Edwards Lifesciences (NYSE:EW) Given New $90.00 Price Target at Barclays

Edwards Lifesciences (NYSE:EW) had its price objective lowered by Barclays from $101.00 to $90.00 in a research report report published on Friday, Benzinga reports. Barclays currently has an overweight rating on the medical research company’s stock.

A number of other research firms also recently commented on EW. Robert W. Baird downgraded Edwards Lifesciences from an outperform rating to a neutral rating and dropped their price target for the company from $102.00 to $70.00 in a research note on Thursday. Piper Sandler dropped their target price on shares of Edwards Lifesciences from $88.00 to $73.00 and set a neutral rating for the company in a research report on Thursday. Citigroup increased their price target on shares of Edwards Lifesciences from $105.00 to $106.00 and gave the stock a buy rating in a research report on Wednesday, July 10th. Evercore ISI lowered their price objective on shares of Edwards Lifesciences from $91.00 to $76.00 and set an in-line rating for the company in a research report on Thursday. Finally, Wells Fargo & Company cut their target price on Edwards Lifesciences from $99.00 to $90.00 and set an overweight rating for the company in a research note on Thursday. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of Hold and an average price target of $82.10.

Edwards Lifesciences Price Performance

Shares of Edwards Lifesciences stock opened at $62.37 on Friday. The firm’s 50-day moving average price is $87.98 and its two-hundred day moving average price is $86.84. Edwards Lifesciences has a 1-year low of $58.93 and a 1-year high of $96.12. The stock has a market capitalization of $37.58 billion, a price-to-earnings ratio of 26.88, a P/E/G ratio of 2.22 and a beta of 1.11. The company has a current ratio of 3.71, a quick ratio of 2.67 and a debt-to-equity ratio of 0.08.

Edwards Lifesciences (NYSE:EW) last issued its quarterly earnings results on Wednesday, July 24th. The medical research company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.01. Edwards Lifesciences had a return on equity of 22.35% and a net margin of 24.55%. The business had revenue of $1.63 billion during the quarter, compared to analysts’ expectations of $1.65 billion. During the same period in the previous year, the company posted $0.66 earnings per share. The firm’s revenue for the quarter was up 6.7% compared to the same quarter last year. On average, equities analysts predict that Edwards Lifesciences will post 2.73 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Bernard J. Zovighian purchased 580 shares of Edwards Lifesciences stock in a transaction on Monday, May 6th. The shares were purchased at an average price of $85.74 per share, for a total transaction of $49,729.20. Following the transaction, the chief executive officer now owns 3,268 shares of the company’s stock, valued at approximately $280,198.32. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CEO Bernard J. Zovighian purchased 580 shares of the stock in a transaction on Monday, May 6th. The stock was purchased at an average price of $85.74 per share, for a total transaction of $49,729.20. Following the acquisition, the chief executive officer now owns 3,268 shares in the company, valued at $280,198.32. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Daniel J. Lippis sold 857 shares of the company’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $85.60, for a total transaction of $73,359.20. Following the completion of the sale, the vice president now directly owns 23,890 shares in the company, valued at $2,044,984. The disclosure for this sale can be found here. Insiders have sold a total of 81,099 shares of company stock valued at $7,003,553 over the last 90 days. 1.29% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in EW. Allspring Global Investments Holdings LLC increased its holdings in Edwards Lifesciences by 4.4% in the first quarter. Allspring Global Investments Holdings LLC now owns 330,711 shares of the medical research company’s stock worth $31,603,000 after purchasing an additional 14,087 shares in the last quarter. Empowered Funds LLC grew its position in shares of Edwards Lifesciences by 151.2% during the 1st quarter. Empowered Funds LLC now owns 20,123 shares of the medical research company’s stock worth $1,923,000 after buying an additional 12,112 shares during the period. Telos Capital Management Inc. increased its stake in shares of 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 in the last quarter. Arlington Trust Co LLC lifted its position in shares of Edwards Lifesciences by 5,092.4% during 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. Finally, HealthInvest Partners AB bought a new position in Edwards Lifesciences during the fourth quarter worth $1,587,000. 79.46% of the stock is 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.