Trade Report: Today, Traders Sell Shares of Edwards Lifesciences Corp (EW) on Strength Following Insider Selling

Today, Traders Sell Shares of Edwards Lifesciences Corp (EW) on Strength Following Insider Selling

Traders sold shares of Edwards Lifesciences Corp (NYSE:EW) on strength during trading hours on Wednesday following insider selling activity. $39.64 million flowed into the stock on the tick-up and $55.03 million flowed out of the stock on the tick-down, for a money net flow of $15.39 million out of the stock. Of all equities tracked, Edwards Lifesciences Corp had the 0th highest net out-flow for the day. Edwards Lifesciences Corp traded up $1.82 for the day and closed at $86.86Specifically, VP Donald E. Bobo, Jr. sold 18,000 shares of the company’s stock in a transaction that occurred on Friday, September 2nd. The stock was sold at an average price of $115.78, for a total value of $2,084,040.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael A. Mussallem sold 49,100 shares of the company’s stock in a transaction that occurred on Thursday, October 27th. The stock was sold at an average price of $92.77, for a total value of $4,555,007.00. The disclosure for this sale can be found here. Insiders own 2.37% of the company’s stock.

A number of brokerages have issued reports on EW. Zacks Investment Research raised Edwards Lifesciences Corp from a “hold” rating to a “buy” rating and set a $128.00 target price on the stock in a research report on Tuesday, August 16th. Jefferies Group reaffirmed a “buy” rating and issued a $115.00 target price (down from $125.00) on shares of Edwards Lifesciences Corp in a research report on Wednesday, October 26th. Evercore ISI reaffirmed a “hold” rating and issued a $115.00 target price on shares of Edwards Lifesciences Corp in a research report on Friday, August 19th. JPMorgan Chase & Co. reaffirmed a “buy” rating and issued a $130.00 target price on shares of Edwards Lifesciences Corp in a research report on Thursday, July 28th. Finally, Stifel Nicolaus cut their target price on Edwards Lifesciences Corp from $122.00 to $114.00 and set a “buy” rating on the stock in a research report on Wednesday, October 26th. One analyst has rated the stock with a sell rating, five have given a hold rating and twenty-two have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $117.68.

The firm has a market capitalization of $18.57 billion, a PE ratio of 34.33 and a beta of 0.71. The stock has a 50 day moving average of $102.00 and a 200 day moving average of $106.84.

Edwards Lifesciences Corp (NYSE:EW) last announced its quarterly earnings data on Tuesday, October 25th. The medical research company reported $0.68 EPS for the quarter, hitting analysts’ consensus estimates of $0.68. Edwards Lifesciences Corp had a return on equity of 24.32% and a net margin of 19.24%. The business earned $739.40 million during the quarter, compared to analysts’ expectations of $749.14 million. During the same period in the previous year, the firm earned $0.54 earnings per share. The firm’s quarterly revenue was up 20.1% compared to the same quarter last year. On average, analysts predict that Edwards Lifesciences Corp will post $2.88 earnings per share for the current year.

Several large investors have recently made changes to their positions in the company. Bank of Hawaii boosted its stake in shares of Edwards Lifesciences Corp by 0.7% in the third quarter. Bank of Hawaii now owns 2,905 shares of the medical research company’s stock worth $350,000 after buying an additional 20 shares during the period. Municipal Employees Retirement System of Michigan boosted its stake in shares of Edwards Lifesciences Corp by 0.3% in the third quarter. Municipal Employees Retirement System of Michigan now owns 6,700 shares of the medical research company’s stock worth $808,000 after buying an additional 20 shares during the period. Quadrant Capital Group LLC boosted its stake in shares of Edwards Lifesciences Corp by 2.3% in the second quarter. Quadrant Capital Group LLC now owns 1,108 shares of the medical research company’s stock worth $106,000 after buying an additional 25 shares during the period. Sigma Planning Corp boosted its stake in shares of Edwards Lifesciences Corp by 1.2% in the second quarter. Sigma Planning Corp now owns 2,609 shares of the medical research company’s stock worth $260,000 after buying an additional 31 shares during the period. Finally, Seven Bridges Advisors LLC boosted its stake in shares of Edwards Lifesciences Corp by 1.0% in the third quarter. Seven Bridges Advisors LLC now owns 3,536 shares of the medical research company’s stock worth $426,000 after buying an additional 34 shares during the period. 83.99% of the stock is owned by institutional investors and hedge funds.

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