Edwards Lifesciences Co. (NYSE:EW) CFO Sells $796,275.00 in Stock

Edwards Lifesciences Co. (NYSE:EW) CFO Scott B. Ullem sold 11,250 shares of Edwards Lifesciences stock in a transaction on Friday, February 28th. The stock was sold at an average price of $70.78, for a total value of $796,275.00. Following the transaction, the chief financial officer now owns 30,387 shares in the company, valued at approximately $2,150,791.86. This represents a 27.02 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Edwards Lifesciences Stock Performance

Shares of Edwards Lifesciences stock opened at $71.61 on Monday. Edwards Lifesciences Co. has a one year low of $58.93 and a one year high of $96.12. The company has a market cap of $42.24 billion, a PE ratio of 10.27, a P/E/G ratio of 4.82 and a beta of 1.10. 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 business has a 50-day simple moving average of $72.64 and a 200-day simple moving average of $70.29.

Edwards Lifesciences (NYSE:EW) last announced its quarterly earnings data on Tuesday, February 11th. The medical research company reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.04. Edwards Lifesciences had a return on equity of 19.40% and a net margin of 72.93%. On average, equities research analysts forecast that Edwards Lifesciences Co. will post 2.45 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

EW has been the topic of several analyst reports. Morgan Stanley lifted their price target on Edwards Lifesciences from $70.00 to $75.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 12th. Truist Financial restated a “hold” rating and issued a $78.00 price objective (up from $70.00) on shares of Edwards Lifesciences in a report on Thursday, December 5th. Wolfe Research lowered shares of Edwards Lifesciences from a “hold” rating to a “strong sell” rating in a report on Wednesday, February 12th. Citigroup boosted their price objective on shares of Edwards Lifesciences from $81.00 to $83.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Finally, Evercore ISI reduced their price objective on shares of Edwards Lifesciences from $75.00 to $73.00 and set an “in-line” rating on the stock in a report on Wednesday, February 12th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $79.95.

Hedge Funds Weigh In On Edwards Lifesciences

Institutional investors and hedge funds have recently made changes to their positions in the stock. Wellington Management Group LLP boosted its holdings in Edwards Lifesciences by 86.3% in the third quarter. Wellington Management Group LLP now owns 31,532,725 shares of the medical research company’s stock valued at $2,080,845,000 after purchasing an additional 14,610,123 shares in the last quarter. Norges Bank acquired a new position in Edwards Lifesciences in the fourth quarter valued at approximately $610,895,000. Jennison Associates LLC acquired a new position in Edwards Lifesciences in the fourth quarter valued at approximately $555,939,000. Vanguard Group Inc. boosted its holdings in Edwards Lifesciences by 10.4% in the fourth quarter. Vanguard Group Inc. now owns 69,132,036 shares of the medical research company’s stock valued at $5,117,845,000 after purchasing an additional 6,537,494 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its holdings in Edwards Lifesciences by 475.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 4,243,976 shares of the medical research company’s stock valued at $314,182,000 after purchasing an additional 3,506,886 shares in the last quarter. 79.46% of the stock is owned by institutional investors and hedge funds.

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.