Edwards Lifesciences Corp (NYSE:EW) has reported that Michael A. Mussallem, the company’s Chairman and CEO, has sold a total of $2,712,418 worth of common stock, according to a recent SEC filing. The transactions took place on April 4, 2024, and were executed in multiple trades within the price range of $91.54 to $94.19.
Mussallem's sale included 200 shares at an average price of $94.19, 2,712 shares at an average of $93.72, 9,820 shares at an average of $91.54, and 16,618 shares at an average of $92.70. These sales were carried out under a Rule 10b5-1 trading plan, which allows company insiders to set up a predetermined schedule for buying or selling stocks at a time when they are not in possession of material non-public information.
On the same day, Mussallem also acquired 29,350 shares of common stock at a price of $36.75 per share, amounting to a total of $1,078,612. This transaction was related to the exercise of employee stock options that were set to expire on May 10, 2024.
The SEC filing indicated that after the reported transactions, Mussallem held 4,485.820 shares directly and an additional 4,038,377 shares indirectly through a living trust. The filing did not identify other securities of Edwards Lifesciences beneficially owned by Mussallem.
Investors often monitor insider buying and selling as it can provide insights into a company's financial health and the confidence that executives have in the company's future prospects. However, these transactions can be subject to various factors, including personal financial management, and do not always necessarily indicate the future performance of the company's stock.
Edwards Lifesciences specializes in orthopedic, prosthetic, and surgical appliances and supplies, and is known for its innovative heart valve technologies and critical care and surgical monitoring products. The company is headquartered in Irvine, California, and is incorporated in Delaware.
InvestingPro Insights
Amidst the recent insider trading activity at Edwards Lifesciences Corp (NYSE:EW), the company's financial health and market performance offer valuable context for investors. According to InvestingPro data, Edwards Lifesciences boasts a robust Market Cap of $54.91 billion and has shown a solid Revenue Growth over the last twelve months as of Q4 2023, at 11.56%. The company's Gross Profit Margin stands at an impressive 77.02%, highlighting its ability to maintain profitability.
Looking at the company's stock performance, Edwards Lifesciences has experienced a notable 3 Month Price Total Return of 26.52% as of the latest data point, reflecting strong recent market confidence. This aligns with one of the InvestingPro Tips, which mentions that the company has seen a strong return over the last three months. Additionally, the company is trading near its 52-week high, at 96.77% of the peak price, suggesting investor optimism about its value and growth prospects.
For investors seeking more comprehensive analysis and insights, there are additional InvestingPro Tips available for Edwards Lifesciences, including details on management's share buyback strategy and the company's trading multiples. Interested readers can unlock these insights and more by visiting InvestingPro and using the coupon code PRONEWS24 to receive an extra 10% off a yearly or biyearly Pro and Pro+ subscription.
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