Edwards Lifesciences (NYSE:EW) Price Target Cut to $76.00

Edwards Lifesciences (NYSE:EW) had its price objective decreased by Evercore ISI from $91.00 to $76.00 in a research report report published on Thursday, Benzinga reports. Evercore ISI currently has an in-line rating on the medical research company’s stock.

Other analysts have also recently issued research reports about the company. Piper Sandler reduced their price objective on Edwards Lifesciences from $88.00 to $73.00 and set a neutral rating for the company in a research report on Thursday. Stifel Nicolaus lowered their target price on Edwards Lifesciences from $85.00 to $70.00 and set a hold rating on the stock in a research note on Thursday. Truist Financial downgraded Edwards Lifesciences from a buy rating to a hold rating and lowered their target price for the company from $110.00 to $82.00 in a research note on Thursday. Wells Fargo & Company boosted their target price on Edwards Lifesciences from $94.00 to $99.00 and gave the company an overweight rating in a research note on Friday, April 26th. Finally, Mizuho boosted their target price on Edwards Lifesciences from $95.00 to $105.00 and gave the company a buy rating in a research note on Thursday, April 11th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of Hold and a consensus price target of $82.10.

Edwards Lifesciences Stock Performance

Shares of Edwards Lifesciences stock opened at $62.37 on Thursday. The stock has a market cap of $37.58 billion, a PE ratio of 26.88, a price-to-earnings-growth ratio of 2.31 and a beta of 1.11. The business has a fifty day simple moving average of $87.98 and a 200-day simple moving average of $86.99. The company has a quick ratio of 2.67, a current ratio of 3.71 and a debt-to-equity ratio of 0.08. Edwards Lifesciences has a 12 month low of $58.93 and a 12 month high of $96.12.

Edwards Lifesciences (NYSE:EW) last issued its earnings results on Wednesday, July 24th. The medical research company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.69 by $0.01. The business had revenue of $1.63 billion during the quarter, compared to analysts’ expectations of $1.65 billion. Edwards Lifesciences had a return on equity of 22.35% and a net margin of 24.55%. Edwards Lifesciences’s revenue was up 6.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.66 earnings per share. On average, sell-side analysts anticipate that Edwards Lifesciences will post 2.71 EPS for the current fiscal year.

Insider Buying and Selling

In related news, VP Jean-Luc M. Lemercier sold 14,400 shares of the business’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $84.21, for a total transaction of $1,212,624.00. Following the completion of the transaction, the vice president now owns 173,849 shares of the company’s stock, valued at approximately $14,639,824.29. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Bernard J. Zovighian purchased 580 shares of the business’s stock in a transaction on Monday, May 6th. The stock was purchased 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 directly owns 3,268 shares in the company, valued at approximately $280,198.32. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Jean-Luc M. Lemercier sold 14,400 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $84.21, for a total value of $1,212,624.00. Following the completion of the transaction, the vice president now directly owns 173,849 shares of the company’s stock, valued at approximately $14,639,824.29. The disclosure for this sale can be found here. In the last 90 days, insiders sold 81,099 shares of company stock valued at $7,003,553. Insiders own 1.29% of the company’s stock.

Hedge Funds Weigh In On Edwards Lifesciences

Several large investors have recently added to or reduced their stakes in EW. Allspring Global Investments Holdings LLC grew its stake in shares of Edwards Lifesciences by 4.4% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 330,711 shares of the medical research company’s stock valued at $31,603,000 after purchasing an additional 14,087 shares during the period. Empowered Funds LLC grew its stake in shares of Edwards Lifesciences by 151.2% in the 1st quarter. Empowered Funds LLC now owns 20,123 shares of the medical research company’s stock valued at $1,923,000 after purchasing an additional 12,112 shares during the period. Telos Capital Management Inc. grew its stake in shares of Edwards Lifesciences by 158.2% in the 4th quarter. Telos Capital Management Inc. now owns 91,405 shares of the medical research company’s stock valued at $6,970,000 after purchasing an additional 56,000 shares during the period. Arlington Trust Co LLC grew its stake in shares of Edwards Lifesciences by 5,092.4% in the 4th quarter. Arlington Trust Co LLC now owns 12,306 shares of the medical research company’s stock valued at $938,000 after purchasing an additional 12,069 shares during the period. Finally, HealthInvest Partners AB bought a new stake in shares of Edwards Lifesciences in the 4th quarter valued at approximately $1,587,000. Institutional investors and hedge funds 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.