Insider Selling: Larry L. Wood Unloads 63,752 Shares of Edwards Lifesciences Corp Stock (EW)
Edwards Lifesciences Corp (NYSE:EW) VP Larry L. Wood sold 63,752 shares of the company’s stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $97.85, for a total transaction of $6,238,133.20. Following the sale, the vice president now directly owns 39,757 shares in the company, valued at approximately $3,890,222. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
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 equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Edwards Lifesciences Corp has an average rating of “Buy” and a consensus price target of $91.50.
Shares of Edwards Lifesciences Corp (NYSE:EW) traded up 0.60% during mid-day trading on Thursday, hitting $98.155. 374,142 shares of the company’s stock traded hands. Edwards Lifesciences Corp has a 1-year low of $60.62 and a 1-year 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 $10.408 billion and a P/E ratio of 14.08. Edwards Lifesciences Corp also was the recipient of a significant drop in short interest in 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 volume of 1,687,462 shares, the days-to-cover ratio is currently 1.7 days. Approximately 2.8% of the company’s shares are sold short.
Edwards Lifesciences Corp (NYSE:EW) last posted its quarterly earnings results on Tuesday, July 29th. The company reported $0.88 EPS for the quarter, beating the Thomson Reuters 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 in the prior year, the company posted $0.82 earnings per share. The company’s quarterly revenue was up 11.2% on a year-over-year basis. Analysts expect that Edwards Lifesciences Corp will post $3.29 EPS for the current fiscal year.
Edwards Lifesciences Corporation (NYSE:EW) is focused on technologies that treat structural heart disease and critically ill patients.
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