Edwards Lifesciences (NYSE:EW) Price Target Cut to $71.00

Edwards Lifesciences (NYSE:EW) had its price target reduced by analysts at Truist Financial from $82.00 to $71.00 in a research note issued on Friday, Benzinga reports. The brokerage currently has a “hold” rating on the medical research company’s stock. Truist Financial’s price objective would suggest a potential upside of 3.62% from the stock’s current price.

Other analysts have also issued research reports about the stock. UBS Group dropped their price target on shares of Edwards Lifesciences from $90.00 to $75.00 and set a “neutral” rating for the company in a research note on Tuesday, September 10th. Royal Bank of Canada dropped their target price on shares of Edwards Lifesciences from $101.00 to $85.00 and set an “outperform” rating on the stock in a report on Thursday, July 25th. Piper Sandler cut their target price on shares of Edwards Lifesciences from $88.00 to $73.00 and set a “neutral” rating on the stock in a report on Thursday, July 25th. JPMorgan Chase & Co. cut Edwards Lifesciences from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $105.00 to $72.00 in a research note on Thursday, July 25th. Finally, StockNews.com downgraded shares of Edwards Lifesciences from a “buy” rating to a “hold” rating in a report on Thursday, July 25th. Fifteen research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $80.29.

Edwards Lifesciences Price Performance

Shares of NYSE:EW opened at $68.52 on Friday. Edwards Lifesciences has a 12 month low of $58.93 and a 12 month high of $96.12. The firm has a market capitalization of $41.28 billion, a price-to-earnings ratio of 29.53, a price-to-earnings-growth ratio of 2.85 and a beta of 1.13. The business’s 50 day simple moving average is $72.39 and its 200-day simple moving average is $83.47. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.71 and a quick ratio of 2.87.

Edwards Lifesciences (NYSE:EW) last posted its quarterly earnings data on Wednesday, July 24th. The medical research company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.01. Edwards Lifesciences had a return on equity of 22.35% and a net margin of 24.55%. The business had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.65 billion. During the same quarter last year, the company earned $0.66 earnings per share. The business’s revenue for the quarter was up 6.7% compared to the same quarter last year. As a group, equities analysts forecast that Edwards Lifesciences will post 2.7 earnings per share for the current fiscal 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 on Wednesday, September 11th. The stock was sold at an average price of $66.77, for a total value of $333,850.00. Following the sale, the vice president now directly owns 46,936 shares in the company, valued at $3,133,916.72. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, VP Daveen Chopra sold 1,250 shares of the stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $69.95, for a total value of $87,437.50. Following the transaction, the vice president now owns 29,333 shares of the company’s stock, valued at $2,051,843.35. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Donald E. Bobo, Jr. sold 5,000 shares of Edwards Lifesciences stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $66.77, for a total value of $333,850.00. Following the completion of the transaction, the vice president now owns 46,936 shares in the company, valued at approximately $3,133,916.72. The disclosure for this sale can be found here. Insiders have sold 16,250 shares of company stock valued at $1,218,138 over the last ninety days. Corporate insiders own 1.29% of the company’s stock.

Institutional Trading of Edwards Lifesciences

A number of hedge funds have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC lifted its position in Edwards Lifesciences by 4.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 330,711 shares of the medical research company’s stock valued at $31,603,000 after purchasing an additional 14,087 shares in the last quarter. Empowered Funds LLC grew its stake in Edwards Lifesciences by 151.2% during the first quarter. Empowered Funds LLC now owns 20,123 shares of the medical research company’s stock valued at $1,923,000 after acquiring an additional 12,112 shares in the last quarter. Cetera Advisors LLC lifted its stake in Edwards Lifesciences by 175.1% in the 1st quarter. Cetera Advisors LLC now owns 38,090 shares of the medical research company’s stock worth $3,640,000 after purchasing an additional 24,242 shares in the last quarter. TD Asset Management Inc grew its position in shares of Edwards Lifesciences by 95.1% during the fourth quarter. TD Asset Management Inc now owns 1,323,611 shares of the medical research company’s stock valued at $100,925,000 after purchasing an additional 645,204 shares in the last quarter. Finally, Sei Investments Co. increased its holdings in shares of Edwards Lifesciences by 10.8% in the fourth quarter. Sei Investments Co. now owns 558,031 shares of the medical research company’s stock worth $42,550,000 after purchasing an additional 54,595 shares during the last quarter. 79.46% of the stock is owned by institutional investors.

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.