Edwards Lifesciences (NYSE:EW) Price Target Cut to $85.00 by Analysts at Royal Bank of Canada

Edwards Lifesciences (NYSE:EW) had its price objective cut by Royal Bank of Canada from $101.00 to $85.00 in a research note issued to investors on Thursday morning, Benzinga reports. They currently have an outperform rating on the medical research company’s stock.

Several other equities research analysts also recently weighed in on the stock. Piper Sandler reduced 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 report on Thursday. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Edwards Lifesciences from $103.00 to $85.00 and set a buy rating on the stock in a report on Thursday. StockNews.com upgraded shares of Edwards Lifesciences from a hold rating to a buy rating in a report on Thursday, June 27th. Canaccord Genuity Group dropped their target price on shares of Edwards Lifesciences from $85.00 to $77.00 and set a hold rating on the stock in a report on Thursday. Finally, Barclays raised their target price on shares of Edwards Lifesciences from $100.00 to $101.00 and gave the stock an overweight rating in a report on Tuesday, May 7th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of Hold and a consensus price target of $83.45.

Edwards Lifesciences Trading Up 2.1 %

Shares of EW stock opened at $60.94 on Thursday. The company’s fifty day simple moving average is $88.51 and its two-hundred day simple moving average is $86.93. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.75 and a quick ratio of 2.67. Edwards Lifesciences has a 1 year low of $58.93 and a 1 year high of $96.12. The stock has a market capitalization of $36.72 billion, a price-to-earnings ratio of 25.73, a PEG ratio of 3.18 and a beta of 1.11.

Edwards Lifesciences (NYSE:EW) last released its earnings results 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 22.86% and a net margin of 24.55%. The business had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.65 billion. During the same quarter in the prior year, the firm earned $0.66 earnings per share. The firm’s revenue was up 6.7% on a year-over-year basis. As a group, analysts anticipate that Edwards Lifesciences will post 2.77 earnings per share for the current year.

Insider Buying and Selling at Edwards Lifesciences

In other Edwards Lifesciences news, CEO Bernard J. Zovighian bought 580 shares of Edwards Lifesciences stock in a transaction dated Monday, May 6th. The shares were purchased at an average cost of $85.74 per share, for a total transaction of $49,729.20. Following the acquisition, the chief executive officer now directly owns 3,268 shares in the company, valued at approximately $280,198.32. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CEO Bernard J. Zovighian purchased 580 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The shares were bought at an average cost of $85.74 per share, for a total transaction of $49,729.20. Following the acquisition, the chief executive officer now owns 3,268 shares of the company’s stock, valued at approximately $280,198.32. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Donald E. Bobo, Jr. sold 5,000 shares of the company’s stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $93.29, for a total transaction of $466,450.00. Following the transaction, the vice president now owns 46,936 shares in the company, valued at $4,378,659.44. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 81,099 shares of company stock worth $7,003,553. Insiders own 1.29% of the company’s stock.

Institutional Investors Weigh In On Edwards Lifesciences

Large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in shares of Edwards Lifesciences by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 52,964,394 shares of the medical research company’s stock worth $5,061,277,000 after purchasing an additional 600,994 shares during the period. Bank of New York Mellon Corp lifted its position in shares of 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 worth $1,827,347,000 after purchasing an additional 809,605 shares during the period. Brown Advisory Inc. raised its stake in shares of Edwards Lifesciences by 20.1% during the 4th quarter. Brown Advisory Inc. now owns 18,181,420 shares of the medical research company’s stock worth $1,386,333,000 after acquiring an additional 3,048,274 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of Edwards Lifesciences by 2.4% during the 4th quarter. Wellington Management Group LLP now owns 16,827,510 shares of the medical research company’s stock worth $1,283,098,000 after acquiring an additional 393,109 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Edwards Lifesciences during the 4th quarter worth approximately $648,540,000. 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.