Edwards Lifesciences (NYSE:EW) Price Target Cut to $80.00

Edwards Lifesciences (NYSE:EW) had its target price decreased by Barclays from $90.00 to $80.00 in a research report sent to investors on Monday morning, Benzinga reports. Barclays currently has an overweight rating on the medical research company’s stock.

A number of other equities research analysts have also commented on EW. The Goldman Sachs Group dropped their price target on Edwards Lifesciences from $107.00 to $91.00 and set a buy rating on the stock in a research report on Friday, July 26th. Oppenheimer dropped their price target on Edwards Lifesciences from $100.00 to $90.00 and set an outperform rating on the stock in a research report on Thursday, July 25th. Canaccord Genuity Group dropped their price target on Edwards Lifesciences from $85.00 to $77.00 and set a hold rating on the stock in a research report on Thursday, July 25th. StockNews.com lowered Edwards Lifesciences from a buy rating to a hold rating in a research report on Thursday, July 25th. Finally, JPMorgan Chase & Co. lowered Edwards Lifesciences from an overweight rating to a neutral rating and dropped their target price for the company from $105.00 to $72.00 in a research report on Thursday, July 25th. Fifteen investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Edwards Lifesciences has an average rating of Hold and a consensus price target of $80.81.

Edwards Lifesciences Price Performance

Shares of EW opened at $68.15 on Monday. The company has a current ratio of 3.71, a quick ratio of 2.87 and a debt-to-equity ratio of 0.08. Edwards Lifesciences has a 1 year low of $58.93 and a 1 year high of $96.12. The stock has a market cap of $41.07 billion, a P/E ratio of 29.38, a price-to-earnings-growth ratio of 2.79 and a beta of 1.13. The stock’s 50-day moving average price is $72.86 and its two-hundred day moving average price is $83.61.

Edwards Lifesciences (NYSE:EW) last issued its earnings results on Wednesday, July 24th. The medical research company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.01. The firm had revenue of $1.63 billion for 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%. The company’s revenue was up 6.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.66 earnings per share. On average, equities analysts predict that Edwards Lifesciences will post 2.7 earnings per share for the current year.

Insider Transactions at Edwards Lifesciences

In other news, VP Donald E. Bobo, Jr. sold 5,000 shares of Edwards Lifesciences stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $66.08, for a total transaction of $330,400.00. Following the completion of the transaction, the vice president now directly owns 46,936 shares in the company, valued at approximately $3,101,530.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, VP Daveen Chopra sold 1,250 shares of the business’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $69.95, for a total value of $87,437.50. Following the completion of the sale, the vice president now directly owns 29,333 shares in the company, valued at approximately $2,051,843.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Donald E. Bobo, Jr. sold 5,000 shares of the business’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $66.08, for a total value of $330,400.00. Following the completion of the sale, the vice president now owns 46,936 shares of the company’s stock, valued at $3,101,530.88. The disclosure for this sale can be found here. In the last three months, insiders sold 16,250 shares of company stock worth $1,218,138. 1.29% of the stock is owned by company insiders.

Institutional Trading of Edwards Lifesciences

Several institutional investors have recently added to or reduced their stakes in EW. Park Avenue Securities LLC raised its holdings in Edwards Lifesciences by 0.5% in the 2nd quarter. Park Avenue Securities LLC now owns 23,484 shares of the medical research company’s stock valued at $2,169,000 after acquiring an additional 108 shares in the last quarter. City State Bank raised its holdings in Edwards Lifesciences by 16.5% in the 2nd quarter. City State Bank now owns 917 shares of the medical research company’s stock valued at $85,000 after acquiring an additional 130 shares in the last quarter. Chapin Davis Inc. raised its holdings in Edwards Lifesciences by 1.7% in the 1st quarter. Chapin Davis Inc. now owns 8,548 shares of the medical research company’s stock valued at $817,000 after acquiring an additional 140 shares in the last quarter. Johnson Financial Group Inc. raised its holdings in Edwards Lifesciences by 23.0% in the 4th quarter. Johnson Financial Group Inc. now owns 771 shares of the medical research company’s stock valued at $59,000 after acquiring an additional 144 shares in the last quarter. Finally, Valley National Advisers Inc. raised its holdings in Edwards Lifesciences by 6.0% in the 1st quarter. Valley National Advisers Inc. now owns 2,677 shares of the medical research company’s stock valued at $255,000 after acquiring an additional 152 shares in the last quarter. 79.46% of the stock is currently owned by 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.