Edwards Lifesciences (NYSE:EW) PT Raised to $101.00

Edwards Lifesciences (NYSE:EW) had its target price lifted by stock analysts at Barclays from $100.00 to $101.00 in a report released on Tuesday, Benzinga reports. The brokerage presently has an “overweight” rating on the medical research company’s stock. Barclays‘s target price indicates a potential upside of 18.70% from the company’s previous close.

EW has been the topic of a number of other research reports. Stifel Nicolaus lifted their price target on Edwards Lifesciences from $83.00 to $85.00 and gave the stock a “hold” rating in a research note on Friday, April 26th. Piper Sandler upped their price target on shares of Edwards Lifesciences from $85.00 to $88.00 and gave the company a “neutral” rating in a research report on Friday, April 26th. StockNews.com upgraded shares of Edwards Lifesciences from a “hold” rating to a “buy” rating in a research report on Monday, April 29th. Citigroup increased their target price on Edwards Lifesciences from $90.00 to $98.00 and gave the company a “neutral” rating in a report on Wednesday, April 3rd. Finally, Oppenheimer lifted their price target on Edwards Lifesciences from $93.00 to $100.00 and gave the company an “outperform” rating in a report on Monday, March 18th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, Edwards Lifesciences presently has a consensus rating of “Moderate Buy” and an average target price of $93.27.

Edwards Lifesciences Stock Performance

Shares of EW opened at $85.09 on Tuesday. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.75 and a quick ratio of 2.67. The firm’s 50 day moving average is $90.05 and its 200-day moving average is $79.69. Edwards Lifesciences has a 12-month low of $60.57 and a 12-month high of $96.12. The stock has a market capitalization of $51.28 billion, a P/E ratio of 36.68, a P/E/G ratio of 3.59 and a beta of 1.10.

Edwards Lifesciences (NYSE:EW) last posted its quarterly earnings results on Thursday, April 25th. The medical research company reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.02. Edwards Lifesciences had a net margin of 23.01% and a return on equity of 22.86%. The firm had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.58 billion. Equities research analysts anticipate that Edwards Lifesciences will post 2.77 EPS for the current fiscal year.

Insider Buying and Selling at Edwards Lifesciences

In other Edwards Lifesciences news, CEO Bernard J. Zovighian purchased 580 shares of the business’s stock in a transaction dated Monday, May 6th. The shares were acquired at an average price of $85.74 per share, for a total transaction of $49,729.20. Following the acquisition, the chief executive officer now owns 3,268 shares of the company’s stock, valued at $280,198.32. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Bernard J. Zovighian purchased 580 shares of the firm’s stock in a transaction dated Monday, May 6th. The stock was bought at an average price of $85.74 per share, for a total transaction of $49,729.20. Following the purchase, the chief executive officer now owns 3,268 shares in the company, valued at approximately $280,198.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Michael A. Mussallem sold 29,350 shares of the firm’s stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $84.77, for a total value of $2,487,999.50. Following the completion of the transaction, the director now directly owns 4,486 shares in the company, valued at $380,278.22. The disclosure for this sale can be found here. Insiders sold 230,693 shares of company stock worth $20,310,942 over the last ninety days. 1.27% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of Edwards Lifesciences by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 52,363,400 shares of the medical research company’s stock valued at $3,992,709,000 after purchasing an additional 729,984 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in Edwards Lifesciences by 9.5% in the 1st quarter. Bank of New York Mellon Corp now owns 18,973,304 shares of the medical research company’s stock valued at $1,813,089,000 after buying an additional 1,644,869 shares during the last quarter. Brown Advisory Inc. increased its position in Edwards Lifesciences by 20.1% in 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 buying an additional 3,048,274 shares during the period. Wellington Management Group LLP lifted its holdings in shares of Edwards Lifesciences by 2.4% during the fourth quarter. Wellington Management Group LLP now owns 16,827,510 shares of the medical research company’s stock worth $1,283,098,000 after buying an additional 393,109 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Edwards Lifesciences in the fourth quarter valued at approximately $648,540,000. 79.46% of the stock is currently owned by institutional investors and hedge funds.

About Edwards Lifesciences

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.