Edwards Lifesciences (NYSE:EW) PT Lowered to $77.00 at Canaccord Genuity Group

Edwards Lifesciences (NYSE:EW) had its price objective lowered by investment analysts at Canaccord Genuity Group from $85.00 to $77.00 in a research report issued on Thursday, Benzinga reports. The firm currently has a “hold” rating on the medical research company’s stock. Canaccord Genuity Group’s target price points to a potential downside of 11.44% from the stock’s current price.

Several other analysts also recently weighed in on EW. Piper Sandler decreased their price target on shares of Edwards Lifesciences from $88.00 to $73.00 and set a “neutral” rating for the company in a research note on Thursday. Mizuho boosted their price objective on shares of Edwards Lifesciences from $95.00 to $105.00 and gave the stock a “buy” rating in a research note on Thursday, April 11th. StockNews.com raised shares of Edwards Lifesciences from a “hold” rating to a “buy” rating in a research note on Thursday, June 27th. Deutsche Bank Aktiengesellschaft raised shares of Edwards Lifesciences from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $86.00 to $103.00 in a research note on Tuesday, May 14th. Finally, Evercore ISI boosted their price objective on shares of Edwards Lifesciences from $89.00 to $91.00 and gave the stock an “in-line” rating in a research note on Tuesday, July 2nd. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, Edwards Lifesciences currently has an average rating of “Hold” and a consensus target price of $89.45.

Edwards Lifesciences Stock Down 0.1 %

Shares of NYSE EW opened at $86.95 on Thursday. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.75 and a quick ratio of 2.67. The company has a market cap of $52.40 billion, a P/E ratio of 37.48, a PEG ratio of 3.19 and a beta of 1.11. Edwards Lifesciences has a 1 year low of $60.57 and a 1 year high of $96.12. The firm has a 50-day simple moving average of $89.12 and a two-hundred day simple moving average of $87.12.

Edwards Lifesciences (NYSE:EW) last posted its quarterly earnings results on Wednesday, July 24th. The medical research company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.01. Edwards Lifesciences had a net margin of 23.01% and a return on equity of 22.86%. The firm had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.65 billion. During the same quarter in the previous year, the firm posted $0.66 earnings per share. The company’s revenue was up 6.7% on a year-over-year basis. Research analysts anticipate that Edwards Lifesciences will post 2.77 earnings per share for the current year.

Insider Activity

In related news, CEO Bernard J. Zovighian acquired 580 shares of the company’s stock in a transaction dated Monday, May 6th. The shares were purchased at an average cost of $85.74 per share, with a total value of $49,729.20. Following the completion of the acquisition, the chief executive officer now directly owns 3,268 shares of the company’s stock, valued at $280,198.32. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CEO Bernard J. Zovighian acquired 580 shares of the company’s stock in a transaction dated Monday, May 6th. The shares were purchased at an average cost of $85.74 per share, with a total value of $49,729.20. Following the completion of the acquisition, the chief executive officer now directly owns 3,268 shares of the company’s stock, valued at $280,198.32. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Michael A. Mussallem sold 29,350 shares of the business’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $84.77, for a total transaction of $2,487,999.50. Following the sale, the director now directly owns 4,486 shares in the company, valued at $380,278.22. The disclosure for this sale can be found here. Insiders have sold 81,099 shares of company stock valued at $7,003,553 over the last ninety days. 1.29% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC lifted its position in Edwards Lifesciences by 4.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 330,711 shares of the medical research company’s stock valued at $31,603,000 after purchasing an additional 14,087 shares during the period. Empowered Funds LLC lifted its position in Edwards Lifesciences by 151.2% during the first quarter. Empowered Funds LLC now owns 20,123 shares of the medical research company’s stock valued at $1,923,000 after purchasing an additional 12,112 shares during the period. Telos Capital Management Inc. lifted its position in Edwards Lifesciences by 158.2% during the fourth quarter. Telos Capital Management Inc. now owns 91,405 shares of the medical research company’s stock valued at $6,970,000 after purchasing an additional 56,000 shares during the period. Arlington Trust Co LLC lifted its position in Edwards Lifesciences by 5,092.4% during the fourth quarter. Arlington Trust Co LLC now owns 12,306 shares of the medical research company’s stock valued at $938,000 after purchasing an additional 12,069 shares during the period. Finally, HealthInvest Partners AB acquired a new position in Edwards Lifesciences during the fourth quarter valued at $1,587,000. 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.