Intensifying Insider Selling Activity at Eli Lilly and Co (LLY), Exxon Mobil Corporation (XOM) and Edwards Lifesciences Corp (EW)

Insider buying at Edwards Lifesciences Corp (NYSE:EW) has been nonexistent since mid-2013, but the insider selling activity has been gaining steam lately. Director Wesley W. von Schack sold 8,106 shares on Thursday at prices varying from $83.18 to $83.33 per share, all of which were held through the von Schack Revocable Trust. After the recent sale, the trust fund holds ownership of 40,130 shares. The Director also holds a direct ownership stake of 3,652 shares. Furthermore, Director Barbara J. McNeil unloaded a 4,000-share block on the same day, which was held by the Barbara J. McNeil Trust U/A DTD. The Director owns a direct ownership stake of 54,672 shares, while the trust fund currently owns 46,454 shares. The recent insider selling comes after the release of the company’s fourth-quarter earnings report.

The leader in the science of heart valves and hemodynamic monitoring reported net sales of $2.5 billion for 2015, up by 7.4% year-over-year. Its non-GAAP earnings per share increased by 30.9% year-over-year to $2.29. After the release of the latest earnings report, several financial hubs updated their ratings and target prices on the stock. For instance, BMO Capital Markets reiterated its ‘Outperform’ rating on Edwards Lifesciences and lifted its price target to $93 from $91. Let’s not forget to mention that the stock has gained 18% over the past 12-month period, so the aforementioned insiders might have sold shares as a precautionary move in light of the increased worries of a slowing global and U.S economies. David Harding’s Winton Capital Management cut its stake in Edwards Lifesciences Corp (NYSE:EW) by almost 697,000 shares during the October-to-December period, ending the quarter with 856,404 shares.

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