Edwards Lifesciences Co. (NYSE:EW) Short Interest Update

Edwards Lifesciences Co. (NYSE:EW - Get Free Report) saw a large drop in short interest during the month of October. As of October 31st, there was short interest totalling 7,700,000 shares, a drop of 6.3% from the October 15th total of 8,220,000 shares. Based on an average daily volume of 6,070,000 shares, the short-interest ratio is currently 1.3 days. Currently, 1.3% of the shares of the company are short sold.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on EW shares. Truist Financial dropped their price target on Edwards Lifesciences from $71.00 to $70.00 and set a "hold" rating for the company in a research report on Friday, October 25th. Wells Fargo & Company decreased their price target on Edwards Lifesciences from $90.00 to $80.00 and set an "overweight" rating for the company in a research note on Monday, September 9th. Jefferies Financial Group downgraded Edwards Lifesciences from a "buy" rating to a "hold" rating and lowered their price objective for the stock from $85.00 to $70.00 in a research note on Wednesday, September 18th. Royal Bank of Canada cut their price objective on shares of Edwards Lifesciences from $85.00 to $75.00 and set an "outperform" rating on the stock in a research note on Tuesday, October 8th. Finally, StockNews.com cut shares of Edwards Lifesciences from a "buy" rating to a "hold" rating in a research note on Thursday, July 25th. Seventeen analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat, Edwards Lifesciences has an average rating of "Hold" and a consensus target price of $75.67.

Insiders Place Their Bets

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 shares were sold at an average price of $69.95, for a total value of $87,437.50. Following the transaction, the vice president now directly owns 29,333 shares of the company's stock, valued at approximately $2,051,843.35. The trade was a 4.09 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Larry L. Wood sold 25,000 shares of the firm's stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $65.91, for a total value of $1,647,750.00. Following the completion of the sale, the insider now directly owns 198,526 shares of the company's stock, valued at $13,084,848.66. This represents a 11.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 41,250 shares of company stock valued at $2,744,438. Insiders own 1.29% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Crewe Advisors LLC purchased a new stake in Edwards Lifesciences during the first quarter valued at $28,000. First Community Trust NA purchased a new position in Edwards Lifesciences during the 2nd quarter valued at approximately $29,000. Webster Bank N. A. purchased a new position in shares of Edwards Lifesciences in the second quarter valued at $39,000. FSA Wealth Management LLC bought a new stake in shares of Edwards Lifesciences in the 3rd quarter worth about $30,000. Finally, Versant Capital Management Inc raised its position in Edwards Lifesciences by 206.3% during the second quarter. Versant Capital Management Inc now owns 484 shares of the medical research company's stock valued at $45,000 after purchasing an additional 326 shares during the period. Institutional investors own 79.46% of the company's stock.

Edwards Lifesciences Stock Performance

NYSE:EW traded up $2.13 during trading on Monday, reaching $69.89. The company's stock had a trading volume of 7,021,039 shares, compared to its average volume of 4,654,247. The firm has a 50 day moving average of $67.44 and a 200-day moving average of $76.12. Edwards Lifesciences has a 12 month low of $58.93 and a 12 month high of $96.12. The firm has a market cap of $41.22 billion, a price-to-earnings ratio of 9.78, a price-to-earnings-growth ratio of 3.81 and a beta of 1.12. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.89 and a current ratio of 3.46.

Edwards Lifesciences (NYSE:EW - Get Free Report) last released its quarterly earnings data on Thursday, October 24th. The medical research company reported $0.67 EPS for the quarter, meeting analysts' consensus estimates of $0.67. Edwards Lifesciences had a net margin of 70.82% and a return on equity of 20.76%. The company had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.57 billion. During the same period last year, the business earned $0.59 earnings per share. Edwards Lifesciences's revenue was up 8.9% compared to the same quarter last year. Research analysts expect that Edwards Lifesciences will post 2.57 EPS for the current fiscal year.

About Edwards Lifesciences

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.