Edwards Lifesciences Corp (EW) CEO Sells $4,155,432.00 in Stock

Edwards Lifesciences Corp (NYSE:EW) CEO Michael A. Mussallem sold 32,800 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $126.69, for a total value of $4,155,432.00. Following the transaction, the chief executive officer now owns 74,131 shares of the company’s stock, valued at approximately $9,391,656.39. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Michael A. Mussallem also recently made the following trade(s):

  • On Thursday, January 4th, Michael A. Mussallem sold 32,800 shares of Edwards Lifesciences stock. The shares were sold at an average price of $114.97, for a total value of $3,771,016.00.
  • On Tuesday, December 19th, Michael A. Mussallem sold 32,800 shares of Edwards Lifesciences stock. The shares were sold at an average price of $114.82, for a total value of $3,766,096.00.
  • On Monday, November 20th, Michael A. Mussallem sold 32,900 shares of Edwards Lifesciences stock. The shares were sold at an average price of $106.86, for a total value of $3,515,694.00.

Shares of Edwards Lifesciences Corp (NYSE EW) traded up $0.46 during trading hours on Tuesday, hitting $127.35. 1,016,167 shares of the company were exchanged, compared to its average volume of 1,381,409. The company has a current ratio of 1.81, a quick ratio of 1.41 and a debt-to-equity ratio of 0.15. Edwards Lifesciences Corp has a 1 year low of $89.20 and a 1 year high of $138.48. The company has a market cap of $26,750.00, a P/E ratio of 44.22, a price-to-earnings-growth ratio of 1.86 and a beta of 0.63.

Edwards Lifesciences (NYSE:EW) last announced its quarterly earnings results on Thursday, February 1st. The medical research company reported $0.94 EPS for the quarter, beating the Zacks’ consensus estimate of $0.91 by $0.03. The firm had revenue of $888.50 million during the quarter, compared to the consensus estimate of $868.45 million. Edwards Lifesciences had a net margin of 18.11% and a return on equity of 27.69%. The firm’s revenue for the quarter was up 15.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.75 EPS. equities research analysts predict that Edwards Lifesciences Corp will post 4.49 earnings per share for the current fiscal year.

Edwards Lifesciences announced that its Board of Directors has initiated a stock buyback program on Thursday, December 7th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the medical research company to reacquire shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.

A number of brokerages have recently weighed in on EW. Zacks Investment Research upgraded Edwards Lifesciences from a “hold” rating to a “buy” rating and set a $145.00 price objective for the company in a research report on Thursday, February 8th. Cowen restated a “buy” rating and set a $150.00 price objective on shares of Edwards Lifesciences in a research report on Thursday, February 1st. Guggenheim restated a “buy” rating and set a $162.00 price objective on shares of Edwards Lifesciences in a research report on Friday, February 2nd. SunTrust Banks restated a “buy” rating and set a $150.00 price objective on shares of Edwards Lifesciences in a research report on Wednesday, January 31st. Finally, JMP Securities raised their price objective on Edwards Lifesciences from $135.00 to $140.00 and gave the company a “market outperform” rating in a research report on Friday, February 2nd. Three investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $141.15.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. lifted its stake in Edwards Lifesciences by 2.2% in the fourth quarter. BlackRock Inc. now owns 15,410,737 shares of the medical research company’s stock worth $1,736,943,000 after purchasing an additional 331,896 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Edwards Lifesciences by 45.7% in the fourth quarter. Bank of New York Mellon Corp now owns 7,580,924 shares of the medical research company’s stock worth $854,444,000 after purchasing an additional 2,377,444 shares during the last quarter. Alliancebernstein L.P. lifted its stake in Edwards Lifesciences by 12.1% in the fourth quarter. Alliancebernstein L.P. now owns 6,259,771 shares of the medical research company’s stock worth $705,539,000 after purchasing an additional 675,216 shares during the last quarter. Wells Fargo & Company MN lifted its stake in Edwards Lifesciences by 20.2% in the third quarter. Wells Fargo & Company MN now owns 2,548,282 shares of the medical research company’s stock worth $278,553,000 after purchasing an additional 429,022 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in Edwards Lifesciences by 4.0% in the fourth quarter. Geode Capital Management LLC now owns 2,402,209 shares of the medical research company’s stock worth $270,220,000 after purchasing an additional 93,049 shares during the last quarter. 81.11% of the stock is owned by institutional investors and hedge funds.

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About Edwards Lifesciences

Edwards Lifesciences Corporation is a manufacturer of heart valve systems and repair products used to replace or repair a patient’s diseased or defective heart valve. The Company is engaged in patient-focused innovations for structural heart disease and critical care monitoring. Its segments include United States, Europe, Japan and Rest of World.

Insider Buying and Selling by Quarter for Edwards Lifesciences (NYSE:EW)

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