Edwards Lifesciences (NYSE:EW) PT Lowered to $75.00 at Royal Bank of Canada

Edwards Lifesciences (NYSE:EW) had its target price dropped by Royal Bank of Canada from $85.00 to $75.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage presently has an “outperform” rating on the medical research company’s stock. Royal Bank of Canada’s price objective suggests a potential upside of 9.52% from the company’s previous close.

A number of other equities research analysts have also recently issued reports on the stock. Citigroup cut their price objective on shares of Edwards Lifesciences from $83.00 to $77.00 and set a “buy” rating for the company in a research note on Tuesday, October 1st. Evercore ISI cut their price objective on shares of Edwards Lifesciences from $76.00 to $70.00 and set an “in-line” rating on the stock in a report on Tuesday, October 1st. Stifel Nicolaus dropped their target price on shares of Edwards Lifesciences from $85.00 to $70.00 and set a “hold” rating on the stock in a research note on Thursday, July 25th. Oppenheimer reissued an “outperform” rating and set a $90.00 price objective on shares of Edwards Lifesciences in a report on Thursday, September 12th. Finally, Baird R W lowered Edwards Lifesciences from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 25th. Sixteen analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $77.27.

Edwards Lifesciences Stock Up 6.1 %

Shares of NYSE:EW traded up $3.94 during midday trading on Tuesday, hitting $68.48. 7,637,020 shares of the company’s stock were exchanged, compared to its average volume of 4,568,624. The company has a market cap of $41.27 billion, a PE ratio of 29.55, a price-to-earnings-growth ratio of 2.80 and a beta of 1.13. The stock has a 50 day moving average price of $66.66 and a 200-day moving average price of $80.70. Edwards Lifesciences has a 12 month low of $58.93 and a 12 month high of $96.12. 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 released its earnings results on Wednesday, July 24th. The medical research company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.01. Edwards Lifesciences had a return on equity of 22.35% and a net margin of 24.55%. The company had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.65 billion. During the same period in the prior year, the company posted $0.66 earnings per share. Edwards Lifesciences’s quarterly revenue was up 6.7% on a year-over-year basis. On average, sell-side analysts anticipate that Edwards Lifesciences will post 2.71 EPS for the current fiscal year.

Insider Activity

In related news, VP Donald E. Bobo, Jr. sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $93.29, for a total transaction of $466,450.00. Following the completion of the sale, the vice president now directly owns 46,936 shares of the company’s stock, valued at approximately $4,378,659.44. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, VP Daveen Chopra sold 1,250 shares of the stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $69.95, for a total transaction of $87,437.50. Following the completion of the sale, the vice president now owns 29,333 shares in the company, valued at $2,051,843.35. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Donald E. Bobo, Jr. sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $93.29, for a total value of $466,450.00. Following the transaction, the vice president now directly owns 46,936 shares in the company, valued at approximately $4,378,659.44. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 16,250 shares of company stock valued at $1,218,138. 1.29% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Edwards Lifesciences

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD lifted its holdings in shares of Edwards Lifesciences by 57.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,516,260 shares of the medical research company’s stock worth $622,695,000 after acquiring an additional 2,390,137 shares during the period. CCLA Investment Management boosted its position in Edwards Lifesciences by 100,739.7% during the 1st quarter. CCLA Investment Management now owns 1,406,714 shares of the medical research company’s stock worth $134,092,000 after purchasing an additional 1,405,319 shares during the period. Swedbank AB acquired a new stake in Edwards Lifesciences in the 1st quarter valued at $124,511,000. Sei Investments Co. lifted 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 worth $140,064,000 after purchasing an additional 907,688 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in Edwards Lifesciences by 4.3% in 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 in the last quarter. 79.46% of the stock is owned by institutional investors and hedge funds.

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.