Edwards Lifesciences (NYSE:EW) Rating Reiterated by Morgan Stanley

Edwards Lifesciences (NYSE:EW)‘s stock had its “equal weight” rating reiterated by equities researchers at Morgan Stanley in a research report issued on Friday, Marketbeat reports. They presently have a $70.00 price objective on the medical research company’s stock. Morgan Stanley’s target price points to a potential upside of 2.74% from the stock’s previous close.

A number of other research firms also recently issued reports on EW. Stifel Nicolaus reduced their price target on shares of Edwards Lifesciences from $85.00 to $70.00 and set a “hold” rating for the company in a research report on Thursday, July 25th. StockNews.com lowered Edwards Lifesciences from a “buy” rating to a “hold” rating in a report on Thursday, July 25th. Barclays cut their price target on Edwards Lifesciences from $90.00 to $80.00 and set an “overweight” rating for the company in a research note on Monday, September 9th. Bank of America cut shares of Edwards Lifesciences from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $105.00 to $75.00 in a research note on Thursday, July 25th. Finally, Wolfe Research upgraded shares of Edwards Lifesciences from an “underperform” rating to a “peer perform” rating in a research report on Monday, July 29th. Seventeen research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $75.77.

Edwards Lifesciences Stock Down 0.2 %

Edwards Lifesciences stock opened at $68.13 on Friday. The company has a current ratio of 3.71, a quick ratio of 2.87 and a debt-to-equity ratio of 0.08. Edwards Lifesciences has a twelve month low of $58.93 and a twelve month high of $96.12. The firm has a market capitalization of $41.06 billion, a P/E ratio of 29.37, a P/E/G ratio of 2.83 and a beta of 1.13. The stock’s fifty day simple moving average is $67.13 and its 200-day simple moving average is $80.08.

Edwards Lifesciences (NYSE:EW) last posted its quarterly earnings data on Wednesday, July 24th. The medical research company reported $0.70 EPS for the quarter, beating the consensus estimate 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 firm’s revenue was up 6.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.66 EPS. As a group, equities analysts expect that Edwards Lifesciences will post 2.71 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Edwards Lifesciences news, VP Donald E. Bobo, Jr. sold 5,000 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $3,101,530.88. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Edwards Lifesciences news, VP Daveen Chopra sold 1,250 shares of the firm’s stock in a transaction dated 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 directly owns 29,333 shares of the company’s stock, valued at $2,051,843.35. This trade represents a 0.00 % 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 the company’s stock in a transaction dated Wednesday, August 14th. The stock was 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 of the company’s stock, valued at $3,101,530.88. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 11,250 shares of company stock valued at $751,688. 1.29% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Edwards Lifesciences

Several hedge funds have recently modified their holdings of the stock. Park Avenue Securities LLC raised its stake in shares of Edwards Lifesciences by 0.5% during the second quarter. Park Avenue Securities LLC now owns 23,484 shares of the medical research company’s stock valued at $2,169,000 after purchasing an additional 108 shares during the period. City State Bank lifted its holdings in Edwards Lifesciences by 16.5% in the 2nd quarter. City State Bank now owns 917 shares of the medical research company’s stock worth $85,000 after buying an additional 130 shares in the last quarter. Chapin Davis Inc. boosted its position in Edwards Lifesciences by 1.7% in the 1st quarter. Chapin Davis Inc. now owns 8,548 shares of the medical research company’s stock valued at $817,000 after buying an additional 140 shares during the last quarter. Valley National Advisers Inc. grew its stake in shares of Edwards Lifesciences by 6.0% during the first quarter. Valley National Advisers Inc. now owns 2,677 shares of the medical research company’s stock valued at $255,000 after acquiring an additional 152 shares in the last quarter. Finally, Choreo LLC increased its position in shares of Edwards Lifesciences by 4.1% during the first quarter. Choreo LLC now owns 3,840 shares of the medical research company’s stock worth $367,000 after acquiring an additional 153 shares during the last quarter. 79.46% of the stock is currently owned by hedge funds and other institutional investors.

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.