Edwards Lifesciences (NYSE:EW) Stock Rating Upgraded by Daiwa America

Daiwa America upgraded shares of Edwards Lifesciences (NYSE:EW) to a strong-buy rating in a research report report published on Wednesday morning, Zacks.com reports.

A number of other equities research analysts also recently issued reports on the stock. Piper Sandler reduced their price target on shares of Edwards Lifesciences from $88.00 to $73.00 and set a neutral rating on the stock in a research note on Thursday, July 25th. TD Cowen downgraded shares of Edwards Lifesciences from a buy rating to a hold rating and reduced their price target for the company from $100.00 to $70.00 in a research note on Thursday, July 25th. StockNews.com downgraded shares of Edwards Lifesciences from a buy rating to a hold rating in a research note on Thursday, July 25th. JPMorgan Chase & Co. downgraded shares of Edwards Lifesciences from an overweight rating to a neutral rating and cut their target price for the stock from $105.00 to $72.00 in a research note on Thursday, July 25th. Finally, Robert W. Baird downgraded shares of Edwards Lifesciences from an outperform rating to a neutral rating and cut their target price for the stock from $102.00 to $70.00 in a research note on Thursday, July 25th. Fourteen research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Edwards Lifesciences presently has an average rating of Moderate Buy and a consensus price target of $82.10.

Edwards Lifesciences Stock Down 1.7 %

EW stock opened at $60.83 on Wednesday. The stock has a market capitalization of $36.64 billion, a P/E ratio of 26.22, a P/E/G ratio of 2.57 and a beta of 1.11. The firm has a 50-day simple moving average of $85.32 and a 200-day simple moving average of $86.49. The company has a quick ratio of 2.87, a current ratio of 3.71 and a debt-to-equity ratio of 0.08. Edwards Lifesciences has a 52 week low of $58.93 and a 52 week high of $96.12.

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

Insider Activity

In other Edwards Lifesciences news, CEO Bernard J. Zovighian bought 580 shares of the company’s stock in a transaction on Monday, May 6th. The stock was purchased at an average cost of $85.74 per share, for a total transaction of $49,729.20. Following the acquisition, the chief executive officer now owns 3,268 shares of the company’s stock, valued at approximately $280,198.32. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Bernard J. Zovighian purchased 580 shares of the stock in a transaction dated Monday, May 6th. The stock was acquired at an average cost of $85.74 per share, for a total transaction of $49,729.20. Following the completion of the acquisition, the chief executive officer now directly owns 3,268 shares in the company, valued at approximately $280,198.32. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Scott B. Ullem sold 5,625 shares of Edwards Lifesciences stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $90.45, for a total transaction of $508,781.25. Following the sale, the chief financial officer now owns 30,561 shares of the company’s stock, valued at $2,764,242.45. The disclosure for this sale can be found here. Insiders sold 30,099 shares of company stock worth $2,680,879 in the last 90 days. 1.29% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Edwards Lifesciences

Hedge funds have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC lifted its position in Edwards Lifesciences by 4.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 330,711 shares of the medical research company’s stock valued at $31,603,000 after buying an additional 14,087 shares in the last quarter. Empowered Funds LLC lifted its position in Edwards Lifesciences by 151.2% during the first quarter. Empowered Funds LLC now owns 20,123 shares of the medical research company’s stock valued at $1,923,000 after buying an additional 12,112 shares in the last quarter. Telos Capital Management Inc. raised its stake in shares of Edwards Lifesciences by 158.2% during the fourth quarter. Telos Capital Management Inc. now owns 91,405 shares of the medical research company’s stock valued at $6,970,000 after purchasing an additional 56,000 shares during the period. Arlington Trust Co LLC raised its stake in shares of Edwards Lifesciences by 5,092.4% during the fourth quarter. Arlington Trust Co LLC now owns 12,306 shares of the medical research company’s stock valued at $938,000 after purchasing an additional 12,069 shares during the period. Finally, HealthInvest Partners AB purchased a new stake in shares of Edwards Lifesciences during the fourth quarter valued at approximately $1,587,000. 79.46% of the stock is owned by institutional investors and hedge funds.

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.