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Edwards Lifesciences Corp (NYSE:EW), a $41 billion medical technology company currently trading near its InvestingPro Fair Value, saw a notable transaction involving its Corporate Vice President of Strategy and Corporate Development, Donald E. Bobo Jr., according to a recent SEC filing. On April 14, Bobo sold 9,500 shares of common stock at a weighted average price of $69.81, totaling approximately $663,195. This sale was part of a pre-arranged trading plan adopted on December 14, 2023. The transaction occurs as Edwards maintains strong financial health, with InvestingPro analysis showing the stock typically trades with low volatility and the company operates with a moderate debt level.
Prior to the sale, Bobo exercised an option to acquire 9,500 shares at a price of $45.28 per share, resulting in a transaction total of $430,128. Following these transactions, Bobo holds 47,206 shares directly and additional shares indirectly through a 401(k) plan and a trust. With a robust gross profit margin of 79% and eight additional key insights available on InvestingPro, investors can access comprehensive analysis through the platform’s exclusive Pro Research Report.
In other recent news, Edwards Lifesciences reported strong financial results for the fourth quarter of 2024, surpassing both earnings and revenue estimates. The company achieved a revenue of $1.39 billion, which marks a 9.4% increase year-over-year, and an adjusted earnings per share of $0.59, exceeding the forecast of $0.55. Notably, the Transcatheter Aortic Valve Replacement (TAVR) segment generated $1.04 billion, and the Transcatheter Mitral and Tricuspid Therapies (TMTT) division reported $105.1 million in revenue, reflecting significant growth. Following these results, Canaccord Genuity raised its price target for Edwards Lifesciences to $71, maintaining a Hold rating, while Stifel reiterated a Buy rating with a $90 target, expressing confidence in the company’s growth trajectory.
The positive outlook is further supported by the anticipated growth in tricuspid procedures, driven by the adoption of the EVOQUE system, an innovative product approved by the FDA in February 2024. Stifel analysts highlighted optimism among cardiologists regarding the EVOQUE system’s market potential, influenced by expected improvements in reimbursement policies and positive clinical data. Edwards Lifesciences continues to focus on expanding its market presence and maintaining robust R&D investments, with projected total company sales between $5.6 billion and $6.0 billion for 2025. Analysts from Canaccord remain cautious, citing potential mid-single-digit growth rates in the TAVR segment, but acknowledge the strong potential of the TMTT division.
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