Edwards Lifesciences (NYSE:EW) Price Target Cut to $70.00 by Analysts at Stifel Nicolaus

by · The Markets Daily

Edwards Lifesciences (NYSE:EW – Free Report) had its target price decreased by Stifel Nicolaus from $85.00 to $70.00 in a research note published on Thursday morning, Benzinga reports. Stifel Nicolaus currently has a hold rating on the medical research company’s stock.

A number of other analysts also recently issued reports on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of Edwards Lifesciences from a hold rating to a buy rating and increased their target price for the stock from $86.00 to $103.00 in a research report on Tuesday, May 14th. Truist Financial downgraded Edwards Lifesciences from a buy rating to a hold rating and reduced their price target for the stock from $110.00 to $82.00 in a research report on Thursday. Citigroup upped their target price on Edwards Lifesciences from $105.00 to $106.00 and gave the company a buy rating in a research report on Wednesday, July 10th. JPMorgan Chase & Co. cut Edwards Lifesciences from an overweight rating to a neutral rating and decreased their price target for the stock from $105.00 to $72.00 in a research report on Thursday. Finally, Canaccord Genuity Group cut their price objective on shares of Edwards Lifesciences from $85.00 to $77.00 and set a hold rating for the company in a research report on Thursday. One investment analyst has rated the stock with a sell rating, thirteen have issued 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 a consensus price target of $82.10.

Check Out Our Latest Research Report on EW

Edwards Lifesciences Price Performance

Edwards Lifesciences stock opened at $62.37 on Thursday. The company has a market capitalization of $37.58 billion, a price-to-earnings ratio of 26.88, a PEG ratio of 2.31 and a beta of 1.11. The company has a current ratio of 3.71, a quick ratio of 2.67 and a debt-to-equity ratio of 0.08. Edwards Lifesciences has a 12 month low of $58.93 and a 12 month high of $96.12. The stock’s 50 day moving average is $87.98 and its 200-day moving average is $86.99.

Edwards Lifesciences (NYSE:EW – Get Free Report) last issued its quarterly earnings data on Wednesday, July 24th. The medical research company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.01. Edwards Lifesciences had a return on equity of 22.35% and a net margin of 24.55%. The firm had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.65 billion. During the same period in the prior year, the firm posted $0.66 EPS. The company’s revenue for the quarter was up 6.7% on a year-over-year basis. Equities research analysts expect that Edwards Lifesciences will post 2.71 EPS for the current year.

Insider Activity at Edwards Lifesciences

In other news, CFO Scott B. Ullem sold 7,250 shares of the stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $85.80, for a total transaction of $622,050.00. Following the completion of the sale, the chief financial officer now directly owns 19,074 shares in the company, valued at $1,636,549.20. The transaction was disclosed in a filing with the SEC, which is available at this link. In other Edwards Lifesciences news, CFO Scott B. Ullem sold 7,250 shares of the stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $85.80, for a total transaction of $622,050.00. Following the completion of the sale, the chief financial officer now directly owns 19,074 shares in the company, valued at approximately $1,636,549.20. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Jean-Luc M. Lemercier sold 14,400 shares of Edwards Lifesciences stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $84.21, for a total value of $1,212,624.00. Following the completion of the transaction, the vice president now directly owns 173,849 shares of the company’s stock, valued at $14,639,824.29. The disclosure for this sale can be found here. Insiders have sold 81,099 shares of company stock worth $7,003,553 over the last ninety days. Insiders own 1.29% of the company’s stock.

Hedge Funds Weigh In On Edwards Lifesciences

Institutional investors and hedge funds have recently modified their holdings of the business. Park Avenue Securities LLC boosted its stake in 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 worth $2,169,000 after acquiring an additional 108 shares in the last quarter. Martin Capital Advisors LLP boosted its position in shares of Edwards Lifesciences by 0.5% during the 4th quarter. Martin Capital Advisors LLP now owns 25,490 shares of the medical research company’s stock worth $1,944,000 after purchasing an additional 128 shares in the last quarter. City State Bank grew its stake in shares of Edwards Lifesciences by 16.5% in the 2nd quarter. City State Bank now owns 917 shares of the medical research company’s stock valued at $85,000 after buying an additional 130 shares during the period. Chapin Davis Inc. boosted its holdings in Edwards Lifesciences by 1.7% in the first quarter. Chapin Davis Inc. now owns 8,548 shares of the medical research company’s stock worth $817,000 after acquiring an additional 140 shares in the last quarter. Finally, Johnson Financial Group Inc. lifted its holdings in shares of Edwards Lifesciences by 23.0% in the 4th quarter. Johnson Financial Group Inc. now owns 771 shares of the medical research company’s stock worth $59,000 after purchasing an additional 144 shares in the last quarter. 79.46% of the stock is currently owned by institutional investors.

About Edwards Lifesciences

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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.

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