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 firm’s stock in a transaction that occurred on Thursday, January 4th. The shares were sold at an average price of $114.97, for a total transaction of $3,771,016.00. The sale was disclosed in a filing with the SEC, which is available through this link.

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

  • On Tuesday, December 19th, Michael A. Mussallem sold 32,800 shares of Edwards Lifesciences stock. The shares were sold at an average price of $114.82, for a total transaction of $3,766,096.00.
  • On Monday, November 20th, Michael A. Mussallem sold 32,900 shares of Edwards Lifesciences stock. The stock was sold at an average price of $106.86, for a total transaction of $3,515,694.00.
  • On Monday, October 30th, Michael A. Mussallem sold 32,900 shares of Edwards Lifesciences stock. The stock was sold at an average price of $100.93, for a total transaction of $3,320,597.00.

Shares of Edwards Lifesciences Corp (NYSE EW) traded up $0.84 during trading on Monday, hitting $120.83. 1,029,800 shares of the stock traded hands, compared to its average volume of 1,247,700. The stock has a market cap of $25,570.00, a PE ratio of 35.13, a PEG ratio of 1.94 and a beta of 0.51. Edwards Lifesciences Corp has a 1-year low of $86.55 and a 1-year high of $121.45. The company has a quick ratio of 2.76, a current ratio of 3.49 and a debt-to-equity ratio of 0.33.

Edwards Lifesciences (NYSE:EW) last issued its quarterly earnings results on Tuesday, October 24th. The medical research company reported $0.84 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.86 by ($0.02). Edwards Lifesciences 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 analysts’ expectations of $833.85 million. During the same quarter in the prior year, the business earned $0.68 EPS. The company’s revenue was up 11.1% compared to the same quarter last year. equities research analysts expect that Edwards Lifesciences Corp will post 3.76 EPS for the current fiscal year.

Edwards Lifesciences declared that its board has authorized a share repurchase plan on Thursday, December 7th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the medical research company to buy shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.

EW has been the topic of several research reports. Zacks Investment Research cut shares of Edwards Lifesciences from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 26th. Cowen set a $135.00 target price on shares of Edwards Lifesciences and gave the stock a “buy” rating in a report on Sunday, December 10th. Deutsche Bank dropped their target price on shares of Edwards Lifesciences from $122.00 to $115.00 and set a “hold” rating on the stock in a report on Thursday, October 26th. Evercore ISI initiated coverage on shares of Edwards Lifesciences in a report on Wednesday, January 3rd. They issued an “outperform” rating and a $140.00 target price on the stock. Finally, Canaccord Genuity restated a “buy” rating and issued a $137.00 target price on shares of Edwards Lifesciences in a report on Wednesday, November 29th. Six investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $129.57.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. ETF Managers Group LLC bought a new stake in Edwards Lifesciences in the 2nd quarter valued at $112,000. MPS Loria Financial Planners LLC bought a new stake in Edwards Lifesciences in the 2nd quarter valued at $140,000. Dupont Capital Management Corp bought a new stake in Edwards Lifesciences in the 3rd quarter valued at $142,000. Captrust Financial Advisors bought a new stake in Edwards Lifesciences in the 2nd quarter valued at $149,000. Finally, Salem Investment Counselors Inc. increased its holdings 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 acquiring an additional 199 shares during the last quarter. Institutional investors own 81.61% of the company’s stock.

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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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