Evercore ISI Lowers Edwards Lifesciences (NYSE:EW) Price Target to $70.00

Edwards Lifesciences (NYSE:EW) had its price objective cut by equities research analysts at Evercore ISI from $76.00 to $70.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage presently has an “in-line” rating on the medical research company’s stock. Evercore ISI’s price objective would suggest a potential upside of 6.72% from the company’s current price.

Several other equities research analysts also recently commented on the company. Wolfe Research raised Edwards Lifesciences from an “underperform” rating to a “peer perform” rating in a report on Monday, July 29th. Wells Fargo & Company reduced their target price on Edwards Lifesciences from $90.00 to $80.00 and set an “overweight” rating for the company in a report on Monday, September 9th. Baird R W downgraded Edwards Lifesciences from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 25th. TD Cowen downgraded Edwards Lifesciences from a “buy” rating to a “hold” rating and reduced their target price for the company from $100.00 to $70.00 in a report on Thursday, July 25th. Finally, JPMorgan Chase & Co. downgraded Edwards Lifesciences from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $105.00 to $72.00 in a research note on Thursday, July 25th. Sixteen investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $78.23.

Edwards Lifesciences Stock Performance

Shares of NYSE:EW traded down $0.40 on Tuesday, hitting $65.59. The company’s stock had a trading volume of 1,708,766 shares, compared to its average volume of 4,490,429. Edwards Lifesciences has a 12 month low of $58.93 and a 12 month high of $96.12. The company has a market capitalization of $39.52 billion, a price-to-earnings ratio of 28.28, a price-to-earnings-growth ratio of 2.80 and a beta of 1.13. The stock’s 50-day moving average is $67.34 and its two-hundred day moving average is $81.69. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.87 and a current ratio of 3.71.

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

Insider Buying and Selling at Edwards Lifesciences

In other Edwards Lifesciences news, VP Donald E. Bobo, Jr. sold 5,000 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the vice president now owns 46,936 shares in the company, valued at approximately $3,133,916.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, VP Donald E. Bobo, Jr. sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $66.77, for a total transaction 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Daveen Chopra sold 1,250 shares of the firm’s stock in a transaction that occurred 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 approximately $2,051,843.35. The disclosure for this sale can be found here. Insiders have sold 16,250 shares of company stock valued at $1,218,138 in the last 90 days. 1.29% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Edwards Lifesciences

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in Edwards Lifesciences by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 52,964,394 shares of the medical research company’s stock valued at $5,061,277,000 after purchasing an additional 600,994 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Edwards Lifesciences by 4.3% in the 2nd 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 buying an additional 809,605 shares during the period. Wellington Management Group LLP increased its stake in shares of Edwards Lifesciences by 2.4% in the 4th quarter. Wellington Management Group LLP now owns 16,827,510 shares of the medical research company’s stock valued at $1,283,098,000 after buying an additional 393,109 shares during the period. Price T Rowe Associates Inc. MD increased its stake in shares of Edwards Lifesciences by 57.9% in the 1st 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 buying an additional 2,390,137 shares during the period. Finally, Champlain Investment Partners LLC increased its stake in shares of Edwards Lifesciences by 3.1% in the 1st quarter. Champlain Investment Partners LLC now owns 2,964,168 shares of the medical research company’s stock valued at $283,256,000 after buying an additional 88,205 shares during the period. 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.