Royal Bank of Canada Reaffirms Outperform Rating for Edwards Lifesciences (NYSE:EW)

Edwards Lifesciences (NYSE:EW)‘s stock had its “outperform” rating reissued by stock analysts at Royal Bank of Canada in a research report issued on Wednesday,Benzinga reports. They currently have a $85.00 price target on the medical research company’s stock. Royal Bank of Canada’s price target indicates a potential upside of 12.62% from the stock’s current price.

A number of other research firms have also commented on EW. The Goldman Sachs Group lifted their price objective on Edwards Lifesciences from $81.00 to $90.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. Stifel Nicolaus raised Edwards Lifesciences from a “hold” rating to a “buy” rating and lifted their price target for the stock from $75.00 to $90.00 in a research report on Thursday, January 30th. Morgan Stanley boosted their target price on shares of Edwards Lifesciences from $70.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Canaccord Genuity Group upped their target price on shares of Edwards Lifesciences from $63.00 to $68.00 and gave the company a “hold” rating in a research note on Thursday, December 5th. Finally, Truist Financial reaffirmed a “hold” rating and set a $78.00 price objective (up previously from $70.00) on shares of Edwards Lifesciences in a research report on Thursday, December 5th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $79.71.

Edwards Lifesciences Stock Up 6.4 %

Shares of NYSE EW traded up $4.57 during mid-day trading on Wednesday, reaching $75.48. 2,804,116 shares of the company traded hands, compared to its average volume of 4,337,154. The company’s fifty day moving average is $72.47 and its two-hundred day moving average is $69.32. Edwards Lifesciences has a fifty-two week low of $58.93 and a fifty-two week high of $96.12. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.89 and a current ratio of 3.46. The stock has a market cap of $44.52 billion, a PE ratio of 10.89, a price-to-earnings-growth ratio of 3.64 and a beta of 1.10.

Edwards Lifesciences (NYSE:EW) last released its quarterly earnings results on Tuesday, February 11th. The medical research company reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.55 by $0.04. Edwards Lifesciences had a net margin of 70.82% and a return on equity of 20.76%. On average, analysts expect that Edwards Lifesciences will post 2.56 earnings per share for the current year.

Insider Buying and Selling

In other Edwards Lifesciences news, VP Daniel J. Lippis sold 500 shares of the business’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $68.76, for a total value of $34,380.00. Following the completion of the sale, the vice president now owns 23,189 shares of the company’s stock, valued at $1,594,475.64. The trade was a 2.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.29% of the stock is currently owned by corporate insiders.

Institutional Trading of Edwards Lifesciences

Hedge funds have recently added to or reduced their stakes in the stock. Crowley Wealth Management Inc. acquired a new stake in shares of Edwards Lifesciences during the 4th quarter valued at $26,000. Millstone Evans Group LLC acquired a new stake in shares of Edwards Lifesciences during the fourth quarter valued at about $29,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Edwards Lifesciences during the fourth quarter worth about $30,000. FSA Wealth Management LLC bought a new position in Edwards Lifesciences in the 3rd quarter valued at approximately $30,000. Finally, Prospera Private Wealth LLC acquired a new stake in Edwards Lifesciences during the 3rd quarter worth approximately $32,000. 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.