Edwards Lifesciences (NYSE:EW) Hits New 1-Year Low at $85.22

Edwards Lifesciences Co. (NYSE:EWGet Rating) shares hit a new 52-week low on Wednesday . The company traded as low as $85.22 and last traded at $85.22, with a volume of 66784 shares traded. The stock had previously closed at $87.19.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Canaccord Genuity Group downgraded shares of Edwards Lifesciences from a “buy” rating to a “hold” rating and lowered their target price for the stock from $115.00 to $106.00 in a report on Friday, July 29th. Canaccord Genuity Group downgraded shares of Edwards Lifesciences from a “buy” rating to a “hold” rating and decreased their price objective for the company from $115.00 to $106.00 in a report on Friday, July 29th. Cowen decreased their price objective on shares of Edwards Lifesciences from $140.00 to $125.00 in a report on Monday, July 11th. Truist Financial decreased their price objective on shares of Edwards Lifesciences from $117.00 to $112.00 and set a “buy” rating on the stock in a report on Thursday. Finally, Cowen decreased their price objective on shares of Edwards Lifesciences from $140.00 to $125.00 in a report on Monday, July 11th. Three research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $125.81.

Edwards Lifesciences Trading Down 1.2 %

The business’s fifty day moving average is $97.39 and its 200-day moving average is $101.83. The firm has a market cap of $52.18 billion, a P/E ratio of 36.44, a price-to-earnings-growth ratio of 2.52 and a beta of 1.14. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.60 and a current ratio of 3.37.

Edwards Lifesciences (NYSE:EWGet Rating) last issued its quarterly earnings data on Thursday, July 28th. The medical research company reported $0.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.01). The business had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.40 billion. Edwards Lifesciences had a net margin of 27.18% and a return on equity of 24.77%. The firm’s quarterly revenue was down .2% compared to the same quarter last year. During the same quarter last year, the business earned $0.64 EPS. Analysts predict that Edwards Lifesciences Co. will post 2.51 EPS for the current year.

Insider Buying and Selling at Edwards Lifesciences

In other Edwards Lifesciences news, CEO Michael A. Mussallem sold 19,875 shares of the stock in a transaction that occurred on Thursday, September 22nd. The shares were sold at an average price of $84.17, for a total transaction of $1,672,878.75. Following the completion of the sale, the chief executive officer now owns 157,353 shares of the company’s stock, valued at approximately $13,244,402.01. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Edwards Lifesciences news, CEO Michael A. Mussallem sold 19,875 shares of the stock in a transaction that occurred on Thursday, September 22nd. The shares were sold at an average price of $84.17, for a total transaction of $1,672,878.75. Following the completion of the sale, the chief executive officer now owns 157,353 shares of the company’s stock, valued at approximately $13,244,402.01. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Donald E. Bobo, Jr. sold 6,725 shares of the stock in a transaction that occurred on Friday, July 8th. The shares were sold at an average price of $97.60, for a total transaction of $656,360.00. Following the sale, the vice president now directly owns 62,561 shares of the company’s stock, valued at approximately $6,105,953.60. The disclosure for this sale can be found here. In the last 90 days, insiders sold 86,128 shares of company stock valued at $8,223,839. 1.29% of the stock is currently owned by company insiders.

Institutional Trading of Edwards Lifesciences

Several large investors have recently modified their holdings of the stock. American National Bank lifted its holdings in shares of Edwards Lifesciences by 99.1% in the 1st quarter. American National Bank now owns 233 shares of the medical research company’s stock worth $27,000 after purchasing an additional 116 shares in the last quarter. Core Alternative Capital lifted its holdings in shares of Edwards Lifesciences by 513.2% in the 1st quarter. Core Alternative Capital now owns 233 shares of the medical research company’s stock worth $27,000 after purchasing an additional 195 shares in the last quarter. Crewe Advisors LLC bought a new position in shares of Edwards Lifesciences in the 2nd quarter worth $28,000. Rinkey Investments bought a new position in shares of Edwards Lifesciences in the 4th quarter worth $29,000. Finally, JJJ Advisors Inc. lifted its holdings in shares of Edwards Lifesciences by 79.1% in the 1st quarter. JJJ Advisors Inc. now owns 283 shares of the medical research company’s stock worth $33,000 after purchasing an additional 125 shares in the last quarter. Institutional investors and hedge funds own 81.33% of the company’s stock.

About Edwards Lifesciences

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Edwards Lifesciences Corporation provides products and technologies for structural heart disease, and critical care and surgical monitoring in the United States, Europe, Japan, and internationally. It offers transcatheter heart valve replacement products for the minimally invasive replacement of heart valves; and transcatheter heart valve repair and replacement products to treat mitral and tricuspid valve diseases.

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