Piper Sandler Increases Edwards Lifesciences (NYSE:EW) Price Target to $73.00

Edwards Lifesciences (NYSE:EW) had its price target increased by equities research analysts at Piper Sandler from $70.00 to $73.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the medical research company’s stock. Piper Sandler’s price target points to a potential downside of 3.89% from the stock’s current price.

A number of other research analysts have also recently issued reports on the stock. Robert W. Baird decreased their price objective on shares of Edwards Lifesciences from $73.00 to $68.00 and set a “neutral” rating for the company in a report on Friday, October 25th. Wolfe Research cut 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 Edwards Lifesciences from $81.00 to $83.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Morgan Stanley boosted their target price on Edwards Lifesciences from $70.00 to $75.00 and gave the company an “equal weight” rating in a research note on Wednesday. Finally, Royal Bank of Canada raised their price target on Edwards Lifesciences from $80.00 to $85.00 and gave the stock an “outperform” rating in a research report on Thursday, December 5th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, Edwards Lifesciences has an average rating of “Hold” and an average price target of $79.95.

Edwards Lifesciences Stock Performance

EW stock opened at $75.96 on Wednesday. Edwards Lifesciences has a twelve month low of $58.93 and a twelve month high of $96.12. The company has a quick ratio of 2.89, a current ratio of 3.46 and a debt-to-equity ratio of 0.06. The company has a market cap of $44.80 billion, a P/E ratio of 10.96, a price-to-earnings-growth ratio of 3.64 and a beta of 1.10. The business’s fifty day moving average is $72.51 and its 200-day moving average is $69.36.

Edwards Lifesciences (NYSE:EW) last released its earnings results on Tuesday, February 11th. The medical research company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.04. Edwards Lifesciences had a return on equity of 20.76% and a net margin of 70.82%. Equities research analysts forecast that Edwards Lifesciences will post 2.56 EPS for the current year.

Insider Buying and Selling

In other Edwards Lifesciences news, VP Donald E. Bobo, Jr. sold 6,500 shares of the company’s stock in a transaction 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 sale, the vice president now directly owns 46,936 shares of the company’s stock, valued at approximately $3,555,402. This represents a 12.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Daniel J. Lippis sold 2,500 shares of the stock in a transaction on Monday, December 16th. The shares were sold at an average price of $74.08, for a total transaction of $185,200.00. Following the completion of the sale, the vice president now owns 23,189 shares of the company’s stock, valued at approximately $1,717,841.12. This represents a 9.73 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 20,750 shares of company stock worth $1,564,255. Corporate insiders own 1.29% of the company’s stock.

Institutional Trading of Edwards Lifesciences

Several institutional investors and hedge funds have recently bought and sold shares of EW. Canada Pension Plan Investment Board boosted its position in Edwards Lifesciences by 80.1% during the fourth quarter. Canada Pension Plan Investment Board now owns 762,740 shares of the medical research company’s stock worth $56,466,000 after purchasing an additional 339,299 shares during the period. GKV Capital Management Co. Inc. acquired a new stake in shares of Edwards Lifesciences during the 4th quarter worth about $910,000. Marshall Wace LLP boosted its holdings in shares of Edwards Lifesciences by 55.7% during the 4th quarter. Marshall Wace LLP now owns 5,813,419 shares of the medical research company’s stock worth $430,367,000 after buying an additional 2,079,642 shares during the period. NewEdge Advisors LLC grew its stake in Edwards Lifesciences by 16.3% in the 4th quarter. NewEdge Advisors LLC now owns 104,650 shares of the medical research company’s stock valued at $7,747,000 after buying an additional 14,683 shares during the last quarter. Finally, United Capital Financial Advisors LLC raised its holdings in Edwards Lifesciences by 64.8% in the 4th quarter. United Capital Financial Advisors LLC now owns 24,859 shares of the medical research company’s stock valued at $1,840,000 after acquiring an additional 9,779 shares during the period. 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.