Edwards Lifesciences (NYSE:EW) Rating Increased to Hold at Dbs Bank

Edwards Lifesciences (NYSE:EW) was upgraded by stock analysts at Dbs Bank to a “hold” rating in a note issued to investors on Monday,Zacks.com reports.

Several other research firms have also commented on EW. Wall Street Zen lowered Edwards Lifesciences from a “buy” rating to a “hold” rating in a report on Friday, May 16th. Citigroup reiterated a “buy” rating and set a $95.00 price target (up previously from $84.00) on shares of Edwards Lifesciences in a report on Thursday, May 22nd. Barclays lifted their price target on Edwards Lifesciences from $88.00 to $90.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Truist Financial reduced their price target on Edwards Lifesciences from $78.00 to $75.00 and set a “hold” rating on the stock in a report on Friday, April 11th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $85.00 price target on shares of Edwards Lifesciences in a report on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $80.20.

Edwards Lifesciences Trading Up 0.3%

Shares of EW stock opened at $77.95 on Monday. The stock’s fifty day moving average is $73.76 and its two-hundred day moving average is $72.64. 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 firm has a market capitalization of $45.73 billion, a P/E ratio of 11.18, a PEG ratio of 4.82 and a beta of 1.12. Edwards Lifesciences has a fifty-two week low of $58.93 and a fifty-two week high of $95.25.

Edwards Lifesciences (NYSE:EW) last announced its quarterly earnings data on Wednesday, April 23rd. The medical research company reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.04. The company had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.40 billion. Edwards Lifesciences had a return on equity of 19.40% and a net margin of 72.93%. The firm’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.66 EPS. Research analysts expect that Edwards Lifesciences will post 2.45 earnings per share for the current fiscal year.

Insider Buying and Selling at Edwards Lifesciences

In other Edwards Lifesciences news, VP Donald E. Bobo, Jr. sold 2,570 shares of Edwards Lifesciences stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $77.40, for a total value of $198,918.00. Following the completion of the transaction, the vice president now directly owns 50,356 shares of the company’s stock, valued at $3,897,554.40. The trade was a 4.86% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Bernard J. Zovighian sold 6,164 shares of Edwards Lifesciences stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $69.51, for a total value of $428,459.64. Following the completion of the transaction, the chief executive officer now directly owns 59,083 shares of the company’s stock, valued at approximately $4,106,859.33. This represents a 9.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 59,012 shares of company stock valued at $4,224,717 in the last three months. 1.29% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Edwards Lifesciences

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in shares of Edwards Lifesciences by 10.4% during the fourth quarter. Vanguard Group Inc. now owns 69,132,036 shares of the medical research company’s stock worth $5,117,845,000 after buying an additional 6,537,494 shares in the last quarter. Wellington Management Group LLP grew its position in shares of Edwards Lifesciences by 5.3% during the fourth quarter. Wellington Management Group LLP now owns 33,210,879 shares of the medical research company’s stock worth $2,458,601,000 after buying an additional 1,678,154 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Edwards Lifesciences by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 13,647,341 shares of the medical research company’s stock worth $1,007,520,000 after buying an additional 126,194 shares in the last quarter. Jennison Associates LLC grew its position in shares of Edwards Lifesciences by 34.3% during the first quarter. Jennison Associates LLC now owns 10,086,033 shares of the medical research company’s stock worth $731,036,000 after buying an additional 2,576,383 shares in the last quarter. Finally, Fisher Asset Management LLC grew its position in shares of Edwards Lifesciences by 7.7% during the fourth quarter. Fisher Asset Management LLC now owns 9,775,276 shares of the medical research company’s stock worth $723,664,000 after buying an additional 696,965 shares in the last quarter. 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.