Insider Selling: Edwards Lifesciences Co. (NYSE:EW) Director Sells 29,350 Shares of Stock

Edwards Lifesciences Co. (NYSE:EW) Director Michael A. Mussallem sold 29,350 shares of the business’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $84.77, for a total transaction of $2,487,999.50. Following the sale, the director now owns 4,486 shares in the company, valued at $380,278.22. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Edwards Lifesciences Trading Up 0.9 %

Shares of NYSE EW traded up $0.76 on Thursday, reaching $85.06. 1,936,563 shares of the company traded hands, compared to its average volume of 3,789,544. Edwards Lifesciences Co. has a fifty-two week low of $60.57 and a fifty-two week high of $96.12. The company has a 50 day moving average of $90.18 and a 200 day moving average of $79.19. The company has a current ratio of 3.75, a quick ratio of 2.67 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $51.26 billion, a PE ratio of 36.31, a P/E/G ratio of 3.56 and a beta of 1.10.

Edwards Lifesciences (NYSE:EW) last posted its quarterly earnings data on Thursday, April 25th. The medical research company reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.02. Edwards Lifesciences had a net margin of 23.01% and a return on equity of 22.86%. The company had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.58 billion. On average, equities research analysts forecast that Edwards Lifesciences Co. will post 2.77 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on EW shares. Bank of America upgraded shares of Edwards Lifesciences from a “neutral” rating to a “buy” rating in a research report on Thursday, March 7th. Wells Fargo & Company boosted their price objective on shares of Edwards Lifesciences from $94.00 to $99.00 and gave the stock an “overweight” rating in a research report on Friday, April 26th. Oppenheimer boosted their price objective on shares of Edwards Lifesciences from $93.00 to $100.00 and gave the stock an “outperform” rating in a research report on Monday, March 18th. StockNews.com upgraded shares of Edwards Lifesciences from a “hold” rating to a “buy” rating in a research report on Monday. Finally, Evercore ISI decreased their price objective on shares of Edwards Lifesciences from $92.00 to $89.00 and set an “in-line” rating on the stock in a research report on Friday, April 26th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $92.71.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Nordea Investment Management AB increased its position in Edwards Lifesciences by 1,224.1% during the 4th quarter. Nordea Investment Management AB now owns 1,610,412 shares of the medical research company’s stock worth $123,261,000 after purchasing an additional 1,488,791 shares in the last quarter. Telos Capital Management Inc. increased its position in Edwards Lifesciences by 158.2% during the 4th quarter. Telos Capital Management Inc. now owns 91,405 shares of the medical research company’s stock worth $6,970,000 after purchasing an additional 56,000 shares in the last quarter. Arlington Trust Co LLC increased its position in Edwards Lifesciences by 5,092.4% during the 4th quarter. Arlington Trust Co LLC now owns 12,306 shares of the medical research company’s stock worth $938,000 after purchasing an additional 12,069 shares in the last quarter. Versor Investments LP increased its position in Edwards Lifesciences by 83.3% during the 3rd quarter. Versor Investments LP now owns 4,496 shares of the medical research company’s stock worth $311,000 after purchasing an additional 2,043 shares in the last quarter. Finally, HealthInvest Partners AB acquired a new stake in Edwards Lifesciences during the 4th quarter worth approximately $1,587,000. Institutional investors and hedge funds 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.