Edwards Lifesciences (NYSE:EW) PT Raised to $106.00

Edwards Lifesciences (NYSE:EW) had its price target upped by Citigroup from $105.00 to $106.00 in a report released on Wednesday, Benzinga reports. They currently have a buy rating on the medical research company’s stock.

EW has been the subject of several other reports. Royal Bank of Canada raised their price target on Edwards Lifesciences from $95.00 to $101.00 and gave the stock an outperform rating in a research report on Monday, April 15th. Stifel Nicolaus raised their price target on Edwards Lifesciences from $83.00 to $85.00 and gave the stock a hold rating in a research report on Friday, April 26th. Morgan Stanley raised their price target on Edwards Lifesciences from $95.00 to $103.00 and gave the stock an overweight rating in a research report on Thursday, March 21st. Evercore ISI raised their price target on Edwards Lifesciences from $89.00 to $91.00 and gave the stock an in-line rating in a research report on Tuesday, July 2nd. Finally, The Goldman Sachs Group initiated coverage on Edwards Lifesciences in a research report on Thursday, May 30th. They set a buy rating and a $107.00 price target for the company. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus target price of $95.24.

Edwards Lifesciences Price Performance

EW stock opened at $90.99 on Wednesday. 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 business has a 50 day simple moving average of $88.97 and a 200-day simple moving average of $86.36. The firm has a market capitalization of $54.83 billion, a PE ratio of 39.22, a price-to-earnings-growth ratio of 3.43 and a beta of 1.11. Edwards Lifesciences has a 1 year low of $60.57 and a 1 year high of $96.12.

Edwards Lifesciences (NYSE:EW) last posted its quarterly earnings results on Thursday, April 25th. The medical research company reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.02. Edwards Lifesciences had a return on equity of 22.86% and a net margin of 23.01%. The business had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.58 billion. Equities research analysts anticipate that Edwards Lifesciences will post 2.77 earnings per share for the current fiscal year.

Insider Transactions at Edwards Lifesciences

In other news, VP Donald E. Bobo, Jr. sold 5,000 shares of Edwards Lifesciences stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $93.29, for a total transaction of $466,450.00. Following the sale, the vice president now owns 46,936 shares in the company, valued at $4,378,659.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Bernard J. Zovighian sold 8,617 shares of the business’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $87.68, for a total value of $755,538.56. Following the transaction, the chief executive officer now owns 68,218 shares in the company, valued at approximately $5,981,354.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Donald E. Bobo, Jr. sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $93.29, for a total value of $466,450.00. Following the sale, the vice president now directly owns 46,936 shares in the company, valued at approximately $4,378,659.44. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 81,099 shares of company stock worth $7,003,553. Corporate insiders own 1.29% of the company’s stock.

Institutional Investors Weigh In On Edwards Lifesciences

Several institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Edwards Lifesciences by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 52,964,394 shares of the medical research company’s stock worth $5,061,277,000 after acquiring an additional 600,994 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Edwards Lifesciences by 9.5% in 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 last quarter. Brown Advisory Inc. raised its holdings in Edwards Lifesciences by 20.1% in the 4th quarter. Brown Advisory Inc. now owns 18,181,420 shares of the medical research company’s stock valued at $1,386,333,000 after acquiring an additional 3,048,274 shares during the last quarter. Wellington Management Group LLP raised its holdings in Edwards Lifesciences by 2.4% in the 4th quarter. Wellington Management Group LLP now owns 16,827,510 shares of the medical research company’s stock valued at $1,283,098,000 after acquiring an additional 393,109 shares during the last quarter. Finally, Norges Bank acquired a new position in Edwards Lifesciences in the 4th quarter valued at $648,540,000. Hedge funds and other institutional investors own 79.46% of the company’s stock.

Edwards Lifesciences Company Profile

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.