Edwards Lifesciences (NYSE:EW) Stock Price Expected to Rise, Barclays Analyst Says

Edwards Lifesciences (NYSE:EW) had its price objective hoisted by analysts at Barclays from $85.00 to $88.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has an “overweight” rating on the medical research company’s stock. Barclays‘s target price would suggest a potential upside of 25.37% from the company’s current price.

Several other brokerages have also issued reports on EW. JPMorgan Chase & Co. increased their price target on Edwards Lifesciences from $72.00 to $78.00 and gave the stock a “neutral” rating in a report on Friday, October 25th. Royal Bank of Canada increased their price target on Edwards Lifesciences from $75.00 to $80.00 and gave the stock an “outperform” rating in a report on Wednesday, November 27th. Piper Sandler cut their price target on Edwards Lifesciences from $73.00 to $70.00 and set a “neutral” rating on the stock in a report on Friday, October 25th. Morgan Stanley restated an “equal weight” rating and issued a $70.00 target price on shares of Edwards Lifesciences in a report on Friday, October 11th. Finally, Daiwa America lowered Edwards Lifesciences from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 30th. Seventeen equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $77.25.

Edwards Lifesciences Trading Down 0.5 %

NYSE EW opened at $70.19 on Monday. The business has a 50 day simple moving average of $68.24 and a 200 day simple moving average of $74.78. Edwards Lifesciences has a one year low of $58.93 and a one year high of $96.12. The stock has a market capitalization of $41.40 billion, a P/E ratio of 10.13, a P/E/G ratio of 3.97 and a beta of 1.12. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.46 and a quick ratio of 2.89.

Edwards Lifesciences (NYSE:EW) last announced its quarterly earnings results on Thursday, October 24th. The medical research company reported $0.67 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.67. The business had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.57 billion. Edwards Lifesciences had a return on equity of 20.76% and a net margin of 70.82%. The company’s quarterly revenue was up 8.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.59 earnings per share. Research analysts expect that Edwards Lifesciences will post 2.57 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Larry L. Wood sold 25,000 shares of Edwards Lifesciences stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $65.91, for a total value of $1,647,750.00. Following the completion of the transaction, the insider now directly owns 198,526 shares in the company, valued at approximately $13,084,848.66. The trade was a 11.18 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Donald E. Bobo, Jr. sold 5,000 shares of Edwards Lifesciences stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $65.57, for a total value of $327,850.00. Following the completion of the transaction, the vice president now owns 46,936 shares of the company’s stock, valued at approximately $3,077,593.52. This trade represents a 9.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 40,000 shares of company stock valued at $2,657,000 over the last ninety days. 1.27% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Edwards Lifesciences

Several hedge funds have recently made changes to their positions in the stock. Wellington Management Group LLP grew its position in Edwards Lifesciences by 86.3% during the third quarter. Wellington Management Group LLP now owns 31,532,725 shares of the medical research company’s stock worth $2,080,845,000 after buying an additional 14,610,123 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its position in Edwards Lifesciences by 239.9% during the third quarter. Jacobs Levy Equity Management Inc. now owns 3,693,663 shares of the medical research company’s stock worth $243,745,000 after buying an additional 2,606,950 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Edwards Lifesciences by 4.3% during the second quarter. Bank of New York Mellon Corp now owns 19,782,909 shares of the medical research company’s stock worth $1,827,347,000 after purchasing an additional 809,605 shares during the last quarter. Fisher Asset Management LLC lifted its stake in Edwards Lifesciences by 9.8% during the third quarter. Fisher Asset Management LLC now owns 9,078,311 shares of the medical research company’s stock worth $599,078,000 after purchasing an additional 806,705 shares during the last quarter. Finally, Worldquant Millennium Advisors LLC bought a new stake in Edwards Lifesciences during the third quarter worth about $39,628,000. 79.46% of the stock is currently owned by hedge funds and other institutional investors.

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.