Edwards Lifesciences (NYSE:EW) PT Raised to $99.00 at Wells Fargo & Company

Edwards Lifesciences (NYSE:EW) had its target price increased by Wells Fargo & Company from $94.00 to $99.00 in a research report released on Friday morning, Benzinga reports. The brokerage currently has an overweight rating on the medical research company’s stock.

EW has been the subject of several other reports. Oppenheimer raised their target price on shares of Edwards Lifesciences from $93.00 to $100.00 and gave the stock an outperform rating in a research report on Monday, March 18th. Piper Sandler raised their price objective on shares of Edwards Lifesciences from $85.00 to $88.00 and gave the stock a neutral rating in a report on Friday. Morgan Stanley upped their target price on Edwards Lifesciences from $95.00 to $103.00 and gave the stock an overweight rating in a report on Thursday, March 21st. Royal Bank of Canada raised their target price on Edwards Lifesciences from $95.00 to $101.00 and gave the company an outperform rating in a research note on Monday, April 15th. Finally, Stifel Nicolaus lifted their price target on Edwards Lifesciences from $83.00 to $85.00 and gave the company a hold rating in a research report on Friday. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $92.71.

Edwards Lifesciences Stock Down 0.6 %

Shares of NYSE:EW opened at $85.95 on Friday. The stock’s 50-day moving average is $90.27 and its 200 day moving average is $79.06. The company has a market cap of $51.74 billion, a PE ratio of 37.05, a P/E/G ratio of 4.28 and a beta of 1.05. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.75 and a quick ratio of 2.67. Edwards Lifesciences has a 1 year low of $60.57 and a 1 year high of $96.12.

Edwards Lifesciences (NYSE:EW) last posted its earnings results on Thursday, April 25th. The medical research company reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.02. Edwards Lifesciences had a return on equity of 22.86% and a net margin of 23.01%. The firm had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.58 billion. Sell-side analysts anticipate that Edwards Lifesciences will post 2.76 EPS for the current year.

Insider Buying and Selling at Edwards Lifesciences

In other news, Director Michael A. Mussallem sold 29,350 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $86.67, for a total value of $2,543,764.50. Following the transaction, the director now owns 4,486 shares in the company, valued at $388,801.62. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, Director Michael A. Mussallem sold 29,350 shares of the business’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $86.67, for a total value of $2,543,764.50. Following the completion of the transaction, the director now owns 4,486 shares in the company, valued at $388,801.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Donald E. Bobo, Jr. sold 11,000 shares of the stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $85.83, for a total value of $944,130.00. Following the sale, the vice president now directly owns 39,503 shares in the company, valued at $3,390,542.49. The disclosure for this sale can be found here. In the last ninety days, insiders sold 194,004 shares of company stock worth $17,166,254. 1.27% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EW. Riverview Trust Co bought a new position in shares of Edwards Lifesciences during the 1st quarter valued at $34,000. DSM Capital Partners LLC bought a new position in Edwards Lifesciences in the fourth quarter valued at about $28,000. Turtle Creek Wealth Advisors LLC purchased a new position in Edwards Lifesciences in the fourth quarter worth about $34,000. Rise Advisors LLC grew its stake in shares of Edwards Lifesciences by 125.0% during the 1st quarter. Rise Advisors LLC now owns 477 shares of the medical research company’s stock valued at $46,000 after purchasing an additional 265 shares during the period. Finally, Pingora Partners LLC purchased a new stake in shares of Edwards Lifesciences during the 4th quarter valued at about $38,000. 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.