Edwards Lifesciences Co. (NYSE:EW) Short Interest Up 24.6% in April


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Edwards Lifesciences Co. (NYSE:EW) was the recipient of a large growth in short interest during the month of April. As of April 15th, there was short interest totalling 6,580,000 shares, a growth of 24.6% from the March 31st total of 5,280,000 shares. Based on an average daily volume of 2,850,000 shares, the short-interest ratio is currently 2.3 days.

In other Edwards Lifesciences news, VP Donald E. Bobo, Jr. sold 13,077 shares of the business’s stock in a transaction dated Friday, February 5th. The stock was sold at an average price of $85.80, for a total transaction of $1,122,006.60. Following the completion of the sale, the vice president now directly owns 61,585 shares of the company’s stock, valued at approximately $5,283,993. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael A. Mussallem sold 68,550 shares of the company’s stock in a transaction dated Tuesday, February 23rd. The shares were sold at an average price of $84.17, for a total transaction of $5,769,853.50. Following the transaction, the chief executive officer now owns 309,770 shares in the company, valued at $26,073,340.90. The disclosure for this sale can be found here. Insiders sold a total of 310,003 shares of company stock valued at $26,173,339 in the last 90 days. 1.48% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Bainco International Investors bought a new stake in Edwards Lifesciences during the 4th quarter worth about $28,000. Central Bank & Trust Co. acquired a new position in Edwards Lifesciences during the first quarter valued at approximately $33,000. JFS Wealth Advisors LLC bought a new position in Edwards Lifesciences in the first quarter valued at approximately $33,000. Sound Income Strategies LLC increased its position in shares of Edwards Lifesciences by 375.0% during the 4th quarter. Sound Income Strategies LLC now owns 380 shares of the medical research company’s stock worth $35,000 after purchasing an additional 300 shares during the last quarter. Finally, Sage Private Wealth Group LLC acquired a new position in shares of Edwards Lifesciences during the 4th quarter worth approximately $37,000. Institutional investors and hedge funds own 80.94% of the company’s stock.

Shares of EW traded down $1.32 during midday trading on Tuesday, hitting $93.31. The stock had a trading volume of 2,492,950 shares, compared to its average volume of 2,755,743. The firm has a market cap of $58.00 billion, a price-to-earnings ratio of 74.65, a price-to-earnings-growth ratio of 2.61 and a beta of 0.97. The company has a 50 day simple moving average of $87.01 and a two-hundred day simple moving average of $85.06. Edwards Lifesciences has a twelve month low of $66.23 and a twelve month high of $98.11. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.52 and a quick ratio of 2.61.

Edwards Lifesciences (NYSE:EW) last announced its earnings results on Monday, April 19th. The medical research company reported $0.54 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.47 by $0.07. The business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.16 billion. Edwards Lifesciences had a return on equity of 29.00% and a net margin of 18.18%. Edwards Lifesciences’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.50 EPS. Analysts forecast that Edwards Lifesciences will post 1.89 EPS for the current fiscal year.

A number of research firms have recently weighed in on EW. Canaccord Genuity increased their price target on Edwards Lifesciences from $94.00 to $103.00 and gave the company a “buy” rating in a research note on Tuesday, April 27th. Morgan Stanley raised their target price on Edwards Lifesciences from $99.00 to $108.00 and gave the stock an “overweight” rating in a report on Tuesday, April 27th. Evercore ISI raised Edwards Lifesciences from an “in-line” rating to an “outperform” rating in a research note on Monday, April 5th. Atlantic Securities began coverage on shares of Edwards Lifesciences in a research note on Wednesday, April 21st. They issued a “neutral” rating and a $85.00 target price for the company. Finally, Zacks Investment Research cut shares of Edwards Lifesciences from a “buy” rating to a “hold” rating and set a $102.00 price target on the stock. in a research report on Monday, April 26th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and eleven have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $99.93.

About Edwards Lifesciences

Edwards Lifesciences Corporation provides products and technologies for structural heart disease, and critical care and surgical monitoring in the United States, Europe, Japan, and internationally. It offers transcatheter heart valve replacement products for the minimally invasive replacement of heart valves; and transcatheter heart valve repair and replacement products to treat mitral and tricuspid valve diseases.

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