Edwards Lifesciences (NYSE:EW) Price Target Lowered to $77.00 at Citigroup

Edwards Lifesciences (NYSE:EW) had its price target cut by equities research analysts at Citigroup from $83.00 to $77.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the medical research company’s stock. Citigroup’s price objective suggests a potential upside of 17.40% from the company’s current price.

EW has been the subject of a number of other reports. Evercore ISI lowered their target price on Edwards Lifesciences from $76.00 to $70.00 and set an “in-line” rating for the company in a report on Tuesday. Piper Sandler lowered their target price on Edwards Lifesciences from $88.00 to $73.00 and set a “neutral” rating for the company in a report on Thursday, July 25th. Oppenheimer restated an “outperform” rating and set a $90.00 target price on shares of Edwards Lifesciences in a report on Thursday, September 12th. Robert W. Baird cut Edwards Lifesciences from an “outperform” rating to a “neutral” rating and lowered their target price for the company from $102.00 to $70.00 in a report on Thursday, July 25th. Finally, The Goldman Sachs Group lowered their target price on Edwards Lifesciences from $107.00 to $91.00 and set a “buy” rating for the company in a report on Friday, July 26th. Sixteen research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $78.23.

Edwards Lifesciences Trading Down 0.6 %

Shares of NYSE:EW traded down $0.40 during midday trading on Tuesday, reaching $65.59. 1,708,766 shares of the company’s stock were exchanged, compared to its average volume of 4,490,429. The firm’s 50 day simple moving average is $67.34 and its two-hundred day simple moving average is $81.69. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.71 and a quick ratio of 2.87. The stock has a market cap of $39.52 billion, a price-to-earnings ratio of 28.28, a P/E/G ratio of 2.80 and a beta of 1.13. Edwards Lifesciences has a fifty-two week low of $58.93 and a fifty-two week high of $96.12.

Edwards Lifesciences (NYSE:EW) last issued its quarterly earnings data on Wednesday, July 24th. The medical research company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.01. The firm had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.65 billion. Edwards Lifesciences had a return on equity of 22.35% and a net margin of 24.55%. The company’s quarterly revenue was up 6.7% on a year-over-year basis. During the same period last year, the company earned $0.66 EPS. As a group, sell-side analysts forecast that Edwards Lifesciences will post 2.71 EPS for the current fiscal year.

Insider Transactions at Edwards Lifesciences

In other news, VP Donald E. Bobo, Jr. sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $66.08, for a total transaction of $330,400.00. Following the completion of the sale, the vice president now owns 46,936 shares in the company, valued at $3,101,530.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, VP Daveen Chopra sold 1,250 shares of the company’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $69.95, for a total transaction 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Donald E. Bobo, Jr. sold 5,000 shares of the company’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $66.08, for a total value of $330,400.00. Following the completion of the sale, the vice president now directly owns 46,936 shares in the company, valued at approximately $3,101,530.88. The disclosure for this sale can be found here. Insiders sold 16,250 shares of company stock worth $1,218,138 over the last 90 days. 1.29% of the stock is currently owned by insiders.

Institutional Trading of Edwards Lifesciences

Several large investors have recently bought and sold shares of EW. Price T Rowe Associates Inc. MD grew its holdings in Edwards Lifesciences by 57.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,516,260 shares of the medical research company’s stock valued at $622,695,000 after purchasing an additional 2,390,137 shares during the last quarter. CCLA Investment Management boosted its stake in shares of Edwards Lifesciences by 100,739.7% during the first quarter. CCLA Investment Management now owns 1,406,714 shares of the medical research company’s stock valued at $134,092,000 after acquiring an additional 1,405,319 shares during the last quarter. Swedbank AB acquired a new stake in shares of Edwards Lifesciences during the first quarter valued at $124,511,000. Sei Investments Co. boosted its stake in shares of Edwards Lifesciences by 162.7% during the first quarter. Sei Investments Co. now owns 1,465,719 shares of the medical research company’s stock valued at $140,064,000 after acquiring an additional 907,688 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted 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 valued at $1,827,347,000 after acquiring an additional 809,605 shares during the last quarter. Institutional investors and hedge funds 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.