Edwards Lifesciences (NYSE:EW) Given New $70.00 Price Target at Truist Financial

Edwards Lifesciences (NYSE:EW) had its target price decreased by equities research analysts at Truist Financial from $71.00 to $70.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage currently has a “hold” rating on the medical research company’s stock. Truist Financial’s price objective would suggest a potential upside of 1.80% from the stock’s current price.

A number of other analysts have also recently commented on the company. Oppenheimer restated an “outperform” rating and issued a $90.00 price target on shares of Edwards Lifesciences in a research report on Thursday, September 12th. Morgan Stanley reiterated an “equal weight” rating and issued a $70.00 price target on shares of Edwards Lifesciences in a research report on Friday, October 11th. Bank of America cut shares of Edwards Lifesciences from a “buy” rating to a “neutral” rating and lowered their target price for the company from $105.00 to $75.00 in a research note on Thursday, July 25th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Edwards Lifesciences from $103.00 to $85.00 and set a “buy” rating on the stock in a report on Thursday, July 25th. Finally, Evercore ISI reduced their price objective on shares of Edwards Lifesciences from $76.00 to $70.00 and set an “in-line” rating on the stock in a research report on Tuesday, October 1st. Fifteen analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Edwards Lifesciences presently has an average rating of “Hold” and a consensus price target of $75.67.

Edwards Lifesciences Stock Down 2.3 %

EW stock traded down $1.59 on Friday, reaching $68.76. 1,007,999 shares of the company traded hands, compared to its average volume of 4,560,609. Edwards Lifesciences has a one year low of $58.93 and a one year high of $96.12. The company has a market cap of $41.43 billion, a P/E ratio of 29.68, a price-to-earnings-growth ratio of 2.83 and a beta of 1.13. The firm has a fifty day simple moving average of $68.04 and a 200-day simple moving average of $78.71. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.71 and a quick ratio of 2.87.

Edwards Lifesciences (NYSE:EW) last announced its quarterly earnings results on Thursday, October 24th. The medical research company reported $0.67 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.67. The company had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.57 billion. Edwards Lifesciences had a net margin of 24.55% and a return on equity of 22.35%. Edwards Lifesciences’s revenue was up 8.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.59 EPS. Research analysts anticipate that Edwards Lifesciences will post 2.71 earnings per share for the current year.

Insider Activity

In other Edwards Lifesciences news, VP Daveen Chopra sold 1,250 shares of the firm’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 sale, the vice president now directly owns 29,333 shares in the company, valued at approximately $2,051,843.35. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, VP Donald E. Bobo, Jr. sold 5,000 shares of the stock in a transaction 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 sale, the vice president now directly owns 46,936 shares in the company, valued at approximately $3,101,530.88. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Daveen Chopra sold 1,250 shares of the company’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $69.95, for a total value of $87,437.50. Following the sale, the vice president now owns 29,333 shares of the company’s stock, valued at approximately $2,051,843.35. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 16,250 shares of company stock valued at $1,099,238. 1.29% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Edwards Lifesciences

Several hedge funds have recently made changes to their positions in EW. Vanguard Group Inc. grew its holdings in Edwards Lifesciences by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 52,964,394 shares of the medical research company’s stock worth $5,061,277,000 after acquiring an additional 600,994 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Edwards Lifesciences by 4.3% during the second quarter. Bank of New York Mellon Corp now owns 19,782,909 shares of the medical research company’s stock valued at $1,827,347,000 after acquiring an additional 809,605 shares during the period. Price T Rowe Associates Inc. MD increased 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 period. Champlain Investment Partners LLC raised its holdings in Edwards Lifesciences by 3.1% during the 1st quarter. Champlain Investment Partners LLC now owns 2,964,168 shares of the medical research company’s stock worth $283,256,000 after purchasing an additional 88,205 shares during the last quarter. Finally, AustralianSuper Pty Ltd grew its position in shares of Edwards Lifesciences by 14.2% during the 2nd quarter. AustralianSuper Pty Ltd now owns 2,778,812 shares of the medical research company’s stock worth $256,679,000 after buying an additional 344,465 shares during the period. 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.