Edwards Lifesciences (NYSE:EW) Price Target Raised to $77.00

Edwards Lifesciences (NYSE:EW) had its price objective increased by Evercore ISI from $73.00 to $77.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has an in-line rating on the medical research company’s stock.

Other research analysts also recently issued reports about the company. Citigroup reissued a “buy” rating and issued a $95.00 target price (up from $84.00) on shares of Edwards Lifesciences in a report on Thursday, May 22nd. Piper Sandler boosted their price objective on Edwards Lifesciences from $80.00 to $83.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 13th. Robert W. Baird raised their target price on Edwards Lifesciences from $72.00 to $75.00 and gave the company a “neutral” rating in a research note on Thursday, April 24th. Dbs Bank raised Edwards Lifesciences to a “hold” rating in a report on Monday, June 2nd. Finally, Truist Financial decreased their price objective on shares of Edwards Lifesciences from $78.00 to $75.00 and set a “hold” rating on the stock in a report on Friday, April 11th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Edwards Lifesciences has an average rating of “Hold” and an average price target of $80.40.

Edwards Lifesciences Trading Up 2.1%

Shares of Edwards Lifesciences stock opened at $78.79 on Tuesday. Edwards Lifesciences has a 52-week low of $58.93 and a 52-week high of $95.25. The firm has a market capitalization of $46.22 billion, a PE ratio of 11.26, a price-to-earnings-growth ratio of 3.88 and a beta of 1.11. The company has a debt-to-equity ratio of 0.06, a current ratio of 4.45 and a quick ratio of 3.66. The company’s fifty day moving average price is $76.25 and its two-hundred day moving average price is $73.36.

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, beating analysts’ consensus estimates of $0.60 by $0.04. The business had revenue of $1.41 billion for the quarter, compared to analysts’ expectations of $1.40 billion. Edwards Lifesciences had a net margin of 75.48% and a return on equity of 16.62%. The firm’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.66 earnings per share. On average, analysts expect that Edwards Lifesciences will post 2.45 EPS for the current year.

Insider Activity at Edwards Lifesciences

In related news, CEO Bernard J. Zovighian sold 5,980 shares of Edwards Lifesciences stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $74.91, for a total transaction of $447,961.80. Following the transaction, the chief executive officer owned 58,284 shares of the company’s stock, valued at $4,366,054.44. This trade represents a 9.31% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Daveen Chopra sold 1,500 shares of the stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $75.08, for a total transaction of $112,620.00. Following the completion of the sale, the vice president owned 33,496 shares in the company, valued at approximately $2,514,879.68. This trade represents a 4.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 40,348 shares of company stock worth $2,977,683. 1.29% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Crowley Wealth Management Inc. bought a new stake in shares of Edwards Lifesciences during the fourth quarter worth $26,000. Quantbot Technologies LP acquired a new position in shares of Edwards Lifesciences during the first quarter worth about $26,000. Vega Investment Solutions bought a new stake in Edwards Lifesciences in the 4th quarter valued at approximately $27,000. SouthState Corp bought a new position in shares of Edwards Lifesciences during the 1st quarter worth approximately $27,000. Finally, Millstone Evans Group LLC acquired a new stake in shares of Edwards Lifesciences in the fourth quarter valued at approximately $29,000. 79.46% of the stock is currently owned by institutional investors.

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.