Edwards Lifesciences (NYSE:EW) Price Target Lowered to $77.00 at Canaccord Genuity Group

Edwards Lifesciences (NYSE:EW) had its target price reduced by Canaccord Genuity Group from $85.00 to $77.00 in a research report released on Thursday morning, Benzinga reports. They currently have a hold rating on the medical research company’s stock.

Several other brokerages have also issued reports on EW. Wells Fargo & Company upped their target price on Edwards Lifesciences from $94.00 to $99.00 and gave the stock an overweight rating in a research note on Friday, April 26th. JPMorgan Chase & Co. lowered Edwards Lifesciences from an overweight rating to a neutral rating and cut their target price for the stock from $105.00 to $72.00 in a research note on Thursday. Evercore ISI upped their target price on Edwards Lifesciences from $89.00 to $91.00 and gave the stock an in-line rating in a research note on Tuesday, July 2nd. Citigroup upped their target price on Edwards Lifesciences from $105.00 to $106.00 and gave the stock a buy rating in a research note on Wednesday, July 10th. Finally, Truist Financial lowered Edwards Lifesciences from a buy rating to a hold rating and cut their target price for the stock from $110.00 to $82.00 in a research note on Thursday. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of Hold and an average target price of $83.45.

Edwards Lifesciences Trading Down 31.3 %

NYSE EW opened at $59.70 on Thursday. The stock has a market capitalization of $35.98 billion, a price-to-earnings ratio of 25.73, a PEG ratio of 3.18 and a beta of 1.11. Edwards Lifesciences has a one year low of $58.93 and a one year high of $96.12. 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 business’s fifty day moving average is $88.51 and its 200-day moving average is $86.93.

Edwards Lifesciences (NYSE:EW) last announced its quarterly earnings results on Wednesday, July 24th. The medical research company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.01. Edwards Lifesciences had a return on equity of 22.86% and a net margin of 24.55%. The firm had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.65 billion. During the same period in the prior year, the business posted $0.66 earnings per share. The company’s revenue was up 6.7% on a year-over-year basis. Equities research analysts predict that Edwards Lifesciences will post 2.77 EPS for the current year.

Insider Activity at Edwards Lifesciences

In related news, Director Michael A. Mussallem sold 29,350 shares of the stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $84.77, for a total transaction of $2,487,999.50. Following the sale, the director now directly owns 4,486 shares of the company’s stock, valued at $380,278.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Edwards Lifesciences news, CFO Scott B. Ullem sold 7,250 shares of the firm’s stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $85.80, for a total value of $622,050.00. Following the transaction, the chief financial officer now directly owns 19,074 shares of the company’s stock, valued at $1,636,549.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael A. Mussallem sold 29,350 shares of the firm’s stock in a transaction dated Thursday, May 2nd. The stock was 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 have sold 81,099 shares of company stock valued at $7,003,553 over the last ninety days. Insiders own 1.29% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in EW. DSM Capital Partners LLC bought a new position in shares of Edwards Lifesciences in the fourth quarter worth about $28,000. Crewe Advisors LLC bought a new position in shares of Edwards Lifesciences in the first quarter worth about $28,000. First Community Trust NA bought a new position in shares of Edwards Lifesciences in the second quarter worth about $29,000. Turtle Creek Wealth Advisors LLC bought a new position in shares of Edwards Lifesciences in the fourth quarter worth about $34,000. Finally, Riverview Trust Co bought a new position in shares of Edwards Lifesciences in the first quarter worth about $34,000. Institutional investors 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.