Edwards Lifesciences (NYSE:EW) Stock Price Expected to Rise, Canaccord Genuity Group Analyst Says

Edwards Lifesciences (NYSE:EW) had its price objective hoisted by research analysts at Canaccord Genuity Group from $68.00 to $71.00 in a 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 indicates a potential downside of 6.37% from the company’s previous close.

Several other research firms also recently issued reports on EW. The Goldman Sachs Group lifted their price target on Edwards Lifesciences from $81.00 to $90.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Citigroup lifted their target price on Edwards Lifesciences from $81.00 to $83.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. Barclays upped their price target on Edwards Lifesciences from $85.00 to $88.00 and gave the stock an “overweight” rating in a research report on Monday, December 2nd. Evercore ISI lowered their price objective on shares of Edwards Lifesciences from $75.00 to $73.00 and set an “in-line” rating on the stock in a report on Wednesday. Finally, Bank of America upgraded shares of Edwards Lifesciences from a “neutral” rating to a “buy” rating and increased their target price for the stock from $82.00 to $90.00 in a report on Monday, December 16th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, Edwards Lifesciences has an average rating of “Hold” and a consensus target price of $79.86.

Edwards Lifesciences Stock Up 6.9 %

Shares of Edwards Lifesciences stock opened at $75.83 on Thursday. Edwards Lifesciences has a 1 year low of $58.93 and a 1 year high of $96.12. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.46 and a quick ratio of 2.89. The company has a market capitalization of $44.72 billion, a P/E ratio of 10.94, a price-to-earnings-growth ratio of 3.64 and a beta of 1.10. The business has a 50-day moving average of $72.51 and a two-hundred day moving average of $69.36.

Edwards Lifesciences (NYSE:EW) last announced its earnings results on Tuesday, February 11th. The medical research company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.55 by $0.04. Edwards Lifesciences had a net margin of 70.82% and a return on equity of 20.76%. As a group, equities analysts predict that Edwards Lifesciences will post 2.56 EPS for the current year.

Insider Buying and Selling at Edwards Lifesciences

In related news, VP Daniel J. Lippis sold 500 shares of Edwards Lifesciences stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $68.76, for a total transaction of $34,380.00. Following the completion of the sale, the vice president now owns 23,189 shares of the company’s stock, valued at approximately $1,594,475.64. The trade was a 2.11 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.29% of the company’s stock.

Institutional Investors Weigh In On Edwards Lifesciences

Hedge funds have recently bought and sold shares of the stock. Wellington Management Group LLP increased its stake in shares of Edwards Lifesciences by 86.3% during the third 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 during the period. Norges Bank acquired a new position in Edwards Lifesciences in the 4th quarter valued at $610,895,000. Jennison Associates LLC bought a new position in Edwards Lifesciences during the 4th quarter worth $555,939,000. Vanguard Group Inc. lifted its holdings in shares of Edwards Lifesciences by 10.4% during the fourth quarter. Vanguard Group Inc. now owns 69,132,036 shares of the medical research company’s stock worth $5,117,845,000 after buying an additional 6,537,494 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its position in shares of Edwards Lifesciences by 475.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 4,243,976 shares of the medical research company’s stock valued at $314,182,000 after acquiring an additional 3,506,886 shares during the period. 79.46% of the stock is currently owned by institutional investors and hedge funds.

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.