Edwards Lifesciences (NYSE:EW) Price Target Cut to $89.00

Edwards Lifesciences (NYSE:EW) had its price target lowered by Evercore ISI from $92.00 to $89.00 in a research report released on Friday, Benzinga reports. The brokerage currently has an in-line rating on the medical research company’s stock.

Several other brokerages have also recently weighed in on EW. OTR Global raised shares of Edwards Lifesciences from a mixed rating to a positive rating in a research note on Tuesday, March 26th. Piper Sandler boosted their price target on shares of Edwards Lifesciences from $85.00 to $88.00 and gave the stock a neutral rating in a research report on Friday. Morgan Stanley increased their price objective on shares of Edwards Lifesciences from $95.00 to $103.00 and gave the stock an overweight rating in a research note on Thursday, March 21st. StockNews.com downgraded Edwards Lifesciences from a buy rating to a hold rating in a research report on Wednesday, March 20th. Finally, Oppenheimer increased their price target on Edwards Lifesciences from $93.00 to $100.00 and gave the company an outperform rating in a research report on Monday, March 18th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average target price of $92.71.

Edwards Lifesciences Trading Down 0.6 %

EW opened at $85.95 on Friday. The firm’s fifty day simple moving average is $90.27 and its 200 day simple moving average is $79.06. The stock has a market capitalization of $51.74 billion, a P/E ratio of 37.05, a P/E/G ratio of 4.28 and a beta of 1.05. The company has a current ratio of 3.75, a quick ratio of 2.67 and a debt-to-equity ratio of 0.08. 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 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.02. The company had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.58 billion. Edwards Lifesciences had a return on equity of 22.86% and a net margin of 23.01%. As a group, research analysts anticipate that Edwards Lifesciences will post 2.76 EPS for the current fiscal year.

Insider Activity

In other Edwards Lifesciences news, CFO Scott B. Ullem sold 7,255 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $78.29, for a total transaction of $567,993.95. Following the completion of the sale, the chief financial officer now directly owns 19,248 shares in the company, valued at $1,506,925.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Edwards Lifesciences news, CFO Scott B. Ullem sold 7,255 shares of the stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $78.29, for a total transaction of $567,993.95. Following the transaction, the chief financial officer now owns 19,248 shares in the company, valued at approximately $1,506,925.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Daniel J. Lippis sold 1,715 shares of the business’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $90.98, for a total transaction of $156,030.70. Following the completion of the sale, the vice president now directly owns 17,213 shares of the company’s stock, valued at approximately $1,566,038.74. The disclosure for this sale can be found here. Insiders have sold 194,004 shares of company stock valued at $17,166,254 over the last ninety days. 1.27% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Edwards Lifesciences

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its position in Edwards Lifesciences by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 52,363,400 shares of the medical research company’s stock worth $3,992,709,000 after buying an additional 729,984 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Edwards Lifesciences by 9.5% during the 1st quarter. Bank of New York Mellon Corp now owns 18,973,304 shares of the medical research company’s stock valued at $1,813,089,000 after acquiring an additional 1,644,869 shares during the period. Brown Advisory Inc. grew its holdings in shares of Edwards Lifesciences by 20.1% during the 4th quarter. Brown Advisory Inc. now owns 18,181,420 shares of the medical research company’s stock worth $1,386,333,000 after purchasing an additional 3,048,274 shares in the last quarter. Wellington Management Group LLP increased its position in shares of Edwards Lifesciences by 2.4% in the fourth quarter. Wellington Management Group LLP now owns 16,827,510 shares of the medical research company’s stock worth $1,283,098,000 after purchasing an additional 393,109 shares during the period. Finally, Norges Bank acquired a new position in Edwards Lifesciences in the fourth quarter valued at about $648,540,000. 79.46% of the stock is currently owned by institutional investors and hedge funds.

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.