Edwards Lifesciences Corp (NYSE:EW) VP Jean-Luc M. Lemercier sold 5,633 shares of the business’s stock in a transaction on Wednesday, March 7th. The stock was sold at an average price of $136.29, for a total value of $767,721.57. Following the sale, the vice president now owns 44,298 shares of the company’s stock, valued at approximately $6,037,374.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Edwards Lifesciences Corp (NYSE:EW) opened at $142.34 on Friday. The firm has a market capitalization of $29,894.82, a P/E ratio of 49.42, a PEG ratio of 2.09 and a beta of 0.56. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.41 and a current ratio of 1.80. Edwards Lifesciences Corp has a 52 week low of $91.30 and a 52 week high of $143.22.
Edwards Lifesciences (NYSE:EW) last announced its earnings results on Thursday, February 1st. The medical research company reported $0.94 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.91 by $0.03. The company had revenue of $888.50 million for the quarter, compared to analyst estimates of $868.45 million. Edwards Lifesciences had a return on equity of 27.78% and a net margin of 18.11%. The firm’s quarterly revenue was up 15.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.75 earnings per share. research analysts expect that Edwards Lifesciences Corp will post 4.53 EPS for the current year.
Edwards Lifesciences declared that its Board of Directors has authorized a share buyback program 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 programs are typically an indication that the company’s management believes its shares are undervalued.
EW has been the subject of a number of recent analyst reports. Canaccord Genuity reiterated a “buy” rating and issued a $137.00 price objective on shares of Edwards Lifesciences in a report on Wednesday, November 29th. BMO Capital Markets reissued a “buy” rating and issued a $137.00 target price on shares of Edwards Lifesciences in a research note on Friday, December 8th. Cowen set a $135.00 price objective on Edwards Lifesciences and gave the stock 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. Finally, Evercore ISI initiated coverage on Edwards Lifesciences in a research report on Wednesday, January 3rd. They set an “outperform” rating and a $140.00 price objective for the company. Three investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $141.15.
Several hedge funds and other institutional investors have recently made changes to their positions in EW. Canada Pension Plan Investment Board grew its position in Edwards Lifesciences by 756.6% during the third quarter. Canada Pension Plan Investment Board now owns 6,193 shares of the medical research company’s stock worth $677,000 after buying an additional 5,470 shares in the last quarter. Dupont Capital Management Corp acquired a new stake in Edwards Lifesciences during the third quarter worth approximately $142,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its position in Edwards Lifesciences by 2.6% during the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 31,325 shares of the medical research company’s stock worth $3,424,000 after buying an additional 800 shares in the last quarter. Chicago Equity Partners LLC acquired a new stake in Edwards Lifesciences during the third quarter worth approximately $308,000. Finally, Stevens Capital Management LP acquired a new stake in Edwards Lifesciences during the third quarter worth approximately $3,290,000. Institutional investors own 82.86% of the company’s stock.
About Edwards Lifesciences
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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