Stifel Nicolaus Boosts Edwards Lifesciences (NYSE:EW) Price Target to $85.00

Edwards Lifesciences (NYSE:EW) had its price target upped by equities research analysts at Stifel Nicolaus from $83.00 to $85.00 in a research note issued on Friday, Benzinga reports. The firm currently has a “hold” rating on the medical research company’s stock. Stifel Nicolaus’ price target would suggest a potential downside of 2.11% from the company’s current price.

EW has been the topic of several other reports. Mizuho boosted their target price on shares of Edwards Lifesciences from $95.00 to $105.00 and gave the company a “buy” rating in a report on Thursday, April 11th. Bank of America upgraded shares of Edwards Lifesciences from a “neutral” rating to a “buy” rating in a report on Thursday, March 7th. Oppenheimer boosted their target price on shares of Edwards Lifesciences from $93.00 to $100.00 and gave the company an “outperform” rating in a report on Monday, March 18th. OTR Global upgraded shares of Edwards Lifesciences from a “mixed” rating to a “positive” rating in a report on Tuesday, March 26th. Finally, Piper Sandler upped their price objective on shares of Edwards Lifesciences from $85.00 to $88.00 and gave the stock a “neutral” rating in a report on Friday. One research analyst has rated the stock with a sell rating, seven have given a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, Edwards Lifesciences currently has a consensus rating of “Moderate Buy” and a consensus target price of $93.20.

Edwards Lifesciences Price Performance

Shares of Edwards Lifesciences stock traded down $1.18 during trading hours on Friday, reaching $86.83. The stock had a trading volume of 2,525,424 shares, compared to its average volume of 3,812,634. The stock’s 50 day moving average is $90.27 and its 200 day moving average is $78.76. The firm has a market capitalization of $52.27 billion, a PE ratio of 37.71, a PEG ratio of 4.39 and a beta of 1.05. Edwards Lifesciences has a twelve month low of $60.57 and a twelve month high of $96.12. The company has a current ratio of 3.38, a quick ratio of 2.40 and a debt-to-equity ratio of 0.09.

Edwards Lifesciences (NYSE:EW) last issued its quarterly earnings data on Thursday, April 25th. The medical research company reported $0.66 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.02. The business had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.58 billion. Edwards Lifesciences had a net margin of 23.35% and a return on equity of 23.56%. Equities analysts expect that Edwards Lifesciences will post 2.76 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Michael A. Mussallem sold 29,350 shares of Edwards Lifesciences stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $86.67, for a total value of $2,543,764.50. Following the transaction, the director now owns 4,486 shares of the company’s stock, valued at $388,801.62. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, VP Catherine M. Szyman sold 27,000 shares of Edwards Lifesciences stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $85.62, for a total value of $2,311,740.00. Following the completion of the transaction, the vice president now directly owns 34,814 shares of the company’s stock, valued at $2,980,774.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Michael A. Mussallem sold 29,350 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $86.67, for a total value of $2,543,764.50. Following the sale, the director now directly owns 4,486 shares of the company’s stock, valued at $388,801.62. The disclosure for this sale can be found here. Insiders have sold a total of 194,004 shares of company stock valued at $17,166,254 in the last quarter. Company insiders own 1.29% of the company’s stock.

Hedge Funds Weigh In On Edwards Lifesciences

Large investors have recently bought and sold shares of the company. Nordea Investment Management AB raised its stake in shares of Edwards Lifesciences by 1,224.1% during the 4th quarter. Nordea Investment Management AB now owns 1,610,412 shares of the medical research company’s stock worth $123,261,000 after purchasing an additional 1,488,791 shares in the last quarter. Telos Capital Management Inc. raised its stake in Edwards Lifesciences by 158.2% in the 4th quarter. Telos Capital Management Inc. now owns 91,405 shares of the medical research company’s stock valued at $6,970,000 after acquiring an additional 56,000 shares during the period. Arlington Trust Co LLC raised its stake in Edwards Lifesciences by 5,092.4% in the 4th quarter. Arlington Trust Co LLC now owns 12,306 shares of the medical research company’s stock valued at $938,000 after acquiring an additional 12,069 shares during the period. Versor Investments LP raised its stake in Edwards Lifesciences by 83.3% in the 3rd quarter. Versor Investments LP now owns 4,496 shares of the medical research company’s stock valued at $311,000 after acquiring an additional 2,043 shares during the period. Finally, HealthInvest Partners AB bought a new stake in Edwards Lifesciences in the 4th quarter valued at $1,587,000. Institutional investors and hedge funds own 79.46% of the company’s stock.

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.