Edwards Lifesciences (NYSE:EW) Price Target Raised to $91.00

Edwards Lifesciences (NYSE:EW) had its price objective increased by equities research analysts at Evercore ISI from $89.00 to $91.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage presently has an “in-line” rating on the medical research company’s stock. Evercore ISI’s price objective suggests a potential downside of 0.10% from the company’s previous close.

Other analysts have also issued reports about the company. OTR Global raised Edwards Lifesciences from a “mixed” rating to a “positive” rating in a report on Tuesday, March 26th. Stifel Nicolaus lifted their price target on Edwards Lifesciences from $83.00 to $85.00 and gave the stock a “hold” rating in a research note on Friday, April 26th. The Goldman Sachs Group began coverage on Edwards Lifesciences in a research note on Thursday, May 30th. They issued a “buy” rating and a $107.00 price target on the stock. Piper Sandler lifted their price target on Edwards Lifesciences from $85.00 to $88.00 and gave the stock a “neutral” rating in a research note on Friday, April 26th. Finally, Bank of America raised Edwards Lifesciences from a “neutral” rating to a “buy” rating in a research note on Thursday, March 7th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $95.18.

Edwards Lifesciences Stock Down 0.2 %

Shares of EW opened at $91.09 on Tuesday. The company has a current ratio of 3.75, a quick ratio of 2.67 and a debt-to-equity ratio of 0.08. Edwards Lifesciences has a 12 month low of $60.57 and a 12 month high of $96.12. The stock’s 50 day moving average is $87.99 and its two-hundred day moving average is $85.56. The firm has a market cap of $54.89 billion, a P/E ratio of 39.26, a PEG ratio of 3.38 and a beta of 1.11.

Edwards Lifesciences (NYSE:EW) last issued its quarterly earnings data on Thursday, April 25th. The medical research company reported $0.66 EPS for the quarter, beating the consensus estimate of $0.64 by $0.02. Edwards Lifesciences had a return on equity of 22.86% and a net margin of 23.01%. The company had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.58 billion. Analysts predict that Edwards Lifesciences will post 2.77 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Edwards Lifesciences news, CEO Bernard J. Zovighian bought 580 shares of Edwards Lifesciences stock in a transaction on Monday, May 6th. The shares were bought at an average price of $85.74 per share, for a total transaction of $49,729.20. Following the completion of the transaction, the chief executive officer now directly owns 3,268 shares of the company’s stock, valued at $280,198.32. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. In other Edwards Lifesciences news, CEO Bernard J. Zovighian bought 580 shares of Edwards Lifesciences stock in a transaction on Monday, May 6th. The shares were bought at an average price of $85.74 per share, for a total transaction of $49,729.20. Following the completion of the transaction, the chief executive officer now directly owns 3,268 shares of the company’s stock, valued at $280,198.32. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Jean-Luc M. Lemercier sold 14,400 shares of Edwards Lifesciences stock in a transaction on Monday, April 8th. The shares were sold at an average price of $92.32, for a total value of $1,329,408.00. Following the completion of the sale, the vice president now owns 173,849 shares in the company, valued at approximately $16,049,739.68. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 90,499 shares of company stock worth $7,866,511. 1.27% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Edwards Lifesciences

Several hedge funds have recently bought and sold shares of EW. Advisors Asset Management Inc. lifted its stake in Edwards Lifesciences by 3.9% during the 3rd quarter. Advisors Asset Management Inc. now owns 20,601 shares of the medical research company’s stock worth $1,427,000 after acquiring an additional 781 shares in the last quarter. Alps Advisors Inc. lifted its stake in Edwards Lifesciences by 5.5% during the 3rd quarter. Alps Advisors Inc. now owns 4,504 shares of the medical research company’s stock worth $312,000 after acquiring an additional 234 shares in the last quarter. Seven Eight Capital LP increased its holdings in Edwards Lifesciences by 2,299.5% during the 3rd quarter. Seven Eight Capital LP now owns 177,128 shares of the medical research company’s stock worth $12,271,000 after purchasing an additional 169,746 shares during the period. Sectoral Asset Management Inc. increased its holdings in Edwards Lifesciences by 37.8% during the 3rd quarter. Sectoral Asset Management Inc. now owns 49,200 shares of the medical research company’s stock worth $3,409,000 after purchasing an additional 13,500 shares during the period. Finally, Royal London Asset Management Ltd. increased its holdings in Edwards Lifesciences by 3.8% during the 3rd quarter. Royal London Asset Management Ltd. now owns 237,764 shares of the medical research company’s stock worth $16,473,000 after purchasing an additional 8,775 shares during the period. Institutional investors and hedge funds own 79.46% of the company’s stock.

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.