Insider Selling: John T. Cardis Sells 6,000 Shares of Edwards Lifesciences Corp Stock (EW)
Edwards Lifesciences Corp (NYSE:EW) Director John T. Cardis sold 6,000 shares of the stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $97.92, for a total transaction of $587,520.00. Following the completion of the transaction, the director now directly owns 46,708 shares in the company, valued at approximately $4,573,647. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
Edwards Lifesciences Corp (NYSE:EW) traded up 0.62% during mid-day trading on Thursday, hitting $98.171. The stock had a trading volume of 371,616 shares. Edwards Lifesciences Corp has a 52 week low of $60.62 and a 52 week high of $98.34. The stock’s 50-day moving average is $90.25 and its 200-day moving average is $80.33. The company has a market cap of $10.409 billion and a P/E ratio of 14.08. Edwards Lifesciences Corp also was the target of a large drop in short interest in the month of July. As of July 31st, there was short interest totalling 2,915,578 shares, a drop of 45.6% from the July 15th total of 5,356,970 shares. Based on an average daily trading volume, of 1,687,462 shares, the short-interest ratio is presently 1.7 days. Currently, 2.8% of the company’s shares are sold short.
Edwards Lifesciences Corp (NYSE:EW) last released its earnings data on Tuesday, July 29th. The company reported $0.88 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.77 by $0.11. The company had revenue of $547.00 million for the quarter, compared to the consensus estimate of $545.10 million. During the same quarter last year, the company posted $0.82 earnings per share. Edwards Lifesciences Corp’s revenue was up 11.2% compared to the same quarter last year. On average, analysts predict that Edwards Lifesciences Corp will post $3.29 earnings per share for the current fiscal year.
Several analysts have recently commented on the stock. Analysts at JMP Securities raised their price target on shares of Edwards Lifesciences Corp from $97.00 to $120.00 in a research note on Thursday. They now have an “outperform” rating on the stock. Separately, analysts at Stifel Nicolaus raised their price target on shares of Edwards Lifesciences Corp from $90.00 to $100.00 in a research note on Thursday, July 31st. Finally, analysts at JPMorgan Chase & Co. raised their price target on shares of Edwards Lifesciences Corp from $78.00 to $90.00 in a research note on Thursday, July 31st. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $91.50.
Edwards Lifesciences Corporation (NYSE:EW) is focused on technologies that treat structural heart disease and critically ill patients.
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