StockNews.com Downgrades Edwards Lifesciences (NYSE:EW) to Hold

Edwards Lifesciences (NYSE:EWGet Rating) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

Several other analysts also recently commented on the company. UBS Group raised Edwards Lifesciences from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $121.00 to $126.00 in a research note on Wednesday, February 2nd. Piper Sandler lowered their price objective on Edwards Lifesciences from $133.00 to $125.00 in a research note on Thursday, January 27th. Morgan Stanley lowered their price objective on Edwards Lifesciences from $148.00 to $136.00 and set an “overweight” rating for the company in a research note on Thursday, January 27th. Raymond James lowered their price objective on Edwards Lifesciences from $134.00 to $126.00 and set an “outperform” rating for the company in a research note on Thursday, January 27th. Finally, Truist Financial started coverage on Edwards Lifesciences in a research note on Tuesday. They issued a “buy” rating and a $145.00 price objective for the company. Five analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $127.52.

Shares of Edwards Lifesciences stock opened at $120.02 on Friday. Edwards Lifesciences has a one year low of $86.45 and a one year high of $131.73. The firm has a market capitalization of $74.57 billion, a price-to-earnings ratio of 50.22, a PEG ratio of 3.42 and a beta of 1.15. The business has a 50-day simple moving average of $112.40 and a 200 day simple moving average of $115.02. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.08 and a quick ratio of 2.38.

Edwards Lifesciences (NYSE:EWGet Rating) last issued its earnings results on Wednesday, January 26th. The medical research company reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.04). Edwards Lifesciences had a net margin of 28.73% and a return on equity of 26.53%. The firm had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.34 billion. During the same period in the previous year, the firm earned $0.50 earnings per share. On average, sell-side analysts expect that Edwards Lifesciences will post 2.56 EPS for the current year.

In related news, VP Donald E. Bobo, Jr. sold 11,050 shares of Edwards Lifesciences stock in a transaction on Friday, April 8th. The stock was sold at an average price of $123.34, for a total transaction of $1,362,907.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Catherine M. Szyman sold 20,000 shares of Edwards Lifesciences stock in a transaction on Monday, April 11th. The shares were sold at an average price of $122.04, for a total value of $2,440,800.00. Following the sale, the vice president now directly owns 27,569 shares of the company’s stock, valued at approximately $3,364,520.76. The disclosure for this sale can be found here. Insiders sold 216,859 shares of company stock valued at $24,110,684 over the last ninety days. Corporate insiders own 1.29% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. CX Institutional raised its position in Edwards Lifesciences by 7.7% during the third quarter. CX Institutional now owns 1,243 shares of the medical research company’s stock valued at $141,000 after purchasing an additional 89 shares in the last quarter. Wade G W & Inc. raised its position in Edwards Lifesciences by 0.7% during the third quarter. Wade G W & Inc. now owns 13,761 shares of the medical research company’s stock valued at $1,558,000 after purchasing an additional 98 shares in the last quarter. Midwest Professional Planners LTD. raised its position in Edwards Lifesciences by 0.5% during the fourth quarter. Midwest Professional Planners LTD. now owns 21,563 shares of the medical research company’s stock valued at $2,793,000 after purchasing an additional 105 shares in the last quarter. McIlrath & Eck LLC raised its position in Edwards Lifesciences by 7.2% during the fourth quarter. McIlrath & Eck LLC now owns 1,584 shares of the medical research company’s stock valued at $205,000 after purchasing an additional 106 shares in the last quarter. Finally, Pinnacle Bancorp Inc. raised its position in Edwards Lifesciences by 18.6% during the first quarter. Pinnacle Bancorp Inc. now owns 701 shares of the medical research company’s stock valued at $83,000 after purchasing an additional 110 shares in the last quarter. Institutional investors and hedge funds own 81.91% of the company’s stock.

Edwards Lifesciences Company Profile (Get Rating)

Edwards Lifesciences Corporation provides products and technologies for structural heart disease, and critical care and surgical monitoring in the United States, Europe, Japan, and internationally. It offers transcatheter heart valve replacement products for the minimally invasive replacement of heart valves; and transcatheter heart valve repair and replacement products to treat mitral and tricuspid valve diseases.

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