Royal Bank of Canada Raises Edwards Lifesciences (NYSE:EW) Price Target to $101.00

Edwards Lifesciences (NYSE:EW) had its target price increased by Royal Bank of Canada from $95.00 to $101.00 in a research note published on Monday, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the medical research company’s stock.

A number of other equities research analysts have also recently issued reports on EW. Morgan Stanley raised their target price on Edwards Lifesciences from $95.00 to $103.00 and gave the company an overweight rating in a research note on Thursday, March 21st. Wells Fargo & Company upgraded Edwards Lifesciences from an equal weight rating to an overweight rating and set a $94.00 target price on the stock in a research note on Friday, February 2nd. Citigroup raised their target price on Edwards Lifesciences from $90.00 to $98.00 and gave the company a neutral rating in a research note on Wednesday, April 3rd. Stifel Nicolaus raised their target price on Edwards Lifesciences from $70.00 to $83.00 and gave the company a hold rating in a research note on Wednesday, February 7th. Finally, Oppenheimer raised their target price on Edwards Lifesciences from $93.00 to $100.00 and gave the company an outperform rating in a research note on Monday, March 18th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, Edwards Lifesciences presently has an average rating of Moderate Buy and a consensus target price of $91.73.

Edwards Lifesciences Stock Performance

Shares of EW opened at $89.20 on Monday. The business’s fifty day moving average price is $90.07 and its 200 day moving average price is $77.92. Edwards Lifesciences has a 12-month low of $60.57 and a 12-month high of $96.12. The stock has a market capitalization of $53.69 billion, a PE ratio of 38.78, a price-to-earnings-growth ratio of 4.47 and a beta of 1.05. The company has a debt-to-equity ratio of 0.09, a current ratio of 3.38 and a quick ratio of 2.40.

Edwards Lifesciences (NYSE:EW) last announced its quarterly earnings data on Tuesday, February 6th. The medical research company reported $0.64 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.64. The firm had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.50 billion. Edwards Lifesciences had a return on equity of 23.56% and a net margin of 23.35%. The firm’s revenue for the quarter was up 13.3% on a year-over-year basis. During the same period last year, the business posted $0.64 earnings per share. Equities research analysts forecast that Edwards Lifesciences will post 2.76 EPS for the current year.

Insider Buying and Selling

In related news, CFO Scott B. Ullem sold 7,255 shares of Edwards Lifesciences stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $94.89, for a total transaction of $688,426.95. Following the transaction, the chief financial officer now directly owns 19,074 shares of the company’s stock, valued at $1,809,931.86. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CFO Scott B. Ullem sold 7,255 shares of Edwards Lifesciences stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $94.89, for a total transaction of $688,426.95. Following the transaction, the chief financial officer now directly owns 19,074 shares of the company’s stock, valued at $1,809,931.86. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Jean-Luc M. Lemercier sold 14,400 shares of Edwards Lifesciences stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $92.32, for a total value of $1,329,408.00. Following the completion of the transaction, the vice president now directly owns 173,849 shares in the company, valued at approximately $16,049,739.68. The disclosure for this sale can be found here. Insiders have sold a total of 194,004 shares of company stock valued at $17,166,254 over the last three months. Company insiders own 1.29% of the company’s stock.

Institutional Trading of Edwards Lifesciences

Institutional investors and hedge funds have recently bought and sold shares of the stock. Nordea Investment Management AB raised its holdings in Edwards Lifesciences by 1,224.1% during the 4th quarter. Nordea Investment Management AB now owns 1,610,412 shares of the medical research company’s stock worth $123,261,000 after buying an additional 1,488,791 shares during the period. Arlington Trust Co LLC raised its holdings in Edwards Lifesciences by 5,092.4% during the 4th quarter. Arlington Trust Co LLC now owns 12,306 shares of the medical research company’s stock worth $938,000 after buying an additional 12,069 shares during the period. Versor Investments LP raised its holdings in Edwards Lifesciences by 83.3% during the 3rd quarter. Versor Investments LP now owns 4,496 shares of the medical research company’s stock worth $311,000 after buying an additional 2,043 shares during the period. Gateway Investment Advisers LLC raised its holdings in Edwards Lifesciences by 12.2% during the 4th quarter. Gateway Investment Advisers LLC now owns 253,337 shares of the medical research company’s stock worth $19,317,000 after buying an additional 27,519 shares during the period. Finally, US Bancorp DE grew its stake in Edwards Lifesciences by 0.6% during the 3rd quarter. US Bancorp DE now owns 850,257 shares of the medical research company’s stock valued at $58,906,000 after acquiring an additional 5,409 shares in the last quarter. Institutional investors and hedge funds own 79.46% of the company’s stock.

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.