Wells Fargo & Company Forecasts Strong Price Appreciation for Edwards Lifesciences (NYSE:EW) Stock

Edwards Lifesciences (NYSE:EW) had its price objective increased by Wells Fargo & Company from $80.00 to $84.00 in a report issued on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the medical research company’s stock. Wells Fargo & Company‘s target price points to a potential upside of 5.11% from the company’s previous close.

Other research analysts have also issued reports about the stock. Dbs Bank raised shares of Edwards Lifesciences to a “hold” rating in a report on Monday, June 2nd. Robert W. Baird raised their price objective on shares of Edwards Lifesciences from $78.00 to $79.00 and gave the stock a “neutral” rating in a report on Friday. Argus raised shares of Edwards Lifesciences to a “strong-buy” rating in a report on Thursday, July 10th. Evercore ISI raised their price objective on shares of Edwards Lifesciences from $77.00 to $80.00 and gave the stock an “in-line” rating in a report on Friday. Finally, Mizuho raised their price objective on shares of Edwards Lifesciences from $85.00 to $87.00 and gave the stock an “outperform” rating in a report on Wednesday, July 16th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $85.00.

Edwards Lifesciences Trading Up 5.4%

Shares of EW opened at $79.92 on Friday. The company has a market capitalization of $46.88 billion, a P/E ratio of 11.50, a P/E/G ratio of 4.02 and a beta of 1.11. Edwards Lifesciences has a one year low of $59.41 and a one year high of $83.00. The company has a debt-to-equity ratio of 0.06, a quick ratio of 3.66 and a current ratio of 4.45. 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 issued its quarterly earnings results 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. The firm had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.49 billion. Edwards Lifesciences had a return on equity of 15.25% and a net margin of 72.96%. Edwards Lifesciences’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.70 earnings per share. Sell-side analysts forecast that Edwards Lifesciences will post 2.45 EPS for the current fiscal year.

Insider Activity

In other Edwards Lifesciences news, VP Donald E. Bobo, Jr. sold 2,570 shares of the business’s stock in a transaction dated Monday, June 2nd. The shares were 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 of the company’s stock, valued at $3,897,554.40. The trade was a 4.86% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Daveen Chopra sold 1,500 shares of the company’s stock in a transaction that occurred 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 directly owned 33,496 shares of the company’s stock, valued at approximately $2,514,879.68. This represents a 4.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 30,848 shares of company stock worth $2,314,488 over the last three months. Insiders own 1.29% of the company’s stock.

Institutional Trading of Edwards Lifesciences

Institutional investors have recently made changes to their positions in the stock. Quantbot Technologies LP acquired a new position in shares of Edwards Lifesciences during the 1st quarter valued at $26,000. Vega Investment Solutions acquired a new stake in shares of Edwards Lifesciences in the fourth quarter worth $27,000. SouthState Corp acquired a new position in Edwards Lifesciences in the 1st quarter valued at approximately $27,000. Global X Japan Co. Ltd. increased its stake in 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 buying an additional 216 shares during the period. Finally, Tradewinds Capital Management LLC increased its stake in shares of Edwards Lifesciences by 102.5% during the 1st quarter. Tradewinds Capital Management LLC now owns 405 shares of the medical research company’s stock worth $29,000 after purchasing an additional 205 shares during the last quarter. 79.46% of the stock is owned by institutional investors and hedge funds.

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.