The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Edwards Lifesciences Corporation shares valued at $1,672,839 were sold by MUSSALLEM MICHAEL A on Sep 22. At $84.17 per share, MUSSALLEM MICHAEL A sold 19,875 shares. The insider’s holdings dropped to 157,353 shares worth approximately $13.24 million following the completion of this transaction.
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Also, BOBO DONALD E JR sold 6,725 shares, netting a total of over 611,572 in proceeds. Following the sale of shares at $90.94 each, the insider now holds 62,561 shares.
Before that, Wood Larry L had sold 7,242 shares from its account. In a trade valued at $644,538, the CVP, TAVR traded Edwards Lifesciences Corporation shares for $89.00 each. Upon closing the transaction, the insider’s holdings decreased to 7,242 shares, worth approximately $17.02 million.
As published in a research note from Canaccord Genuity on July 29, 2022, Edwards Lifesciences Corporation [EW] has been rated down from a Buy to a Hold and the price target has been revised to $106 from $115. This represents a 20.59% premium over Thursday’s closing price. Analysts at Truist started covering the stock with ‘”a Buy”‘ outlook in a report released in mid April. As of April 06, 2022, Wolfe Research has initiated its “an Outperform” rating for EW. Earlier on March 16, 2022, Bernstein upgraded its rating. Their new recommendation was “an Outperform” for EW stock which previously was a “a Mkt perform”.
Analyzing EW’s Price Performance
On Thursday, Edwards Lifesciences Corporation [NYSE: EW] plunged -1.23% to $84.17. The stock’s lowest price that day was $83.42, but it reached a high of $85.38 in the same session. During the last five days, there has been a drop of approximately -11.29%. Over the course of the year, Edwards Lifesciences Corporation shares have dropped approximately -35.03%. Shares of the company reached a 52-week high of $131.10 on 04/21/22 and a 52-week low of $83.42 on 09/22/22. A 50-day SMA is recorded $97.55, while a 200-day SMA reached $106.29. Nevertheless, trading volume fell to 2.74 million shares from 2.17 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 83.27, which, if violated, would cause prices to drop to 82.36. In the upper region, resistance lies at 85.23. The next price resistance is at 86.28. RSI (Relative Strength Index) is 29.61 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -6.04, which suggests the price will decrease in the coming days. Percent R is at 94.98%, indicating bearish price movement. Stochastics %K at buying 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 Jul 14, 2022 jumping by 0.79 million shares to 6.66 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 5.87 million shares. A jump of 11.86% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 2.65 of the overall float, the days-to-cover ratio (short ratio) jumped to 2.65.
Which companies own the most shares of Edwards Lifesciences Corporation (EW)?
According to The Vanguard Group, Inc. filings, the company currently owns 47,744,472 shares, which is about 7.70% of the total EW shares outstanding. The investor’s shares have appreciated by 541,265 from its previous 13-F filing of 47203207.0 shares. With the completion of the sale transaction, BlackRock Fund Advisors’s stake is now worth $2,881,632,711. SSgA Funds Management, Inc. reduced a -0.09% interest valued at $2.42 billion while Capital Research & Management Co purchased a 253,759 stake. A total of 2,283,544 shares of Edwards Lifesciences Corporation were bought by AllianceBernstein LP during the quarter, and -625,108 were sold by Walter Scott & Partners Ltd.. In its current portfolio, Wellington Management Co. LLP holds 14,178,936 shares valued at $1.28 billion.