Investors Buy Shares of Edwards Lifesciences Corp. (EW) on Weakness
Investors bought shares of Edwards Lifesciences Corp. (NYSE:EW) on weakness during trading on Monday. $37.53 million flowed into the stock on the tick-up and $22.32 million flowed out of the stock on the tick-down, for a money net flow of $15.21 million into the stock. Of all equities tracked, Edwards Lifesciences Corp. had the 13th highest net in-flow for the day. Edwards Lifesciences Corp. traded down ($0.02) for the day and closed at $115.85
A number of brokerages have recently commented on EW. Deutsche Bank AG upped their price target on Edwards Lifesciences Corp. from $100.00 to $115.00 and gave the company a “hold” rating in a research note on Wednesday, July 27th. JMP Securities increased their target price on Edwards Lifesciences Corp. from $125.00 to $130.00 and gave the stock a “market outperform” rating in a research note on Thursday, July 28th. JPMorgan Chase & Co. reissued a “buy” rating on shares of Edwards Lifesciences Corp. in a research note on Tuesday, July 12th. Credit Suisse Group AG reissued a “buy” rating on shares of Edwards Lifesciences Corp. in a research note on Wednesday, June 8th. Finally, Citigroup Inc. increased their target price on Edwards Lifesciences Corp. from $86.00 to $94.00 and gave the stock a “sell” rating in a research note on Wednesday, July 27th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and twenty-one have issued a buy rating to the stock. Edwards Lifesciences Corp. currently has an average rating of “Buy” and an average target price of $118.13.
The company has a 50-day moving average price of $112.70 and a 200 day moving average price of $101.71. The company has a market cap of $24.66 billion and a P/E ratio of 47.87.
Edwards Lifesciences Corp. (NYSE:EW) last announced its quarterly earnings results on Tuesday, July 26th. The medical research company reported $0.76 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.70 by $0.06. The company had revenue of $759.30 million for the quarter, compared to the consensus estimate of $724.26 million. The company’s quarterly revenue was up 23.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.57 EPS. On average, equities analysts expect that Edwards Lifesciences Corp. will post $2.88 EPS for the current fiscal year.
In other Edwards Lifesciences Corp. news, CEO Michael A. Mussallem sold 49,100 shares of the business’s stock in a transaction on Wednesday, June 8th. The stock was sold at an average price of $102.75, for a total value of $5,045,025.00. Following the transaction, the chief executive officer now owns 127,341 shares of the company’s stock, valued at $13,084,287.75. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Huimin Wang sold 13,650 shares of the business’s stock in a transaction on Tuesday, July 5th. The stock was sold at an average price of $98.44, for a total value of $1,343,706.00. The disclosure for this sale can be found here.
An institutional investor recently raised its position in Edwards Lifesciences Corp. stock. State of Tennessee Treasury Department raised its stake in Edwards Lifesciences Corp. (NYSE:EW) by 47.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 90,877 shares of the medical research company’s stock after buying an additional 29,177 shares during the period. State of Tennessee Treasury Department’s holdings in Edwards Lifesciences Corp. were worth $7,178,000 as of its most recent SEC filing.
Edwards Lifesciences Corporation is focused on technologies that treat structural heart disease and critically ill patients. The Company manufactures heart valve systems and repair products used to replace or repair a patient’s diseased or defective heart valve. It develops hemodynamic monitoring systems used to measure a patient’s cardiovascular function in the hospital setting.
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