Edwards Lifesciences (NYSE:EW) Price Target Cut to $91.00

Edwards Lifesciences (NYSE:EW) had its price objective lowered by The Goldman Sachs Group from $107.00 to $91.00 in a research report released on Friday morning, Benzinga reports. The firm currently has a buy rating on the medical research company’s stock.

A number of other research analysts also recently issued reports on the company. Evercore ISI dropped their price target on Edwards Lifesciences from $91.00 to $76.00 and set an in-line rating on the stock in a research note on Thursday, July 25th. Baird R W downgraded Edwards Lifesciences from a strong-buy rating to a hold rating in a research note on Thursday, July 25th. Royal Bank of Canada decreased their price objective on Edwards Lifesciences from $101.00 to $85.00 and set an outperform rating for the company in a research report on Thursday, July 25th. Barclays increased their price objective on Edwards Lifesciences from $100.00 to $101.00 and gave the stock an overweight rating in a research report on Tuesday, May 7th. Finally, Citigroup increased their price objective on Edwards Lifesciences from $105.00 to $106.00 and gave the stock a buy rating in a research report on Wednesday, July 10th. Fourteen equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, Edwards Lifesciences currently has an average rating of Hold and a consensus target price of $82.10.

Edwards Lifesciences Trading Up 2.2 %

EW opened at $63.74 on Friday. The business’s 50-day simple moving average is $87.45 and its 200-day simple moving average is $86.91. The company has a market cap of $38.41 billion, a P/E ratio of 27.47, a PEG ratio of 2.33 and a beta of 1.11. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.87 and a current ratio of 3.71. Edwards Lifesciences has a one year low of $58.93 and a one year high of $96.12.

Edwards Lifesciences (NYSE:EW) last released its quarterly earnings results on Wednesday, July 24th. The medical research company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.01. The firm had revenue of $1.63 billion for 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 quarterly revenue was up 6.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.66 EPS. As a group, equities research analysts expect that Edwards Lifesciences will post 2.71 EPS for the current fiscal year.

Insider Activity at Edwards Lifesciences

In related news, VP Jean-Luc M. Lemercier sold 14,400 shares of the firm’s stock in a transaction that occurred on 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 approximately $14,639,824.29. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Edwards Lifesciences news, VP Jean-Luc M. Lemercier sold 14,400 shares of the firm’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $84.21, for a total transaction of $1,212,624.00. Following the completion of the transaction, the vice president now owns 173,849 shares of the company’s stock, valued at $14,639,824.29. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Bernard J. Zovighian purchased 580 shares of the company’s stock in a transaction on Monday, May 6th. The shares were bought at an average cost of $85.74 per share, with a total value of $49,729.20. Following the transaction, the chief executive officer now directly owns 3,268 shares of the company’s stock, valued at approximately $280,198.32. The disclosure for this purchase can be found here. Insiders sold 73,849 shares of company stock valued at $6,381,503 in the last ninety days. Corporate insiders own 1.29% of the company’s stock.

Hedge Funds Weigh In On Edwards Lifesciences

Several hedge funds have recently bought and sold shares of the stock. DSM Capital Partners LLC purchased a new stake in shares of Edwards Lifesciences in the fourth quarter valued at $28,000. Crewe Advisors LLC purchased a new stake in shares of Edwards Lifesciences in the first quarter valued at $28,000. First Community Trust NA purchased a new stake in shares of Edwards Lifesciences in the second quarter valued at $29,000. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Edwards Lifesciences in the fourth quarter valued at $34,000. Finally, Riverview Trust Co purchased a new stake in shares of Edwards Lifesciences in the first quarter valued at $34,000. Hedge funds and other institutional investors own 79.46% of the company’s stock.

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.