Edwards Lifesciences (NYSE:EW) Rating Lowered to Neutral at Bank of America

Bank of America downgraded shares of Edwards Lifesciences (NYSE:EW) from a buy rating to a neutral rating in a research report sent to investors on Thursday morning, MarketBeat reports. Bank of America currently has $75.00 target price on the medical research company’s stock, down from their prior target price of $105.00.

Several other research analysts also recently commented on the company. Mizuho raised their target price on Edwards Lifesciences from $95.00 to $105.00 and gave the stock a buy rating in a research note on Thursday, April 11th. Piper Sandler lifted their price target on Edwards Lifesciences from $85.00 to $88.00 and gave the stock a neutral rating in a research note on Friday, April 26th. Robert W. Baird lowered Edwards Lifesciences from an outperform rating to a neutral rating and cut their price objective for the stock from $102.00 to $70.00 in a research report on Thursday. Royal Bank of Canada lifted their price objective on Edwards Lifesciences from $95.00 to $101.00 and gave the stock an outperform rating in a research report on Monday, April 15th. Finally, JPMorgan Chase & Co. lowered Edwards Lifesciences from an overweight rating to a neutral rating and dropped their price target for the company from $105.00 to $72.00 in a research report on Thursday. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of Hold and an average price target of $82.10.

Edwards Lifesciences Trading Up 4.5 %

Shares of Edwards Lifesciences stock opened at $62.37 on Thursday. Edwards Lifesciences has a 1 year low of $58.93 and a 1 year high of $96.12. The firm has a market cap of $37.58 billion, a PE ratio of 26.88, a P/E/G ratio of 2.31 and a beta of 1.11. The stock has a fifty day moving average price of $87.98 and a 200-day moving average price of $86.99. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.71 and a quick ratio of 2.67.

Edwards Lifesciences (NYSE:EW) last posted its quarterly earnings results on Wednesday, July 24th. The medical research company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.01. The company had revenue of $1.63 billion during 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 firm’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.66 EPS. Equities research analysts anticipate that Edwards Lifesciences will post 2.71 EPS for the current year.

Insider Activity

In other news, 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 transaction of $622,050.00. Following the transaction, the chief financial officer now directly owns 19,074 shares of the company’s stock, valued at $1,636,549.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Edwards Lifesciences news, CFO Scott B. Ullem sold 5,625 shares of the stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $90.45, for a total value of $508,781.25. Following the transaction, the chief financial officer now owns 30,561 shares of the company’s stock, valued at $2,764,242.45. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Scott B. Ullem sold 7,250 shares of the stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $85.80, for a total value of $622,050.00. Following the completion of 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. Insiders have sold a total of 81,099 shares of company stock valued at $7,003,553 over the last ninety days. 1.29% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of EW. DSM Capital Partners LLC bought a new position in Edwards Lifesciences in the fourth quarter valued at about $28,000. Crewe Advisors LLC bought a new position in shares of Edwards Lifesciences in the first quarter worth about $28,000. First Community Trust NA bought a new position in shares of Edwards Lifesciences in the second quarter worth about $29,000. Turtle Creek Wealth Advisors LLC bought a new position in shares of Edwards Lifesciences in the fourth quarter worth about $34,000. Finally, Riverview Trust Co bought a new position in shares of Edwards Lifesciences in the first quarter worth about $34,000. 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.