Edwards Lifesciences Co. (NYSE:EW) Receives Average Rating of “Hold” from Analysts

Edwards Lifesciences Co. (NYSE:EW) has earned a consensus rating of “Hold” from the twenty-six ratings firms that are covering the firm, MarketBeat.com reports. Sixteen investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $75.67.

Several analysts recently weighed in on EW shares. Piper Sandler decreased their price target on Edwards Lifesciences from $73.00 to $70.00 and set a “neutral” rating on the stock in a report on Friday, October 25th. Canaccord Genuity Group lowered their target price on shares of Edwards Lifesciences from $66.00 to $63.00 and set a “hold” rating for the company in a report on Friday, October 25th. Daiwa Capital Markets upgraded shares of Edwards Lifesciences from a “neutral” rating to an “outperform” rating in a report on Wednesday, July 31st. Morgan Stanley reissued an “equal weight” rating and issued a $70.00 price objective on shares of Edwards Lifesciences in a research report on Friday, October 11th. Finally, Evercore ISI dropped their target price on Edwards Lifesciences from $76.00 to $70.00 and set an “in-line” rating for the company in a research report on Tuesday, October 1st.

Edwards Lifesciences Trading Up 0.4 %

Shares of EW opened at $71.56 on Wednesday. The stock has a market capitalization of $42.20 billion, a PE ratio of 10.33, a P/E/G ratio of 3.96 and a beta of 1.12. The company’s fifty day moving average is $67.83 and its 200 day moving average is $75.37. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.89 and a current ratio of 3.46. Edwards Lifesciences has a fifty-two week low of $58.93 and a fifty-two week high of $96.12.

Edwards Lifesciences (NYSE:EW) last announced its earnings results on Thursday, October 24th. The medical research company reported $0.67 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.67. Edwards Lifesciences had a net margin of 70.82% and a return on equity of 20.76%. The firm had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.57 billion. During the same period in the prior year, the company earned $0.59 EPS. The business’s revenue was up 8.9% compared to the same quarter last year. Sell-side analysts expect that Edwards Lifesciences will post 2.57 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, VP Donald E. Bobo, Jr. sold 5,000 shares of Edwards Lifesciences stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $69.51, for a total value of $347,550.00. Following the transaction, the vice president now owns 46,936 shares of the company’s stock, valued at $3,262,521.36. The trade was a 9.63 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Larry L. Wood sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $65.91, for a total transaction of $1,647,750.00. Following the transaction, the insider now owns 198,526 shares of the company’s stock, valued at approximately $13,084,848.66. This trade represents a 11.18 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 40,000 shares of company stock valued at $2,657,000 over the last 90 days. Corporate insiders own 1.29% of the company’s stock.

Hedge Funds Weigh In On Edwards Lifesciences

A number of large investors have recently made changes to their positions in the business. Wellington Management Group LLP increased its holdings in shares of Edwards Lifesciences by 86.3% during the third quarter. Wellington Management Group LLP now owns 31,532,725 shares of the medical research company’s stock valued at $2,080,845,000 after acquiring an additional 14,610,123 shares in the last quarter. State Street Corp grew its position in Edwards Lifesciences by 1.0% during the 3rd quarter. State Street Corp now owns 26,265,633 shares of the medical research company’s stock worth $1,733,270,000 after purchasing an additional 256,538 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Edwards Lifesciences by 4.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 19,782,909 shares of the medical research company’s stock valued at $1,827,347,000 after purchasing an additional 809,605 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Edwards Lifesciences by 2.2% in the third quarter. Geode Capital Management LLC now owns 13,521,147 shares of the medical research company’s stock worth $889,050,000 after buying an additional 284,918 shares during the last quarter. Finally, Fisher Asset Management LLC lifted its stake in shares of Edwards Lifesciences by 9.8% during the third quarter. Fisher Asset Management LLC now owns 9,078,311 shares of the medical research company’s stock worth $599,078,000 after buying an additional 806,705 shares during the period. 79.46% of the stock is owned by institutional investors and hedge funds.

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.