Brokerages Set Edwards Lifesciences Co. (NYSE:EW) Price Target at $95.06

Edwards Lifesciences Co. (NYSE:EW) has been given an average rating of “Moderate Buy” by the twenty brokerages that are currently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have given a buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $95.06.

A number of equities research analysts recently issued reports on the stock. Piper Sandler boosted their target price on shares of Edwards Lifesciences from $85.00 to $88.00 and gave the company a “neutral” rating in a report on Friday, April 26th. OTR Global upgraded shares of Edwards Lifesciences from a “mixed” rating to a “positive” rating in a report on Tuesday, March 26th. StockNews.com upgraded shares of Edwards Lifesciences from a “hold” rating to a “buy” rating in a report on Thursday. The Goldman Sachs Group started coverage on shares of Edwards Lifesciences in a report on Thursday, May 30th. They issued a “buy” rating and a $107.00 target price for the company. Finally, Evercore ISI reduced their price target on shares of Edwards Lifesciences from $92.00 to $89.00 and set an “in-line” rating on the stock in a research report on Friday, April 26th.

Edwards Lifesciences Stock Performance

Shares of NYSE EW opened at $93.34 on Friday. The company has a market cap of $56.25 billion, a PE ratio of 40.23, a price-to-earnings-growth ratio of 3.33 and a beta of 1.11. Edwards Lifesciences has a 12 month low of $60.57 and a 12 month high of $96.12. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.75 and a quick ratio of 2.67. The company has a 50-day simple moving average of $87.58 and a 200-day simple moving average of $85.00.

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, 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 23.01% and a return on equity of 22.86%. On average, equities analysts anticipate that Edwards Lifesciences will post 2.77 earnings per share for the current year.

Insider Transactions at Edwards Lifesciences

In other news, CFO Scott B. Ullem sold 7,255 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $94.89, for a total transaction of $688,426.95. Following the transaction, the chief financial officer now directly owns 19,074 shares of the company’s stock, valued at $1,809,931.86. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Edwards Lifesciences news, VP Donald E. Bobo, Jr. sold 5,000 shares of the stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $87.54, for a total transaction of $437,700.00. Following the transaction, the vice president now directly owns 46,936 shares in the company, valued at approximately $4,108,777.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Scott B. Ullem sold 7,255 shares of the stock in a transaction on Monday, April 1st. The shares were sold at an average price of $94.89, for a total transaction of $688,426.95. Following the transaction, the chief financial officer now owns 19,074 shares in the company, valued at $1,809,931.86. The disclosure for this sale can be found here. Over the last three months, insiders have sold 127,104 shares of company stock valued at $11,267,464. Corporate insiders own 1.29% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in EW. Vanguard Group Inc. raised its holdings in shares of Edwards Lifesciences by 1.1% during the first quarter. Vanguard Group Inc. now owns 52,964,394 shares of the medical research company’s stock worth $5,061,277,000 after purchasing an additional 600,994 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of Edwards Lifesciences by 9.5% during the first quarter. Bank of New York Mellon Corp now owns 18,973,304 shares of the medical research company’s stock worth $1,813,089,000 after purchasing an additional 1,644,869 shares during the period. Brown Advisory Inc. raised its holdings in shares of Edwards Lifesciences by 20.1% during the fourth 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 during the period. Wellington Management Group LLP raised its holdings in shares of Edwards Lifesciences by 2.4% during 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 stake in shares of Edwards Lifesciences during the fourth quarter worth $648,540,000. 79.46% of the stock is currently owned by 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.