Donald E. Bobo, Jr. Sells 2,570 Shares of Edwards Lifesciences Co. (NYSE:EW) Stock

Edwards Lifesciences Co. (NYSE:EW) VP Donald E. Bobo, Jr. sold 2,570 shares of the business’s stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $77.40, for a total value of $198,918.00. Following the sale, the vice president now directly owns 50,356 shares of the company’s stock, valued at approximately $3,897,554.40. This trade represents a 4.86% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Edwards Lifesciences Trading Down 0.2%

Shares of NYSE EW opened at $78.03 on Tuesday. The stock’s 50 day moving average price is $73.49 and its two-hundred day moving average price is $72.57. Edwards Lifesciences Co. has a 52-week low of $58.93 and a 52-week high of $95.25. The stock has a market capitalization of $45.77 billion, a P/E ratio of 11.20, a PEG ratio of 4.82 and a beta of 1.12. The company has a quick ratio of 2.89, a current ratio of 3.46 and a debt-to-equity ratio of 0.06.

Edwards Lifesciences (NYSE:EW) last announced its quarterly earnings results on Wednesday, April 23rd. The medical research company reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.04. The business had revenue of $1.41 billion for the quarter, compared to analysts’ expectations of $1.40 billion. Edwards Lifesciences had a return on equity of 19.40% and a net margin of 72.93%. The business’s quarterly revenue was up 6.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.66 EPS. On average, analysts anticipate that Edwards Lifesciences Co. will post 2.45 earnings per share for the current fiscal year.

Analysts Set New Price Targets

EW has been the subject of a number of research reports. Piper Sandler boosted their price target on Edwards Lifesciences from $80.00 to $83.00 and gave the company an “overweight” rating in a research report on Tuesday, May 13th. Barclays boosted their price target on Edwards Lifesciences from $88.00 to $90.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Citigroup reissued a “buy” rating and set a $95.00 price target (up previously from $84.00) on shares of Edwards Lifesciences in a research report on Thursday, May 22nd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $85.00 target price on shares of Edwards Lifesciences in a research report on Wednesday, February 12th. Finally, Wall Street Zen downgraded Edwards Lifesciences from a “buy” rating to a “hold” rating in a research report on Friday, May 16th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $80.20.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of EW. Crowley Wealth Management Inc. bought a new position in shares of Edwards Lifesciences in the fourth quarter worth $26,000. Quantbot Technologies LP bought a new position in shares of Edwards Lifesciences in the first quarter worth $26,000. Vega Investment Solutions bought a new position in shares of Edwards Lifesciences in the fourth quarter worth $27,000. SouthState Corp bought a new position in Edwards Lifesciences during the 1st quarter valued at $27,000. Finally, Millstone Evans Group LLC bought a new position in Edwards Lifesciences during the 4th quarter valued at $29,000. Institutional investors own 79.46% of the company’s stock.

Edwards Lifesciences Company Profile

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.