Sunday, June 26, 2022

A company insider recently sold 4,809 shares of Edwards Lifesciences Corporation [EW]. Should You Sale?

Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Edwards Lifesciences Corporation shares valued at $421,990 were sold by Zovighian Bernard J on Jun 14. At $87.75 per share, Zovighian Bernard J sold 4,809 shares. The insider’s holdings dropped to 26,008 shares worth approximately $2.36 million following the completion of this transaction.

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Also, WANG HUIMIN sold 3,675 shares, netting a total of over 322,481 in proceeds. Following the sale of shares at $87.75 each, the insider now holds 99,337 shares.

Before that, MUSSALLEM MICHAEL A had sold 19,875 shares from its account. In a trade valued at $1,728,247, the Chairman & CEO traded Edwards Lifesciences Corporation shares for $86.96 each. Upon closing the transaction, the insider’s holdings decreased to 19,875 shares, worth approximately $14.29 million.

As published in their initiating research note from Truist on April 13, 2022, Edwards Lifesciences Corporation [EW] has been a Buy and the price target has been revised to $145. This represents a 37.39% premium over Wednesday’s closing price. Analysts at Wolfe Research started covering the stock with ‘”an Outperform”‘ outlook in a report released in early April. As of March 16, 2022, Bernstein has increased its “Mkt perform” rating to a “an Outperform” for EW.

Analyzing EW’s Price Performance

On Wednesday, Edwards Lifesciences Corporation [NYSE: EW] rose 1.62% to $90.79. The stock’s lowest price that day was $88.52, but it reached a high of $91.95 in the same session. During the last five days, there has been a surge of approximately 4.96%. Over the course of the year, Edwards Lifesciences Corporation shares have dropped approximately -29.92%. Shares of the company reached a 52-week high of $131.10 on 04/21/22 and a 52-week low of $85.58 on 06/14/22. A 50-day SMA is recorded $102.27, while a 200-day SMA reached $112.05. Nevertheless, trading volume fell to 2.5 million shares from 2.18 million shares the previous day.

Support And Resistance Levels for Edwards Lifesciences Corporation (EW)

According to the 24-hour chart, there is a support level at 88.89, which, if violated, would cause prices to drop to 86.99. In the upper region, resistance lies at 92.32. The next price resistance is at 93.85. RSI (Relative Strength Index) is 41.70 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -3.12, which suggests the price will decrease in the coming days. Percent R is at 66.94%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.

Is Edwards Lifesciences Corporation subject to short interest?

Stocks of Edwards Lifesciences Corporation saw a sharp rise in short interest on Apr 28, 2022 jumping by 0.4 million shares to 4.86 million. Data from Yahoo Finance shows that the short interest on Mar 30, 2022 was 4.46 million shares. A jump of 8.23% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 1.64 of the overall float, the days-to-cover ratio (short ratio) jumped to 1.64.

Which companies own the most shares of Edwards Lifesciences Corporation (EW)?

According to The Vanguard Group, Inc. filings, the company currently owns 47,203,207 shares, which is about 7.59% of the total EW shares outstanding. The investor’s shares have appreciated by 714,093 from its previous 13-F filing of 46489114.0 shares. With the completion of the buy, BlackRock Fund Advisors’s stake is now worth $3,346,809,008. SSgA Funds Management, Inc. reduced a 0.00% interest valued at $2.72 billion while Capital Research & Management Co purchased a 218,908 stake. A total of -918,196 shares of Edwards Lifesciences Corporation were bought by Walter Scott & Partners Ltd. during the quarter, and -606,517 were sold by Wellington Management Co. LLP. In its current portfolio, AllianceBernstein LP holds 14,078,541 shares valued at $1.42 billion.

In terms of Edwards Lifesciences Corporation share price expectations, FactSet research, analysts set an average price target of $125.53 in the next 12 months, up nearly 43.27% from the previous closing price of $89.34. Analysts anticipate Edwards Lifesciences Corporation stock to reach $140.00 by 2022, with the lowest price target being $99.00. In spite of this, 24 analysts ranked Edwards Lifesciences Corporation stock as an Overweight at the end of 2022. On February 02, 2022, UBS assigned a price target of “a Buy” to the stock and upgraded coverage with a $126.

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