Edwards Lifesciences (NYSE:EW) Stock: Insider Daniel Lippis Sells 619 Shares

Edwards Lifesciences Corporation (NYSE:EW) VP Daniel Lippis sold 619 shares of Edwards Lifesciences stock in a transaction dated 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 directly owned 40,034 shares in the company, valued at approximately $4,173,544.50. The trade was a 1.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Edwards Lifesciences Trading Up 1.9%

Shares of NYSE:EW opened at $105.98 on Thursday. The stock has a market capitalization of $60.94 billion, a price-to-earnings ratio of 59.87, a PEG ratio of 2.78 and a beta of 0.85. Edwards Lifesciences Corporation has a 1-year low of $74.66 and a 1-year high of $106.05. The company has a debt-to-equity ratio of 0.05, a quick ratio of 3.86 and a current ratio of 4.60. The company has a 50 day moving average price of $89.77 and a 200 day moving average price of $86.09.

Edwards Lifesciences (NYSE:EW) last issued its quarterly earnings results on Wednesday, November 4th. The medical research company reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.06. Edwards Lifesciences had a return on equity of 16.06% and a net margin of 15.30%. The firm had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.68 billion. During the same quarter last year, the business posted $0.67 EPS. Edwards Lifesciences’s revenue was up 10.5% on a year-over-year basis. On average, research analysts anticipate that Edwards Lifesciences Corporation will post 3.01 EPS for the current fiscal year.

Analysts Set New Price Targets

EW has been the topic of several research analyst reports. Piper Sandler reaffirmed an “overweight” rating and set a $115.00 target price (up from $101.00) on shares of Edwards Lifesciences in a research note on Thursday, November 5th. Leerink Partners increased their price target on shares of Edwards Lifesciences from $101.00 to $112.00 and gave the stock an “outperform” rating in a research report on Thursday, November 5th. Jefferies Financial Group raised their price target on shares of Edwards Lifesciences from $102.00 to $105.00 and gave the stock a “buy” rating in a report on Friday, July 24th. JPMorgan Chase & Co. raised their price target on shares of Edwards Lifesciences from $105.00 to $120.00 and gave the stock an “overweight” rating in a report on Thursday, November 5th. Finally, Robert W. Baird raised shares of Edwards Lifesciences from a “neutral” rating to an “outperform” rating and set a $116.00 price objective on the stock in a research report on Thursday, November 5th. Twenty-three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $109.56.

Institutional Trading of Edwards Lifesciences

Several hedge funds and other institutional investors have recently modified their holdings of EW. Pin Oak Investment Advisors Inc. purchased a new position in Edwards Lifesciences in the second quarter valued at about $26,000. TrinityBridge Ltd purchased a new stake in shares of Edwards Lifesciences during the 2nd quarter worth about $27,000. GK Wealth Management LLC purchased a new stake in shares of Edwards Lifesciences during the 3rd quarter worth about $26,000. RMG Wealth Management LLC purchased a new stake in shares of Edwards Lifesciences during the 1st quarter worth about $26,000. Finally, Compass Financial Management LLC acquired a new stake in shares of Edwards Lifesciences during the 2nd quarter valued at about $32,000. 79.46% of the stock is currently owned by hedge funds and other institutional investors.

About Edwards Lifesciences

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.