Key Points
- Edwards Lifesciences VP Donald Bobo Jr. sold 48,900 shares for about $5.04 million, reducing his stake by 68.2% to 22,798 shares. The sale was made under a pre-arranged Rule 10b5-1 trading plan.
- The company’s latest quarter beat estimates, with EPS of $0.80 versus $0.74 expected and revenue of $1.72 billion, up 10.5% year over year.
- Analysts give the stock a “Moderate Buy” consensus rating, with an average price target of $108.88.
Edwards Lifesciences Corporation (NYSE:EW - Get Free Report) VP Donald Bobo, Jr. sold 48,900 shares of the company's stock in a transaction dated Monday, November 9th. The stock was sold at an average price of $103.05, for a total transaction of $5,039,145.00. Following the completion of the transaction, the vice president owned 22,798 shares of the company's stock, valued at approximately $2,349,333.90. This trade represents a 68.20% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Edwards Lifesciences Price Performance
Shares of NYSE:EW opened at $104.72 on Tuesday. The firm's 50 day moving average is $89.21 and its two-hundred day moving average is $85.88. The firm has a market capitalization of $60.29 billion, a P/E ratio of 59.16, a PEG ratio of 2.60 and a beta of 0.85. The company has a current ratio of 4.52, a quick ratio of 3.77 and a debt-to-equity ratio of 0.06. Edwards Lifesciences Corporation has a 52 week low of $74.66 and a 52 week high of $105.37.
Edwards Lifesciences (NYSE:EW - Get Free Report) last issued its quarterly earnings data on Wednesday, November 4th. The medical research company reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.06. The business had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.68 billion. Edwards Lifesciences had a return on equity of 16.25% and a net margin of 15.30%. The business's revenue was up 10.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.67 earnings per share. Analysts anticipate that Edwards Lifesciences Corporation will post 3.02 earnings per share for the current year.
Institutional Investors Weigh In On Edwards Lifesciences
A number of institutional investors have recently added to or reduced their stakes in EW. Intech Investment Management LLC boosted its stake in Edwards Lifesciences by 123.9% during the 3rd quarter. Intech Investment Management LLC now owns 192,699 shares of the medical research company's stock valued at $16,634,000 after purchasing an additional 106,642 shares in the last quarter. Thoroughbred Financial Services LLC raised its stake in shares of Edwards Lifesciences by 22.4% in the 3rd quarter. Thoroughbred Financial Services LLC now owns 6,297 shares of the medical research company's stock worth $543,000 after buying an additional 1,153 shares in the last quarter. Bessemer Group Inc. lifted its holdings in shares of Edwards Lifesciences by 0.4% in the third quarter. Bessemer Group Inc. now owns 28,358 shares of the medical research company's stock valued at $2,447,000 after buying an additional 114 shares during the period. Hantz Financial Services Inc. lifted its holdings in shares of Edwards Lifesciences by 53.5% in the third quarter. Hantz Financial Services Inc. now owns 2,745 shares of the medical research company's stock valued at $237,000 after buying an additional 957 shares during the period. Finally, IFG Advisory LLC lifted its holdings in shares of Edwards Lifesciences by 14.1% in the third quarter. IFG Advisory LLC now owns 7,586 shares of the medical research company's stock valued at $655,000 after buying an additional 938 shares during the period. 79.46% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of research analysts have issued reports on the company. The Goldman Sachs Group boosted their price target on Edwards Lifesciences from $98.00 to $102.00 and gave the stock a "buy" rating in a research report on Tuesday, July 14th. Evercore reissued an "outperform" rating on shares of Edwards Lifesciences in a research note on Friday, October 23rd. Jefferies Financial Group raised their price target on Edwards Lifesciences from $102.00 to $105.00 and gave the company a "buy" rating in a report on Friday, July 24th. Truist Financial set a $113.00 price objective on shares of Edwards Lifesciences and gave the company a "buy" rating in a research note on Wednesday, November 4th. Finally, Piper Sandler reaffirmed an "overweight" rating and issued a $115.00 price objective (up from $101.00) on shares of Edwards Lifesciences in a report on Thursday, November 5th. Twenty-three equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, Edwards Lifesciences presently has an average rating of "Moderate Buy" and a consensus target price of $108.88.
View Our Latest Research Report on Edwards Lifesciences
About Edwards Lifesciences
(
Get Free Report)
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.
Its structural heart portfolio includes transcatheter aortic valve replacement (TAVR) systems and therapies addressing mitral and tricuspid valve disease.
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