Edwards Lifesciences (NYSE:EW) PT Lowered to $89.00

Edwards Lifesciences (NYSE:EW) had its price objective lowered by Evercore ISI from $92.00 to $89.00 in a report published on Friday, Benzinga reports. The firm currently has an in-line rating on the medical research company’s stock.

Several other analysts also recently issued reports on the company. Morgan Stanley lifted their price target on Edwards Lifesciences from $95.00 to $103.00 and gave the company an overweight rating in a research note on Thursday, March 21st. Stifel Nicolaus raised their price objective on Edwards Lifesciences from $83.00 to $85.00 and gave the company a hold rating in a report on Friday. Citigroup raised their price objective on Edwards Lifesciences from $90.00 to $98.00 and gave the company a neutral rating in a report on Wednesday, April 3rd. Mizuho raised their price objective on Edwards Lifesciences from $95.00 to $105.00 and gave the company a buy rating in a report on Thursday, April 11th. Finally, Piper Sandler raised their price objective on Edwards Lifesciences from $85.00 to $88.00 and gave the company a neutral rating in a report on Friday. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, Edwards Lifesciences presently has a consensus rating of Moderate Buy and a consensus price target of $93.33.

Edwards Lifesciences Stock Down 1.8 %

NYSE EW opened at $86.43 on Friday. The firm has a market cap of $52.02 billion, a PE ratio of 37.25, a price-to-earnings-growth ratio of 4.36 and a beta of 1.05. Edwards Lifesciences has a one year low of $60.57 and a one year high of $96.12. The stock’s 50 day simple moving average is $90.28 and its 200 day simple moving average is $78.85. The company has a debt-to-equity ratio of 0.09, a current ratio of 3.38 and a quick ratio of 2.40.

Edwards Lifesciences (NYSE:EW) last issued its quarterly earnings data on Thursday, April 25th. The medical research company reported $0.66 EPS for the quarter, topping the consensus estimate of $0.64 by $0.02. The business had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.58 billion. Edwards Lifesciences had a return on equity of 23.34% and a net margin of 23.01%. As a group, sell-side analysts forecast that Edwards Lifesciences will post 2.76 earnings per share for the current fiscal year.

Insider Activity

In other Edwards Lifesciences news, VP Jean-Luc M. Lemercier sold 14,400 shares of the business’s stock in a transaction on Monday, April 8th. The shares were sold at an average price of $92.32, for a total value of $1,329,408.00. Following the completion of the sale, the vice president now directly owns 173,849 shares of the company’s stock, valued at $16,049,739.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, VP Jean-Luc M. Lemercier sold 14,400 shares of the company’s stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $92.32, for a total transaction of $1,329,408.00. Following the completion of the transaction, the vice president now directly owns 173,849 shares of the company’s stock, valued at $16,049,739.68. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Michael A. Mussallem sold 29,350 shares of the business’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $92.42, for a total transaction of $2,712,527.00. Following the transaction, the director now owns 4,486 shares in the company, valued at approximately $414,596.12. The disclosure for this sale can be found here. Insiders sold 194,004 shares of company stock worth $17,166,254 in the last three months. Corporate insiders own 1.29% of the company’s stock.

Institutional Trading of Edwards Lifesciences

Several hedge funds have recently bought and sold shares of EW. Norges Bank purchased a new stake in Edwards Lifesciences in the 4th quarter worth $648,540,000. Brown Advisory Inc. lifted its stake 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 purchasing an additional 3,048,274 shares in the last quarter. WELLCOME TRUST LTD THE as trustee of the WELLCOME TRUST lifted its stake in Edwards Lifesciences by 440.0% in the 3rd quarter. WELLCOME TRUST LTD THE as trustee of the WELLCOME TRUST now owns 3,510,000 shares of the medical research company’s stock worth $243,173,000 after purchasing an additional 2,860,000 shares in the last quarter. CIBC Private Wealth Group LLC lifted its stake in Edwards Lifesciences by 197.0% in the 4th quarter. CIBC Private Wealth Group LLC now owns 3,446,758 shares of the medical research company’s stock worth $262,815,000 after purchasing an additional 2,286,119 shares in the last quarter. Finally, AustralianSuper Pty Ltd purchased a new stake in Edwards Lifesciences in the 4th quarter worth $168,519,000. Hedge funds and other 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.