An executive at Edwards Lifesciences (NASDAQ: EW) sold approximately $2.89 million in company shares on Aug. 26, according to regulatory filings.
Daveen Chopra, corporate vice president of Transcatheter Mitral and Tricuspid Therapies, Surgical, and IHFM, disposed of 31,800 common shares. The transactions occurred at prices ranging from $90.645 to $91.975 per share, with a weighted average of $90.9922 for 30,646 shares and $91.7614 for 1,154 shares.
Chopra acquired the shares through employee stock option exercises prior to the sale, paying an exercise price of $72.68 per share. The total cost of acquisition was $2.31 million. Following the transactions, Chopra holds 44,324 common shares of Edwards Lifesciences directly.
The sales follow Edwards Lifesciences' strong second-quarter results, which exceeded Wall Street expectations. The company reported adjusted earnings per share of $0.78, above the $0.74 consensus estimate, and revenue of $1.74 billion, surpassing the $1.70 billion projection. Edwards also raised its full-year revenue guidance and reported a 10.5% year-over-year increase in transcatheter aortic valve replacement revenue, excluding foreign exchange impacts.
Analysts have maintained positive outlooks on the stock. UBS initiated coverage with a buy rating, while Bernstein SocGen Group raised its price target to $99 with a market-perform rating. Piper Sandler increased its target to $101 with an overweight rating, and Leerink upgraded the stock to overweight based on solid Q2 results.
