chief executive officer now directly owns 3,268 shares in the company, valued at approximately $280,198.32. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Bernard J. Zovighian bought 580 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The shares were acquired at an average price of $85.74 per share, for a total transaction of $49,729.20. Following the completion of the acquisition, the chief executive officer now directly owns 3,268 shares in the company, valued at $280,198.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Daniel J. Lippis sold 857 shares of the business’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $85.60, for a total transaction of $73,359.20. Following the completion of the transaction, the vice president now owns 23,890 shares in the company, valued at approximately $2,044,984. The disclosure for this sale can be found here. Insiders have sold a total of 119,849 shares of company stock valued at $10,579,038 over the last 90 days. 1.27% of the stock is owned by insiders.

Hedge Funds Weigh In On Edwards Lifesciences

Institutional investors have recently made changes to their positions in the stock. Nordea Investment Management AB raised its holdings in shares of Edwards Lifesciences by 1,224.1% during the fourth quarter. Nordea Investment Management AB now owns 1,610,412 shares of the medical research company’s stock valued at $123,261,000 after purchasing an additional 1,488,791 shares during the period. Telos Capital Management Inc. raised its holdings in shares of Edwards Lifesciences by 158.2% during the fourth quarter. Telos Capital Management Inc. now owns 91,405 shares of the medical research company’s stock valued at $6,970,000 after purchasing an additional 56,000 shares during the period. Arlington Trust Co LLC increased its position in shares of Edwards Lifesciences by 5,092.4% during the fourth quarter. Arlington Trust Co LLC now owns 12,306 shares of the medical research company’s stock worth $938,000 after acquiring an additional 12,069 shares in the last quarter. HealthInvest Partners AB bought a new stake in shares of Edwards Lifesciences during the fourth quarter worth about $1,587,000. Finally, Ninety One UK Ltd increased its position in shares of Edwards Lifesciences by 2,740.5% during the fourth quarter. Ninety One UK Ltd now owns 498,029 shares of the medical research company’s stock worth $37,975,000 after acquiring an additional 480,496 shares in the last quarter. Institutional investors and hedge funds 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.