Edwards Lifesciences (NYSE:EW) Stock Price Down 0.1%

Edwards Lifesciences Co. (NYSE:EW) shares dropped 0.1% during trading on Wednesday . The stock traded as low as $86.68 and last traded at $87.33. Approximately 261,376 shares changed hands during mid-day trading, a decline of 92% from the average daily volume of 3,471,834 shares. The stock had previously closed at $87.41.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Wells Fargo & Company boosted their price objective on Edwards Lifesciences from $94.00 to $99.00 and gave the company an “overweight” rating in a research report on Friday, April 26th. Barclays boosted their price objective on Edwards Lifesciences from $100.00 to $101.00 and gave the company an “overweight” rating in a research report on Tuesday, May 7th. Piper Sandler boosted their price objective on Edwards Lifesciences from $85.00 to $88.00 and gave the company a “neutral” rating in a research report on Friday, April 26th. Royal Bank of Canada boosted their price objective on Edwards Lifesciences from $95.00 to $101.00 and gave the company an “outperform” rating in a research report on Monday, April 15th. Finally, Citigroup upgraded Edwards Lifesciences from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $98.00 to $105.00 in a research report on Wednesday, May 22nd. One 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. According to data from MarketBeat, Edwards Lifesciences currently has an average rating of “Moderate Buy” and a consensus price target of $95.06.

Edwards Lifesciences Stock Up 0.0 %

The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.67 and a current ratio of 3.75. The stock has a 50 day moving average price of $88.82 and a 200 day moving average price of $82.81. The company has a market cap of $52.69 billion, a P/E ratio of 37.64, a P/E/G ratio of 3.21 and a beta of 1.11.

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

Insider Activity

In other Edwards Lifesciences news, CEO Bernard J. Zovighian bought 580 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The stock was purchased at an average price of $85.74 per share, for a total transaction of $49,729.20. Following the purchase, the chief executive officer now directly owns 3,268 shares in the company, valued at $280,198.32. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Bernard J. Zovighian acquired 580 shares of Edwards Lifesciences stock in a transaction on Monday, May 6th. The stock was bought at an average price of $85.74 per share, for a total transaction of $49,729.20. Following the transaction, the chief executive officer now owns 3,268 shares of the company’s stock, valued at $280,198.32. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Bernard J. Zovighian sold 8,617 shares of the firm’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $87.68, for a total value of $755,538.56. Following the completion of the sale, the chief executive officer now owns 68,218 shares of the company’s stock, valued at approximately $5,981,354.24. The disclosure for this sale can be found here. In the last quarter, insiders have sold 152,719 shares of company stock valued at $13,625,632. Insiders own 1.27% of the company’s stock.

Institutional Trading of Edwards Lifesciences

Hedge funds have recently modified their holdings of the company. DSM Capital Partners LLC bought a new position in shares of Edwards Lifesciences during the 4th quarter worth approximately $28,000. Crewe Advisors LLC bought a new position in shares of Edwards Lifesciences during the 1st quarter worth approximately $28,000. Turtle Creek Wealth Advisors LLC bought a new position in shares of Edwards Lifesciences during the 4th quarter worth approximately $34,000. Riverview Trust Co acquired a new stake in Edwards Lifesciences during the 1st quarter valued at $34,000. Finally, Pingora Partners LLC acquired a new stake in Edwards Lifesciences during the 4th quarter valued at $38,000. Institutional investors 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.