Edwards Lifesciences (NYSE:EW) Downgraded by Daiwa America to Hold

Daiwa America cut shares of Edwards Lifesciences (NYSE:EW) from a strong-buy rating to a hold rating in a report released on Wednesday, Zacks.com reports.

Several other analysts have also recently issued reports on EW. Piper Sandler cut their price objective on Edwards Lifesciences from $73.00 to $70.00 and set a “neutral” rating on the stock in a research note on Friday, October 25th. Truist Financial dropped their price target on Edwards Lifesciences from $71.00 to $70.00 and set a “hold” rating on the stock in a research report on Friday, October 25th. Daiwa Capital Markets upgraded Edwards Lifesciences from a “neutral” rating to an “outperform” rating in a research report on Wednesday, July 31st. Wolfe Research upgraded Edwards Lifesciences from an “underperform” rating to a “peer perform” rating in a research report on Monday, July 29th. Finally, Citigroup dropped their price target on Edwards Lifesciences from $83.00 to $77.00 and set a “buy” rating on the stock in a research report on Tuesday, October 1st. Seventeen investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, Edwards Lifesciences currently has an average rating of “Hold” and a consensus price target of $75.67.

Edwards Lifesciences Trading Up 0.8 %

Shares of NYSE EW opened at $67.54 on Wednesday. The stock’s 50 day moving average price is $67.92 and its two-hundred day moving average price is $77.69. Edwards Lifesciences has a 52-week low of $58.93 and a 52-week high of $96.12. The stock has a market capitalization of $40.69 billion, a P/E ratio of 9.75, a PEG ratio of 3.86 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.

Edwards Lifesciences (NYSE:EW) last announced its quarterly earnings data on Thursday, October 24th. The medical research company reported $0.67 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.67. Edwards Lifesciences had a return on equity of 22.56% and a net margin of 70.82%. The firm had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.57 billion. During the same quarter in the prior year, the firm posted $0.59 earnings per share. Edwards Lifesciences’s revenue for the quarter was up 8.9% compared to the same quarter last year. On average, analysts anticipate that Edwards Lifesciences will post 2.57 earnings per share for the current fiscal year.

Insider Buying and Selling at Edwards Lifesciences

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 stock was sold at an average price of $66.08, for a total transaction of $330,400.00. Following the completion of the transaction, the vice president now directly owns 46,936 shares of the company’s stock, valued at approximately $3,101,530.88. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, VP Daveen Chopra sold 1,250 shares of the stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $69.95, for a total transaction of $87,437.50. Following the completion of the sale, the vice president now owns 29,333 shares in the company, valued at approximately $2,051,843.35. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 value of $330,400.00. Following the sale, the vice president now owns 46,936 shares of the company’s stock, valued at $3,101,530.88. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 16,250 shares of company stock valued at $1,099,238. 1.29% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Edwards Lifesciences

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Objective Capital Management LLC acquired a new stake in shares of Edwards Lifesciences during the 3rd quarter valued at $667,000. Townsend & Associates Inc lifted its position in shares of Edwards Lifesciences by 5.1% during the 3rd quarter. Townsend & Associates Inc now owns 174,978 shares of the medical research company’s stock valued at $12,355,000 after acquiring an additional 8,441 shares during the last quarter. Washington Trust Advisors Inc. lifted its position in shares of Edwards Lifesciences by 25.5% during the 3rd quarter. Washington Trust Advisors Inc. now owns 115,660 shares of the medical research company’s stock valued at $7,632,000 after acquiring an additional 23,489 shares during the last quarter. Seascape Capital Management lifted its position in shares of Edwards Lifesciences by 0.5% during the 3rd quarter. Seascape Capital Management now owns 32,989 shares of the medical research company’s stock valued at $2,177,000 after acquiring an additional 174 shares during the last quarter. Finally, Equitable Trust Co. lifted its position in shares of Edwards Lifesciences by 379.7% during the 3rd quarter. Equitable Trust Co. now owns 65,888 shares of the medical research company’s stock valued at $4,348,000 after acquiring an additional 52,154 shares during the last quarter. 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.