Royal Bank of Canada Trims Edwards Lifesciences (NYSE:EW) Target Price to $75.00

Edwards Lifesciences (NYSE:EW) had its price objective lowered by Royal Bank of Canada from $85.00 to $75.00 in a report issued on Tuesday morning, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the medical research company’s stock.

Several other equities research analysts have also recently issued reports on the stock. Stifel Nicolaus decreased their target price on shares of Edwards Lifesciences from $85.00 to $70.00 and set a hold rating on the stock in a research report on Thursday, July 25th. Daiwa America raised shares of Edwards Lifesciences to a strong-buy rating in a research report on Wednesday, July 31st. Truist Financial decreased their target price on shares of Edwards Lifesciences from $82.00 to $71.00 and set a hold rating on the stock in a research report on Friday, September 13th. Oppenheimer reissued an outperform rating and issued a $90.00 target price on shares of Edwards Lifesciences in a research report on Thursday, September 12th. Finally, Barclays decreased their target price on shares of Edwards Lifesciences from $90.00 to $80.00 and set an overweight rating on the stock in a research report on Monday, September 9th. Sixteen analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Edwards Lifesciences currently has an average rating of Hold and an average target price of $77.27.

Edwards Lifesciences Stock Performance

Shares of EW opened at $68.26 on Tuesday. The company has a 50-day simple moving average of $66.86 and a 200-day simple moving average of $80.43. The company has a quick ratio of 2.87, a current ratio of 3.71 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $41.13 billion, a PE ratio of 29.42, a P/E/G ratio of 2.80 and a beta of 1.13. Edwards Lifesciences has a 52-week low of $58.93 and a 52-week high of $96.12.

Edwards Lifesciences (NYSE:EW) last announced its quarterly earnings results on Wednesday, July 24th. The medical research company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.01. Edwards Lifesciences had a net margin of 24.55% and a return on equity of 22.35%. The business had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.65 billion. During the same quarter last year, the firm posted $0.66 EPS. The business’s revenue was up 6.7% compared to the same quarter last year. Equities research analysts predict that Edwards Lifesciences will post 2.71 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Edwards Lifesciences news, VP Donald E. Bobo, Jr. sold 5,000 shares of the business’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $66.08, for a total value of $330,400.00. Following the sale, the vice president now directly owns 46,936 shares in the company, valued at approximately $3,101,530.88. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Edwards Lifesciences news, VP Donald E. Bobo, Jr. sold 5,000 shares of the business’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $66.08, for a total transaction of $330,400.00. Following the sale, the vice president now owns 46,936 shares in the company, valued at approximately $3,101,530.88. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Daveen Chopra sold 1,250 shares of the business’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 sale, the vice president now owns 29,333 shares in the company, valued at approximately $2,051,843.35. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 11,250 shares of company stock valued at $751,688 over the last 90 days. 1.29% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Edwards Lifesciences

Large investors have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC grew its stake in shares of Edwards Lifesciences by 4.4% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 330,711 shares of the medical research company’s stock valued at $31,603,000 after buying an additional 14,087 shares in the last quarter. Empowered Funds LLC grew its stake in shares of Edwards Lifesciences by 151.2% in the 1st quarter. Empowered Funds LLC now owns 20,123 shares of the medical research company’s stock valued at $1,923,000 after buying an additional 12,112 shares in the last quarter. Cetera Advisors LLC grew its stake in shares of Edwards Lifesciences by 175.1% in the 1st quarter. Cetera Advisors LLC now owns 38,090 shares of the medical research company’s stock valued at $3,640,000 after buying an additional 24,242 shares in the last quarter. Sei Investments Co. grew its stake in shares of Edwards Lifesciences by 10.8% in the 4th quarter. Sei Investments Co. now owns 558,031 shares of the medical research company’s stock valued at $42,550,000 after buying an additional 54,595 shares in the last quarter. Finally, Cim LLC bought a new stake in shares of Edwards Lifesciences in the 4th quarter valued at approximately $13,724,000. Institutional investors and hedge funds own 79.46% of the company’s stock.

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.