Investors Buy Edwards Lifesciences (EW) on Weakness After Insider Selling

Investors bought shares of Edwards Lifesciences Corp (NYSE:EW) on weakness during trading hours on Friday following insider selling activity. $109.43 million flowed into the stock on the tick-up and $36.05 million flowed out of the stock on the tick-down, for a money net flow of $73.38 million into the stock. Of all stocks tracked, Edwards Lifesciences had the 33rd highest net in-flow for the day. Edwards Lifesciences traded down ($0.09) for the day and closed at $114.22Specifically, VP Donald E. Bobo, Jr. sold 5,300 shares of the business’s stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $116.45, for a total transaction of $617,185.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Larry L. Wood sold 18,960 shares of the business’s stock in a transaction dated Monday, October 16th. The stock was sold at an average price of $108.54, for a total value of $2,057,918.40. The disclosure for this sale can be found here. Insiders have sold a total of 139,580 shares of company stock valued at $14,887,125 in the last ninety days. Insiders own 2.13% of the company’s stock.

EW has been the subject of several recent analyst reports. BidaskClub lowered Edwards Lifesciences from a “buy” rating to a “hold” rating in a report on Friday, August 25th. William Blair reissued an “outperform” rating on shares of Edwards Lifesciences in a report on Monday, August 28th. BMO Capital Markets reissued a “buy” rating and set a $132.00 price objective on shares of Edwards Lifesciences in a report on Friday, September 1st. Royal Bank of Canada reissued a “buy” rating and set a $130.00 price objective on shares of Edwards Lifesciences in a report on Friday, September 1st. Finally, Zacks Investment Research lowered Edwards Lifesciences from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 26th. Six analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. Edwards Lifesciences presently has an average rating of “Buy” and an average price target of $126.43.

The company has a market cap of $24,175.47, a P/E ratio of 31.65, a PEG ratio of 2.04 and a beta of 0.51. 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 earnings results on Tuesday, October 24th. The medical research company reported $0.84 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.86 by ($0.02). Edwards Lifesciences had a return on equity of 22.36% and a net margin of 20.71%. The firm had revenue of $821.50 million during the quarter, compared to analysts’ expectations of $833.85 million. During the same period in the prior year, the company earned $0.68 EPS. The firm’s quarterly revenue was up 11.1% compared to the same quarter last year. analysts predict that Edwards Lifesciences Corp will post 3.76 EPS for the current year.

Edwards Lifesciences announced that its Board of Directors has authorized a stock buyback plan on Thursday, December 7th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the medical research company to reacquire shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

A number of hedge funds have recently made changes to their positions in the business. Parametric Portfolio Associates LLC lifted its position in Edwards Lifesciences by 7.2% in the third quarter. Parametric Portfolio Associates LLC now owns 533,627 shares of the medical research company’s stock valued at $58,331,000 after purchasing an additional 36,044 shares during the last quarter. GSA Capital Partners LLP lifted its position in Edwards Lifesciences by 594.9% in the third quarter. GSA Capital Partners LLP now owns 22,565 shares of the medical research company’s stock valued at $2,467,000 after purchasing an additional 19,318 shares during the last quarter. Belpointe Asset Management LLC bought a new stake in Edwards Lifesciences in the third quarter valued at approximately $354,000. IFM Investors Pty Ltd bought a new stake in Edwards Lifesciences in the third quarter valued at approximately $637,000. Finally, Dana Investment Advisors Inc. lifted its position in Edwards Lifesciences by 772.9% in the third quarter. Dana Investment Advisors Inc. now owns 27,462 shares of the medical research company’s stock valued at $3,002,000 after purchasing an additional 24,316 shares during the last quarter. Hedge funds and other institutional investors own 81.82% of the company’s stock.

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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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