Edwards Lifesciences Co. (NYSE:EW) Receives $78.65 Average PT from Brokerages

Edwards Lifesciences Co. (NYSE:EW) has earned a consensus rating of “Hold” from the twenty-six brokerages that are presently covering the stock, MarketBeat Ratings reports. Fifteen research analysts have rated the stock with a hold recommendation and eleven have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $79.40.

Several brokerages have issued reports on EW. Barclays lifted their target price on shares of Edwards Lifesciences from $85.00 to $88.00 and gave the stock an “overweight” rating in a report on Monday, December 2nd. Truist Financial restated a “hold” rating and issued a $78.00 price objective (up from $70.00) on shares of Edwards Lifesciences in a report on Thursday, December 5th. JPMorgan Chase & Co. increased their target price on Edwards Lifesciences from $72.00 to $78.00 and gave the company a “neutral” rating in a research note on Friday, October 25th. Stifel Nicolaus boosted their price target on Edwards Lifesciences from $70.00 to $75.00 and gave the stock a “hold” rating in a research note on Thursday, December 5th. Finally, UBS Group dropped their price objective on Edwards Lifesciences from $90.00 to $75.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 10th.

Insider Transactions at Edwards Lifesciences

In other news, VP Daniel J. Lippis sold 2,500 shares of the company’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $74.08, for a total value of $185,200.00. Following the completion of the transaction, the vice president now owns 23,189 shares of the company’s stock, valued at $1,717,841.12. This represents a 9.73 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Larry L. Wood sold 25,000 shares of Edwards Lifesciences stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $65.91, for a total value of $1,647,750.00. Following the sale, the insider now directly owns 198,526 shares in the company, valued at $13,084,848.66. This trade represents a 11.18 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 37,500 shares of company stock valued at $2,508,350 over the last three months. Corporate insiders own 1.29% of the company’s stock.

Hedge Funds Weigh In On Edwards Lifesciences

Hedge funds and other institutional investors have recently modified their holdings of the stock. Wellington Management Group LLP lifted its stake in Edwards Lifesciences by 86.3% in the 3rd quarter. Wellington Management Group LLP now owns 31,532,725 shares of the medical research company’s stock worth $2,080,845,000 after purchasing an additional 14,610,123 shares in the last quarter. State Street Corp increased its holdings in shares of Edwards Lifesciences by 1.0% in the third quarter. State Street Corp now owns 26,265,633 shares of the medical research company’s stock worth $1,733,270,000 after purchasing an additional 256,538 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Edwards Lifesciences by 4.3% in the second 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 buying an additional 809,605 shares in the last quarter. Geode Capital Management LLC boosted its stake in Edwards Lifesciences by 2.2% during the third quarter. Geode Capital Management LLC now owns 13,521,147 shares of the medical research company’s stock valued at $889,050,000 after buying an additional 284,918 shares during the last quarter. Finally, Fisher Asset Management LLC grew its holdings in Edwards Lifesciences by 9.8% during the 3rd quarter. Fisher Asset Management LLC now owns 9,078,311 shares of the medical research company’s stock valued at $599,078,000 after buying an additional 806,705 shares in the last quarter. Institutional investors own 79.46% of the company’s stock.

Edwards Lifesciences Price Performance

Shares of EW opened at $74.81 on Friday. The firm’s 50-day simple moving average is $70.06 and its two-hundred day simple moving average is $73.52. Edwards Lifesciences has a fifty-two week low of $58.93 and a fifty-two week high of $96.12. The stock has a market cap of $44.12 billion, a PE ratio of 10.80, a price-to-earnings-growth ratio of 3.63 and a beta of 1.12. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.89 and a current ratio of 3.46.

Edwards Lifesciences (NYSE:EW) last posted its quarterly earnings results on Thursday, October 24th. The medical research company reported $0.67 earnings per share for the quarter, hitting the consensus estimate of $0.67. The company had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.57 billion. Edwards Lifesciences had a return on equity of 20.76% and a net margin of 70.82%. The firm’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.59 EPS. Analysts anticipate that Edwards Lifesciences will post 2.56 earnings per share for the current fiscal year.

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.