Edwards Lifesciences’ (EW) “Outperform” Rating Reaffirmed at Royal Bank of Canada

Royal Bank of Canada reaffirmed their outperform rating on shares of Edwards Lifesciences (NYSE:EW) in a research note released on Wednesday,Benzinga reports. Royal Bank of Canada currently has a $85.00 price target on the medical research company’s stock.

A number of other brokerages have also commented on EW. Canaccord Genuity Group boosted their price target on Edwards Lifesciences from $63.00 to $68.00 and gave the company a “hold” rating in a report on Thursday, December 5th. Truist Financial reaffirmed a “hold” rating and set a $78.00 price target (up from $70.00) on shares of Edwards Lifesciences in a research note on Thursday, December 5th. Sanford C. Bernstein raised shares of Edwards Lifesciences from a “strong sell” rating to a “hold” rating in a research report on Monday, October 28th. Robert W. Baird decreased their target price on shares of Edwards Lifesciences from $73.00 to $68.00 and set a “neutral” rating for the company in a research report on Friday, October 25th. Finally, Barclays lifted their price target on shares of Edwards Lifesciences from $85.00 to $88.00 and gave the company an “overweight” rating in a research note on Monday, December 2nd. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $79.71.

Edwards Lifesciences Price Performance

Shares of EW opened at $75.83 on Wednesday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.89 and a current ratio of 3.46. The firm has a market capitalization of $44.72 billion, a PE ratio of 10.94, a P/E/G ratio of 3.64 and a beta of 1.10. The stock has a 50 day simple moving average of $72.47 and a 200 day simple moving average of $69.32. Edwards Lifesciences has a 52-week low of $58.93 and a 52-week high of $96.12.

Edwards Lifesciences (NYSE:EW) last released its quarterly 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 net margin of 70.82% and a return on equity of 20.76%. Sell-side analysts predict that Edwards Lifesciences will post 2.56 EPS for the current fiscal year.

Insider Activity

In other news, VP Daniel J. Lippis sold 2,500 shares of the business’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $74.08, for a total value 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. The trade was a 9.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.29% of the stock is owned by company insiders.

Institutional Trading of Edwards Lifesciences

A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in shares of Edwards Lifesciences by 10.4% during the 4th quarter. Vanguard Group Inc. now owns 69,132,036 shares of the medical research company’s stock worth $5,117,845,000 after purchasing an additional 6,537,494 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of Edwards Lifesciences by 5.3% in the 4th quarter. Wellington Management Group LLP now owns 33,210,879 shares of the medical research company’s stock valued at $2,458,601,000 after purchasing an additional 1,678,154 shares in the last quarter. State Street Corp grew its stake in shares of Edwards Lifesciences by 1.0% during the third quarter. State Street Corp now owns 26,265,633 shares of the medical research company’s stock worth $1,733,270,000 after buying an additional 256,538 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Edwards Lifesciences by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 13,647,341 shares of the medical research company’s stock worth $1,007,520,000 after buying an additional 126,194 shares in the last quarter. Finally, Fisher Asset Management LLC boosted its holdings in shares of Edwards Lifesciences by 7.7% during the 4th quarter. Fisher Asset Management LLC now owns 9,775,276 shares of the medical research company’s stock valued at $723,664,000 after acquiring an additional 696,965 shares in the last quarter. 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.