Bernard J. Zovighian Sells 6,164 Shares of Edwards Lifesciences Co. (NYSE:EW) Stock

Edwards Lifesciences Co. (NYSE:EW) CEO Bernard J. Zovighian sold 6,164 shares of the firm’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $69.51, for a total transaction of $428,459.64. Following the completion of the sale, the chief executive officer now owns 59,083 shares of the company’s stock, valued at $4,106,859.33. This trade represents a 9.45 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Edwards Lifesciences Stock Down 0.1 %

Shares of EW opened at $68.49 on Wednesday. The firm’s 50 day moving average is $72.03 and its 200-day moving average is $70.35. The stock has a market capitalization of $40.26 billion, a PE ratio of 9.83, a P/E/G ratio of 4.82 and a beta of 1.12. The company has a current ratio of 3.46, a quick ratio of 2.89 and a debt-to-equity ratio of 0.06. Edwards Lifesciences Co. has a 12 month low of $58.93 and a 12 month high of $96.12.

Edwards Lifesciences (NYSE:EW) last announced its quarterly earnings data on Tuesday, February 11th. The medical research company reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.04. Edwards Lifesciences had a net margin of 72.93% and a return on equity of 19.40%. Equities research analysts forecast that Edwards Lifesciences Co. will post 2.45 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on EW shares. Truist Financial reiterated a “hold” rating and issued a $78.00 target price (up from $70.00) on shares of Edwards Lifesciences in a research note on Thursday, December 5th. The Goldman Sachs Group raised their target price on shares of Edwards Lifesciences from $81.00 to $90.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Morgan Stanley raised their target price on shares of Edwards Lifesciences from $70.00 to $75.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 12th. Piper Sandler raised their price objective on shares of Edwards Lifesciences from $70.00 to $73.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 12th. Finally, Canaccord Genuity Group raised their price objective on shares of Edwards Lifesciences from $68.00 to $71.00 and gave the stock a “hold” rating in a research report on Thursday, February 13th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $79.95.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Crowley Wealth Management Inc. bought a new stake in shares of Edwards Lifesciences during the fourth quarter worth $26,000. Vega Investment Solutions bought a new stake in shares of Edwards Lifesciences during the fourth quarter worth $27,000. Millstone Evans Group LLC bought a new stake in shares of Edwards Lifesciences during the fourth quarter worth $29,000. FSA Wealth Management LLC bought a new stake in shares of Edwards Lifesciences during the third quarter worth $30,000. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Edwards Lifesciences during the fourth quarter worth $30,000. 79.46% of the stock is 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.