Edwards Lifesciences (NYSE:EW) Earns Hold Rating from Truist Financial

Edwards Lifesciences (NYSE:EW)‘s stock had its “hold” rating reissued by equities research analysts at Truist Financial in a report issued on Thursday,Benzinga reports. They presently have a $78.00 price target on the medical research company’s stock, up from their prior price target of $70.00. Truist Financial’s price target indicates a potential upside of 9.05% from the company’s current price.

A number of other equities research analysts have also recently commented on the company. Stifel Nicolaus increased their target price on Edwards Lifesciences from $70.00 to $75.00 and gave the stock a “hold” rating in a research note on Thursday. Sanford C. Bernstein raised shares of Edwards Lifesciences from a “strong sell” rating to a “hold” rating in a research report on Monday, October 28th. Oppenheimer reaffirmed an “outperform” rating and issued a $90.00 target price on shares of Edwards Lifesciences in a report on Thursday, September 12th. Jefferies Financial Group cut shares of Edwards Lifesciences from a “buy” rating to a “hold” rating and cut their price target for the company from $85.00 to $70.00 in a report on Wednesday, September 18th. Finally, Daiwa America lowered shares of Edwards Lifesciences from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 30th. Seventeen investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $78.35.

Edwards Lifesciences Stock Down 1.2 %

Shares of Edwards Lifesciences stock opened at $71.53 on Thursday. Edwards Lifesciences has a 1 year low of $58.93 and a 1 year high of $96.12. The firm has a market cap of $42.19 billion, a price-to-earnings ratio of 10.32, a PEG ratio of 3.95 and a beta of 1.12. The company has a 50-day moving average of $68.55 and a 200 day moving average of $74.76. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.46 and a quick ratio of 2.89.

Edwards Lifesciences (NYSE:EW) last announced its earnings results on Thursday, October 24th. The medical research company reported $0.67 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.67. Edwards Lifesciences had a net margin of 70.82% and a return on equity of 20.76%. The business had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.57 billion. During the same quarter last year, the firm earned $0.59 earnings per share. The business’s revenue for the quarter was up 8.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Edwards Lifesciences will post 2.57 earnings per share for the current fiscal year.

Insider Transactions at Edwards Lifesciences

In other Edwards Lifesciences news, insider Larry L. Wood sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $65.91, for a total value of $1,647,750.00. Following the completion of the transaction, the insider now directly owns 198,526 shares in the company, valued at $13,084,848.66. This represents a 11.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Donald E. Bobo, Jr. sold 5,000 shares of Edwards Lifesciences stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $66.77, for a total transaction of $333,850.00. Following the transaction, the vice president now owns 46,936 shares in the company, valued at approximately $3,133,916.72. This trade represents a 9.63 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 40,000 shares of company stock worth $2,657,000 in the last three months. Corporate insiders own 1.29% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Lantz Financial LLC increased its holdings in shares of Edwards Lifesciences by 25.3% in the 2nd quarter. Lantz Financial LLC now owns 3,236 shares of the medical research company’s stock worth $299,000 after buying an additional 654 shares during the last quarter. Valeo Financial Advisors LLC raised its position in Edwards Lifesciences by 7.4% during the second quarter. Valeo Financial Advisors LLC now owns 5,133 shares of the medical research company’s stock valued at $474,000 after purchasing an additional 354 shares during the period. Webster Bank N. A. bought a new stake in shares of Edwards Lifesciences in the 2nd quarter valued at approximately $39,000. QRG Capital Management Inc. boosted its holdings in shares of Edwards Lifesciences by 4.3% in the 2nd quarter. QRG Capital Management Inc. now owns 46,353 shares of the medical research company’s stock worth $4,282,000 after purchasing an additional 1,898 shares during the period. Finally, Opal Wealth Advisors LLC bought a new position in shares of Edwards Lifesciences during the 2nd quarter valued at approximately $137,000. Hedge funds and other 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.