Insider Selling: Edwards Lifesciences (NYSE:EW) VP Sells $64,530.75 in Stock

Edwards Lifesciences Corporation (NYSE:EW) VP Daniel Lippis sold 619 shares of Edwards Lifesciences stock in a transaction on Tuesday, November 10th. The shares were sold at an average price of $104.25, for a total value of $64,530.75. Following the completion of the sale, the vice president directly owned 40,034 shares of the company’s stock, valued at $4,173,544.50. The trade was a 1.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Edwards Lifesciences Stock Down 0.0%

Shares of EW opened at $105.79 on Friday. The stock has a market capitalization of $60.83 billion, a PE ratio of 59.77, a P/E/G ratio of 2.82 and a beta of 0.85. Edwards Lifesciences Corporation has a 1 year low of $74.66 and a 1 year high of $106.80. The company has a debt-to-equity ratio of 0.05, a quick ratio of 3.86 and a current ratio of 4.60. The company’s 50-day simple moving average is $90.07 and its 200-day simple moving average is $86.20.

Edwards Lifesciences (NYSE:EW) last released its earnings results on Wednesday, November 4th. The medical research company reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.06. The company had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.68 billion. Edwards Lifesciences had a net margin of 15.30% and a return on equity of 16.06%. The firm’s quarterly revenue was up 10.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.67 EPS. Analysts forecast that Edwards Lifesciences Corporation will post 3.01 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Evercore reaffirmed an “outperform” rating on shares of Edwards Lifesciences in a research report on Friday, October 23rd. Argus lifted their price target on shares of Edwards Lifesciences from $105.00 to $115.00 and gave the stock a “buy” rating in a research note on Friday, August 21st. TD Cowen boosted their price target on shares of Edwards Lifesciences from $117.00 to $121.00 and gave the company a “buy” rating in a research report on Wednesday. Mizuho set a $120.00 price objective on Edwards Lifesciences in a report on Thursday, November 5th. Finally, Rothschild & Co Redburn raised their price target on Edwards Lifesciences from $99.00 to $102.00 and gave the stock a “buy” rating in a research note on Monday, July 27th. Twenty-three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $109.56.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of EW. RMG Wealth Management LLC acquired a new position in Edwards Lifesciences during the first quarter worth about $26,000. Pin Oak Investment Advisors Inc. purchased a new stake in Edwards Lifesciences during the second quarter worth $26,000. GK Wealth Management LLC acquired a new stake in Edwards Lifesciences in the third quarter valued at $26,000. TrinityBridge Ltd purchased a new position in shares of Edwards Lifesciences in the second quarter valued at $27,000. Finally, Meeder Asset Management Inc. raised its stake in shares of Edwards Lifesciences by 175.2% during the 1st quarter. Meeder Asset Management Inc. now owns 366 shares of the medical research company’s stock worth $29,000 after buying an additional 233 shares during the last quarter. Hedge funds and other institutional investors own 79.46% of the company’s stock.

About Edwards Lifesciences

Edwards Lifesciences is a medical technology company focused on therapies for structural heart disease and critical care. Its products include transcatheter and surgical heart valves, as well as technologies used to monitor patients during intensive care and surgery. The company traces its origins to 1958, when engineer Lowell Edwards and surgeon Albert Starr began developing an artificial heart valve. Their work led to the Starr-Edwards valve, introduced in 1960. Edwards Lifesciences is headquartered in Irvine, California, and serves clinicians and patients around the world.