Edwards Lifesciences Co. (NYSE:EW) CEO Buys $49,729.20 in Stock

Edwards Lifesciences Co. (NYSE:EW) CEO Bernard J. Zovighian acquired 580 shares of the company’s stock in a transaction dated Monday, May 6th. The shares were bought at an average cost of $85.74 per share, for a total transaction of $49,729.20. Following the completion of the acquisition, the chief executive officer now directly owns 3,268 shares of the company’s stock, valued at $280,198.32. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Edwards Lifesciences Price Performance

Shares of NYSE:EW traded up $0.76 during midday trading on Tuesday, hitting $85.85. The company had a trading volume of 1,836,259 shares, compared to its average volume of 3,735,495. Edwards Lifesciences Co. has a twelve month low of $60.57 and a twelve month high of $96.12. The stock has a market cap of $51.73 billion, a price-to-earnings ratio of 37.00, a price-to-earnings-growth ratio of 3.59 and a beta of 1.10. 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 business’s 50-day simple moving average is $90.05 and its 200-day simple moving average is $79.69.

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

Analyst Upgrades and Downgrades

Several research firms have weighed in on EW. Piper Sandler boosted their price target on Edwards Lifesciences from $85.00 to $88.00 and gave the company a “neutral” rating in a research note on Friday, April 26th. Bank of America upgraded shares of Edwards Lifesciences from a “neutral” rating to a “buy” rating in a report on Thursday, March 7th. Morgan Stanley lifted their price objective on shares of Edwards Lifesciences from $95.00 to $103.00 and gave the company an “overweight” rating in a research note on Thursday, March 21st. Citigroup increased their price objective on shares of Edwards Lifesciences from $90.00 to $98.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 3rd. Finally, Royal Bank of Canada boosted their target price on shares of Edwards Lifesciences from $95.00 to $101.00 and gave the company an “outperform” rating in a research report on Monday, April 15th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, Edwards Lifesciences presently has an average rating of “Moderate Buy” and a consensus price target of $93.27.

Hedge Funds Weigh In On Edwards Lifesciences

Several institutional investors have recently modified their holdings of EW. Nordea Investment Management AB lifted its position in shares of Edwards Lifesciences by 1,224.1% during the 4th quarter. Nordea Investment Management AB now owns 1,610,412 shares of the medical research company’s stock worth $123,261,000 after buying an additional 1,488,791 shares during the last quarter. Telos Capital Management Inc. grew its stake in Edwards Lifesciences by 158.2% during the 4th quarter. Telos Capital Management Inc. now owns 91,405 shares of the medical research company’s stock worth $6,970,000 after buying an additional 56,000 shares during the last quarter. Arlington Trust Co LLC increased its position in Edwards Lifesciences by 5,092.4% during the fourth quarter. Arlington Trust Co LLC now owns 12,306 shares of the medical research company’s stock worth $938,000 after buying an additional 12,069 shares during the period. Versor Investments LP lifted its stake in Edwards Lifesciences by 83.3% in the third quarter. Versor Investments LP now owns 4,496 shares of the medical research company’s stock valued at $311,000 after buying an additional 2,043 shares during the last quarter. Finally, HealthInvest Partners AB purchased a new position in shares of Edwards Lifesciences during the fourth quarter worth approximately $1,587,000. Institutional investors and hedge funds own 79.46% 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, 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.