Edwards Lifesciences (NYSE:EW) Price Target Lowered to $89.00 at Evercore ISI

Edwards Lifesciences (NYSE:EW) had its target price lowered by Evercore ISI from $92.00 to $89.00 in a research report report published on Friday morning, Benzinga reports. Evercore ISI currently has an in-line rating on the medical research company’s stock.

A number of other equities research analysts also recently issued reports on the stock. Royal Bank of Canada increased their price target on shares of Edwards Lifesciences from $95.00 to $101.00 and gave the stock an outperform rating in a report on Monday, April 15th. Citigroup increased their price target on shares of Edwards Lifesciences from $90.00 to $98.00 and gave the stock a neutral rating in a report on Wednesday, April 3rd. OTR Global raised shares of Edwards Lifesciences from a mixed rating to a positive rating in a research note on Tuesday, March 26th. Wells Fargo & Company raised shares of 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. Finally, Piper Sandler raised their target price on shares of Edwards Lifesciences from $85.00 to $88.00 and gave the company a neutral rating in a research note on Friday. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus target price of $92.71.

Edwards Lifesciences Price Performance

Shares of NYSE:EW opened at $86.43 on Friday. Edwards Lifesciences has a twelve month low of $60.57 and a twelve month high of $96.12. The firm has a market capitalization of $52.02 billion, a PE ratio of 37.25, a P/E/G ratio of 4.29 and a beta of 1.05. The company has a quick ratio of 2.40, a current ratio of 3.38 and a debt-to-equity ratio of 0.09. The company has a 50-day moving average price of $90.28 and a two-hundred day moving average price of $78.95.

Edwards Lifesciences (NYSE:EW) last announced its quarterly earnings results on Thursday, April 25th. The medical research company reported $0.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.02. Edwards Lifesciences had a net margin of 23.01% and a return on equity of 23.34%. The firm had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.58 billion. Equities analysts forecast that Edwards Lifesciences will post 2.76 EPS for the current year.

Insiders Place Their Bets

In other Edwards Lifesciences news, VP Jean-Luc M. Lemercier sold 14,400 shares of Edwards Lifesciences stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $92.32, for a total transaction of $1,329,408.00. Following the transaction, the vice president now directly owns 173,849 shares of the company’s stock, valued at $16,049,739.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Scott B. Ullem sold 7,255 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $78.29, for a total value of $567,993.95. Following the transaction, the chief financial officer now owns 19,248 shares in the company, valued at $1,506,925.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Jean-Luc M. Lemercier sold 14,400 shares of the firm’s stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $92.32, for a total transaction of $1,329,408.00. Following the completion of the transaction, the vice president now owns 173,849 shares in the company, valued at approximately $16,049,739.68. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 194,004 shares of company stock valued at $17,166,254. 1.29% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in EW. Vanguard Group Inc. boosted its holdings in Edwards Lifesciences by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 52,363,400 shares of the medical research company’s stock valued at $3,992,709,000 after acquiring an additional 729,984 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Edwards Lifesciences by 9.5% in the first quarter. Bank of New York Mellon Corp now owns 18,973,304 shares of the medical research company’s stock valued at $1,813,089,000 after acquiring an additional 1,644,869 shares in the last quarter. Brown Advisory Inc. boosted its holdings in Edwards Lifesciences by 20.1% in the fourth quarter. Brown Advisory Inc. now owns 18,181,420 shares of the medical research company’s stock valued at $1,386,333,000 after acquiring an additional 3,048,274 shares in the last quarter. Wellington Management Group LLP boosted its holdings in Edwards Lifesciences by 2.4% in the fourth quarter. Wellington Management Group LLP now owns 16,827,510 shares of the medical research company’s stock valued at $1,283,098,000 after acquiring an additional 393,109 shares in the last quarter. Finally, Norges Bank bought a new stake in Edwards Lifesciences in the fourth quarter valued at $648,540,000. Institutional investors own 79.46% of the company’s stock.

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.