Edwards Lifesciences (NYSE:EW) PT Lowered to $80.00 at Wells Fargo & Company

Edwards Lifesciences (NYSE:EW) had its price target cut by Wells Fargo & Company from $90.00 to $80.00 in a report published on Monday morning, Benzinga reports. They currently have an overweight rating on the medical research company’s stock.

EW has been the subject of several other reports. Royal Bank of Canada cut their price target on Edwards Lifesciences from $101.00 to $85.00 and set an outperform rating for the company in a report on Thursday, July 25th. Barclays dropped their target price on Edwards Lifesciences from $101.00 to $90.00 and set an overweight rating for the company in a research note on Friday, July 26th. Deutsche Bank Aktiengesellschaft decreased their price target on Edwards Lifesciences from $103.00 to $85.00 and set a buy rating on the stock in a research note on Thursday, July 25th. Oppenheimer lowered their price target on Edwards Lifesciences from $100.00 to $90.00 and set an outperform rating for the company in a report on Thursday, July 25th. Finally, TD Cowen lowered shares of Edwards Lifesciences from a buy rating to a hold rating and cut their price objective for the stock from $100.00 to $70.00 in a report on Thursday, July 25th. Fifteen analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of Hold and an average price target of $80.81.

Edwards Lifesciences Stock Up 1.7 %

EW opened at $68.25 on Monday. The business’s fifty day simple moving average is $73.32 and its 200 day simple moving average is $83.72. Edwards Lifesciences has a 52 week low of $58.93 and a 52 week high of $96.12. The firm has a market cap of $41.11 billion, a P/E ratio of 29.42, a PEG ratio of 2.79 and a beta of 1.13. 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 (NYSE:EW) last released its quarterly earnings results on Wednesday, July 24th. The medical research company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate 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 net margin of 24.55% and a return on equity of 22.35%. The firm’s revenue for the quarter was up 6.7% compared to the same quarter last year. During the same period last year, the company earned $0.66 EPS. As a group, equities research analysts anticipate that Edwards Lifesciences will post 2.7 EPS for the current fiscal year.

Insider Activity at Edwards Lifesciences

In other news, VP Donald E. Bobo, Jr. sold 5,000 shares of the business’s stock in a transaction on 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Edwards Lifesciences news, VP Daveen Chopra sold 1,250 shares of Edwards Lifesciences stock in a transaction that occurred 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 sale, 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 Securities & Exchange Commission, which is available through the SEC website. Also, VP Donald E. Bobo, Jr. sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 10th. The shares were 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 directly owns 46,936 shares in the company, valued at $4,378,659.44. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 16,250 shares of company stock worth $1,218,138. 1.29% of the stock is currently owned by company insiders.

Institutional Trading of Edwards Lifesciences

Several institutional investors have recently added to or reduced their stakes in EW. DSM Capital Partners LLC acquired a new stake in Edwards Lifesciences during the fourth quarter valued at approximately $28,000. Crewe Advisors LLC acquired a new stake in shares of Edwards Lifesciences during the 1st quarter valued at approximately $28,000. First Community Trust NA bought a new position in Edwards Lifesciences during the second quarter worth $29,000. Riverview Trust Co acquired a new position in Edwards Lifesciences in the first quarter worth $34,000. Finally, Pingora Partners LLC bought a new stake in Edwards Lifesciences during the fourth quarter valued at $38,000. 79.46% of the stock is owned by institutional investors and hedge funds.

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.