Analysts Set Edwards Lifesciences Co. (NYSE:EW) PT at $78.65

Shares of Edwards Lifesciences Co. (NYSE:EW) have received an average rating of “Hold” from the twenty-six analysts that are covering the company, MarketBeat reports. Fifteen research analysts have rated the stock with a hold recommendation and eleven have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $79.40.

EW has been the subject of several recent research reports. Evercore ISI decreased their price objective on Edwards Lifesciences from $76.00 to $70.00 and set an “in-line” rating for the company in a report on Tuesday, October 1st. Truist Financial reissued a “hold” rating and issued a $78.00 price target (up previously from $70.00) on shares of Edwards Lifesciences in a research report on Thursday, December 5th. Wells Fargo & Company cut their price objective on shares of Edwards Lifesciences from $90.00 to $80.00 and set an “overweight” rating for the company in a report on Monday, September 9th. Royal Bank of Canada boosted their target price on shares of Edwards Lifesciences from $80.00 to $85.00 and gave the company an “outperform” rating in a report on Thursday, December 5th. Finally, Sanford C. Bernstein upgraded Edwards Lifesciences from a “strong sell” rating to a “hold” rating in a research report on Monday, October 28th.

Insider Activity at Edwards Lifesciences

In related news, VP Donald E. Bobo, Jr. sold 5,000 shares of Edwards Lifesciences stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $69.51, for a total value of $347,550.00. Following the transaction, the vice president now owns 46,936 shares in the company, valued at $3,262,521.36. This trade represents a 9.63 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Daniel J. Lippis sold 2,500 shares of the business’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $74.08, for a total transaction of $185,200.00. Following the completion of the sale, the vice president now directly owns 23,189 shares of the company’s stock, valued at $1,717,841.12. This represents a 9.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 37,500 shares of company stock valued at $2,508,350 over the last 90 days. 1.29% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of EW. Wellington Management Group LLP increased its stake in shares of Edwards Lifesciences by 86.3% in the third quarter. Wellington Management Group LLP now owns 31,532,725 shares of the medical research company’s stock worth $2,080,845,000 after buying an additional 14,610,123 shares during the period. State Street Corp increased its position in shares of Edwards Lifesciences by 1.0% in the third quarter. State Street Corp now owns 26,265,633 shares of the medical research company’s stock valued at $1,733,270,000 after acquiring an additional 256,538 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Edwards Lifesciences by 4.3% during the second quarter. Bank of New York Mellon Corp now owns 19,782,909 shares of the medical research company’s stock valued at $1,827,347,000 after acquiring an additional 809,605 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Edwards Lifesciences by 2.2% during the third quarter. Geode Capital Management LLC now owns 13,521,147 shares of the medical research company’s stock worth $889,050,000 after purchasing an additional 284,918 shares during the period. Finally, Fisher Asset Management LLC grew its stake in shares of Edwards Lifesciences by 9.8% in the third quarter. Fisher Asset Management LLC now owns 9,078,311 shares of the medical research company’s stock worth $599,078,000 after purchasing an additional 806,705 shares during the last quarter. Hedge funds and other institutional investors own 79.46% of the company’s stock.

Edwards Lifesciences Stock Performance

NYSE EW opened at $73.93 on Friday. The company has a market capitalization of $43.60 billion, a PE ratio of 10.67, a price-to-earnings-growth ratio of 3.63 and a beta of 1.12. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.89 and a current ratio of 3.46. Edwards Lifesciences has a 52-week low of $58.93 and a 52-week high of $96.12. The company has a 50-day simple moving average of $69.93 and a 200 day simple moving average of $73.71.

Edwards Lifesciences (NYSE:EW) last posted its quarterly earnings results on Thursday, October 24th. The medical research company reported $0.67 EPS for the quarter, hitting analysts’ consensus estimates of $0.67. Edwards Lifesciences had a net margin of 70.82% and a return on equity of 20.76%. The company had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.57 billion. During the same quarter in the previous year, the firm posted $0.59 EPS. Edwards Lifesciences’s revenue was up 8.9% on a year-over-year basis. On average, research analysts predict that Edwards Lifesciences will post 2.56 EPS for the current year.

About Edwards Lifesciences

Edwards Lifesciences Corporation provides products and technologies for structural heart disease and critical care monitoring in the United States, Europe, Japan, and internationally. It offers transcatheter heart valve replacement products for the minimally invasive replacement of aortic heart valves under the Edwards SAPIEN family of valves system; and transcatheter heart valve repair and replacement products to treat mitral and tricuspid valve diseases under the PASCAL PRECISION and Cardioband names.