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In recent transactions reported to the Securities and Exchange Commission, Bernard J. Zovighian, CEO of Edwards Lifesciences Corp (NYSE:EW), a $40 billion medical devices company currently trading near its Fair Value according to InvestingPro analysis, sold a significant portion of the company’s stock. On March 10, Zovighian sold 6,164 shares of common stock at an average price of $69.51 per share, amounting to a total sale of approximately $428,447. These transactions were executed as part of a pre-arranged trading plan under Rule 10b5-1, adopted by Zovighian in December 2024. The company maintains strong financial health with an impressive current ratio of 4.18 and minimal debt-to-equity of 0.07.
Additionally, Zovighian acquired 7,463 shares of common stock through the exercise of stock options at a price of $45.28 per share, totaling $337,900. This acquisition was also part of the company’s Long-Term Stock Incentive Compensation Program, with the options originally granted in May 2018.
Following these transactions, Zovighian’s direct ownership stands at 59,082.9 shares, with additional shares held indirectly through a trust and the company’s 401(k) plan.
In other recent news, Edwards Lifesciences has reported strong financial results for the fourth quarter of 2024, exceeding analysts’ expectations with an adjusted earnings per share (EPS) of $0.59, surpassing the forecast of $0.55. The company’s revenue reached $1.39 billion, outpacing the anticipated $1.36 billion, marking a 9% year-over-year increase. The Transcatheter Aortic Valve Replacement (TAVR) segment generated $1.04 billion in global sales, reflecting a 5.3% rise from the previous year, while the Transcatheter Mitral and Tricuspid Therapies (TMTT) division saw an impressive 85% year-over-year sales growth. Canaccord Genuity has responded to these results by raising the price target for Edwards Lifesciences to $71, maintaining a Hold rating, while Stifel analysts have reiterated a Buy rating with a $90 price target, citing confidence in the company’s growth trajectory. The company has reiterated its financial guidance for 2025, projecting total sales between $5.6 billion and $6.0 billion, with expected growth in both TAVR and TMTT segments. Edwards Lifesciences’ management has indicated that despite a projected TAVR growth below 5% in the first quarter of 2025, the overall outlook for the year remains unchanged. These developments underscore the company’s focus on expanding its global presence and maintaining a strong research and development investment.
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