Edwards Lifesciences (NYSE:EW) Upgraded at Citigroup

Edwards Lifesciences (NYSE:EWGet Free Report) was upgraded by equities research analysts at Citigroup from a “neutral” rating to a “buy” rating in a research note issued on Wednesday, Marketbeat.com reports. The firm presently has a $105.00 target price on the medical research company’s stock, up from their previous target price of $98.00. Citigroup’s price target points to a potential upside of 20.05% from the stock’s previous close.

EW has been the subject of several other reports. OTR Global raised shares of Edwards Lifesciences from a “mixed” rating to a “positive” rating in a report on Tuesday, March 26th. Piper Sandler lifted their price objective on Edwards Lifesciences from $85.00 to $88.00 and gave the stock a “neutral” rating in a research note on Friday, April 26th. Barclays increased their target price on Edwards Lifesciences from $100.00 to $101.00 and gave the company an “overweight” rating in a research note on Tuesday, May 7th. Oppenheimer upped their price target on Edwards Lifesciences from $93.00 to $100.00 and gave the stock an “outperform” rating in a report on Monday, March 18th. Finally, Mizuho raised their price objective on shares of Edwards Lifesciences from $95.00 to $105.00 and gave the stock a “buy” rating in a research note on Thursday, April 11th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $94.31.

Check Out Our Latest Stock Report on Edwards Lifesciences

Edwards Lifesciences Stock Performance

EW stock opened at $87.46 on Wednesday. The firm has a 50 day simple moving average of $89.77 and a 200 day simple moving average of $81.38. The stock has a market cap of $52.70 billion, a P/E ratio of 37.70, a P/E/G ratio of 3.30 and a beta of 1.10. Edwards Lifesciences has a 52 week low of $60.57 and a 52 week high of $96.12. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.67 and a current ratio of 3.75.

Edwards Lifesciences (NYSE:EWGet Free Report) last announced its quarterly earnings results on Thursday, April 25th. The medical research company reported $0.66 EPS for the quarter, beating the consensus estimate of $0.64 by $0.02. The business had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.58 billion. Edwards Lifesciences had a return on equity of 22.86% and a net margin of 23.01%. Research analysts anticipate that Edwards Lifesciences will post 2.77 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Edwards Lifesciences news, CEO Bernard J. Zovighian acquired 580 shares of the business’s stock in a transaction on Monday, May 6th. The stock was purchased at an average price of $85.74 per share, for a total transaction of $49,729.20. Following the transaction, the chief executive officer now owns 3,268 shares in the company, valued at approximately $280,198.32. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CEO Bernard J. Zovighian acquired 580 shares of the stock in a transaction on Monday, May 6th. The stock was purchased at an average price of $85.74 per share, for a total transaction of $49,729.20. Following the transaction, the chief executive officer now owns 3,268 shares of the company’s stock, valued at approximately $280,198.32. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, CFO Scott B. Ullem sold 7,255 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $85.59, for a total transaction of $620,955.45. Following the transaction, the chief financial officer now owns 19,074 shares in the company, valued at $1,632,543.66. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 180,707 shares of company stock valued at $16,034,814. 1.29% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Edwards Lifesciences

Institutional investors and hedge funds have recently made changes to their positions in the company. Norges Bank bought a new position in Edwards Lifesciences in the fourth quarter valued at approximately $648,540,000. Brown Advisory Inc. grew its stake in shares of Edwards Lifesciences by 20.1% during the fourth quarter. Brown Advisory Inc. now owns 18,181,420 shares of the medical research company’s stock worth $1,386,333,000 after purchasing an additional 3,048,274 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in Edwards Lifesciences by 57.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,516,260 shares of the medical research company’s stock valued at $622,695,000 after purchasing an additional 2,390,137 shares during the last quarter. CIBC Private Wealth Group LLC lifted its stake in Edwards Lifesciences by 197.0% in the fourth quarter. CIBC Private Wealth Group LLC now owns 3,446,758 shares of the medical research company’s stock valued at $262,815,000 after buying an additional 2,286,119 shares during the period. Finally, AustralianSuper Pty Ltd bought a new position in Edwards Lifesciences during the fourth quarter worth about $168,519,000. Institutional investors own 79.46% of the company’s stock.

Edwards Lifesciences Company Profile

(Get Free Report)

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.

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