Edwards Lifesciences Co. (NYSE:EW) CEO Michael A. Mussallem Sells 19,875 Shares

Edwards Lifesciences Co. (NYSE:EW – Get Rating) CEO Michael A. Mussallem sold 19,875 shares of the firm’s stock in a transaction that occurred on Tuesday, March 14th. The stock was sold at an average price of $77.61, for a total transaction of $1,542,498.75. Following the sale, the chief executive officer now owns 60,948 shares in the company, valued at approximately $4,730,174.28. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Edwards Lifesciences Trading Up 2.1 %

EW stock opened at $78.20 on Wednesday. The firm has a fifty day moving average price of $78.08 and a 200 day moving average price of $79.52. Edwards Lifesciences Co. has a fifty-two week low of $67.13 and a fifty-two week high of $131.10. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.17 and a current ratio of 3.03. The firm has a market cap of $47.57 billion, a PE ratio of 32.05, a price-to-earnings-growth ratio of 4.33 and a beta of 1.01.

Edwards Lifesciences (NYSE:EW – Get Rating) last posted its quarterly earnings data on Tuesday, January 31st. The medical research company reported $0.64 EPS for the quarter, topping the consensus estimate of $0.61 by $0.03. The company had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.33 billion. Edwards Lifesciences had a net margin of 28.27% and a return on equity of 26.05%. Edwards Lifesciences’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.51 earnings per share. Sell-side analysts anticipate that Edwards Lifesciences Co. will post 2.52 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Magnus Financial Group LLC boosted its position in Edwards Lifesciences by 3.9% in the second quarter. Magnus Financial Group LLC now owns 2,866 shares of the medical research company’s stock valued at $273,000 after buying an additional 108 shares during the last quarter. Advisors Asset Management Inc. boosted its position in Edwards Lifesciences by 0.3% in the 1st quarter. Advisors Asset Management Inc. now owns 43,556 shares of the medical research company’s stock worth $5,127,000 after purchasing an additional 117 shares in the last quarter. Geller Advisors LLC boosted its position in Edwards Lifesciences by 6.5% in the 1st quarter. Geller Advisors LLC now owns 1,965 shares of the medical research company’s stock worth $231,000 after purchasing an additional 120 shares in the last quarter. Pacer Advisors Inc. boosted its position in Edwards Lifesciences by 1.8% in the 3rd quarter. Pacer Advisors Inc. now owns 7,425 shares of the medical research company’s stock worth $614,000 after purchasing an additional 134 shares in the last quarter. Finally, Brown Brothers Harriman & Co. boosted its position in Edwards Lifesciences by 25.2% in the 2nd quarter. Brown Brothers Harriman & Co. now owns 685 shares of the medical research company’s stock worth $65,000 after purchasing an additional 138 shares in the last quarter. 80.35% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Morgan Stanley raised their target price on shares of Edwards Lifesciences from $92.00 to $95.00 and gave the stock an “overweight” rating in a research note on Friday, January 6th. Wolfe Research cut shares of Edwards Lifesciences from an “outperform” rating to a “market perform” rating in a research report on Thursday, December 1st. Wells Fargo & Company cut shares of Edwards Lifesciences from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $97.00 to $78.00 in a research report on Wednesday, March 8th. Mizuho reduced their price objective on shares of Edwards Lifesciences from $100.00 to $85.00 and set a “buy” rating on the stock in a research report on Wednesday, December 7th. Finally, Sanford C. Bernstein cut shares of Edwards Lifesciences from an “outperform” rating to an “underperform” rating and reduced their price objective for the company from $95.00 to $66.00 in a research report on Tuesday, January 31st. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, Edwards Lifesciences currently has a consensus rating of “Hold” and a consensus target price of $88.95.

Edwards Lifesciences Company Profile

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Edwards Lifesciences Corp. engages in patient-focused medical innovations for heart disease and critical care monitoring. Its products are categorized into four main areas: Transcatheter Aortic Valve Replacement, Transcatheter Mitral and Tricuspid Therapies, Surgical Structural Heart, and Critical Care.