Edwards Lifesciences (NYSE:EW) Rating Lowered to Hold at Truist Financial

Truist Financial downgraded shares of Edwards Lifesciences (NYSE:EW) from a buy rating to a hold rating in a report released on Thursday morning, Marketbeat Ratings reports. The brokerage currently has $82.00 price target on the medical research company’s stock, down from their previous price target of $110.00.

Several other equities research analysts have also issued reports on EW. Mizuho raised their price target on shares of Edwards Lifesciences from $95.00 to $105.00 and gave the stock a buy rating in a research note on Thursday, April 11th. Royal Bank of Canada lifted their price objective on shares of Edwards Lifesciences from $95.00 to $101.00 and gave the stock an outperform rating in a report on Monday, April 15th. Piper Sandler lifted their target price on shares of Edwards Lifesciences from $85.00 to $88.00 and gave the stock a neutral rating in a research report on Friday, April 26th. Evercore ISI lifted their target price on shares of Edwards Lifesciences from $89.00 to $91.00 and gave the stock an in-line rating in a research report on Tuesday, July 2nd. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Edwards Lifesciences from a hold rating to a buy rating and boosted their price objective for the company from $86.00 to $103.00 in a research report on Tuesday, May 14th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, Edwards Lifesciences presently has an average rating of Hold and an average price target of $82.10.

Edwards Lifesciences Price Performance

EW stock opened at $62.37 on Thursday. The stock has a market capitalization 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 company’s 50-day moving average is $87.98 and its 200-day moving average is $86.99. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.71 and a quick ratio of 2.67. 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 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. The business had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.65 billion. Edwards Lifesciences had a net margin of 24.55% and a return on equity of 22.35%. The firm’s revenue for the quarter was up 6.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.66 EPS. Equities research analysts expect that Edwards Lifesciences will post 2.71 EPS for the current fiscal year.

Insider Transactions at Edwards Lifesciences

In other news, 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 transaction, the vice president now owns 173,849 shares in the company, valued at $14,639,824.29. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, VP Jean-Luc M. Lemercier sold 14,400 shares of the firm’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 sale, the vice president now owns 173,849 shares in the company, valued at $14,639,824.29. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Bernard J. Zovighian bought 580 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The stock was bought at an average price of $85.74 per share, for a total transaction of $49,729.20. Following the acquisition, the chief executive officer now directly owns 3,268 shares of the company’s stock, valued at approximately $280,198.32. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 81,099 shares of company stock worth $7,003,553. Corporate insiders own 1.29% of the company’s stock.

Institutional Investors Weigh In On Edwards Lifesciences

Several institutional investors and hedge funds have recently added to or reduced their stakes in EW. DSM Capital Partners LLC bought a new position in Edwards Lifesciences in the fourth quarter worth approximately $28,000. Crewe Advisors LLC bought a new position in Edwards Lifesciences in the first quarter worth approximately $28,000. First Community Trust NA bought a new position in Edwards Lifesciences in the second quarter worth approximately $29,000. Turtle Creek Wealth Advisors LLC bought a new position in Edwards Lifesciences in the fourth quarter worth approximately $34,000. Finally, Riverview Trust Co bought a new position in Edwards Lifesciences in the first quarter worth approximately $34,000. 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.