Edwards Lifesciences (NYSE:EW) Stock Price Expected to Rise, Evercore ISI Analyst Says

Edwards Lifesciences (NYSE:EW) had its price objective lifted by investment analysts at Evercore ISI from $77.00 to $80.00 in a report released on Friday,Benzinga reports. The brokerage currently has an “in-line” rating on the medical research company’s stock. Evercore ISI’s price objective points to a potential upside of 0.11% from the stock’s current price.

EW has been the subject of a number of other reports. Citigroup reissued a “buy” rating and issued a $95.00 price target (up from $84.00) on shares of Edwards Lifesciences in a report on Thursday, May 22nd. Dbs Bank raised Edwards Lifesciences to a “hold” rating in a report on Monday, June 2nd. Mizuho boosted their price target on Edwards Lifesciences from $85.00 to $87.00 and gave the company an “outperform” rating in a report on Wednesday, July 16th. Wall Street Zen downgraded Edwards Lifesciences from a “buy” rating to a “hold” rating in a report on Friday, May 16th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on Edwards Lifesciences from $85.00 to $94.00 and gave the company a “buy” rating in a report on Friday. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Edwards Lifesciences currently has an average rating of “Moderate Buy” and an average price target of $85.00.

Edwards Lifesciences Trading Up 5.4%

Edwards Lifesciences stock opened at $79.92 on Friday. The company has a quick ratio of 3.66, a current ratio of 4.45 and a debt-to-equity ratio of 0.06. Edwards Lifesciences has a 52 week low of $59.41 and a 52 week high of $83.00. The company has a market capitalization of $46.88 billion, a price-to-earnings ratio of 11.50, a price-to-earnings-growth ratio of 4.02 and a beta of 1.11. The stock has a 50-day moving average price of $76.58 and a 200 day moving average price of $73.56.

Edwards Lifesciences (NYSE:EW) last released its earnings results on Thursday, July 24th. The medical research company reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.05. Edwards Lifesciences had a return on equity of 15.25% and a net margin of 72.96%. The firm had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.49 billion. During the same quarter in the previous year, the company posted $0.70 earnings per share. The company’s revenue was up 11.9% compared to the same quarter last year. Sell-side analysts anticipate that Edwards Lifesciences will post 2.45 EPS for the current year.

Insider Activity

In related news, insider Larry L. Wood sold 8,950 shares of the business’s stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $75.23, for a total transaction of $673,308.50. Following the completion of the sale, the insider directly owned 206,900 shares in the company, valued at approximately $15,565,087. The trade was a 4.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Donald E. Bobo, Jr. sold 2,570 shares of the business’s stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $77.40, for a total value of $198,918.00. Following the sale, the vice president owned 50,356 shares of the company’s stock, valued at $3,897,554.40. The trade was a 4.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 30,848 shares of company stock valued at $2,314,488 in the last three months. Company insiders own 1.29% of the company’s stock.

Institutional Trading of Edwards Lifesciences

Several large investors have recently made changes to their positions in EW. Quantbot Technologies LP acquired a new position in Edwards Lifesciences during the first quarter worth $26,000. Vega Investment Solutions purchased a new stake in Edwards Lifesciences during the 4th quarter worth about $27,000. SouthState Corp purchased a new position in shares of Edwards Lifesciences in the 1st quarter valued at about $27,000. Global X Japan Co. Ltd. increased its holdings in shares of Edwards Lifesciences by 116.1% in the 1st quarter. Global X Japan Co. Ltd. now owns 402 shares of the medical research company’s stock valued at $29,000 after acquiring an additional 216 shares during the last quarter. Finally, Tradewinds Capital Management LLC increased its holdings in shares of Edwards Lifesciences by 102.5% in the 1st quarter. Tradewinds Capital Management LLC now owns 405 shares of the medical research company’s stock valued at $29,000 after acquiring an additional 205 shares during the last quarter. 79.46% of the stock is currently owned by hedge funds and other 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.