Royal Bank Of Canada Forecasts Strong Price Appreciation for Edwards Lifesciences (NYSE:EW) Stock

Edwards Lifesciences (NYSE:EW) had its target price lifted by analysts at Royal Bank Of Canada from $85.00 to $89.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the medical research company’s stock. Royal Bank Of Canada’s target price would suggest a potential upside of 11.37% from the stock’s previous close.

Several other brokerages have also issued reports on EW. Argus upgraded shares of Edwards Lifesciences to a “strong-buy” rating in a research report on Thursday, July 10th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Edwards Lifesciences from $85.00 to $94.00 and gave the company a “buy” rating in a research report on Friday. Dbs Bank upgraded shares of Edwards Lifesciences to a “hold” rating in a research report on Monday, June 2nd. Morgan Stanley lifted their target price on shares of Edwards Lifesciences from $75.00 to $81.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 15th. Finally, Truist Financial dropped their target price on shares of Edwards Lifesciences from $78.00 to $75.00 and set a “hold” rating for the company in a research report on Friday, April 11th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $85.00.

Edwards Lifesciences Price Performance

EW stock opened at $79.92 on Friday. The firm has a 50 day moving average of $76.58 and a 200-day moving average of $73.56. The company has a current ratio of 4.45, a quick ratio of 3.66 and a debt-to-equity ratio of 0.06. Edwards Lifesciences has a 12 month low of $59.41 and a 12 month high of $83.00. The firm has a market capitalization of $46.88 billion, a P/E ratio of 11.50, a price-to-earnings-growth ratio of 4.02 and a beta of 1.11.

Edwards Lifesciences (NYSE:EW) last released its quarterly earnings data on Thursday, July 24th. The medical research company reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.05. Edwards Lifesciences had a net margin of 72.96% and a return on equity of 15.25%. The company had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.49 billion. During the same period last year, the business earned $0.70 earnings per share. Edwards Lifesciences’s revenue was up 11.9% compared to the same quarter last year. As a group, sell-side analysts predict that Edwards Lifesciences will post 2.45 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Larry L. Wood sold 8,950 shares of Edwards Lifesciences stock in a transaction 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 transaction, the insider directly owned 206,900 shares of the company’s stock, valued at $15,565,087. The trade was a 4.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Donald E. Bobo, Jr. sold 2,570 shares of Edwards Lifesciences stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $77.40, for a total transaction of $198,918.00. Following the completion of the transaction, the vice president directly owned 50,356 shares in the company, valued at approximately $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 over the last quarter. Company insiders own 1.29% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. NorthRock Partners LLC grew its position in shares of Edwards Lifesciences by 13.2% in the 2nd quarter. NorthRock Partners LLC now owns 22,705 shares of the medical research company’s stock worth $1,776,000 after buying an additional 2,650 shares during the period. Sequoia Financial Advisors LLC grew its holdings in Edwards Lifesciences by 12.6% in the second quarter. Sequoia Financial Advisors LLC now owns 26,461 shares of the medical research company’s stock worth $2,069,000 after purchasing an additional 2,966 shares during the period. MGO One Seven LLC grew its holdings in Edwards Lifesciences by 9.1% in the second quarter. MGO One Seven LLC now owns 7,266 shares of the medical research company’s stock worth $568,000 after purchasing an additional 604 shares during the period. LRI Investments LLC grew its holdings in Edwards Lifesciences by 1.0% in the second quarter. LRI Investments LLC now owns 14,971 shares of the medical research company’s stock worth $1,171,000 after purchasing an additional 147 shares during the period. Finally, CWM LLC grew its holdings in Edwards Lifesciences by 24.1% in the second quarter. CWM LLC now owns 40,851 shares of the medical research company’s stock worth $3,195,000 after purchasing an additional 7,935 shares during the period. 79.46% of the stock is 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.