Edwards Lifesciences Co. (NYSE:EW) Receives $79.40 Consensus Target Price from Analysts

Edwards Lifesciences Co. (NYSE:EW) has earned an average rating of “Hold” from the twenty-six ratings firms that are presently covering the firm, MarketBeat.com reports. Fifteen analysts have rated the stock with a hold recommendation and eleven have given a buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $79.40.

A number of equities research analysts have recently commented on EW shares. Royal Bank of Canada increased their price target on shares of Edwards Lifesciences from $80.00 to $85.00 and gave the company an “outperform” rating in a report on Thursday, December 5th. Sanford C. Bernstein raised Edwards Lifesciences from a “strong sell” rating to a “hold” rating in a report on Monday, October 28th. Piper Sandler decreased their price target on Edwards Lifesciences from $73.00 to $70.00 and set a “neutral” rating for the company in a research note on Friday, October 25th. Evercore ISI dropped their price objective on Edwards Lifesciences from $76.00 to $70.00 and set an “in-line” rating on the stock in a research report on Tuesday, October 1st. Finally, Morgan Stanley reissued an “equal weight” rating and issued a $70.00 target price on shares of Edwards Lifesciences in a research report on Friday, October 11th.

Edwards Lifesciences Trading Down 1.0 %

EW opened at $73.41 on Thursday. 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 has a 52 week low of $58.93 and a 52 week high of $96.12. The stock has a market cap of $43.30 billion, a PE ratio of 10.59, a PEG ratio of 3.61 and a beta of 1.12. The business has a 50 day moving average of $71.64 and a 200-day moving average of $72.06.

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

Insider Activity

In other Edwards Lifesciences news, VP Daniel J. Lippis sold 2,500 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $74.08, for a total value of $185,200.00. Following the transaction, the vice president now directly owns 23,189 shares in the company, valued at $1,717,841.12. This represents a 9.73 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Donald E. Bobo, Jr. sold 5,000 shares of Edwards Lifesciences stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $69.51, for a total value of $347,550.00. Following the sale, the vice president now directly owns 46,936 shares of the company’s stock, valued at approximately $3,262,521.36. This trade represents a 9.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 37,500 shares of company stock valued at $2,508,350. 1.29% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Edwards Lifesciences

Several institutional investors and hedge funds have recently added to or reduced their stakes in EW. Nordea Investment Management AB increased its holdings in shares of Edwards Lifesciences by 34.6% during the fourth quarter. Nordea Investment Management AB now owns 4,057,013 shares of the medical research company’s stock valued at $301,355,000 after acquiring an additional 1,043,484 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Edwards Lifesciences by 9.2% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 478,418 shares of the medical research company’s stock worth $31,571,000 after purchasing an additional 40,348 shares during the last quarter. AIA Group Ltd increased its stake in Edwards Lifesciences by 91.7% during the 3rd quarter. AIA Group Ltd now owns 749,524 shares of the medical research company’s stock valued at $49,461,000 after purchasing an additional 358,556 shares in the last quarter. RiverPark Advisors LLC raised its holdings in shares of Edwards Lifesciences by 58.1% in the third quarter. RiverPark Advisors LLC now owns 20,639 shares of the medical research company’s stock worth $1,362,000 after buying an additional 7,583 shares during the last quarter. Finally, Banque Cantonale Vaudoise lifted its stake in shares of Edwards Lifesciences by 46.9% during the third quarter. Banque Cantonale Vaudoise now owns 81,111 shares of the medical research company’s stock worth $5,353,000 after buying an additional 25,886 shares during the period. Hedge funds and other institutional investors own 79.46% of the company’s stock.

About Edwards Lifesciences

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.