Edwards Lifesciences (NYSE:EW) Price Target Cut to $71.00 by Analysts at Truist Financial

Edwards Lifesciences (NYSE:EW) had its price target lowered by Truist Financial from $82.00 to $71.00 in a research note released on Friday, Benzinga reports. The firm currently has a hold rating on the medical research company’s stock.

EW has been the topic of several other research reports. Evercore ISI dropped their price objective on Edwards Lifesciences from $91.00 to $76.00 and set an in-line rating on the stock in a research note on Thursday, July 25th. Bank of America lowered Edwards Lifesciences from a buy rating to a neutral rating and cut their price target for the company from $105.00 to $75.00 in a research note on Thursday, July 25th. Stifel Nicolaus lowered their price objective on shares of Edwards Lifesciences from $85.00 to $70.00 and set a hold rating for the company in a research note on Thursday, July 25th. JPMorgan Chase & Co. cut shares of Edwards Lifesciences from an overweight rating to a neutral rating and dropped their target price for the stock from $105.00 to $72.00 in a report on Thursday, July 25th. Finally, Wells Fargo & Company reduced their price target on shares of Edwards Lifesciences from $90.00 to $80.00 and set an overweight rating for the company in a report on Monday, September 9th. Fifteen investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Edwards Lifesciences currently has a consensus rating of Hold and a consensus target price of $80.29.

Edwards Lifesciences Trading Up 0.6 %

Shares of EW opened at $68.52 on Friday. Edwards Lifesciences has a twelve month low of $58.93 and a twelve month high of $96.12. The company has a current ratio of 3.71, a quick ratio of 2.87 and a debt-to-equity ratio of 0.08. The company’s fifty day simple moving average is $72.39 and its 200-day simple moving average is $83.49. The company has a market cap of $41.28 billion, a P/E ratio of 29.53, a P/E/G ratio of 2.85 and a beta of 1.13.

Edwards Lifesciences (NYSE:EW) last issued its quarterly earnings results on Wednesday, July 24th. The medical research company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.01. Edwards Lifesciences had a return on equity of 22.35% and a net margin of 24.55%. The firm had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.65 billion. During the same period in the prior year, the business posted $0.66 earnings per share. The company’s revenue for the quarter was up 6.7% on a year-over-year basis. As a group, analysts expect that Edwards Lifesciences will post 2.7 EPS 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 Edwards Lifesciences stock in a transaction dated Wednesday, July 10th. The stock was 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 of the company’s stock, valued at approximately $4,378,659.44. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, VP Daveen Chopra sold 1,250 shares of the firm’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $69.95, for a total transaction of $87,437.50. Following the completion of the transaction, the vice president now owns 29,333 shares of the company’s stock, valued at $2,051,843.35. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Donald E. Bobo, Jr. sold 5,000 shares of the company’s stock in a transaction 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 directly 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 quarter, insiders have sold 16,250 shares of company stock worth $1,218,138. 1.29% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Edwards Lifesciences

A number of institutional investors have recently modified their holdings of the stock. DSM Capital Partners LLC acquired a new stake in Edwards Lifesciences during the fourth quarter worth about $28,000. Crewe Advisors LLC purchased a new stake in Edwards Lifesciences in the 1st quarter worth approximately $28,000. First Community Trust NA acquired a new stake in shares of Edwards Lifesciences during the 2nd quarter worth approximately $29,000. Riverview Trust Co purchased a new position in shares of Edwards Lifesciences during the 1st quarter valued at approximately $34,000. Finally, Pingora Partners LLC acquired a new position in shares of Edwards Lifesciences in the 4th quarter valued at $38,000. Hedge funds and other institutional investors own 79.46% of the company’s stock.

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.