Edwards Lifesciences (NYSE:EW) Price Target Lowered to $63.00 at Canaccord Genuity Group

Edwards Lifesciences (NYSE:EW) had its price target decreased by Canaccord Genuity Group from $66.00 to $63.00 in a report released on Friday, Benzinga reports. Canaccord Genuity Group currently has a hold rating on the medical research company’s stock.

Several other analysts have also recently issued reports on the company. TD Cowen cut Edwards Lifesciences from a “buy” rating to a “hold” rating and cut their target price for the stock from $100.00 to $70.00 in a research note on Thursday, July 25th. Bank of America cut Edwards Lifesciences from a “buy” rating to a “neutral” rating and reduced their target price for the company from $105.00 to $75.00 in a research note on Thursday, July 25th. Piper Sandler dropped their price target on Edwards Lifesciences from $73.00 to $70.00 and set a “neutral” rating for the company in a research note on Friday. Baird R W lowered shares of Edwards Lifesciences from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 25th. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $70.00 price target on shares of Edwards Lifesciences in a research report on Friday, October 11th. Fifteen analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $75.67.

Edwards Lifesciences Trading Down 1.4 %

Shares of Edwards Lifesciences stock traded down $0.97 during trading on Friday, reaching $69.38. The company’s stock had a trading volume of 8,171,703 shares, compared to its average volume of 4,595,216. The company has a market cap of $41.81 billion, a price-to-earnings ratio of 29.91, a PEG ratio of 2.83 and a beta of 1.13. The firm’s 50-day moving average is $68.08 and its two-hundred day moving average is $78.65. Edwards Lifesciences has a 52-week low of $58.93 and a 52-week high of $96.12. The company has a quick ratio of 2.87, a current ratio of 3.71 and a debt-to-equity ratio of 0.08.

Edwards Lifesciences (NYSE:EW) last posted its quarterly earnings results on Thursday, October 24th. The medical research company reported $0.67 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.67. Edwards Lifesciences had a return on equity of 22.35% and a net margin of 24.55%. The business had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.57 billion. During the same period last year, the company earned $0.59 EPS. Edwards Lifesciences’s revenue for the quarter was up 8.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Edwards Lifesciences will post 2.71 earnings per share for the current year.

Insider Transactions at Edwards Lifesciences

In other news, VP Donald E. Bobo, Jr. sold 5,000 shares of the company’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $69.51, for a total transaction of $347,550.00. Following the completion of the sale, the vice president now owns 46,936 shares of the company’s stock, valued at $3,262,521.36. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Edwards Lifesciences news, VP Donald E. Bobo, Jr. sold 5,000 shares of the business’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $69.51, for a total transaction of $347,550.00. Following the completion of the sale, the vice president now owns 46,936 shares of the company’s stock, valued at approximately $3,262,521.36. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Daveen Chopra sold 1,250 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $69.95, for a total value of $87,437.50. Following the completion of the transaction, the vice president now directly owns 29,333 shares in the company, valued at $2,051,843.35. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 16,250 shares of company stock worth $1,099,238 in the last ninety days. Insiders own 1.29% of the company’s stock.

Institutional Trading of Edwards Lifesciences

Several institutional investors and hedge funds have recently modified their holdings of EW. Crewe Advisors LLC bought a new stake in shares of Edwards Lifesciences during the first quarter valued at approximately $28,000. First Community Trust NA bought a new stake in shares of Edwards Lifesciences in the second quarter worth about $29,000. Webster Bank N. A. bought a new position in Edwards Lifesciences during the second quarter valued at approximately $39,000. Versant Capital Management Inc boosted its stake in Edwards Lifesciences by 206.3% during the second quarter. Versant Capital Management Inc now owns 484 shares of the medical research company’s stock valued at $45,000 after buying an additional 326 shares during the last quarter. Finally, HHM Wealth Advisors LLC purchased a new position in Edwards Lifesciences during the 2nd quarter valued at approximately $55,000. 79.46% of the stock is currently owned by institutional investors.

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.