Edwards Lifesciences (NYSE:EW) Stock Rating Reaffirmed by Oppenheimer

Edwards Lifesciences (NYSE:EW)‘s stock had its “outperform” rating reissued by investment analysts at Oppenheimer in a report issued on Thursday, Benzinga reports. They currently have a $90.00 price target on the medical research company’s stock. Oppenheimer’s price objective points to a potential upside of 31.35% from the stock’s previous close.

Several other equities analysts have also recently issued reports on the stock. Evercore ISI lowered their price objective on shares of Edwards Lifesciences from $91.00 to $76.00 and set an “in-line” rating on the stock in a research note on Thursday, July 25th. Truist Financial cut Edwards Lifesciences from a “buy” rating to a “hold” rating and dropped their price target for the company from $110.00 to $82.00 in a report on Thursday, July 25th. Canaccord Genuity Group decreased their target price on Edwards Lifesciences from $85.00 to $77.00 and set a “hold” rating on the stock in a report on Thursday, July 25th. UBS Group cut their target price on Edwards Lifesciences from $90.00 to $75.00 and set a “neutral” rating on the stock in a research report on Tuesday. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on Edwards Lifesciences from $103.00 to $85.00 and set a “buy” rating for the company in a research report on Thursday, July 25th. Fifteen research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $80.29.

Edwards Lifesciences Stock Performance

Shares of EW opened at $68.52 on Thursday. The firm has a market capitalization of $41.28 billion, a PE ratio of 29.53, a P/E/G ratio of 2.85 and a beta of 1.13. The company has a quick ratio of 2.87, a current ratio of 3.71 and a debt-to-equity ratio of 0.08. The firm has a 50-day moving average price of $72.39 and a 200 day moving average price of $83.49. Edwards Lifesciences has a 52-week low of $58.93 and a 52-week high of $96.12.

Edwards Lifesciences (NYSE:EW) last posted its quarterly earnings data on Wednesday, July 24th. The medical research company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.01. Edwards Lifesciences had a net margin of 24.55% and a return on equity of 22.35%. The business had revenue of $1.63 billion during the quarter, compared to analysts’ expectations of $1.65 billion. During the same period last year, the firm posted $0.66 earnings per share. The business’s revenue was up 6.7% on a year-over-year basis. On average, sell-side analysts anticipate that Edwards Lifesciences will post 2.7 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, VP Donald E. Bobo, Jr. sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $66.08, for a total value of $330,400.00. Following the completion of the sale, the vice president now owns 46,936 shares of the company’s stock, valued at approximately $3,101,530.88. The sale was disclosed in a document filed with the SEC, which is available at this link. In other Edwards Lifesciences news, VP Donald E. Bobo, Jr. sold 5,000 shares of the stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $66.08, for a total transaction of $330,400.00. Following the transaction, the vice president now directly owns 46,936 shares of the company’s stock, valued at $3,101,530.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Daveen Chopra sold 1,250 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $69.95, for a total value of $87,437.50. Following the transaction, the vice president now owns 29,333 shares in the company, valued at $2,051,843.35. The disclosure for this sale can be found here. Insiders have sold a total of 16,250 shares of company stock valued at $1,218,138 in the last three months. Insiders own 1.29% of the company’s stock.

Institutional Investors Weigh In On Edwards Lifesciences

A number of large investors have recently added to or reduced their stakes in EW. 9258 Wealth Management LLC grew its position in shares of Edwards Lifesciences by 24.8% in the fourth quarter. 9258 Wealth Management LLC now owns 10,529 shares of the medical research company’s stock valued at $803,000 after purchasing an additional 2,093 shares during the last quarter. Gryphon Financial Partners LLC grew its holdings in Edwards Lifesciences by 35.7% in the 4th quarter. Gryphon Financial Partners LLC now owns 6,454 shares of the medical research company’s stock valued at $492,000 after buying an additional 1,698 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Edwards Lifesciences by 5.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,172,836 shares of the medical research company’s stock valued at $89,433,000 after buying an additional 58,442 shares during the last quarter. M&G Investment Management Ltd. lifted its holdings in shares of Edwards Lifesciences by 10.8% during the fourth quarter. M&G Investment Management Ltd. now owns 8,826 shares of the medical research company’s stock worth $671,000 after buying an additional 863 shares during the last quarter. Finally, Janney Montgomery Scott LLC boosted its position in shares of Edwards Lifesciences by 2.9% in the fourth quarter. Janney Montgomery Scott LLC now owns 76,614 shares of the medical research company’s stock valued at $5,842,000 after acquiring an additional 2,126 shares during the period. Institutional investors own 79.46% of the company’s stock.

About Edwards Lifesciences

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.