Edwards Lifesciences Co. (NYSE:EW) Receives $79.82 Average PT from Brokerages

Edwards Lifesciences Co. (NYSE:EW) has been assigned a consensus recommendation of “Hold” from the twenty-seven analysts that are covering the firm, MarketBeat.com reports. Fifteen investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $78.23.

EW has been the topic of several recent research reports. Bank of America lowered Edwards Lifesciences from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $105.00 to $75.00 in a research report on Thursday, July 25th. Stifel Nicolaus dropped their price target 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. Oppenheimer reaffirmed an “outperform” rating and issued a $90.00 price objective on shares of Edwards Lifesciences in a report on Thursday, September 12th. Jefferies Financial Group lowered shares of Edwards Lifesciences from a “buy” rating to a “hold” rating and lowered their target price for the stock from $85.00 to $70.00 in a research note on Wednesday, September 18th. Finally, TD Cowen lowered Edwards Lifesciences from a “buy” rating to a “hold” rating and cut their price target for the company from $100.00 to $70.00 in a research note on Thursday, July 25th.

Insider Buying and Selling

In other 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 transaction of $330,400.00. Following the transaction, the vice president now owns 46,936 shares of the company’s stock, valued at approximately $3,101,530.88. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, VP Donald E. Bobo, Jr. sold 5,000 shares of Edwards Lifesciences stock in a transaction that occurred on Wednesday, August 14th. The shares were 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 of the company’s stock, 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 can be accessed through this link. Also, VP Daveen Chopra sold 1,250 shares of the stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $69.95, for a total value of $87,437.50. Following the completion of the transaction, the vice president now owns 29,333 shares of the company’s stock, valued at $2,051,843.35. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 16,250 shares of company stock worth $1,218,138. 1.29% of the stock is owned by corporate insiders.

Institutional Trading of Edwards Lifesciences

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC lifted its stake in Edwards Lifesciences by 4.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 330,711 shares of the medical research company’s stock worth $31,603,000 after purchasing an additional 14,087 shares in the last quarter. Empowered Funds LLC boosted its holdings in Edwards Lifesciences by 151.2% during the 1st quarter. Empowered Funds LLC now owns 20,123 shares of the medical research company’s stock valued at $1,923,000 after acquiring an additional 12,112 shares during the period. Cetera Advisors LLC grew its position in 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 acquiring an additional 24,242 shares in the last quarter. Sei Investments Co. increased its stake in Edwards Lifesciences by 10.8% during the fourth quarter. Sei Investments Co. now owns 558,031 shares of the medical research company’s stock worth $42,550,000 after purchasing an additional 54,595 shares during the period. Finally, Cim LLC acquired a new stake in shares of Edwards Lifesciences during the fourth quarter worth about $13,724,000. 79.46% of the stock is currently owned by hedge funds and other institutional investors.

Edwards Lifesciences Stock Performance

Shares of NYSE EW opened at $65.49 on Tuesday. The company has a 50 day simple moving average of $66.64 and a two-hundred day simple moving average of $80.99. The stock has a market cap of $39.46 billion, a price-to-earnings ratio of 28.23, a PEG ratio of 2.80 and a beta of 1.13. The company has a current ratio of 3.71, a quick ratio of 2.87 and a debt-to-equity ratio of 0.08. Edwards Lifesciences has a 12 month low of $58.93 and a 12 month high of $96.12.

Edwards Lifesciences (NYSE:EW) last posted its 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. The company had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.65 billion. Edwards Lifesciences had a net margin of 24.55% and a return on equity of 22.35%. The firm’s quarterly revenue was up 6.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.66 earnings per share. As a group, analysts predict that Edwards Lifesciences will post 2.71 earnings per share for the current year.

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.