Edwards Lifesciences (NYSE:EW) Trading Up 2.3%

Edwards Lifesciences Co. (NYSE:EW) traded up 2.3% during trading on Tuesday . The stock traded as high as $70.01 and last traded at $69.81. 1,320,246 shares traded hands during trading, a decline of 67% from the average session volume of 4,060,616 shares. The stock had previously closed at $68.26.

Analyst Ratings Changes

Several research analysts have commented on the stock. Evercore ISI dropped their price objective on shares of Edwards Lifesciences from $91.00 to $76.00 and set an “in-line” rating for the company in a research note on Thursday, July 25th. Robert W. Baird lowered shares of Edwards Lifesciences from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $102.00 to $70.00 in a research note on Thursday, July 25th. Oppenheimer dropped their price objective on shares of Edwards Lifesciences from $100.00 to $90.00 and set an “outperform” rating for the company in a research note on Thursday, July 25th. Stifel Nicolaus dropped their price objective on shares of Edwards Lifesciences from $85.00 to $70.00 and set a “hold” rating for the company in a research note on Thursday, July 25th. Finally, Baird R W downgraded Edwards Lifesciences from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 25th. Fourteen equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $82.10.

Edwards Lifesciences Price Performance

The company has a debt-to-equity ratio of 0.08, a current ratio of 3.71 and a quick ratio of 2.87. The firm has a fifty day moving average of $80.41 and a two-hundred day moving average of $85.82. The stock has a market capitalization of $41.81 billion, a P/E ratio of 29.42, a P/E/G ratio of 2.57 and a beta of 1.11.

Edwards Lifesciences (NYSE:EW) last announced its earnings results on Wednesday, July 24th. The medical research company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.01. The business had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.65 billion. Edwards Lifesciences had a net margin of 24.55% and a return on equity of 22.35%. The firm’s revenue was up 6.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.66 earnings per share. On average, analysts predict that Edwards Lifesciences Co. will post 2.71 EPS for the current year.

Insiders Place Their Bets

In other Edwards Lifesciences news, VP Donald E. Bobo, Jr. sold 5,000 shares of the business’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $66.08, for a total value of $330,400.00. Following the completion of the transaction, the vice president now directly owns 46,936 shares in the company, valued at $3,101,530.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Edwards Lifesciences news, VP Donald E. Bobo, Jr. sold 5,000 shares of the business’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $66.08, for a total value of $330,400.00. Following the completion of the transaction, the vice president now directly owns 46,936 shares in the company, valued at $3,101,530.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Bernard J. Zovighian sold 8,617 shares of the business’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $87.68, for a total value of $755,538.56. Following the sale, the chief executive officer now owns 68,218 shares in the company, valued at approximately $5,981,354.24. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 23,617 shares of company stock worth $1,990,089. 1.29% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Edwards Lifesciences

A number of large investors have recently modified their holdings of EW. Norges Bank purchased a new stake in Edwards Lifesciences in the fourth quarter valued at approximately $648,540,000. Brown Advisory Inc. increased its holdings in Edwards Lifesciences by 20.1% in the 4th quarter. Brown Advisory Inc. now owns 18,181,420 shares of the medical research company’s stock worth $1,386,333,000 after buying an additional 3,048,274 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in Edwards Lifesciences by 57.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,516,260 shares of the medical research company’s stock worth $622,695,000 after buying an additional 2,390,137 shares during the period. CIBC Private Wealth Group LLC increased its holdings in Edwards Lifesciences by 197.0% in the 4th quarter. CIBC Private Wealth Group LLC now owns 3,446,758 shares of the medical research company’s stock worth $262,815,000 after buying an additional 2,286,119 shares during the period. Finally, Bank of New York Mellon Corp increased its holdings in Edwards Lifesciences by 9.5% in the 1st quarter. Bank of New York Mellon Corp now owns 18,973,304 shares of the medical research company’s stock worth $1,813,089,000 after buying an additional 1,644,869 shares during the period. Hedge funds and other institutional investors 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.