Edwards Lifesciences (NYSE:EW) Downgraded by Baird R W

Baird R W cut shares of Edwards Lifesciences (NYSE:EW) from a strong-buy rating to a hold rating in a research report released on Thursday morning, Zacks.com reports.

EW has been the topic of a number of other reports. Robert W. Baird lowered shares of Edwards Lifesciences from an outperform rating to a neutral rating and reduced their price target for the company from $102.00 to $70.00 in a research report on Thursday. Bank of America cut Edwards Lifesciences from a buy rating to a neutral rating and dropped their price target for the company from $105.00 to $75.00 in a report on Thursday. Citigroup increased their target price on Edwards Lifesciences from $105.00 to $106.00 and gave the stock a buy rating in a report on Wednesday, July 10th. Barclays upped their price target on shares of Edwards Lifesciences from $100.00 to $101.00 and gave the stock an overweight rating in a research report on Tuesday, May 7th. Finally, Truist Financial downgraded shares of Edwards Lifesciences from a buy rating to a hold rating and dropped their target price for the stock from $110.00 to $82.00 in a research note on Thursday. One equities research 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’s stock. According to MarketBeat.com, the stock presently has an average rating of Hold and an average price target of $82.10.

Edwards Lifesciences Price Performance

Shares of Edwards Lifesciences stock opened at $62.37 on Thursday. The firm has a market cap of $37.58 billion, a P/E ratio of 26.88, a price-to-earnings-growth ratio of 2.31 and a beta of 1.11. The firm’s 50-day simple moving average is $87.98 and its 200-day simple moving average is $86.92. Edwards Lifesciences has a twelve month low of $58.93 and a twelve month 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 3.71.

Edwards Lifesciences (NYSE:EW) last released its quarterly earnings data 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 22.35% and a net margin of 24.55%. The company had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.65 billion. During the same period in the prior year, the company posted $0.66 EPS. The company’s revenue was up 6.7% compared to the same quarter last year. As a group, research analysts expect that Edwards Lifesciences will post 2.71 EPS for the current fiscal year.

Insider Transactions at Edwards Lifesciences

In related news, CFO Scott B. Ullem sold 7,250 shares of the business’s stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $85.80, for a total value of $622,050.00. Following the completion of the transaction, the chief financial officer now directly owns 19,074 shares in the company, valued at approximately $1,636,549.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Scott B. Ullem sold 7,250 shares of the company’s stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $85.80, for a total value of $622,050.00. Following the completion of the transaction, the chief financial officer now directly owns 19,074 shares of the company’s stock, valued at approximately $1,636,549.20. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Donald E. Bobo, Jr. sold 5,000 shares of Edwards Lifesciences stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $93.29, for a total value of $466,450.00. Following the completion of the sale, the vice president now directly owns 46,936 shares in the company, valued at approximately $4,378,659.44. The disclosure for this sale can be found here. Insiders have sold a total of 81,099 shares of company stock valued at $7,003,553 over the last 90 days. 1.29% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in EW. Allspring Global Investments Holdings LLC grew its stake in shares of Edwards Lifesciences by 4.4% in the first 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 raised its holdings 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 purchasing an additional 12,112 shares during the period. Telos Capital Management Inc. lifted its stake in Edwards Lifesciences by 158.2% in the 4th quarter. Telos Capital Management Inc. now owns 91,405 shares of the medical research company’s stock valued at $6,970,000 after purchasing an additional 56,000 shares during the last quarter. Arlington Trust Co LLC grew its holdings in Edwards Lifesciences by 5,092.4% during the fourth quarter. Arlington Trust Co LLC now owns 12,306 shares of the medical research company’s stock worth $938,000 after purchasing an additional 12,069 shares during the period. Finally, HealthInvest Partners AB acquired a new position in Edwards Lifesciences during the fourth quarter worth approximately $1,587,000. 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.