Edwards Lifesciences Co. (NYSE:EW) Sees Significant Decline in Short Interest

Edwards Lifesciences Co. (NYSE:EW) was the target of a significant decrease in short interest in October. As of October 15th, there was short interest totalling 8,220,000 shares, a decrease of 14.5% from the September 30th total of 9,610,000 shares. Based on an average daily trading volume, of 7,090,000 shares, the days-to-cover ratio is presently 1.2 days. Currently, 1.4% of the company’s stock are sold short.

Edwards Lifesciences Price Performance

Shares of Edwards Lifesciences stock opened at $68.52 on Tuesday. The firm has a market cap of $41.29 billion, a PE ratio of 29.53, a price-to-earnings-growth ratio of 3.00 and a beta of 1.13. Edwards Lifesciences has a 12-month low of $58.93 and a 12-month high of $96.12. The company has a quick ratio of 2.87, a current ratio of 3.71 and a debt-to-equity ratio of 0.08. The company’s fifty day simple moving average is $68.10 and its two-hundred day simple moving average is $78.13.

Edwards Lifesciences (NYSE:EW) last announced its earnings results on Thursday, October 24th. The medical research company reported $0.67 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.67. The firm had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.57 billion. Edwards Lifesciences had a net margin of 24.55% and a return on equity of 22.35%. The company’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.59 EPS. As a group, equities analysts expect that Edwards Lifesciences will post 2.61 EPS for the current year.

Insider Buying and Selling

In other Edwards Lifesciences news, VP Daveen Chopra sold 1,250 shares of the business’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $69.95, for a total value of $87,437.50. Following the transaction, the vice president now owns 29,333 shares of the company’s stock, valued at approximately $2,051,843.35. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Edwards Lifesciences news, VP Daveen Chopra sold 1,250 shares of the business’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $69.95, for a total value of $87,437.50. Following the transaction, the vice president now owns 29,333 shares of the company’s stock, valued at approximately $2,051,843.35. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Donald E. Bobo, Jr. sold 5,000 shares of the business’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $66.08, for a total value of $330,400.00. Following the completion of the transaction, the vice president now directly owns 46,936 shares in the company, valued at approximately $3,101,530.88. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 16,250 shares of company stock worth $1,099,238. 1.29% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Edwards Lifesciences

Several hedge funds have recently bought and sold shares of the business. Park Avenue Securities LLC boosted its stake in Edwards Lifesciences by 0.5% during the second quarter. Park Avenue Securities LLC now owns 23,484 shares of the medical research company’s stock worth $2,169,000 after acquiring an additional 108 shares in the last quarter. City State Bank raised its holdings in Edwards Lifesciences by 16.5% in the second quarter. City State Bank now owns 917 shares of the medical research company’s stock worth $85,000 after buying an additional 130 shares during the last quarter. Valley National Advisers Inc. raised its holdings in Edwards Lifesciences by 6.0% in the first quarter. Valley National Advisers Inc. now owns 2,677 shares of the medical research company’s stock worth $255,000 after buying an additional 152 shares during the last quarter. Choreo LLC raised its holdings in Edwards Lifesciences by 4.1% in the first quarter. Choreo LLC now owns 3,840 shares of the medical research company’s stock worth $367,000 after buying an additional 153 shares during the last quarter. Finally, Stableford Capital II LLC raised its holdings in Edwards Lifesciences by 2.7% in the second quarter. Stableford Capital II LLC now owns 6,104 shares of the medical research company’s stock worth $533,000 after buying an additional 159 shares during the last quarter. Institutional investors own 79.46% of the company’s stock.

Analyst Upgrades and Downgrades

EW has been the topic of a number of analyst reports. Robert W. Baird decreased their price objective on Edwards Lifesciences from $73.00 to $68.00 and set a “neutral” rating on the stock in a research note on Friday. Barclays decreased their price objective on Edwards Lifesciences from $90.00 to $80.00 and set an “overweight” rating on the stock in a research note on Monday, September 9th. Wolfe Research upgraded Edwards Lifesciences from an “underperform” rating to a “peer perform” rating in a research note on Monday, July 29th. Wells Fargo & Company decreased their price objective on Edwards Lifesciences from $90.00 to $80.00 and set an “overweight” rating on the stock in a research note on Monday, September 9th. Finally, Baird R W lowered Edwards Lifesciences from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 25th. Fifteen research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Edwards Lifesciences presently has an average rating of “Hold” and a consensus target price of $75.67.

Edwards Lifesciences Company Profile

Edwards Lifesciences Corporation provides products and technologies for structural heart disease and critical care monitoring in the United States, Europe, Japan, and internationally. It offers transcatheter heart valve replacement products for the minimally invasive replacement of aortic heart valves under the Edwards SAPIEN family of valves system; and transcatheter heart valve repair and replacement products to treat mitral and tricuspid valve diseases under the PASCAL PRECISION and Cardioband names.