Insider Selling: Edwards Lifesciences Corp (NYSE:EW) CEO Sells 32,800 Shares of Stock

Edwards Lifesciences Corp (NYSE:EW) CEO Michael A. Mussallem sold 32,800 shares of the company’s stock in a transaction dated Tuesday, December 19th. The shares were sold at an average price of $114.82, for a total value of $3,766,096.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Michael A. Mussallem also recently made the following trade(s):

  • On Thursday, January 4th, Michael A. Mussallem sold 32,800 shares of Edwards Lifesciences stock. The shares were sold at an average price of $114.97, for a total value of $3,771,016.00.
  • On Monday, November 20th, Michael A. Mussallem sold 32,900 shares of Edwards Lifesciences stock. The shares were sold at an average price of $106.86, for a total value of $3,515,694.00.
  • On Monday, October 30th, Michael A. Mussallem sold 32,900 shares of Edwards Lifesciences stock. The shares were sold at an average price of $100.93, for a total value of $3,320,597.00.

Shares of Edwards Lifesciences Corp (NYSE:EW) traded up $0.84 during mid-day trading on Friday, hitting $120.83. The stock had a trading volume of 1,029,876 shares, compared to its average volume of 1,500,000. The stock has a market cap of $25,570.00, a P/E ratio of 35.13, a price-to-earnings-growth ratio of 1.92 and a beta of 0.51. Edwards Lifesciences Corp has a fifty-two week low of $86.55 and a fifty-two week high of $121.45. The company has a current ratio of 3.49, a quick ratio of 2.76 and a debt-to-equity ratio of 0.33.

Edwards Lifesciences (NYSE:EW) last issued 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). The business had revenue of $821.50 million for the quarter, compared to analysts’ expectations of $833.85 million. Edwards Lifesciences had a return on equity of 27.22% and a net margin of 22.47%. The business’s quarterly revenue was up 11.1% on a year-over-year basis. During the same period last year, the company posted $0.68 earnings per share. analysts expect that Edwards Lifesciences Corp will post 3.76 earnings per share for the current year.

Edwards Lifesciences declared that its Board of Directors has initiated a share repurchase program on Thursday, December 7th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the medical research company to repurchase shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s management believes its stock is undervalued.

Several hedge funds have recently modified their holdings of EW. ETF Managers Group LLC purchased a new position in shares of Edwards Lifesciences during the 2nd quarter worth approximately $112,000. MPS Loria Financial Planners LLC purchased a new position in Edwards Lifesciences in the 2nd quarter valued at approximately $140,000. Dupont Capital Management Corp purchased a new position in Edwards Lifesciences in the 3rd quarter valued at approximately $142,000. Captrust Financial Advisors purchased a new position in Edwards Lifesciences in the 2nd quarter valued at approximately $149,000. Finally, Salem Investment Counselors Inc. increased its stake in Edwards Lifesciences by 16.3% in the 2nd quarter. Salem Investment Counselors Inc. now owns 1,419 shares of the medical research company’s stock valued at $168,000 after purchasing an additional 199 shares in the last quarter. 81.36% of the stock is owned by institutional investors and hedge funds.

EW has been the subject of a number of research analyst reports. Cowen set a $135.00 target price on Edwards Lifesciences and gave the company a “buy” rating in a research report on Sunday, December 10th. JPMorgan Chase & Co. cut Edwards Lifesciences from an “overweight” rating to a “neutral” rating in a research report on Tuesday, January 2nd. SunTrust Banks set a $124.00 price objective on Edwards Lifesciences and gave the stock a “buy” rating in a research report on Wednesday, October 25th. Morgan Stanley decreased their price objective on Edwards Lifesciences from $133.00 to $120.00 and set an “overweight” rating for the company in a research report on Thursday, October 26th. Finally, BMO Capital Markets reaffirmed a “buy” rating and set a $137.00 price objective on shares of Edwards Lifesciences in a research report on Friday, December 8th. Six investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. Edwards Lifesciences has a consensus rating of “Buy” and a consensus price target of $129.57.

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Edwards Lifesciences Company Profile

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.

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

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