Edwards Lifesciences (NYSE:EW) Stock Price Expected to Rise, The Goldman Sachs Group Analyst Says

Edwards Lifesciences (NYSE:EW) had its price objective hoisted by The Goldman Sachs Group from $81.00 to $90.00 in a research note issued on Thursday,Benzinga reports. The firm presently has a “buy” rating on the medical research company’s stock. The Goldman Sachs Group’s price objective suggests a potential upside of 25.82% from the company’s current price.

Several other brokerages also recently commented on EW. Jefferies Financial Group downgraded shares of Edwards Lifesciences from a “buy” rating to a “hold” rating and cut their price objective for the company from $85.00 to $70.00 in a research report on Wednesday, September 18th. Citigroup lowered their price objective on Edwards Lifesciences from $83.00 to $77.00 and set a “buy” rating on the stock in a research report on Tuesday, October 1st. Truist Financial restated a “hold” rating and issued a $78.00 price target (up previously from $70.00) on shares of Edwards Lifesciences in a research note on Thursday. Morgan Stanley reaffirmed an “equal weight” rating and set a $70.00 price objective on shares of Edwards Lifesciences in a research report on Friday, October 11th. Finally, Sanford C. Bernstein upgraded shares of Edwards Lifesciences from a “strong sell” rating to a “hold” rating in a research note on Monday, October 28th. Seventeen research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $78.35.

Edwards Lifesciences Stock Down 1.2 %

Shares of NYSE:EW opened at $71.53 on Thursday. The stock has a market capitalization of $42.19 billion, a P/E ratio of 10.32, a price-to-earnings-growth ratio of 3.95 and a beta of 1.12. The stock’s 50-day moving average price is $68.55 and its 200-day moving average price is $74.76. The company has a current ratio of 3.46, a quick ratio of 2.89 and a debt-to-equity ratio of 0.06. Edwards Lifesciences has a 12-month low of $58.93 and a 12-month high of $96.12.

Edwards Lifesciences (NYSE:EW) last released its quarterly earnings data 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 return on equity of 20.76% and a net margin of 70.82%. The firm had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.57 billion. During the same quarter in the prior year, the firm posted $0.59 earnings per share. The business’s quarterly revenue was up 8.9% compared to the same quarter last year. On average, equities analysts anticipate that Edwards Lifesciences will post 2.57 earnings per share for the current year.

Insider Buying and Selling

In related news, VP Donald E. Bobo, Jr. sold 5,000 shares of Edwards Lifesciences stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $65.57, for a total value of $327,850.00. Following the sale, the vice president now directly owns 46,936 shares in the company, valued at $3,077,593.52. The trade was a 9.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Larry L. Wood sold 25,000 shares of the business’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $65.91, for a total transaction of $1,647,750.00. Following the sale, the insider now owns 198,526 shares in the company, valued at $13,084,848.66. The trade was a 11.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 40,000 shares of company stock valued at $2,657,000 over the last quarter. 1.29% of the stock is currently owned by insiders.

Institutional Trading of Edwards Lifesciences

Large investors have recently modified their holdings of the business. Wellington Management Group LLP raised its holdings in shares of Edwards Lifesciences by 86.3% in the third quarter. Wellington Management Group LLP now owns 31,532,725 shares of the medical research company’s stock worth $2,080,845,000 after acquiring an additional 14,610,123 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its position in Edwards Lifesciences by 239.9% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 3,693,663 shares of the medical research company’s stock worth $243,745,000 after purchasing an additional 2,606,950 shares in the last quarter. Bank of New York Mellon Corp raised its stake in 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 purchasing an additional 809,605 shares during the last quarter. Fisher Asset Management LLC lifted its holdings in Edwards Lifesciences by 9.8% in the 3rd quarter. Fisher Asset Management LLC now owns 9,078,311 shares of the medical research company’s stock valued at $599,078,000 after purchasing an additional 806,705 shares in the last quarter. Finally, Worldquant Millennium Advisors LLC acquired a new stake in shares of Edwards Lifesciences during the 3rd quarter worth about $39,628,000. 79.46% of the stock is currently 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.