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

Edwards Lifesciences (NYSE:EW) had its price target lifted by analysts at Citigroup from $81.00 to $83.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the medical research company’s stock. Citigroup’s price objective would indicate a potential upside of 12.21% from the stock’s current price.

EW has been the subject of several other reports. Canaccord Genuity Group increased their price objective on Edwards Lifesciences from $63.00 to $68.00 and gave the stock a “hold” rating in a research note on Thursday, December 5th. Stifel Nicolaus increased their target price on Edwards Lifesciences from $70.00 to $75.00 and gave the stock a “hold” rating in a report on Thursday, December 5th. Royal Bank of Canada increased their target price on Edwards Lifesciences from $80.00 to $85.00 and gave the stock an “outperform” rating in a report on Thursday, December 5th. Robert W. Baird decreased their target price on Edwards Lifesciences from $73.00 to $68.00 and set a “neutral” rating on the stock in a report on Friday, October 25th. Finally, Morgan Stanley restated an “equal weight” rating and set a $70.00 target price on shares of Edwards Lifesciences in a report on Friday, October 11th. Seventeen equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, Edwards Lifesciences currently has a consensus rating of “Hold” and a consensus target price of $78.65.

Edwards Lifesciences Stock Up 0.2 %

Shares of EW stock opened at $73.97 on Wednesday. The stock has a market cap of $43.63 billion, a P/E ratio of 10.67, a price-to-earnings-growth ratio of 3.52 and a beta of 1.12. Edwards Lifesciences has a one year low of $58.93 and a one year high of $96.12. The stock has a fifty day moving average price of $69.09 and a 200 day moving average price of $74.19. 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 released its quarterly earnings data 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. Edwards Lifesciences had a return on equity of 20.76% and a net margin of 70.82%. The firm had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.57 billion. During the same period in the prior year, the company posted $0.59 earnings per share. The business’s revenue for the quarter was up 8.9% compared to the same quarter last year. Analysts predict that Edwards Lifesciences will post 2.56 earnings per share for the current year.

Insider Activity at Edwards Lifesciences

In other Edwards Lifesciences news, VP Donald E. Bobo, Jr. sold 5,000 shares of the business’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $69.51, for a total value of $347,550.00. Following the completion of the transaction, the vice president now directly owns 46,936 shares of the company’s stock, valued at approximately $3,262,521.36. The trade was a 9.63 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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. The trade was a 11.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 35,000 shares of company stock worth $2,323,150. 1.29% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. FSA Wealth Management LLC acquired a new position in Edwards Lifesciences in the third quarter valued at about $30,000. Prospera Private Wealth LLC acquired a new stake in Edwards Lifesciences in the 3rd quarter valued at approximately $32,000. Avior Wealth Management LLC boosted its position in Edwards Lifesciences by 138.7% during the 3rd quarter. Avior Wealth Management LLC now owns 530 shares of the medical research company’s stock worth $35,000 after acquiring an additional 308 shares during the last quarter. HHM Wealth Advisors LLC bought a new position in shares of Edwards Lifesciences during the 2nd quarter worth approximately $55,000. Finally, Peoples Bank KS bought a new position in shares of Edwards Lifesciences during the 3rd quarter worth approximately $40,000. 79.46% of the stock is owned by institutional investors and hedge funds.

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.