Key Points
- Edwards Lifesciences VP Daniel Lippis sold 619 shares at an average price of $104.25, totaling $64,530.75, under a pre-arranged Rule 10b5-1 plan. He retained 40,034 shares after the sale.
- The company reported quarterly EPS of $0.80, beating estimates of $0.74, while revenue of $1.72 billion also topped forecasts and rose 10.5% year over year.
- Analysts maintained a broadly positive outlook: 23 rated the stock a Buy and three a Hold, with a consensus price target of $108.88.
Edwards Lifesciences Corporation (NYSE:EW - Get Free Report) VP Daniel Lippis sold 619 shares of Edwards Lifesciences stock in a transaction that occurred on Tuesday, November 10th. The stock was sold at an average price of $104.25, for a total value of $64,530.75. Following the transaction, the vice president owned 40,034 shares of the company's stock, valued at $4,173,544.50. This represents a 1.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Edwards Lifesciences Stock Down 0.7%
EW opened at $103.97 on Wednesday. The stock has a market cap of $59.78 billion, a PE ratio of 58.74, a price-to-earnings-growth ratio of 2.79 and a beta of 0.85. The company has a current ratio of 4.60, a quick ratio of 3.86 and a debt-to-equity ratio of 0.05. The stock's fifty day simple moving average is $89.47 and its 200 day simple moving average is $85.98. Edwards Lifesciences Corporation has a 1-year low of $74.66 and a 1-year high of $105.37.
Edwards Lifesciences (NYSE:EW - Get Free Report) last announced its quarterly earnings results on Wednesday, November 4th. The medical research company reported $0.80 EPS for the quarter, beating analysts' consensus estimates of $0.74 by $0.06. The business 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%. Edwards Lifesciences's quarterly revenue was up 10.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.67 EPS. As a group, research analysts expect that Edwards Lifesciences Corporation will post 3.01 earnings per share for the current year.
Institutional Investors Weigh In On Edwards Lifesciences
Several institutional investors and hedge funds have recently added to or reduced their stakes in EW. Legacy Trust boosted its position in Edwards Lifesciences by 1.4% in the third quarter. Legacy Trust now owns 7,409 shares of the medical research company's stock valued at $682,000 after buying an additional 104 shares in the last quarter. Harbour Wealth Management Group Inc. grew its position in Edwards Lifesciences by 3.9% during the 3rd quarter. Harbour Wealth Management Group Inc. now owns 3,070 shares of the medical research company's stock worth $265,000 after acquiring an additional 114 shares during the last quarter. Bessemer Group Inc. grew its position in Edwards Lifesciences by 0.4% during the 3rd quarter. Bessemer Group Inc. now owns 28,358 shares of the medical research company's stock worth $2,447,000 after acquiring an additional 114 shares during the last quarter. Flagship Harbor Advisors LLC increased its holdings in Edwards Lifesciences by 1.2% in the 3rd quarter. Flagship Harbor Advisors LLC now owns 10,615 shares of the medical research company's stock worth $916,000 after purchasing an additional 125 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC increased its holdings in Edwards Lifesciences by 1.8% in the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 7,268 shares of the medical research company's stock worth $627,000 after purchasing an additional 132 shares in the last quarter. 79.46% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently issued reports on EW shares. Sanford C. Bernstein boosted their target price on shares of Edwards Lifesciences from $99.00 to $106.00 and gave the company a "market perform" rating in a research report on Thursday, November 5th. Piper Sandler reaffirmed an "overweight" rating and set a $115.00 target price (up from $101.00) on shares of Edwards Lifesciences in a report on Thursday, November 5th. Jefferies Financial Group lifted their price target on shares of Edwards Lifesciences from $102.00 to $105.00 and gave the company a "buy" rating in a research report on Friday, July 24th. Leerink Partners increased their price target on Edwards Lifesciences from $101.00 to $112.00 and gave the stock an "outperform" rating in a research report on Thursday, November 5th. Finally, UBS Group raised their price objective on Edwards Lifesciences from $110.00 to $118.00 and gave the stock a "buy" rating in a research note on Thursday, November 5th. Twenty-three equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $108.88.
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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.
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