Edwards Lifesciences Co. (NYSE:EW) Director Michael A. Mussallem Sells 29,350 Shares

Edwards Lifesciences Co. (NYSE:EW) Director Michael A. Mussallem sold 29,350 shares of the stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $84.77, for a total value of $2,487,999.50. Following the transaction, the director now owns 4,486 shares of the company’s stock, valued at $380,278.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Edwards Lifesciences Price Performance

EW stock traded up $0.76 during midday trading on Thursday, reaching $85.06. 1,936,563 shares of the stock were exchanged, compared to its average volume of 3,789,544. The stock has a market capitalization of $51.26 billion, a PE ratio of 36.31, a P/E/G ratio of 3.56 and a beta of 1.10. Edwards Lifesciences Co. has a 52 week low of $60.57 and a 52 week 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 company has a fifty day moving average price of $90.18 and a 200 day moving average price of $79.19.

Edwards Lifesciences (NYSE:EW) last issued its quarterly earnings data on Thursday, April 25th. The medical research company reported $0.66 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.02. Edwards Lifesciences had a return on equity of 22.86% and a net margin of 23.01%. The business had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.58 billion. As a group, analysts expect that Edwards Lifesciences Co. will post 2.77 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Evercore ISI decreased their price target on Edwards Lifesciences from $92.00 to $89.00 and set an “in-line” rating for the company in a research note on Friday, April 26th. StockNews.com raised Edwards Lifesciences from a “hold” rating to a “buy” rating in a research report on Monday. OTR Global raised Edwards Lifesciences from a “mixed” rating to a “positive” rating in a report on Tuesday, March 26th. Mizuho lifted their price objective on Edwards Lifesciences from $95.00 to $105.00 and gave the company a “buy” rating in a report on Thursday, April 11th. Finally, Oppenheimer lifted their price objective on Edwards Lifesciences from $93.00 to $100.00 and gave the company an “outperform” rating in a report on Monday, March 18th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $92.71.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Edwards Lifesciences by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 52,363,400 shares of the medical research company’s stock worth $3,992,709,000 after buying an additional 729,984 shares during the period. Bank of New York Mellon Corp increased its holdings in Edwards Lifesciences by 9.5% during 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 purchasing an additional 1,644,869 shares in the last quarter. Brown Advisory Inc. increased its holdings in Edwards Lifesciences by 20.1% during 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 purchasing an additional 3,048,274 shares in the last quarter. Wellington Management Group LLP increased its holdings in Edwards Lifesciences by 2.4% during the 4th quarter. Wellington Management Group LLP now owns 16,827,510 shares of the medical research company’s stock worth $1,283,098,000 after purchasing an additional 393,109 shares in the last quarter. Finally, Norges Bank bought a new stake in Edwards Lifesciences during the 4th quarter worth approximately $648,540,000. 79.46% of the stock is owned by institutional investors and hedge funds.

Edwards Lifesciences Company Profile

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.