Larry L. Wood, Global President of Transcatheter Aortic Valve Replacement (TAVR) & Surgical at Edwards Lifesciences Corp (NYSE:EW), sold 25,000 shares of the company’s common stock on November 5. The shares were sold at an average price of $65.9145, amounting to a total transaction value of approximately $1.65 million. Following the sale, Wood retains direct ownership of 198,525 shares. The transaction was executed under a pre-established Rule 10b5-1 trading plan.
In other recent news, Edwards Lifesciences Corp has reported a 10% increase in third-quarter sales, reaching $1.35 billion, primarily driven by their Transcatheter Aortic Valve Replacement (TAVR) and Transcatheter Mitral and Tricuspid Therapies (TMTT) sales. The EVOQUE transcatheter tricuspid valve replacement system, part of the TMTT portfolio, showed promising results in the TRISCEND II trial, demonstrating superiority over medical therapy alone in treating severe tricuspid regurgitation. In addition, Tandem Diabetes Care (NASDAQ:TNDM), Inc. was removed from Citi's 90-Day Downside Catalyst Watch List following a significant drop in stock price and concerns over third-quarter U.S. revenue guidance.
Analyst firms have been actively monitoring these companies. Goldman Sachs (NYSE:GS) has maintained a Buy rating on Edwards Lifesciences with a price target of $80, focusing on the anticipated outcomes from the TRISCEND II trial. TD (TSX:TD) Cowen held a steady price target of $70, emphasizing the potential for label expansion of Evoque following the trial results. Bernstein upgraded Edwards Lifesciences from Underperform to Market Perform, acknowledging a shift in the TAVR market dynamics. BofA Securities also maintained its Neutral rating and a price target of $75 on the company's shares.
These recent developments indicate a dynamic period for both Edwards Lifesciences and Tandem Diabetes Care, as they navigate market shifts and new product potentials.
InvestingPro Insights
While Larry L. Wood's recent stock sale might raise eyebrows, it's crucial to consider Edwards Lifesciences' broader financial picture. According to InvestingPro data, the company boasts a market capitalization of $40.04 billion and has demonstrated strong profitability with a gross profit margin of 76.6% over the last twelve months as of Q3 2024. This robust margin suggests the company maintains significant pricing power in its medical device niche.
An InvestingPro Tip indicates that Edwards Lifesciences operates with a moderate level of debt, which is particularly important in the capital-intensive medical technology sector. This conservative financial approach may provide the company with flexibility for future investments or to weather potential market downturns.
Another relevant InvestingPro Tip highlights that the stock generally trades with low price volatility. This characteristic could be appealing to investors seeking stability in their portfolio, especially given the recent insider sale.
For readers interested in a deeper dive into Edwards Lifesciences' financial health and market position, InvestingPro offers 9 additional tips that could provide valuable insights for investment decisions.
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