Edwards Lifesciences (NYSE:EW) PT Lowered to $70.00

Edwards Lifesciences (NYSE:EW) had its target price trimmed by Truist Financial from $71.00 to $70.00 in a research note issued to investors on Friday morning, Benzinga reports. The firm currently has a hold rating on the medical research company’s stock.

Several other equities research analysts have also issued reports on the stock. JPMorgan Chase & Co. lowered shares of Edwards Lifesciences from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $105.00 to $72.00 in a report on Thursday, July 25th. Citigroup decreased their price objective on shares of Edwards Lifesciences from $83.00 to $77.00 and set a “buy” rating for the company in a research note on Tuesday, October 1st. Oppenheimer reaffirmed an “outperform” rating and set a $90.00 target price on shares of Edwards Lifesciences in a research note on Thursday, September 12th. Morgan Stanley reissued an “equal weight” rating and set a $70.00 price target on shares of Edwards Lifesciences in a research note on Friday, October 11th. Finally, UBS Group dropped their price objective on Edwards Lifesciences from $90.00 to $75.00 and set a “neutral” rating for the company in a report on Tuesday, September 10th. Fifteen research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Edwards Lifesciences presently has a consensus rating of “Hold” and a consensus price target of $75.67.

Edwards Lifesciences Trading Down 1.4 %

Shares of NYSE EW opened at $69.38 on Friday. Edwards Lifesciences has a 1-year low of $58.93 and a 1-year high of $96.12. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.71 and a quick ratio of 2.87. The business’s 50 day moving average is $68.09 and its two-hundred day moving average is $78.30. The stock has a market capitalization of $41.79 billion, a P/E ratio of 28.55, a PEG ratio of 3.00 and a beta of 1.13.

Edwards Lifesciences (NYSE:EW) last released its earnings results on Thursday, October 24th. The medical research company reported $0.67 earnings per share for the quarter, meeting the consensus estimate of $0.67. Edwards Lifesciences had a return on equity of 22.35% and a net margin of 24.55%. The firm had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.57 billion. During the same quarter in the previous year, the company posted $0.59 EPS. The company’s revenue for the quarter was up 8.9% compared to the same quarter last year. As a group, research analysts expect that Edwards Lifesciences will post 2.61 EPS for the current year.

Insider Transactions at Edwards Lifesciences

In other Edwards Lifesciences news, VP Donald E. Bobo, Jr. sold 5,000 shares of Edwards Lifesciences stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $69.51, for a total value of $347,550.00. Following the transaction, the vice president now owns 46,936 shares in the company, valued at $3,262,521.36. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Edwards Lifesciences news, VP Donald E. Bobo, Jr. sold 5,000 shares of Edwards Lifesciences stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $69.51, for a total value of $347,550.00. Following the transaction, the vice president now directly owns 46,936 shares of the company’s stock, valued at approximately $3,262,521.36. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Daveen Chopra sold 1,250 shares of the stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $69.95, for a total value of $87,437.50. Following the sale, the vice president now owns 29,333 shares of the company’s stock, valued at approximately $2,051,843.35. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 16,250 shares of company stock valued at $1,099,238. Corporate insiders own 1.29% of the company’s stock.

Hedge Funds Weigh In On Edwards Lifesciences

Hedge funds have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD raised its stake in Edwards Lifesciences by 57.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,516,260 shares of the medical research company’s stock worth $622,695,000 after acquiring an additional 2,390,137 shares during the last quarter. CCLA Investment Management increased its holdings in shares of Edwards Lifesciences by 100,739.7% in the first quarter. CCLA Investment Management now owns 1,406,714 shares of the medical research company’s stock valued at $134,092,000 after purchasing an additional 1,405,319 shares during the period. Swedbank AB purchased a new position in shares of Edwards Lifesciences in the first quarter worth about $124,511,000. Sei Investments Co. lifted its holdings in shares of Edwards Lifesciences by 162.7% during the first quarter. Sei Investments Co. now owns 1,465,719 shares of the medical research company’s stock worth $140,064,000 after purchasing an additional 907,688 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in Edwards Lifesciences by 4.3% in the second quarter. Bank of New York Mellon Corp now owns 19,782,909 shares of the medical research company’s stock valued at $1,827,347,000 after buying an additional 809,605 shares during the last quarter. Institutional investors and hedge funds 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.