Edwards Lifesciences (NYSE:EW) Price Target Raised to $85.00

Edwards Lifesciences (NYSE:EW) had its price target increased by Royal Bank of Canada from $80.00 to $85.00 in a report published on Thursday morning,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the medical research company’s stock.

Other equities analysts have also recently issued reports about the stock. Oppenheimer reissued an “outperform” rating and issued a $90.00 target price on shares of Edwards Lifesciences in a research note on Thursday, September 12th. Barclays raised their target price on shares of Edwards Lifesciences from $85.00 to $88.00 and gave the company an “overweight” rating in a research note on Monday, December 2nd. Morgan Stanley reissued an “equal weight” rating and issued a $70.00 target price on shares of Edwards Lifesciences in a research note on Friday, October 11th. Citigroup decreased their target price 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. Finally, Canaccord Genuity Group raised 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. Seventeen equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Edwards Lifesciences has a consensus rating of “Hold” and an average price target of $78.35.

Edwards Lifesciences Price Performance

Shares of EW opened at $71.53 on Thursday. The stock has a market capitalization of $42.19 billion, a P/E ratio of 10.32, a P/E/G ratio of 4.17 and a beta of 1.12. Edwards Lifesciences has a twelve month low of $58.93 and a twelve month high of $96.12. The company has a 50 day moving average of $68.65 and a 200-day moving average of $74.52. The company has a quick ratio of 2.89, a current ratio of 3.46 and a debt-to-equity ratio of 0.06.

Edwards Lifesciences (NYSE:EW) last issued its quarterly earnings results on Thursday, October 24th. The medical research company reported $0.67 earnings per share for the quarter, hitting the consensus estimate of $0.67. Edwards Lifesciences had a net margin of 70.82% and a return on equity of 20.76%. The company had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.57 billion. During the same period last year, the business earned $0.59 EPS. The business’s quarterly revenue was up 8.9% on a year-over-year basis. As a group, equities research analysts forecast that Edwards Lifesciences will post 2.55 EPS for the current fiscal year.

Insider Activity at Edwards Lifesciences

In related news, VP Donald E. Bobo, Jr. sold 5,000 shares of the business’s stock in a transaction dated Wednesday, November 13th. The stock was 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 $3,077,593.52. The trade was a 9.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Larry L. Wood sold 25,000 shares of the business’s stock in a transaction dated Tuesday, November 5th. The shares were 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 of the company’s stock, valued at approximately $13,084,848.66. This trade represents a 11.18 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 40,000 shares of company stock valued at $2,657,000 over the last quarter. 1.29% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of EW. Lantz Financial LLC raised its stake in Edwards Lifesciences by 25.3% during the second quarter. Lantz Financial LLC now owns 3,236 shares of the medical research company’s stock worth $299,000 after acquiring an additional 654 shares in the last quarter. Valeo Financial Advisors LLC grew its holdings in shares of Edwards Lifesciences by 7.4% during the second quarter. Valeo Financial Advisors LLC now owns 5,133 shares of the medical research company’s stock worth $474,000 after purchasing an additional 354 shares during the last quarter. Webster Bank N. A. bought a new stake in shares of Edwards Lifesciences during the second quarter worth about $39,000. QRG Capital Management Inc. grew its holdings in shares of Edwards Lifesciences by 4.3% during the second quarter. QRG Capital Management Inc. now owns 46,353 shares of the medical research company’s stock worth $4,282,000 after purchasing an additional 1,898 shares during the last quarter. Finally, Opal Wealth Advisors LLC bought a new stake in shares of Edwards Lifesciences during the second quarter worth about $137,000. 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.