Insider Selling: Edwards Lifesciences Corp (NYSE:EW) CFO Sells $1,693,050.00 in Stock

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Edwards Lifesciences Corp (NYSE:EW) CFO Scott B. Ullem sold 7,500 shares of Edwards Lifesciences stock in a transaction on Monday, September 9th. The shares were sold at an average price of $225.74, for a total value of $1,693,050.00. Following the sale, the chief financial officer now directly owns 21,064 shares of the company’s stock, valued at approximately $4,754,987.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Shares of Edwards Lifesciences stock opened at $217.85 on Thursday. Edwards Lifesciences Corp has a 12-month low of $136.44 and a 12-month high of $228.19. The company has a quick ratio of 2.48, a current ratio of 3.38 and a debt-to-equity ratio of 0.18. The stock has a 50 day moving average price of $217.31 and a two-hundred day moving average price of $190.94. The stock has a market capitalization of $45.17 billion, a P/E ratio of 46.35, a PEG ratio of 2.74 and a beta of 0.84.

Edwards Lifesciences (NYSE:EW) last released its quarterly earnings results on Tuesday, July 23rd. The medical research company reported $1.38 EPS for the quarter, beating the Zacks’ consensus estimate of $1.33 by $0.05. Edwards Lifesciences had a net margin of 18.29% and a return on equity of 31.25%. The company had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same quarter last year, the firm posted $1.24 earnings per share. The company’s quarterly revenue was up 15.2% compared to the same quarter last year. Sell-side analysts anticipate that Edwards Lifesciences Corp will post 5.34 earnings per share for the current year.

EW has been the topic of several research reports. Canaccord Genuity upped their target price on Edwards Lifesciences from $215.00 to $250.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Zacks Investment Research upgraded Edwards Lifesciences from a “hold” rating to a “buy” rating and set a $232.00 price target for the company in a report on Thursday, July 25th. Jefferies Financial Group boosted their price target on Edwards Lifesciences from $210.00 to $245.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. BMO Capital Markets increased their price objective on Edwards Lifesciences from $204.00 to $224.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Finally, Bank of America reaffirmed a “buy” rating and set a $225.00 price objective (up previously from $215.00) on shares of Edwards Lifesciences in a research report on Wednesday, July 24th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and fourteen have given a buy rating to the stock. Edwards Lifesciences currently has a consensus rating of “Buy” and an average target price of $206.32.

A number of large investors have recently bought and sold shares of EW. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in Edwards Lifesciences by 58.8% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 91,032 shares of the medical research company’s stock worth $16,817,000 after buying an additional 33,716 shares in the last quarter. Stonehage Fleming Financial Services Holdings Ltd bought a new stake in shares of Edwards Lifesciences in the 2nd quarter worth approximately $1,415,000. Toronto Dominion Bank lifted its position in shares of Edwards Lifesciences by 42.6% in the 2nd quarter. Toronto Dominion Bank now owns 206,240 shares of the medical research company’s stock worth $38,093,000 after acquiring an additional 61,627 shares during the period. Keudell Morrison Wealth Management acquired a new stake in shares of Edwards Lifesciences during the 2nd quarter worth approximately $3,580,000. Finally, Treasurer of the State of North Carolina grew its holdings in shares of Edwards Lifesciences by 51.5% during the 2nd quarter. Treasurer of the State of North Carolina now owns 131,655 shares of the medical research company’s stock worth $24,322,000 after purchasing an additional 44,773 shares in the last quarter. Institutional investors and hedge funds own 81.46% of the company’s stock.

About Edwards Lifesciences

Edwards Lifesciences Corporation provides products and technologies for structural heart disease and critical care monitoring in the United States and internationally. It offers transcatheter heart valve therapy products comprising transcatheter aortic valve replacement, and transcatheter mitral and tricuspid therapies for the nonsurgical replacement of heart valves.

Further Reading: Rule of 72

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

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