Edwards Lifesciences (NYSE:EW) Price Target Raised to $88.00 at Barclays

Edwards Lifesciences (NYSE:EW) had its target price increased by equities research analysts at Barclays from $85.00 to $88.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the medical research company’s stock. Barclays‘s price objective would suggest a potential upside of 25.37% from the company’s current price.

Other equities research analysts have also issued research reports about the stock. Evercore ISI lowered their target price on shares of Edwards Lifesciences from $76.00 to $70.00 and set an “in-line” rating on the stock in a report on Tuesday, October 1st. Truist Financial decreased their price objective on shares of Edwards Lifesciences from $71.00 to $70.00 and set a “hold” rating on the stock in a research note on Friday, October 25th. Citigroup cut their price objective on Edwards Lifesciences from $83.00 to $77.00 and set a “buy” rating for the company in a research report on Tuesday, October 1st. Daiwa America cut Edwards Lifesciences from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 30th. Finally, Canaccord Genuity Group cut their price target on Edwards Lifesciences from $66.00 to $63.00 and set a “hold” rating for the company in a report on Friday, October 25th. Seventeen analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $77.25.

Edwards Lifesciences Price Performance

NYSE:EW traded down $1.16 during mid-day trading on Monday, hitting $70.19. The company’s stock had a trading volume of 594,941 shares, compared to its average volume of 4,612,499. The company has a market capitalization of $41.40 billion, a price-to-earnings ratio of 10.13, a P/E/G ratio of 4.01 and a beta of 1.12. The company has a current ratio of 3.46, a quick ratio of 2.89 and a debt-to-equity ratio of 0.06. Edwards Lifesciences has a fifty-two week low of $58.93 and a fifty-two week high of $96.12. The stock has a fifty day moving average of $68.10 and a 200-day moving average of $75.05.

Edwards Lifesciences (NYSE:EW) last issued its earnings results on Thursday, October 24th. The medical research company reported $0.67 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.67. The business had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.57 billion. Edwards Lifesciences had a return on equity of 20.76% and a net margin of 70.82%. Edwards Lifesciences’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.59 EPS. As a group, equities analysts forecast that Edwards Lifesciences will post 2.57 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Larry L. Wood sold 25,000 shares of the company’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $65.91, for a total transaction of $1,647,750.00. Following the sale, the insider now owns 198,526 shares in the company, valued at approximately $13,084,848.66. This represents a 11.18 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Donald E. Bobo, Jr. sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $69.51, for a total value of $347,550.00. Following the sale, the vice president now owns 46,936 shares in the company, valued at approximately $3,262,521.36. This represents a 9.63 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 40,000 shares of company stock worth $2,657,000 over the last ninety days. 1.29% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Edwards Lifesciences

Institutional investors have recently added to or reduced their stakes in the company. First Community Trust NA acquired a new position in shares of Edwards Lifesciences during the 2nd quarter worth about $29,000. Webster Bank N. A. acquired a new stake in shares of Edwards Lifesciences in the second quarter valued at approximately $39,000. FSA Wealth Management LLC bought a new position in shares of Edwards Lifesciences during the 3rd quarter worth approximately $30,000. Prospera Private Wealth LLC acquired a new position in shares of Edwards Lifesciences during the 3rd quarter worth approximately $32,000. Finally, Avior Wealth Management LLC raised its stake in Edwards Lifesciences by 138.7% in the 3rd quarter. Avior Wealth Management LLC now owns 530 shares of the medical research company’s stock valued at $35,000 after acquiring an additional 308 shares during the period. 79.46% of the stock is currently owned by institutional investors and hedge funds.

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.