Stifel Nicolaus Forecasts Strong Price Appreciation for Edwards Lifesciences (NYSE:EW) Stock

Edwards Lifesciences (NYSE:EW) had its target price lifted by stock analysts at Stifel Nicolaus from $70.00 to $75.00 in a research report issued on Thursday,Benzinga reports. The firm currently has a “hold” rating on the medical research company’s stock. Stifel Nicolaus’ price objective indicates a potential upside of 3.15% from the stock’s previous close.

Several other analysts also recently weighed in on EW. Robert W. Baird reduced their target price on Edwards Lifesciences from $73.00 to $68.00 and set a “neutral” rating for the company in a report on Friday, October 25th. Royal Bank of Canada boosted their target price on Edwards Lifesciences from $80.00 to $85.00 and gave the company an “outperform” rating in a report on Thursday. Barclays boosted their target price on Edwards Lifesciences from $85.00 to $88.00 and gave the company an “overweight” rating in a report on Monday. Oppenheimer reissued an “outperform” rating and issued a $90.00 target price on shares of Edwards Lifesciences in a report on Thursday, September 12th. Finally, Truist Financial reduced their target price on Edwards Lifesciences from $71.00 to $70.00 and set a “hold” rating for the company in a report on Friday, October 25th. Seventeen analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, Edwards Lifesciences has a consensus rating of “Hold” and a consensus price target of $78.00.

Edwards Lifesciences Stock Down 2.0 %

NYSE EW traded down $1.49 during trading on Thursday, reaching $72.71. 815,732 shares of the company’s stock were exchanged, compared to its average volume of 4,635,760. The stock has a market cap of $42.88 billion, a P/E ratio of 10.49, a price-to-earnings-growth ratio of 3.95 and a beta of 1.12. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.89 and a current ratio of 3.46. The company has a 50 day moving average price of $68.42 and a two-hundred day moving average price of $74.77. Edwards Lifesciences has a 1 year low of $58.93 and a 1 year high of $96.12.

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

Insider Buying and Selling

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

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Wellington Management Group LLP lifted its stake in shares of Edwards Lifesciences by 86.3% during the 3rd quarter. Wellington Management Group LLP now owns 31,532,725 shares of the medical research company’s stock worth $2,080,845,000 after purchasing an additional 14,610,123 shares during the period. State Street Corp lifted its stake in shares of 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 period. Bank of New York Mellon Corp lifted its stake in shares of 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 worth $1,827,347,000 after purchasing an additional 809,605 shares during the period. Geode Capital Management LLC lifted its stake in shares of Edwards Lifesciences by 2.2% during the 3rd quarter. Geode Capital Management LLC now owns 13,521,147 shares of the medical research company’s stock worth $889,050,000 after purchasing an additional 284,918 shares during the period. Finally, Fisher Asset Management LLC raised its position in shares of Edwards Lifesciences by 9.8% in the 3rd 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. 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.