Edwards Lifesciences Corporation (NYSE:EW) Given Consensus Rating of “Hold” by Brokerages

Shares of Edwards Lifesciences Corporation (NYSE:EW) have been assigned a consensus recommendation of “Hold” from the twenty-five research firms that are covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, thirteen have assigned a hold recommendation and eleven have given a buy recommendation to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $80.20.

EW has been the topic of several recent analyst reports. Citigroup reiterated a “buy” rating and set a $95.00 target price (up from $84.00) on shares of Edwards Lifesciences in a report on Thursday, May 22nd. Robert W. Baird boosted their price target on Edwards Lifesciences from $72.00 to $75.00 and gave the company a “neutral” rating in a report on Thursday, April 24th. Truist Financial cut their price target on Edwards Lifesciences from $78.00 to $75.00 and set a “hold” rating on the stock in a report on Friday, April 11th. Dbs Bank upgraded Edwards Lifesciences to a “hold” rating in a report on Monday, June 2nd. Finally, Canaccord Genuity Group boosted their price target on Edwards Lifesciences from $71.00 to $75.00 and gave the company a “hold” rating in a report on Friday, April 25th.

Edwards Lifesciences Stock Performance

EW stock opened at $77.03 on Thursday. The business’s 50-day moving average price is $76.07 and its two-hundred day moving average price is $73.24. The company has a current ratio of 4.45, a quick ratio of 3.66 and a debt-to-equity ratio of 0.06. The firm has a market cap of $45.19 billion, a PE ratio of 11.00, a P/E/G ratio of 3.89 and a beta of 1.11. Edwards Lifesciences has a 1-year low of $58.93 and a 1-year high of $95.25.

Edwards Lifesciences (NYSE:EW) last posted its earnings results on Wednesday, April 23rd. The medical research company reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.04. The firm had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.40 billion. Edwards Lifesciences had a return on equity of 16.62% and a net margin of 75.48%. The company’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.66 earnings per share. As a group, research analysts forecast that Edwards Lifesciences will post 2.45 earnings per share for the current year.

Insider Activity

In other news, CEO Bernard J. Zovighian sold 5,980 shares of the company’s stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $74.91, for a total value of $447,961.80. Following the transaction, the chief executive officer owned 58,284 shares of the company’s stock, valued at approximately $4,366,054.44. This represents a 9.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Larry L. Wood sold 8,950 shares of the company’s stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $75.23, for a total value of $673,308.50. Following the completion of the transaction, the insider directly owned 206,900 shares in the company, valued at $15,565,087. The trade was a 4.15% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 40,648 shares of company stock valued at $2,998,866. 1.29% of the stock is owned by insiders.

Hedge Funds Weigh In On Edwards Lifesciences

Several institutional investors and hedge funds have recently made changes to their positions in EW. Crowley Wealth Management Inc. acquired a new stake in Edwards Lifesciences during the fourth quarter worth approximately $26,000. Vega Investment Solutions acquired a new stake in Edwards Lifesciences during the fourth quarter worth approximately $27,000. Quantbot Technologies LP acquired a new stake in Edwards Lifesciences during the first quarter worth approximately $26,000. SouthState Corp acquired a new stake in Edwards Lifesciences during the first quarter worth approximately $27,000. Finally, Rossby Financial LCC acquired a new stake in Edwards Lifesciences during the first quarter worth approximately $29,000. Institutional investors and hedge funds 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.