Edwards Lifesciences Corp (NYSE:EW), a medical device company with a market capitalization of $41.9 billion and strong financial health according to InvestingPro analysis, saw its Chief Financial Officer Scott B. Ullem recently execute a series of stock transactions, according to a filing with the Securities and Exchange Commission. On December 9, Ullem sold 11,250 shares of Edwards Lifesciences common stock at an average price of $71.6805 per share, totaling approximately $806,405. This sale was part of a pre-established trading plan under Rule 10b5-1, which was adopted on August 19, 2024.
Additionally, Ullem acquired 11,250 shares through the exercise of stock options at a price of $45.2767 per share, bringing the transaction's total value to approximately $509,362. Following these transactions, Ullem holds 30,561 shares directly and an additional 266,318 shares indirectly through a trust.
These transactions are part of routine financial management strategies employed by executives and are often planned in advance to comply with insider trading regulations.
In other recent news, Edwards Lifesciences has been the center of analysts' attention due to its promising multiyear outlook. TD Cowen maintained a Hold rating on the company's stock, raising the price target to $75 from $70. This followed Edwards Lifesciences' annual investor day, where the company presented a favorable multiyear outlook. The company also reiterated its 2024 guidance and introduced its 2025 projections, which are in line with market estimates.
RBC Capital Markets maintained an Outperform rating on shares of Edwards Lifesciences, while increasing the stock's price target to $85 from $80. This adjustment was based on the company's 2025 outlook and long-range plan, which predicted an 8-10% revenue growth excluding foreign exchange impacts. Bernstein SocGen Group maintained its Market Perform rating on Edwards Lifesciences with a steady price target of $72.00, noting the company's balanced guidance.
Meanwhile, Truist Securities updated its stance on shares of Edwards Lifesciences, increasing the price target to $78 from $70, while keeping a Hold rating on the stock. This adjustment followed the company's Investor Day, which provided insights into its financial guidance for the coming years and highlighted strategies for revenue and earnings growth. Similarly, Canaccord Genuity maintained a Hold rating on Edwards Lifesciences and increased the price target to $68 from $63, following the company's annual investor conference. These developments shed light on Edwards Lifesciences' future growth plans and potential impact on investors.
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