Edwards Lifesciences (NYSE:EW) Lowered to “Neutral” at JPMorgan Chase & Co.

JPMorgan Chase & Co. cut shares of Edwards Lifesciences (NYSE:EW) from an overweight rating to a neutral rating in a research report released on Thursday, MarketBeat.com reports. They currently have $72.00 price objective on the medical research company’s stock, down from their prior price objective of $105.00.

EW has been the topic of a number of other research reports. Wells Fargo & Company increased their price objective on Edwards Lifesciences from $94.00 to $99.00 and gave the stock an overweight rating in a report on Friday, April 26th. Stifel Nicolaus raised their price objective on shares of Edwards Lifesciences from $83.00 to $85.00 and gave the company a hold rating in a research report on Friday, April 26th. Mizuho boosted their price objective on shares of Edwards Lifesciences from $95.00 to $105.00 and gave the company a buy rating in a research note on Thursday, April 11th. Truist Financial cut shares of Edwards Lifesciences from a buy rating to a hold rating and lowered their target price for the stock from $110.00 to $82.00 in a research note on Thursday. Finally, StockNews.com upgraded shares of Edwards Lifesciences from a hold rating to a buy rating in a research report on Thursday, June 27th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus target price of $83.45.

Edwards Lifesciences Price Performance

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

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 analysts’ consensus estimates of $0.69 by $0.01. Edwards Lifesciences had a net margin of 24.55% and a return on equity of 22.86%. The business had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.65 billion. During the same period in the previous year, the business earned $0.66 EPS. Edwards Lifesciences’s revenue was up 6.7% compared to the same quarter last year. Equities analysts expect that Edwards Lifesciences will post 2.77 EPS for the current year.

Insider Transactions at Edwards Lifesciences

In other Edwards Lifesciences news, CEO Bernard J. Zovighian bought 580 shares of Edwards Lifesciences stock in a transaction that occurred on Monday, May 6th. The shares were bought at an average price of $85.74 per share, with a total value of $49,729.20. Following the acquisition, the chief executive officer now owns 3,268 shares in the company, valued at $280,198.32. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Bernard J. Zovighian bought 580 shares of the stock in a transaction dated Monday, May 6th. The stock was bought at an average price of $85.74 per share, with a total value of $49,729.20. Following the purchase, the chief executive officer now owns 3,268 shares in the company, valued at approximately $280,198.32. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael A. Mussallem sold 29,350 shares of the firm’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $84.77, for a total value of $2,487,999.50. Following the transaction, the director now owns 4,486 shares in the company, valued at $380,278.22. The disclosure for this sale can be found here. In the last ninety days, insiders sold 81,099 shares of company stock worth $7,003,553. 1.29% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Norges Bank bought a new position in shares of Edwards Lifesciences during the 4th quarter valued at $648,540,000. Brown Advisory Inc. lifted its holdings in Edwards Lifesciences by 20.1% in the fourth quarter. Brown Advisory Inc. now owns 18,181,420 shares of the medical research company’s stock valued at $1,386,333,000 after acquiring an additional 3,048,274 shares during the period. Price T Rowe Associates Inc. MD boosted its position in Edwards Lifesciences by 57.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,516,260 shares of the medical research company’s stock worth $622,695,000 after purchasing an additional 2,390,137 shares during the last quarter. CIBC Private Wealth Group LLC grew its stake in shares of Edwards Lifesciences by 197.0% during the 4th quarter. CIBC Private Wealth Group LLC now owns 3,446,758 shares of the medical research company’s stock valued at $262,815,000 after purchasing an additional 2,286,119 shares during the period. Finally, Bank of New York Mellon Corp increased its position in shares of Edwards Lifesciences by 9.5% during the 1st quarter. Bank of New York Mellon Corp now owns 18,973,304 shares of the medical research company’s stock valued at $1,813,089,000 after purchasing an additional 1,644,869 shares during the last quarter. 79.46% of the stock is owned by hedge funds and other institutional investors.

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.