Truist Financial Lowers Edwards Lifesciences (NYSE:EW) to Hold

Truist Financial cut shares of Edwards Lifesciences (NYSE:EW) from a buy rating to a hold rating in a research report released on Thursday morning, MarketBeat Ratings reports. The brokerage currently has $82.00 price target on the medical research company’s stock, down from their prior price target of $110.00.

Several other brokerages also recently weighed in on EW. Deutsche Bank Aktiengesellschaft upgraded shares of Edwards Lifesciences from a hold rating to a buy rating and boosted their price objective for the stock from $86.00 to $103.00 in a research report on Tuesday, May 14th. Citigroup boosted their price target on shares of Edwards Lifesciences from $105.00 to $106.00 and gave the company a buy rating in a research report on Wednesday, July 10th. Mizuho raised their price objective on Edwards Lifesciences from $95.00 to $105.00 and gave the stock a buy rating in a report on Thursday, April 11th. Piper Sandler boosted their target price on Edwards Lifesciences from $85.00 to $88.00 and gave the company a neutral rating in a report on Friday, April 26th. Finally, 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 note on Monday, April 15th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, Edwards Lifesciences presently has a consensus rating of Hold and a consensus target price of $82.10.

Edwards Lifesciences Stock Performance

Shares of EW stock opened at $62.37 on Thursday. The company has a market cap of $37.58 billion, a P/E ratio of 26.88, a PEG ratio of 2.31 and a beta of 1.11. The firm has a fifty day moving average price of $87.98 and a 200 day moving average price of $86.92. 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 has a 12 month low of $58.93 and a 12 month high of $96.12.

Edwards Lifesciences (NYSE:EW) last released its quarterly earnings data on Wednesday, July 24th. The medical research company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.01. The business had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.65 billion. Edwards Lifesciences had a return on equity of 22.35% and a net margin of 24.55%. The business’s revenue for the quarter was up 6.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.66 EPS. Sell-side analysts predict that Edwards Lifesciences will post 2.71 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 the business’s stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $93.29, for a total transaction of $466,450.00. Following the transaction, the vice president now directly owns 46,936 shares in the company, valued at $4,378,659.44. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, VP Donald E. Bobo, Jr. sold 5,000 shares of the firm’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 completion of the sale, the vice president now directly owns 46,936 shares of the company’s stock, valued at approximately $4,378,659.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Scott B. Ullem sold 7,250 shares of the company’s stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $85.80, for a total value of $622,050.00. Following the transaction, the chief financial officer now directly owns 19,074 shares in the company, valued at approximately $1,636,549.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 81,099 shares of company stock worth $7,003,553. Company insiders own 1.29% of the company’s stock.

Hedge Funds Weigh In On Edwards Lifesciences

Large investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in 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 buying an additional 600,994 shares during the period. Bank of New York Mellon Corp lifted its position in shares of Edwards Lifesciences by 4.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 19,782,909 shares of the medical research company’s stock valued at $1,827,347,000 after acquiring an additional 809,605 shares during the period. Brown Advisory Inc. boosted its stake 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 acquiring an additional 3,048,274 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of 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 worth $1,283,098,000 after acquiring an additional 393,109 shares during the period. Finally, Norges Bank purchased a new position in Edwards Lifesciences in the 4th quarter valued at approximately $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.