Morgan Stanley Raises Edwards Lifesciences (NYSE:EW) Price Target to $103.00

Edwards Lifesciences (NYSE:EWGet Free Report) had its price objective lifted by stock analysts at Morgan Stanley from $95.00 to $103.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm presently has an “overweight” rating on the medical research company’s stock. Morgan Stanley’s target price would indicate a potential upside of 9.82% from the stock’s current price.

Several other research firms also recently commented on EW. Mizuho raised their price objective on Edwards Lifesciences from $85.00 to $95.00 and gave the stock a “buy” rating in a report on Wednesday, February 7th. Wolfe Research downgraded Edwards Lifesciences from a “peer perform” rating to an “underperform” rating and set a $57.00 price objective on the stock. in a report on Tuesday, November 28th. Wells Fargo & Company upgraded Edwards Lifesciences from an “equal weight” rating to an “overweight” rating and set a $94.00 price target on the stock in a report on Friday, February 2nd. Royal Bank of Canada lifted their price target on Edwards Lifesciences from $82.00 to $95.00 and gave the company an “outperform” rating in a report on Wednesday, February 7th. Finally, Oppenheimer lifted their price target on Edwards Lifesciences from $93.00 to $100.00 and gave the company an “outperform” rating in a report on Monday, March 18th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $88.50.

Check Out Our Latest Analysis on Edwards Lifesciences

Edwards Lifesciences Stock Down 0.9 %

EW opened at $93.79 on Thursday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.40 and a current ratio of 3.38. Edwards Lifesciences has a fifty-two week low of $60.57 and a fifty-two week high of $95.27. The firm’s fifty day moving average is $84.31 and its 200 day moving average is $75.49. The stock has a market cap of $56.40 billion, a price-to-earnings ratio of 40.78, a price-to-earnings-growth ratio of 4.61 and a beta of 1.05.

Edwards Lifesciences (NYSE:EWGet Free Report) last posted its quarterly earnings data on Tuesday, February 6th. The medical research company reported $0.64 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.64. Edwards Lifesciences had a return on equity of 23.56% and a net margin of 23.35%. The business had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.50 billion. During the same period last year, the company earned $0.64 EPS. The company’s revenue for the quarter was up 13.3% on a year-over-year basis. On average, sell-side analysts forecast that Edwards Lifesciences will post 2.76 earnings per share for the current fiscal year.

Insider Transactions at Edwards Lifesciences

In other Edwards Lifesciences news, CFO Scott B. Ullem sold 14,510 shares of the stock in a transaction dated Friday, December 29th. The shares were sold at an average price of $76.55, for a total value of $1,110,740.50. Following the completion of the transaction, the chief financial officer now directly owns 19,248 shares of the company’s stock, valued at $1,473,434.40. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, VP Daniel J. Lippis sold 1,715 shares of Edwards Lifesciences stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $90.98, for a total transaction of $156,030.70. Following the transaction, the vice president now owns 17,213 shares in the company, valued at approximately $1,566,038.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Scott B. Ullem sold 14,510 shares of Edwards Lifesciences stock in a transaction on Friday, December 29th. The stock was sold at an average price of $76.55, for a total transaction of $1,110,740.50. Following the sale, the chief financial officer now directly owns 19,248 shares in the company, valued at approximately $1,473,434.40. The disclosure for this sale can be found here. Over the last quarter, insiders sold 196,859 shares of company stock worth $16,445,296. Company insiders own 1.29% of the company’s stock.

Institutional Investors Weigh In On Edwards Lifesciences

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Accent Capital Management LLC acquired a new stake in shares of Edwards Lifesciences in the 4th quarter valued at about $308,000. Cove Private Wealth LLC acquired a new stake in shares of Edwards Lifesciences in the 4th quarter valued at about $974,000. Vanguard Group Inc. raised its stake in shares of Edwards Lifesciences by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 52,363,400 shares of the medical research company’s stock valued at $3,992,709,000 after purchasing an additional 729,984 shares in the last quarter. Wahed Invest LLC raised its stake in shares of Edwards Lifesciences by 6.5% in the 4th quarter. Wahed Invest LLC now owns 10,105 shares of the medical research company’s stock valued at $771,000 after purchasing an additional 618 shares in the last quarter. Finally, Willner & Heller LLC acquired a new stake in shares of Edwards Lifesciences in the 4th quarter valued at about $430,000. Hedge funds and other institutional investors own 79.25% of the company’s stock.

Edwards Lifesciences Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Edwards Lifesciences (NYSE:EW)

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