Evercore ISI Issues Pessimistic Forecast for Edwards Lifesciences (NYSE:EW) Stock Price

Edwards Lifesciences (NYSE:EW) had its price objective lowered by equities research analysts at Evercore ISI from $75.00 to $73.00 in a report released on Wednesday,Benzinga reports. The firm presently has an “in-line” rating on the medical research company’s stock. Evercore ISI’s price objective would indicate a potential downside of 3.89% from the company’s previous close.

EW has been the subject of several other research reports. Barclays raised their price objective on shares of Edwards Lifesciences from $85.00 to $88.00 and gave the company an “overweight” rating in a research report on Monday, December 2nd. JPMorgan Chase & Co. raised their price objective on shares of Edwards Lifesciences from $72.00 to $78.00 and gave the company a “neutral” rating in a research report on Friday, October 25th. Wolfe Research lowered shares of Edwards Lifesciences from a “peer perform” rating to an “underperform” rating and set a $60.00 price objective for the company. in a research report on Thursday, January 16th. Citigroup raised their price objective on shares of Edwards Lifesciences from $81.00 to $83.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. Finally, Truist Financial restated a “hold” rating and set a $78.00 price objective (up previously from $70.00) on shares of Edwards Lifesciences in a research report on Thursday, December 5th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $79.95.

Edwards Lifesciences Stock Performance

Shares of EW opened at $75.96 on Wednesday. The firm has a 50-day moving average price of $72.51 and a 200 day moving average price of $69.36. The firm has a market capitalization of $44.80 billion, a PE ratio of 10.96, a P/E/G ratio of 3.64 and a beta of 1.10. 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 52-week low of $58.93 and a 52-week high of $96.12.

Edwards Lifesciences (NYSE:EW) last announced its earnings results on Tuesday, February 11th. The medical research company reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.04. Edwards Lifesciences had a net margin of 70.82% and a return on equity of 20.76%. On average, sell-side analysts anticipate that Edwards Lifesciences will post 2.56 earnings per share for the current fiscal year.

Insider Transactions at Edwards Lifesciences

In related news, VP Donald E. Bobo, Jr. sold 6,500 shares of the firm’s stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $75.75, for a total transaction of $492,375.00. Following the transaction, the vice president now owns 46,936 shares of the company’s stock, valued at approximately $3,555,402. This trade represents a 12.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Scott B. Ullem sold 11,250 shares of the firm’s stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $75.76, for a total transaction of $852,300.00. Following the transaction, the chief financial officer now directly owns 30,561 shares in the company, valued at approximately $2,315,301.36. The trade was a 26.91 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 20,750 shares of company stock valued at $1,564,255 over the last three months. 1.29% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Edwards Lifesciences

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Harbor Capital Advisors Inc. grew its stake in shares of Edwards Lifesciences by 2.5% in the fourth quarter. Harbor Capital Advisors Inc. now owns 11,135 shares of the medical research company’s stock worth $824,000 after acquiring an additional 273 shares during the last quarter. Nordea Investment Management AB grew its stake in shares of Edwards Lifesciences by 34.6% in the fourth quarter. Nordea Investment Management AB now owns 4,057,013 shares of the medical research company’s stock worth $301,355,000 after acquiring an additional 1,043,484 shares during the last quarter. WELLCOME TRUST LTD THE as trustee of the WELLCOME TRUST grew its stake in shares of Edwards Lifesciences by 6.7% in the fourth quarter. WELLCOME TRUST LTD THE as trustee of the WELLCOME TRUST now owns 4,800,000 shares of the medical research company’s stock worth $355,344,000 after acquiring an additional 300,000 shares during the last quarter. Sivik Global Healthcare LLC acquired a new stake in shares of Edwards Lifesciences in the fourth quarter worth $3,702,000. Finally, Avanza Fonder AB acquired a new stake in shares of Edwards Lifesciences in the fourth quarter worth $4,845,000. 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.