Traders Buy Edwards Lifesciences Corp. (EW) on Weakness
Investors bought shares of Edwards Lifesciences Corp. (NYSE:EW) on weakness during trading hours on Friday. $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 stocks tracked, Edwards Lifesciences Corp. had the 43rd 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 equities analysts recently commented on EW shares. Canaccord Genuity increased their price objective on Edwards Lifesciences Corp. from $123.00 to $132.00 and gave the stock a “buy” rating in a report on Monday, May 23rd. Piper Jaffray Cos. restated an “overweight” rating and issued a $123.00 price objective on shares of Edwards Lifesciences Corp. in a report on Wednesday, May 25th. JMP Securities restated a “mkt perform” rating on shares of Edwards Lifesciences Corp. in a report on Wednesday, June 1st. Guggenheim started coverage on Edwards Lifesciences Corp. in a report on Wednesday, June 8th. They issued a “neutral” rating on the stock. Finally, Credit Suisse Group AG restated a “buy” rating on shares of Edwards Lifesciences Corp. in a report on Wednesday, June 8th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-one have given a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $118.13.
The stock has a market capitalization of $24.66 billion and a PE ratio of 47.87. The company has a 50 day moving average price of $112.70 and a 200 day moving average price of $101.71.
Edwards Lifesciences Corp. (NYSE:EW) last issued its quarterly earnings data on Tuesday, July 26th. The medical research company reported $0.76 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.06. During the same period in the prior year, the company earned $0.57 earnings per share. The firm earned $759.30 million during the quarter, compared to analyst estimates of $724.26 million. The business’s quarterly revenue was up 23.1% compared to the same quarter last year. Equities research analysts anticipate that Edwards Lifesciences Corp. will post $2.88 EPS for the current year.
In other news, CEO Michael A. Mussallem sold 49,100 shares of the stock in a transaction on Wednesday, June 8th. The stock was sold at an average price of $102.75, for a total transaction of $5,045,025.00. Following the sale, the chief executive officer now directly owns 127,341 shares of the company’s stock, valued at approximately $13,084,287.75. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Patrick B. Verguet sold 10,092 shares of the stock in a transaction on Tuesday, August 23rd. The stock was sold at an average price of $117.53, for a total value of $1,186,112.76. The disclosure for this sale can be found here.
A hedge fund recently raised its stake in Edwards Lifesciences Corp. stock. State of Tennessee Treasury Department increased its stake in Edwards Lifesciences Corp. (NYSE:EW) by 47.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (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 filing with the SEC.
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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