Edwards Lifesciences (NYSE:EW) Given New $90.00 Price Target at The Goldman Sachs Group

Edwards Lifesciences (NYSE:EW) had its target price raised by The Goldman Sachs Group from $81.00 to $90.00 in a report released on Thursday morning,Benzinga reports. They currently have a buy rating on the medical research company’s stock.

Several other research analysts have also recently weighed in on the stock. Barclays upped their price target on shares of Edwards Lifesciences from $85.00 to $88.00 and gave the company an “overweight” rating in a report on Monday. Citigroup reduced their target price on shares of Edwards Lifesciences from $83.00 to $77.00 and set a “buy” rating for the company in a research note on Tuesday, October 1st. Sanford C. Bernstein raised Edwards Lifesciences from a “strong sell” rating to a “hold” rating in a research note on Monday, October 28th. Wells Fargo & Company reduced their price objective on Edwards Lifesciences from $90.00 to $80.00 and set an “overweight” rating for the company in a research report on Monday, September 9th. Finally, Canaccord Genuity Group lifted their target price on Edwards Lifesciences from $63.00 to $68.00 and gave the company a “hold” rating in a research report on Thursday. Seventeen investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $78.35.

Edwards Lifesciences Price Performance

Shares of EW stock opened at $72.43 on Thursday. The company has a quick ratio of 2.89, a current ratio of 3.46 and a debt-to-equity ratio of 0.06. Edwards Lifesciences has a 12-month low of $58.93 and a 12-month high of $96.12. The firm has a fifty day moving average of $68.55 and a 200-day moving average of $74.76. The firm has a market capitalization of $42.72 billion, a price-to-earnings ratio of 10.45, a price-to-earnings-growth ratio of 3.95 and a beta of 1.12.

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 the consensus estimate of $0.67. Edwards Lifesciences had a return on equity of 20.76% and a net margin of 70.82%. The company had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.57 billion. During the same period in the prior year, the company earned $0.59 earnings per share. The company’s revenue for the quarter was up 8.9% compared to the same quarter last year. On average, equities research analysts forecast that Edwards Lifesciences will post 2.57 earnings per share for the current year.

Insider Activity

In other news, VP Donald E. Bobo, Jr. sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $69.51, for a total transaction of $347,550.00. Following the completion of the sale, the vice president now owns 46,936 shares in the company, valued at $3,262,521.36. The trade was a 9.63 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Larry L. Wood sold 25,000 shares of the stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $65.91, for a total value of $1,647,750.00. Following the transaction, the insider now owns 198,526 shares in the company, valued at approximately $13,084,848.66. This trade represents a 11.18 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 40,000 shares of company stock valued at $2,657,000 over the last three months. Insiders own 1.29% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in EW. First Community Trust NA bought a new stake in shares of Edwards Lifesciences in the second quarter valued at about $29,000. FSA Wealth Management LLC bought a new stake in Edwards Lifesciences in the 3rd quarter valued at about $30,000. Prospera Private Wealth LLC acquired a new position in shares of Edwards Lifesciences during the 3rd quarter worth approximately $32,000. Avior Wealth Management LLC increased its holdings in shares of Edwards Lifesciences by 138.7% during the third quarter. Avior Wealth Management LLC now owns 530 shares of the medical research company’s stock worth $35,000 after purchasing an additional 308 shares during the period. Finally, Webster Bank N. A. acquired a new stake in shares of Edwards Lifesciences in the second quarter valued at approximately $39,000. 79.46% of the stock is owned by institutional investors and hedge funds.

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.