Edwards Lifesciences (NYSE:EW) Downgraded by Wells Fargo & Company to Equal Weight

Wells Fargo & Company downgraded shares of Edwards Lifesciences (NYSE:EW – Get Rating) from an overweight rating to an equal weight rating in a research report released on Wednesday morning, MarketBeat reports. The brokerage currently has $78.00 price objective on the medical research company’s stock, down from their prior price objective of $97.00.

A number of other analysts also recently commented on EW. Truist Financial upped their target price on Edwards Lifesciences from $85.00 to $86.00 and gave the stock a buy rating in a research note on Wednesday, February 1st. Canaccord Genuity Group cut their target price on shares of Edwards Lifesciences from $78.00 to $73.00 and set a hold rating for the company in a report on Monday, December 12th. Wolfe Research downgraded shares of Edwards Lifesciences from an outperform rating to a market perform rating in a report on Thursday, December 1st. Piper Sandler downgraded shares of Edwards Lifesciences from an overweight rating to a neutral rating and decreased their price objective for the stock from $95.00 to $80.00 in a research report on Monday, January 30th. Finally, Royal Bank of Canada decreased their price objective on shares of Edwards Lifesciences from $118.00 to $105.00 and set an outperform rating for the company in a research report on Monday, November 28th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of Hold and a consensus target price of $88.95.

Edwards Lifesciences Price Performance

Shares of NYSE EW opened at $77.27 on Wednesday. Edwards Lifesciences has a 52 week low of $67.13 and a 52 week high of $131.10. The business’s 50 day moving average price is $77.95 and its 200 day moving average price is $80.13. The company has a quick ratio of 2.17, a current ratio of 3.03 and a debt-to-equity ratio of 0.10. The firm has a market cap of $47.00 billion, a P/E ratio of 31.67, a P/E/G ratio of 4.59 and a beta of 1.01.

Edwards Lifesciences (NYSE:EW – Get Rating) last released its quarterly earnings data on Tuesday, January 31st. The medical research company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.61 by $0.03. Edwards Lifesciences had a net margin of 28.27% and a return on equity of 26.05%. The business had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.33 billion. During the same period in the prior year, the firm earned $0.51 EPS. The business’s revenue for the quarter was up 1.5% on a year-over-year basis. On average, sell-side analysts expect that Edwards Lifesciences will post 2.52 earnings per share for the current year.

Insider Buying and Selling

In other Edwards Lifesciences news, VP Jean-Luc M. Lemercier sold 6,640 shares of the firm’s stock in a transaction that occurred on Wednesday, March 8th. The shares were sold at an average price of $76.96, for a total value of $511,014.40. Following the transaction, the vice president now directly owns 168,875 shares of the company’s stock, valued at approximately $12,996,620. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Edwards Lifesciences news, VP Daveen Chopra sold 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 15th. The shares were sold at an average price of $74.80, for a total value of $299,200.00. Following the transaction, the vice president now directly owns 18,911 shares of the company’s stock, valued at approximately $1,414,542.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Jean-Luc M. Lemercier sold 6,640 shares of the firm’s stock in a transaction that occurred on Wednesday, March 8th. The stock was sold at an average price of $76.96, for a total transaction of $511,014.40. Following the completion of the transaction, the vice president now directly owns 168,875 shares in the company, valued at $12,996,620. The disclosure for this sale can be found here. Insiders sold a total of 108,111 shares of company stock worth $8,333,879 in the last 90 days. Insiders own 1.29% of the company’s stock.

Institutional Trading of Edwards Lifesciences

Institutional investors have recently made changes to their positions in the company. Bogart Wealth LLC purchased a new stake in shares of Edwards Lifesciences during the 3rd quarter valued at approximately $25,000. MV Capital Management Inc. raised its position in shares of Edwards Lifesciences by 74.1% during the 3rd quarter. MV Capital Management Inc. now owns 329 shares of the medical research company’s stock valued at $27,000 after buying an additional 140 shares during the period. Trifecta Capital Advisors LLC purchased a new stake in shares of Edwards Lifesciences during the 4th quarter valued at approximately $28,000. Addison Advisors LLC raised its position in shares of Edwards Lifesciences by 708.0% during the 4th quarter. Addison Advisors LLC now owns 404 shares of the medical research company’s stock valued at $30,000 after buying an additional 354 shares during the period. Finally, Compass Wealth Management LLC purchased a new stake in shares of Edwards Lifesciences during the 4th quarter valued at approximately $31,000. Hedge funds and other institutional investors own 80.35% of the company’s stock.

Edwards Lifesciences Company Profile

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Edwards Lifesciences Corp. engages in patient-focused medical innovations for heart disease and critical care monitoring. Its products are categorized into four main areas: Transcatheter Aortic Valve Replacement, Transcatheter Mitral and Tricuspid Therapies, Surgical Structural Heart, and Critical Care.