Edwards Lifesciences Co. (NYSE:EW) CFO Scott B. Ullem Sells 11,250 Shares

Edwards Lifesciences Co. (NYSE:EW) CFO Scott B. Ullem sold 11,250 shares of the stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $70.78, for a total value of $796,275.00. Following the completion of the sale, the chief financial officer now owns 30,387 shares of the company’s stock, valued at approximately $2,150,791.86. This trade represents a 27.02 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Edwards Lifesciences Stock Performance

Shares of EW opened at $71.61 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.46 and a quick ratio of 2.89. The stock has a market cap of $42.24 billion, a price-to-earnings ratio of 10.27, a PEG ratio of 4.82 and a beta of 1.10. The company has a 50-day moving average of $72.64 and a two-hundred day moving average of $70.24. Edwards Lifesciences Co. has a one year low of $58.93 and a one year high of $96.12.

Edwards Lifesciences (NYSE:EW) last posted its quarterly earnings results on Tuesday, February 11th. The medical research company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.55 by $0.04. Edwards Lifesciences had a net margin of 72.93% and a return on equity of 19.40%. On average, equities research analysts expect that Edwards Lifesciences Co. will post 2.45 earnings per share for the current year.

Hedge Funds Weigh In On Edwards Lifesciences

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in shares of Edwards Lifesciences by 10.4% in the fourth quarter. Vanguard Group Inc. now owns 69,132,036 shares of the medical research company’s stock valued at $5,117,845,000 after purchasing an additional 6,537,494 shares during the period. Wellington Management Group LLP raised its position in shares of Edwards Lifesciences by 5.3% in the fourth quarter. Wellington Management Group LLP now owns 33,210,879 shares of the medical research company’s stock valued at $2,458,601,000 after purchasing an additional 1,678,154 shares during the period. State Street Corp raised its position in shares of Edwards Lifesciences by 1.0% in the third quarter. State Street Corp now owns 26,265,633 shares of the medical research company’s stock valued at $1,733,270,000 after purchasing an additional 256,538 shares during the period. Geode Capital Management LLC raised its position in shares of Edwards Lifesciences by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 13,647,341 shares of the medical research company’s stock valued at $1,007,520,000 after purchasing an additional 126,194 shares during the period. Finally, Fisher Asset Management LLC raised its position in shares of Edwards Lifesciences by 7.7% in the fourth quarter. Fisher Asset Management LLC now owns 9,775,276 shares of the medical research company’s stock valued at $723,664,000 after purchasing an additional 696,965 shares during the period. Institutional investors own 79.46% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on EW shares. Royal Bank of Canada restated an “outperform” rating and set a $85.00 price objective on shares of Edwards Lifesciences in a research note on Wednesday, February 12th. Truist Financial restated a “hold” rating and set a $78.00 price objective (up previously from $70.00) on shares of Edwards Lifesciences in a research note on Thursday, December 5th. Barclays raised their price objective on Edwards Lifesciences from $88.00 to $90.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Citigroup raised their price objective on Edwards Lifesciences from $81.00 to $83.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. Finally, Stifel Nicolaus upgraded Edwards Lifesciences from a “hold” rating to a “buy” rating and raised their price objective for the company from $75.00 to $90.00 in a research note on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, Edwards Lifesciences presently has a consensus rating of “Hold” and a consensus target price of $79.95.

Edwards Lifesciences Company Profile

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.