Edwards Lifesciences (NYSE:EW) Given New $91.00 Price Target at Evercore ISI

Edwards Lifesciences (NYSE:EW) had its price objective lifted by Evercore ISI from $89.00 to $91.00 in a research report released on Tuesday, Benzinga reports. The brokerage currently has an in-line rating on the medical research company’s stock.

Other equities analysts have also issued research reports about the stock. Stifel Nicolaus increased their price target on shares of Edwards Lifesciences from $83.00 to $85.00 and gave the stock a hold rating in a report on Friday, April 26th. Deutsche Bank Aktiengesellschaft raised shares of Edwards Lifesciences from a hold rating to a buy rating and increased their target price for the company from $86.00 to $103.00 in a report on Tuesday, May 14th. Citigroup raised shares of Edwards Lifesciences from a neutral rating to a buy rating and increased their target price for the company from $98.00 to $105.00 in a report on Wednesday, May 22nd. Wells Fargo & Company increased their target price on shares of Edwards Lifesciences from $94.00 to $99.00 and gave the company an overweight rating in a report on Friday, April 26th. Finally, Royal Bank of Canada increased their target price on shares of Edwards Lifesciences from $95.00 to $101.00 and gave the company an outperform rating in a report on Monday, April 15th. One analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus target price of $95.18.

Edwards Lifesciences Stock Up 1.1 %

EW opened at $91.27 on Tuesday. The company has a quick ratio of 2.67, a current ratio of 3.75 and a debt-to-equity ratio of 0.08. The stock has a market cap of $55.00 billion, a price-to-earnings ratio of 39.32, a PEG ratio of 3.38 and a beta of 1.11. Edwards Lifesciences has a twelve month low of $60.57 and a twelve month high of $96.12. The company’s 50-day moving average price is $87.92 and its two-hundred day moving average price is $85.46.

Edwards Lifesciences (NYSE:EW) last released its earnings results on Thursday, April 25th. The medical research company reported $0.66 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.02. The firm had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.58 billion. Edwards Lifesciences had a net margin of 23.01% and a return on equity of 22.86%. As a group, equities analysts expect that Edwards Lifesciences will post 2.77 earnings per share for the current year.

Insider Buying and Selling at Edwards Lifesciences

In other Edwards Lifesciences news, Director Michael A. Mussallem sold 29,350 shares of Edwards Lifesciences stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $92.42, for a total transaction of $2,712,527.00. Following the transaction, the director now owns 4,486 shares of the company’s stock, valued at $414,596.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Michael A. Mussallem sold 29,350 shares of the business’s stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $92.42, for a total value of $2,712,527.00. Following the transaction, the director now owns 4,486 shares of the company’s stock, valued at $414,596.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Bernard J. Zovighian bought 580 shares of the stock in a transaction dated Monday, May 6th. The stock was bought at an average cost of $85.74 per share, for a total transaction of $49,729.20. Following the acquisition, the chief executive officer now directly owns 3,268 shares of the company’s stock, valued at approximately $280,198.32. The disclosure for this purchase can be found here. Insiders have sold 119,849 shares of company stock valued at $10,579,038 over the last 90 days. 1.27% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased its position in Edwards Lifesciences by 1.1% during the first quarter. Vanguard Group Inc. now owns 52,964,394 shares of the medical research company’s stock valued at $5,061,277,000 after acquiring an additional 600,994 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Edwards Lifesciences by 9.5% in the first quarter. Bank of New York Mellon Corp now owns 18,973,304 shares of the medical research company’s stock worth $1,813,089,000 after purchasing an additional 1,644,869 shares during the last quarter. Brown Advisory Inc. grew its holdings in shares of Edwards Lifesciences by 20.1% in the fourth quarter. Brown Advisory Inc. now owns 18,181,420 shares of the medical research company’s stock worth $1,386,333,000 after purchasing an additional 3,048,274 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of Edwards Lifesciences by 2.4% in the fourth quarter. Wellington Management Group LLP now owns 16,827,510 shares of the medical research company’s stock worth $1,283,098,000 after purchasing an additional 393,109 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Edwards Lifesciences in the fourth quarter worth about $648,540,000. 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.