Brokerages Set Edwards Lifesciences Co. (NYSE:EW) Target Price at $78.65

Edwards Lifesciences Co. (NYSE:EW) has earned a consensus rating of “Hold” from the twenty-six research firms that are currently covering the firm, MarketBeat Ratings reports. Fifteen research analysts have rated the stock with a hold recommendation and eleven have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $79.40.

EW has been the subject of a number of research reports. Truist Financial reissued 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. Canaccord Genuity Group boosted their price target on Edwards Lifesciences from $63.00 to $68.00 and gave the company a “hold” rating in a research note on Thursday, December 5th. Citigroup raised their price objective on shares of Edwards Lifesciences from $81.00 to $83.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. Barclays boosted their target price on shares of Edwards Lifesciences from $85.00 to $88.00 and gave the stock an “overweight” rating in a research report on Monday, December 2nd. Finally, Jefferies Financial Group downgraded shares of Edwards Lifesciences from a “buy” rating to a “hold” rating and cut their price target for the company from $85.00 to $70.00 in a report on Wednesday, September 18th.

Insiders Place Their Bets

In related news, insider Larry L. Wood sold 25,000 shares of the company’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $65.91, for a total transaction of $1,647,750.00. Following the transaction, the insider now owns 198,526 shares in the company, valued at $13,084,848.66. This represents a 11.18 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Donald E. Bobo, Jr. sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $69.51, for a total transaction of $347,550.00. Following the completion of the sale, the vice president now owns 46,936 shares of the company’s stock, valued at $3,262,521.36. The trade was a 9.63 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 37,500 shares of company stock worth $2,508,350 over the last three months. 1.29% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Edwards Lifesciences

Several hedge funds have recently added to or reduced their stakes in the company. Wellington Management Group LLP boosted its stake in Edwards Lifesciences by 86.3% in the third quarter. Wellington Management Group LLP now owns 31,532,725 shares of the medical research company’s stock valued at $2,080,845,000 after acquiring an additional 14,610,123 shares during the last quarter. State Street Corp boosted its position in shares of Edwards Lifesciences by 1.0% in the 3rd quarter. State Street Corp now owns 26,265,633 shares of the medical research company’s stock worth $1,733,270,000 after purchasing an additional 256,538 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of 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 period. Geode Capital Management LLC increased its holdings in Edwards Lifesciences by 2.2% in the third quarter. Geode Capital Management LLC now owns 13,521,147 shares of the medical research company’s stock valued at $889,050,000 after purchasing an additional 284,918 shares during the last quarter. Finally, Fisher Asset Management LLC lifted its stake in Edwards Lifesciences by 9.8% in the third quarter. Fisher Asset Management LLC now owns 9,078,311 shares of the medical research company’s stock valued at $599,078,000 after buying an additional 806,705 shares during the period. Institutional investors own 79.46% of the company’s stock.

Edwards Lifesciences Trading Up 0.3 %

Shares of EW opened at $74.15 on Friday. The business’s 50-day moving average price is $69.72 and its 200 day moving average price is $73.71. The company has a current ratio of 3.46, a quick ratio of 2.89 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $43.73 billion, a P/E ratio of 10.70, a P/E/G ratio of 3.63 and a beta of 1.12. Edwards Lifesciences has a 1-year low of $58.93 and a 1-year high of $96.12.

Edwards Lifesciences (NYSE:EW) last posted its quarterly earnings data on Thursday, October 24th. The medical research company reported $0.67 EPS for the quarter, hitting analysts’ consensus estimates of $0.67. Edwards Lifesciences had a net margin of 70.82% and a return on equity of 20.76%. The firm had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.57 billion. During the same quarter last year, the business posted $0.59 EPS. The company’s revenue was up 8.9% on a year-over-year basis. Analysts expect that Edwards Lifesciences will post 2.56 earnings per share for the current year.

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.