Traders Buy Edwards Lifesciences Corporation (EW) on Weakness on Analyst Downgrade

Investors bought shares of Edwards Lifesciences Corporation (NYSE:EW) on weakness during trading hours on Friday after Deutsche Bank AG lowered their price target on the stock from $122.00 to $115.00. $49.40 million flowed into the stock on the tick-up and $34.25 million flowed out of the stock on the tick-down, for a money net flow of $15.15 million into the stock. Of all stocks tracked, Edwards Lifesciences Corporation had the 33rd highest net in-flow for the day. Edwards Lifesciences Corporation traded down ($1.45) for the day and closed at $101.92

Other analysts have also recently issued research reports about the stock. Morgan Stanley dropped their price objective on shares of Edwards Lifesciences Corporation from $133.00 to $120.00 and set an “overweight” rating on the stock in a report on Thursday. Canaccord Genuity reaffirmed a “buy” rating and issued a $135.00 price objective (down previously from $155.00) on shares of Edwards Lifesciences Corporation in a report on Wednesday. Barclays PLC dropped their price objective on shares of Edwards Lifesciences Corporation from $120.00 to $118.00 and set an “equal weight” rating on the stock in a report on Wednesday. SunTrust Banks, Inc. set a $124.00 price objective on shares of Edwards Lifesciences Corporation and gave the stock a “buy” rating in a report on Wednesday. Finally, Jefferies Group LLC reaffirmed a “buy” rating and issued a $115.00 price objective on shares of Edwards Lifesciences Corporation in a report on Friday, June 30th. Seven research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $125.39.



In other Edwards Lifesciences Corporation news, CEO Michael A. Mussallem sold 32,900 shares of the firm’s stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $114.80, for a total value of $3,776,920.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Catherine M. Szyman sold 4,681 shares of the firm’s stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $115.78, for a total transaction of $541,966.18. The disclosure for this sale can be found here. Insiders sold a total of 195,861 shares of company stock worth $22,218,268 in the last ninety days. Corporate insiders own 2.13% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the business. ETF Managers Group LLC acquired a new stake in shares of Edwards Lifesciences Corporation during the second quarter worth approximately $112,000. Shine Investment Advisory Services Inc. acquired a new stake in shares of Edwards Lifesciences Corporation during the second quarter worth approximately $126,000. Cornerstone Advisors Inc. boosted its holdings in shares of Edwards Lifesciences Corporation by 25.1% during the second quarter. Cornerstone Advisors Inc. now owns 1,092 shares of the medical research company’s stock worth $129,000 after purchasing an additional 219 shares during the period. Alexandria Capital LLC boosted its holdings in shares of Edwards Lifesciences Corporation by 1.7% during the second quarter. Alexandria Capital LLC now owns 1,146 shares of the medical research company’s stock worth $136,000 after purchasing an additional 19 shares during the period. Finally, MPS Loria Financial Planners LLC acquired a new stake in shares of Edwards Lifesciences Corporation during the second quarter worth approximately $140,000. Institutional investors own 82.06% of the company’s stock.

The company has a 50 day moving average of $111.02 and a 200-day moving average of $112.41. The company has a market capitalization of $21.52 billion, a price-to-earnings ratio of 30.91 and a beta of 0.62.

Edwards Lifesciences Corporation (NYSE:EW) last posted its earnings results on Tuesday, October 24th. The medical research company reported $0.84 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.02). Edwards Lifesciences Corporation had a return on equity of 27.22% and a net margin of 22.47%. The business had revenue of $821.50 million for the quarter, compared to the consensus estimate of $833.85 million. During the same period in the previous year, the company posted $0.68 earnings per share. Edwards Lifesciences Corporation’s revenue for the quarter was up 11.1% compared to the same quarter last year. On average, equities analysts anticipate that Edwards Lifesciences Corporation will post $3.75 EPS for the current year.

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About Edwards Lifesciences Corporation

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.

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