Edwards Lifesciences (NYSE:EW) Cut to Hold at Daiwa America

Daiwa America lowered shares of Edwards Lifesciences (NYSE:EW) from a strong-buy rating to a hold rating in a research report released on Wednesday, Zacks.com reports.

A number of other equities analysts also recently issued reports on the company. Robert W. Baird cut their target price on Edwards Lifesciences from $73.00 to $68.00 and set a “neutral” rating for the company in a research note on Friday, October 25th. Evercore ISI cut their target price on Edwards Lifesciences from $76.00 to $70.00 and set an “in-line” rating for the company in a research note on Tuesday, October 1st. Truist Financial cut their target price on Edwards Lifesciences from $71.00 to $70.00 and set a “hold” rating for the company in a research note on Friday, October 25th. Baird R W downgraded Edwards Lifesciences from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 25th. Finally, Sanford C. Bernstein raised Edwards Lifesciences from a “strong sell” rating to a “hold” rating in a research note on Monday, October 28th. Seventeen investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $75.67.

Edwards Lifesciences Stock Up 0.8 %

Edwards Lifesciences stock opened at $67.54 on Wednesday. Edwards Lifesciences has a twelve month low of $58.93 and a twelve month high of $96.12. The stock has a 50 day moving average of $67.92 and a two-hundred day moving average of $77.69. The company has a current ratio of 3.71, a quick ratio of 2.87 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $40.69 billion, a price-to-earnings ratio of 9.75, a PEG ratio of 3.86 and a beta of 1.13.

Edwards Lifesciences (NYSE:EW) last posted its quarterly earnings data on Thursday, October 24th. The medical research company reported $0.67 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.67. Edwards Lifesciences had a return on equity of 22.56% and a net margin of 70.82%. The company had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.57 billion. During the same period last year, the firm earned $0.59 EPS. The firm’s revenue for the quarter was up 8.9% on a year-over-year basis. As a group, research analysts expect that Edwards Lifesciences will post 2.57 earnings per share for the current year.

Insider Activity at Edwards Lifesciences

In related news, VP Donald E. Bobo, Jr. sold 5,000 shares of Edwards Lifesciences stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $66.08, for a total value of $330,400.00. Following the transaction, the vice president now owns 46,936 shares in the company, valued at approximately $3,101,530.88. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 firm’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $66.08, for a total value of $330,400.00. Following the completion of the transaction, the vice president now directly owns 46,936 shares in the company, valued at $3,101,530.88. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 16,250 shares of company stock worth $1,099,238. 1.29% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Crewe Advisors LLC purchased a new position in Edwards Lifesciences in the first quarter valued at about $28,000. First Community Trust NA purchased a new stake in shares of Edwards Lifesciences during the second quarter worth about $29,000. Webster Bank N. A. purchased a new stake in shares of Edwards Lifesciences during the second quarter worth about $39,000. Peoples Bank KS purchased a new stake in shares of Edwards Lifesciences during the third quarter worth about $40,000. Finally, Versant Capital Management Inc increased its position in shares of Edwards Lifesciences by 206.3% during the second quarter. Versant Capital Management Inc now owns 484 shares of the medical research company’s stock worth $45,000 after acquiring an additional 326 shares during the last quarter. 79.46% of the stock is 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.