Citigroup Raises Edwards Lifesciences (NYSE:EW) Price Target to $106.00

Edwards Lifesciences (NYSE:EWGet Free Report) had its price target hoisted by equities research analysts at Citigroup from $105.00 to $106.00 in a report released on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the medical research company’s stock. Citigroup’s price objective points to a potential upside of 13.03% from the company’s previous close.

A number of other equities research analysts have also recently commented on the company. The Goldman Sachs Group initiated coverage on Edwards Lifesciences in a research report on Thursday, May 30th. They set a “buy” rating and a $107.00 target price on the stock. Stifel Nicolaus raised their target price on Edwards Lifesciences from $83.00 to $85.00 and gave the company a “hold” rating in a research report on Friday, April 26th. Wells Fargo & Company raised their price target on shares of Edwards Lifesciences from $94.00 to $99.00 and gave the company an “overweight” rating in a research note on Friday, April 26th. Mizuho raised their price target on shares of Edwards Lifesciences from $95.00 to $105.00 and gave the company a “buy” rating in a research note on Thursday, April 11th. Finally, OTR Global raised shares of Edwards Lifesciences from a “mixed” rating to a “positive” rating in a research note on Tuesday, March 26th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Edwards Lifesciences currently has a consensus rating of “Moderate Buy” and an average target price of $95.24.

Read Our Latest Stock Report on EW

Edwards Lifesciences Price Performance

NYSE:EW opened at $93.78 on Wednesday. Edwards Lifesciences has a 52 week low of $60.57 and a 52 week high of $96.12. The company has a quick ratio of 2.67, a current ratio of 3.75 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $56.51 billion, a PE ratio of 40.42, a price-to-earnings-growth ratio of 3.36 and a beta of 1.11. The stock’s 50-day moving average price is $88.70 and its 200-day moving average price is $86.21.

Edwards Lifesciences (NYSE:EWGet Free Report) last posted its earnings results on Thursday, April 25th. The medical research company reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.02. Edwards Lifesciences had a return on equity of 22.86% and a net margin of 23.01%. The firm had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.58 billion. As a group, equities analysts expect that Edwards Lifesciences will post 2.77 EPS for the current fiscal year.

Insider Activity

In other news, CFO Scott B. Ullem sold 7,250 shares of Edwards Lifesciences stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $85.80, for a total transaction of $622,050.00. Following the sale, the chief financial officer now owns 19,074 shares of the company’s stock, valued at approximately $1,636,549.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, VP Jean-Luc M. Lemercier sold 14,400 shares of Edwards Lifesciences stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $84.21, for a total value of $1,212,624.00. Following the completion of the sale, the vice president now owns 173,849 shares in the company, valued at approximately $14,639,824.29. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Scott B. Ullem sold 7,250 shares of Edwards Lifesciences stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $85.80, for a total transaction of $622,050.00. Following the completion of the sale, the chief financial officer now owns 19,074 shares of the company’s stock, valued at approximately $1,636,549.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 81,099 shares of company stock valued at $7,003,553. 1.27% of the stock is currently owned by company insiders.

Institutional Trading of Edwards Lifesciences

Several institutional investors have recently added to or reduced their stakes in the stock. Norges Bank acquired a new position in shares of Edwards Lifesciences in the fourth quarter worth $648,540,000. Brown Advisory Inc. grew its stake in shares of 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 worth $1,386,333,000 after acquiring an additional 3,048,274 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Edwards Lifesciences by 57.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,516,260 shares of the medical research company’s stock worth $622,695,000 after acquiring an additional 2,390,137 shares in the last quarter. CIBC Private Wealth Group LLC grew its stake in shares of Edwards Lifesciences by 197.0% in the fourth quarter. CIBC Private Wealth Group LLC now owns 3,446,758 shares of the medical research company’s stock worth $262,815,000 after acquiring an additional 2,286,119 shares in the last quarter. Finally, AustralianSuper Pty Ltd acquired a new position in shares of Edwards Lifesciences in the fourth quarter worth $168,519,000. Institutional investors and hedge funds own 79.46% 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.

Featured Stories

Analyst Recommendations for Edwards Lifesciences (NYSE:EW)

Receive News & Ratings for Edwards Lifesciences Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Edwards Lifesciences and related companies with MarketBeat.com's FREE daily email newsletter.