Traders Buy Edwards Lifesciences Corporation (EW) on Weakness

Investors purchased shares of Edwards Lifesciences Corporation (NYSE:EW) on weakness during trading on Thursday. $43.78 million flowed into the stock on the tick-up and $22.98 million flowed out of the stock on the tick-down, for a money net flow of $20.80 million into the stock. Of all equities tracked, Edwards Lifesciences Corporation had the 32nd highest net in-flow for the day. Edwards Lifesciences Corporation traded down ($0.28) for the day and closed at $111.50

A number of brokerages recently weighed in on EW. Royal Bank Of Canada reiterated a “buy” rating and set a $130.00 price objective on shares of Edwards Lifesciences Corporation in a report on Friday, September 1st. BMO Capital Markets reiterated a “buy” rating and set a $132.00 price objective on shares of Edwards Lifesciences Corporation in a report on Friday, September 1st. William Blair reiterated an “outperform” rating on shares of Edwards Lifesciences Corporation in a report on Monday, August 28th. BidaskClub lowered shares of Edwards Lifesciences Corporation from a “buy” rating to a “hold” rating in a report on Friday, August 25th. Finally, Canaccord Genuity reiterated a “buy” rating and set a $155.00 price objective (up previously from $150.00) on shares of Edwards Lifesciences Corporation in a report on Sunday, July 30th. Six investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $120.75.

The stock has a market capitalization of $23.97 billion, a PE ratio of 34.43 and a beta of 0.64. The company has a 50-day moving average of $113.99 and a 200-day moving average of $108.88.

Edwards Lifesciences Corporation (NYSE:EW) last announced its quarterly earnings results on Wednesday, July 26th. The medical research company reported $1.08 EPS for the quarter, beating the Zacks’ consensus estimate of $0.88 by $0.20. Edwards Lifesciences Corporation had a return on equity of 27.17% and a net margin of 22.16%. The company had revenue of $842.00 million during the quarter, compared to analysts’ expectations of $839.16 million. During the same period in the prior year, the company earned $0.76 EPS. Edwards Lifesciences Corporation’s revenue was up 10.9% compared to the same quarter last year. Equities research analysts forecast that Edwards Lifesciences Corporation will post $3.78 earnings per share for the current year.

In related news, VP Donald E. Bobo, Jr. sold 5,600 shares of the firm’s stock in a transaction on Thursday, June 29th. The stock was sold at an average price of $117.15, for a total transaction of $656,040.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Michael A. Mussallem sold 32,900 shares of the firm’s stock in a transaction on Thursday, September 7th. The stock was sold at an average price of $112.45, for a total value of $3,699,605.00. The disclosure for this sale can be found here. Insiders sold a total of 163,541 shares of company stock valued at $18,712,719 over the last quarter. 2.13% of the stock is owned by corporate insiders.

A number of large investors have recently made changes to their positions in the stock. Lord Abbett & CO. LLC raised its position in Edwards Lifesciences Corporation by 58.4% during the 2nd quarter. Lord Abbett & CO. LLC now owns 83,718 shares of the medical research company’s stock worth $9,899,000 after purchasing an additional 30,875 shares during the last quarter. Toronto Dominion Bank raised its position in Edwards Lifesciences Corporation by 24.0% during the 2nd quarter. Toronto Dominion Bank now owns 71,106 shares of the medical research company’s stock worth $8,406,000 after purchasing an additional 13,747 shares during the last quarter. Advisory Services Network LLC raised its position in Edwards Lifesciences Corporation by 0.9% during the 2nd quarter. Advisory Services Network LLC now owns 12,565 shares of the medical research company’s stock worth $1,486,000 after purchasing an additional 112 shares during the last quarter. Public Employees Retirement System of Ohio raised its position in Edwards Lifesciences Corporation by 14.2% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 361,650 shares of the medical research company’s stock worth $42,761,000 after purchasing an additional 44,877 shares during the last quarter. Finally, Covington Capital Management raised its position in Edwards Lifesciences Corporation by 28.7% during the 2nd quarter. Covington Capital Management now owns 9,983 shares of the medical research company’s stock worth $1,180,000 after purchasing an additional 2,225 shares during the last quarter. 82.36% of the stock is owned by institutional investors and hedge funds.

ILLEGAL ACTIVITY WARNING: This story was first published by StockNewsTimes and is owned by of StockNewsTimes. If you are reading this story on another site, it was illegally copied and reposted in violation of U.S. & international copyright law. The correct version of this story can be read at https://stocknewstimes.com/2017/09/16/traders-buy-edwards-lifesciences-corporation-ew-on-weakness.html.

About Edwards Lifesciences Corporation

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.

Receive News & Ratings for Edwards Lifesciences Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Edwards Lifesciences Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply