Edwards Lifesciences Co. (NYSE:EW) Receives $82.10 Average PT from Analysts

Shares of Edwards Lifesciences Co. (NYSE:EW) have been given an average recommendation of “Moderate Buy” by the twenty-six ratings firms that are covering the firm, Marketbeat.com reports. Fourteen investment analysts have rated the stock with a hold recommendation, eleven have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among brokers that have covered the stock in the last year is $80.81.

Several brokerages have recently issued reports on EW. Oppenheimer reduced their price objective on Edwards Lifesciences from $100.00 to $90.00 and set an “outperform” rating for the company in a research note on Thursday, July 25th. Daiwa Capital Markets upgraded shares of Edwards Lifesciences from a “neutral” rating to an “outperform” rating in a research note on Wednesday, July 31st. Bank of America lowered shares of Edwards Lifesciences from a “buy” rating to a “neutral” rating and dropped their price target for the company from $105.00 to $75.00 in a research report on Thursday, July 25th. Piper Sandler decreased their price objective on shares of Edwards Lifesciences from $88.00 to $73.00 and set a “neutral” rating for the company in a research report on Thursday, July 25th. Finally, Stifel Nicolaus dropped their target price on Edwards Lifesciences from $85.00 to $70.00 and set a “hold” rating on the stock in a research report on Thursday, July 25th.

Edwards Lifesciences Stock Performance

EW stock opened at $67.15 on Friday. Edwards Lifesciences has a 1-year low of $58.93 and a 1-year high of $96.12. The business has a 50-day moving average price of $73.78 and a 200 day moving average price of $83.83. The company has a market capitalization of $40.45 billion, a P/E ratio of 28.94, a PEG ratio of 2.79 and a beta of 1.13. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.71 and a quick ratio of 2.87.

Edwards Lifesciences (NYSE:EW) last posted its quarterly earnings results on Wednesday, July 24th. The medical research company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.69 by $0.01. Edwards Lifesciences had a net margin of 24.55% and a return on equity of 22.35%. The business had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.65 billion. During the same quarter in the previous year, the business posted $0.66 EPS. The company’s quarterly revenue was up 6.7% compared to the same quarter last year. As a group, equities research analysts forecast that Edwards Lifesciences will post 2.7 EPS for the current fiscal year.

Insiders Place Their Bets

In other Edwards Lifesciences news, VP Donald E. Bobo, Jr. sold 5,000 shares of Edwards Lifesciences stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $93.29, for a total transaction of $466,450.00. Following the transaction, the vice president now directly owns 46,936 shares of the company’s stock, valued at $4,378,659.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, VP Daveen Chopra sold 1,250 shares of the stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $69.95, for a total transaction of $87,437.50. Following the completion of the transaction, the vice president now directly owns 29,333 shares in the company, valued at approximately $2,051,843.35. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Donald E. Bobo, Jr. sold 5,000 shares of the business’s stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $93.29, for a total transaction of $466,450.00. Following the completion of the sale, the vice president now owns 46,936 shares in the company, valued at $4,378,659.44. The disclosure for this sale can be found here. Insiders sold 11,250 shares of company stock valued at $884,288 in the last three months. 1.29% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Edwards Lifesciences

A number of institutional investors have recently made changes to their positions in EW. Park Avenue Securities LLC increased its holdings in Edwards Lifesciences by 0.5% in the 2nd quarter. Park Avenue Securities LLC now owns 23,484 shares of the medical research company’s stock valued at $2,169,000 after purchasing an additional 108 shares during the last quarter. City State Bank lifted its stake in Edwards Lifesciences by 16.5% during the 2nd quarter. City State Bank now owns 917 shares of the medical research company’s stock worth $85,000 after acquiring an additional 130 shares in the last quarter. Chapin Davis Inc. boosted its holdings in Edwards Lifesciences by 1.7% during the 1st quarter. Chapin Davis Inc. now owns 8,548 shares of the medical research company’s stock valued at $817,000 after acquiring an additional 140 shares during the period. Johnson Financial Group Inc. grew its position in Edwards Lifesciences by 23.0% in the 4th quarter. Johnson Financial Group Inc. now owns 771 shares of the medical research company’s stock valued at $59,000 after acquiring an additional 144 shares in the last quarter. Finally, Valley National Advisers Inc. grew its position in Edwards Lifesciences by 6.0% in the 1st quarter. Valley National Advisers Inc. now owns 2,677 shares of the medical research company’s stock valued at $255,000 after acquiring an additional 152 shares in the last quarter. 79.46% of the stock is currently 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.