Edwards Lifesciences (NYSE:EW) Price Target Cut to $70.00 by Analysts at Stifel Nicolaus

Edwards Lifesciences (NYSE:EW) had its price target decreased by Stifel Nicolaus from $85.00 to $70.00 in a report released on Thursday, Benzinga reports. Stifel Nicolaus currently has a hold rating on the medical research company’s stock.

A number of other brokerages also recently commented on EW. Royal Bank of Canada boosted their price objective on shares of Edwards Lifesciences from $95.00 to $101.00 and gave the company an outperform rating in a research report on Monday, April 15th. Piper Sandler decreased their target price on shares of Edwards Lifesciences from $88.00 to $73.00 and set a neutral rating for the company in a research report on Thursday. Canaccord Genuity Group reduced their price objective on shares of Edwards Lifesciences from $85.00 to $77.00 and set a hold rating for the company in a research note on Thursday. The Goldman Sachs Group initiated coverage on shares of Edwards Lifesciences in a research note on Thursday, May 30th. They set a buy rating and a $107.00 target price for the company. Finally, Robert W. Baird lowered shares of Edwards Lifesciences from an outperform rating to a neutral rating and lowered their price target for the company from $102.00 to $70.00 in a report on Thursday. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of Hold and a consensus price target of $83.45.

Edwards Lifesciences Trading Down 31.3 %

NYSE EW opened at $59.70 on Thursday. Edwards Lifesciences has a one year low of $58.93 and a one year high of $96.12. The company has a 50-day simple moving average of $88.51 and a 200-day simple moving average of $86.93. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.67 and a current ratio of 3.75. The firm has a market capitalization of $35.98 billion, a PE ratio of 25.73, a price-to-earnings-growth ratio of 3.18 and a beta of 1.11.

Edwards Lifesciences (NYSE:EW) last issued 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 net margin of 24.55% and a return on equity of 22.86%. The firm had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.65 billion. During the same period last year, the firm posted $0.66 EPS. Edwards Lifesciences’s quarterly revenue was up 6.7% compared to the same quarter last year. On average, equities analysts forecast that Edwards Lifesciences will post 2.77 earnings per share for the current year.

Insider Buying and Selling at Edwards Lifesciences

In other Edwards Lifesciences news, VP Donald E. Bobo, Jr. sold 5,000 shares of the company’s stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $93.29, for a total transaction of $466,450.00. Following the transaction, the vice president now directly owns 46,936 shares in the company, valued at approximately $4,378,659.44. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CEO Bernard J. Zovighian sold 8,617 shares of the stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $87.68, for a total value of $755,538.56. Following the sale, the chief executive officer now directly owns 68,218 shares in the company, valued at approximately $5,981,354.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Donald E. Bobo, Jr. sold 5,000 shares of the stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $93.29, for a total transaction of $466,450.00. Following the completion of the sale, the vice president now owns 46,936 shares in the company, valued at $4,378,659.44. The disclosure for this sale can be found here. In the last three months, insiders have sold 81,099 shares of company stock worth $7,003,553. Company insiders own 1.29% of the company’s stock.

Institutional Trading of Edwards Lifesciences

A number of hedge funds have recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Edwards Lifesciences by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 52,964,394 shares of the medical research company’s stock valued at $5,061,277,000 after acquiring an additional 600,994 shares during the period. Bank of New York Mellon Corp raised its position in shares of Edwards Lifesciences by 4.3% in 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 acquiring an additional 809,605 shares during the period. Brown Advisory Inc. raised its holdings in Edwards Lifesciences by 20.1% during the 4th quarter. Brown Advisory Inc. now owns 18,181,420 shares of the medical research company’s stock worth $1,386,333,000 after buying an additional 3,048,274 shares during the period. Wellington Management Group LLP raised its holdings in Edwards Lifesciences by 2.4% during the 4th quarter. Wellington Management Group LLP now owns 16,827,510 shares of the medical research company’s stock worth $1,283,098,000 after buying an additional 393,109 shares during the period. Finally, Norges Bank acquired a new stake in Edwards Lifesciences during the 4th quarter worth approximately $648,540,000. 79.46% of the stock is currently owned by institutional investors and hedge funds.

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.