Wells Fargo & Company Raises Edwards Lifesciences (NYSE:EW) Price Target to $99.00

Edwards Lifesciences (NYSE:EW) had its price target raised by equities research analysts at Wells Fargo & Company from $94.00 to $99.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm currently has an “overweight” rating on the medical research company’s stock. Wells Fargo & Company‘s price objective indicates a potential upside of 14.86% from the stock’s previous close.

EW has been the subject of several other reports. Morgan Stanley boosted their price target on Edwards Lifesciences from $95.00 to $103.00 and gave the company an “overweight” rating in a research note on Thursday, March 21st. Piper Sandler boosted their price target on Edwards Lifesciences from $85.00 to $88.00 and gave the company a “neutral” rating in a research note on Friday. Citigroup boosted their price objective on shares of Edwards Lifesciences from $90.00 to $98.00 and gave the company a “neutral” rating in a research report on Wednesday, April 3rd. Mizuho boosted their price objective on shares of Edwards Lifesciences from $95.00 to $105.00 and gave the company a “buy” rating in a research report on Thursday, April 11th. Finally, OTR Global upgraded shares of Edwards Lifesciences from a “mixed” rating to a “positive” rating in a research report on Tuesday, March 26th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $93.33.

Edwards Lifesciences Stock Performance

Shares of NYSE:EW traded down $1.82 during trading on Friday, reaching $86.19. 3,059,394 shares of the stock were exchanged, compared to its average volume of 3,819,583. The company has a current ratio of 3.38, a quick ratio of 2.40 and a debt-to-equity ratio of 0.09. The firm has a market cap of $51.88 billion, a PE ratio of 37.61, a PEG ratio of 4.39 and a beta of 1.05. The stock has a 50-day moving average price of $90.27 and a 200-day moving average price of $78.76. Edwards Lifesciences has a 12 month low of $60.57 and a 12 month high of $96.12.

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

Insider Buying and Selling at Edwards Lifesciences

In other Edwards Lifesciences news, VP Jean-Luc M. Lemercier sold 14,400 shares of Edwards Lifesciences stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $92.32, for a total transaction of $1,329,408.00. Following the completion of the transaction, the vice president now owns 173,849 shares in the company, valued at approximately $16,049,739.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Edwards Lifesciences news, VP Jean-Luc M. Lemercier sold 14,400 shares of Edwards Lifesciences stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $92.32, for a total transaction of $1,329,408.00. Following the transaction, the vice president now owns 173,849 shares of the company’s stock, valued at approximately $16,049,739.68. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Michael A. Mussallem sold 29,350 shares of Edwards Lifesciences stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $92.42, for a total transaction of $2,712,527.00. Following the completion of the sale, the director now directly owns 4,486 shares in the company, valued at approximately $414,596.12. The disclosure for this sale can be found here. In the last quarter, insiders sold 194,004 shares of company stock worth $17,166,254. Insiders own 1.29% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. DSM Capital Partners LLC purchased a new position in shares of Edwards Lifesciences during the 4th quarter valued at $28,000. Turtle Creek Wealth Advisors LLC purchased a new position in shares of Edwards Lifesciences during the 4th quarter valued at $34,000. Riverview Trust Co purchased a new position in shares of Edwards Lifesciences during the 1st quarter valued at $34,000. Pingora Partners LLC purchased a new position in shares of Edwards Lifesciences during the 4th quarter valued at $38,000. Finally, Operose Advisors LLC grew its position in shares of Edwards Lifesciences by 247.0% during the 3rd quarter. Operose Advisors LLC now owns 635 shares of the medical research company’s stock valued at $44,000 after purchasing an additional 452 shares in the last quarter. 79.46% of the stock is currently owned by hedge funds and other institutional investors.

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.