Edwards Lifesciences (NYSE:EW) Given New $70.00 Price Target at Piper Sandler

Edwards Lifesciences (NYSE:EW) had its price target reduced by Piper Sandler from $73.00 to $70.00 in a research note released on Friday, Benzinga reports. They currently have a neutral rating on the medical research company’s stock.

A number of other analysts also recently commented on EW. Robert W. Baird decreased their price target on Edwards Lifesciences from $73.00 to $68.00 and set a “neutral” rating for the company in a research report on Friday. Morgan Stanley reissued an “equal weight” rating and issued a $70.00 price target on shares of Edwards Lifesciences in a report on Friday, October 11th. Citigroup decreased their target price on shares of Edwards Lifesciences from $83.00 to $77.00 and set a “buy” rating on the stock in a report on Tuesday, October 1st. Daiwa America raised shares of Edwards Lifesciences to a “strong-buy” rating in a report on Wednesday, July 31st. Finally, Jefferies Financial Group cut Edwards Lifesciences from a “buy” rating to a “hold” rating and reduced their target price for the stock from $85.00 to $70.00 in a research report on Wednesday, September 18th. Fifteen analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Edwards Lifesciences has an average rating of “Hold” and an average target price of $75.67.

Edwards Lifesciences Price Performance

Edwards Lifesciences stock traded down $0.97 during mid-day trading on Friday, reaching $69.38. The company had a trading volume of 8,171,703 shares, compared to its average volume of 4,595,216. The business has a fifty day simple moving average of $68.09 and a 200 day simple moving average of $78.49. The company has a market cap of $41.81 billion, a P/E ratio of 29.91, a P/E/G ratio of 2.83 and a beta of 1.13. 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 fifty-two week low of $58.93 and a fifty-two week high of $96.12.

Edwards Lifesciences (NYSE:EW) last issued its 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. Edwards Lifesciences had a return on equity of 22.35% and a net margin of 24.55%. The business had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.57 billion. During the same quarter in the prior year, the firm earned $0.59 EPS. The business’s revenue for the quarter was up 8.9% compared to the same quarter last year. On average, equities research analysts predict that Edwards Lifesciences will post 2.71 earnings per share for the current year.

Insider Buying and Selling

In other Edwards Lifesciences news, VP Donald E. Bobo, Jr. sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $66.08, for a total transaction of $330,400.00. Following the sale, the vice president now directly owns 46,936 shares of the company’s stock, valued at $3,101,530.88. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, VP Daveen Chopra sold 1,250 shares of the company’s stock in a transaction that occurred on Tuesday, August 20th. The shares were 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 owns 29,333 shares of the company’s stock, valued at approximately $2,051,843.35. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Donald E. Bobo, Jr. sold 5,000 shares of the company’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $66.08, for a total value of $330,400.00. Following the sale, the vice president now owns 46,936 shares of the company’s stock, valued at approximately $3,101,530.88. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 16,250 shares of company stock valued at $1,099,238. 1.29% of the stock is owned by company insiders.

Hedge Funds Weigh In On Edwards Lifesciences

A number of large investors have recently added to or reduced their stakes in EW. Brookstone Capital Management grew its stake in Edwards Lifesciences by 3.2% during the 1st quarter. Brookstone Capital Management now owns 12,275 shares of the medical research company’s stock valued at $1,173,000 after purchasing an additional 383 shares during the last quarter. Citizens Business Bank purchased a new stake in shares of Edwards Lifesciences in the 1st quarter valued at approximately $3,275,000. Chapin Davis Inc. lifted its holdings in shares of Edwards Lifesciences by 1.7% in the 1st quarter. Chapin Davis Inc. now owns 8,548 shares of the medical research company’s stock worth $817,000 after acquiring an additional 140 shares during the last quarter. Aviance Capital Partners LLC raised its holdings in shares of Edwards Lifesciences by 61.8% in the 1st quarter. Aviance Capital Partners LLC now owns 7,194 shares of the medical research company’s stock valued at $687,000 after buying an additional 2,748 shares during the period. Finally, Miracle Mile Advisors LLC boosted its holdings in Edwards Lifesciences by 16.1% during the 1st quarter. Miracle Mile Advisors LLC now owns 10,878 shares of the medical research company’s stock valued at $1,040,000 after acquiring an additional 1,507 shares during the period. 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.