Scott B. Ullem Sells 7,250 Shares of Edwards Lifesciences Co. (NYSE:EW) Stock

Edwards Lifesciences Co. (NYSE:EW) CFO Scott B. Ullem sold 7,250 shares of the firm’s stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $85.80, for a total value of $622,050.00. Following the transaction, the chief financial officer now owns 19,074 shares of the company’s stock, valued at $1,636,549.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Edwards Lifesciences Stock Performance

Shares of NYSE EW traded down $1.27 during mid-day trading on Tuesday, hitting $84.68. The company had a trading volume of 3,097,272 shares, compared to its average volume of 3,828,306. The stock has a market cap of $50.97 billion, a price-to-earnings ratio of 36.50, a PEG ratio of 4.28 and a beta of 1.05. Edwards Lifesciences Co. has a 12 month low of $60.57 and a 12 month high of $96.12. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.75 and a quick ratio of 2.67. The firm’s 50 day simple moving average is $90.27 and its two-hundred day simple moving average is $79.06.

Edwards Lifesciences (NYSE:EW) last posted its earnings results on Thursday, April 25th. The medical research company reported $0.66 EPS for the quarter, beating the consensus estimate of $0.64 by $0.02. Edwards Lifesciences had a return on equity of 22.86% and a net margin of 23.01%. The firm had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.58 billion. As a group, equities research analysts forecast that Edwards Lifesciences Co. will post 2.76 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. OTR Global raised Edwards Lifesciences from a “mixed” rating to a “positive” rating in a report on Tuesday, March 26th. Mizuho boosted their price target on Edwards Lifesciences from $95.00 to $105.00 and gave the company a “buy” rating in a research report on Thursday, April 11th. Wells Fargo & Company boosted their price target on Edwards Lifesciences from $94.00 to $99.00 and gave the company an “overweight” rating in a research report on Friday. Stifel Nicolaus boosted their target price on Edwards Lifesciences from $83.00 to $85.00 and gave the stock a “hold” rating in a research report on Friday. Finally, Citigroup boosted their price target on Edwards Lifesciences from $90.00 to $98.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 3rd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $92.71.

Hedge Funds Weigh In On Edwards Lifesciences

Several hedge funds have recently modified their holdings of EW. Norges Bank acquired a new position in shares of Edwards Lifesciences during the 4th quarter valued at $648,540,000. Brown Advisory Inc. grew its holdings in shares of Edwards Lifesciences by 20.1% in the 4th quarter. Brown Advisory Inc. now owns 18,181,420 shares of the medical research company’s stock worth $1,386,333,000 after acquiring an additional 3,048,274 shares during the last quarter. CIBC Private Wealth Group LLC grew its holdings in shares of Edwards Lifesciences by 197.0% in the 4th quarter. CIBC Private Wealth Group LLC now owns 3,446,758 shares of the medical research company’s stock worth $262,815,000 after acquiring an additional 2,286,119 shares during the last quarter. AustralianSuper Pty Ltd acquired a new position in shares of Edwards Lifesciences in the 4th quarter worth $168,519,000. Finally, Bank of New York Mellon Corp grew its holdings in shares of Edwards Lifesciences by 9.5% in the 1st quarter. Bank of New York Mellon Corp now owns 18,973,304 shares of the medical research company’s stock worth $1,813,089,000 after acquiring an additional 1,644,869 shares during the last quarter. 79.46% of the stock is currently owned by institutional investors and hedge funds.

About Edwards Lifesciences

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.