Donald E. Bobo, Jr. Sells 5,000 Shares of Edwards Lifesciences Co. (NYSE:EW) Stock

Edwards Lifesciences Co. (NYSE:EW) VP Donald E. Bobo, Jr. sold 5,000 shares of Edwards Lifesciences stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $69.51, for a total transaction of $347,550.00. Following the completion of the sale, the vice president now owns 46,936 shares in the company, valued at $3,262,521.36. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Edwards Lifesciences Stock Performance

EW traded down $0.73 during trading on Tuesday, hitting $68.90. 4,021,755 shares of the company traded hands, compared to its average volume of 4,580,660. The firm has a market cap of $41.52 billion, a P/E ratio of 29.72, a price-to-earnings-growth ratio of 2.83 and a beta of 1.13. The stock’s fifty day moving average is $67.31 and its 200 day moving average is $79.79. The company has a quick ratio of 2.87, a current ratio of 3.71 and a debt-to-equity ratio of 0.08. Edwards Lifesciences Co. has a one year low of $58.93 and a one year high of $96.12.

Edwards Lifesciences (NYSE:EW) last issued its earnings results on Wednesday, July 24th. The medical research company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.01. Edwards Lifesciences had a net margin of 24.55% and a return on equity of 22.35%. The firm had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.65 billion. During the same quarter last year, the business earned $0.66 earnings per share. The company’s quarterly revenue was up 6.7% on a year-over-year basis. As a group, equities analysts predict that Edwards Lifesciences Co. will post 2.71 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on EW. Royal Bank of Canada reduced their price objective on shares of Edwards Lifesciences from $85.00 to $75.00 and set an “outperform” rating for the company in a research report on Tuesday, October 8th. Daiwa Capital Markets raised Edwards Lifesciences from a “neutral” rating to an “outperform” rating in a report on Wednesday, July 31st. JPMorgan Chase & Co. downgraded Edwards Lifesciences from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $105.00 to $72.00 in a research report on Thursday, July 25th. Jefferies Financial Group cut Edwards Lifesciences from a “buy” rating to a “hold” rating and reduced their target price for the company from $85.00 to $70.00 in a research note on Wednesday, September 18th. Finally, Canaccord Genuity Group cut their target price on Edwards Lifesciences from $77.00 to $66.00 and set a “hold” rating on the stock in a research note on Monday, October 7th. Seventeen investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $75.77.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD boosted its holdings in Edwards Lifesciences by 57.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,516,260 shares of the medical research company’s stock valued at $622,695,000 after acquiring an additional 2,390,137 shares in the last quarter. CCLA Investment Management lifted its position in Edwards Lifesciences by 100,739.7% during the first quarter. CCLA Investment Management now owns 1,406,714 shares of the medical research company’s stock valued at $134,092,000 after buying an additional 1,405,319 shares during the period. Swedbank AB purchased a new position in shares of Edwards Lifesciences in the 1st quarter worth about $124,511,000. Sei Investments Co. raised its position in shares of Edwards Lifesciences by 162.7% in the 1st quarter. Sei Investments Co. now owns 1,465,719 shares of the medical research company’s stock worth $140,064,000 after purchasing an additional 907,688 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Edwards Lifesciences by 4.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 19,782,909 shares of the medical research company’s stock worth $1,827,347,000 after purchasing an additional 809,605 shares during the last quarter. 79.46% of the stock is currently owned by institutional investors.

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.