Edwards Lifesciences (NYSE:EW) Stock Rating Lowered by TD Cowen

TD Cowen cut shares of Edwards Lifesciences (NYSE:EW) from a buy rating to a hold rating in a research report sent to investors on Thursday, Marketbeat Ratings reports. TD Cowen currently has $70.00 price target on the medical research company’s stock, down from their prior price target of $100.00.

A number of other equities research analysts have also commented on the company. Evercore ISI lowered their price target on Edwards Lifesciences from $91.00 to $76.00 and set an in-line rating for the company in a research report on Thursday. The Goldman Sachs Group began coverage on Edwards Lifesciences in a research report on Thursday, May 30th. They issued a buy rating and a $107.00 price target for the company. Truist Financial lowered Edwards Lifesciences from a buy rating to a hold rating and lowered their price target for the company from $110.00 to $82.00 in a research report on Thursday. Wells Fargo & Company increased their price target on Edwards Lifesciences from $94.00 to $99.00 and gave the company an overweight rating in a research report on Friday, April 26th. Finally, Bank of America lowered Edwards Lifesciences from a buy rating to a neutral rating and lowered their price target for the company from $105.00 to $75.00 in a research report on Thursday. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of Hold and an average price target of $82.10.

Edwards Lifesciences Price Performance

Shares of EW opened at $62.37 on Thursday. Edwards Lifesciences has a 12-month low of $58.93 and a 12-month high of $96.12. The business’s fifty day moving average is $87.98 and its 200 day moving average is $86.99. The company has a quick ratio of 2.67, a current ratio of 3.71 and a debt-to-equity ratio of 0.08. The stock has a market cap of $37.58 billion, a P/E ratio of 26.88, a P/E/G ratio of 2.31 and a beta of 1.11.

Edwards Lifesciences (NYSE:EW) last issued its earnings results on Wednesday, July 24th. The medical research company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.01. The company had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.65 billion. Edwards Lifesciences had a return on equity of 22.35% and a net margin of 24.55%. Edwards Lifesciences’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same period last year, the business earned $0.66 EPS. Sell-side analysts anticipate that Edwards Lifesciences will post 2.71 earnings per share for the current fiscal year.

Insider Transactions at Edwards Lifesciences

In other news, VP Donald E. Bobo, Jr. sold 5,000 shares of the stock in a transaction on Wednesday, July 10th. The stock was sold at an average price of $93.29, for a total transaction of $466,450.00. Following the completion of the transaction, the vice president now owns 46,936 shares in the company, valued at approximately $4,378,659.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Edwards Lifesciences news, VP Donald E. Bobo, Jr. sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $93.29, for a total value of $466,450.00. Following the completion of the transaction, the vice president now owns 46,936 shares in the company, valued at approximately $4,378,659.44. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Bernard J. Zovighian bought 580 shares of the business’s stock in a transaction on Monday, May 6th. The stock was bought at an average price of $85.74 per share, with a total value of $49,729.20. Following the purchase, the chief executive officer now owns 3,268 shares in the company, valued at $280,198.32. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 81,099 shares of company stock worth $7,003,553. 1.29% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. DSM Capital Partners LLC bought a new stake in shares of Edwards Lifesciences during the 4th quarter valued at about $28,000. Crewe Advisors LLC bought a new stake in shares of Edwards Lifesciences during the 1st quarter valued at about $28,000. First Community Trust NA bought a new stake in shares of Edwards Lifesciences during the 2nd quarter valued at about $29,000. Turtle Creek Wealth Advisors LLC bought a new stake in shares of Edwards Lifesciences during the 4th quarter valued at about $34,000. Finally, Riverview Trust Co bought a new stake in shares of Edwards Lifesciences during the 1st quarter valued at about $34,000. 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.