Brokerages Set Edwards Lifesciences Co. (NYSE:EW) Price Target at $79.60

Shares of Edwards Lifesciences Co. (NYSE:EW) have earned a consensus rating of “Hold” from the twenty-four analysts that are covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and eleven have issued a buy rating on the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $79.60.

EW has been the topic of a number of recent analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $85.00 target price on shares of Edwards Lifesciences in a research report on Wednesday, February 12th. Canaccord Genuity Group upped their price target on shares of Edwards Lifesciences from $71.00 to $75.00 and gave the company a “hold” rating in a report on Friday, April 25th. Truist Financial reduced their price objective on shares of Edwards Lifesciences from $78.00 to $75.00 and set a “hold” rating on the stock in a research note on Friday, April 11th. Stifel Nicolaus raised shares of Edwards Lifesciences from a “hold” rating to a “buy” rating and boosted their target price for the stock from $75.00 to $90.00 in a research report on Thursday, January 30th. Finally, Barclays upped their target price on shares of Edwards Lifesciences from $88.00 to $90.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th.

Insiders Place Their Bets

In other Edwards Lifesciences news, CFO Scott B. Ullem sold 11,250 shares of Edwards Lifesciences stock in a transaction on Friday, February 28th. The stock was sold at an average price of $70.78, for a total transaction of $796,275.00. Following the sale, the chief financial officer now owns 30,387 shares of the company’s stock, valued at $2,150,791.86. The trade was a 27.02% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Bernard J. Zovighian sold 6,164 shares of the company’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $69.51, for a total transaction of $428,459.64. Following the completion of the sale, the chief executive officer now directly owns 59,083 shares of the company’s stock, valued at $4,106,859.33. The trade was a 9.45% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 66,192 shares of company stock valued at $4,709,454 over the last three months. Company insiders own 1.29% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Harbor Capital Advisors Inc. grew its stake in shares of Edwards Lifesciences by 2.5% in the 4th quarter. Harbor Capital Advisors Inc. now owns 11,135 shares of the medical research company’s stock worth $824,000 after purchasing an additional 273 shares during the last quarter. Czech National Bank grew its position in Edwards Lifesciences by 4.2% in the fourth quarter. Czech National Bank now owns 127,881 shares of the medical research company’s stock worth $9,467,000 after buying an additional 5,166 shares during the last quarter. Brookstone Capital Management grew its position in Edwards Lifesciences by 12.7% in the fourth quarter. Brookstone Capital Management now owns 5,484 shares of the medical research company’s stock worth $406,000 after buying an additional 616 shares during the last quarter. Wedmont Private Capital increased its holdings in shares of Edwards Lifesciences by 5.0% in the fourth quarter. Wedmont Private Capital now owns 8,348 shares of the medical research company’s stock valued at $613,000 after buying an additional 398 shares in the last quarter. Finally, Cooper Financial Group increased its holdings in shares of Edwards Lifesciences by 2.8% in the fourth quarter. Cooper Financial Group now owns 6,466 shares of the medical research company’s stock valued at $479,000 after buying an additional 175 shares in the last quarter. 79.46% of the stock is owned by institutional investors and hedge funds.

Edwards Lifesciences Price Performance

Shares of EW stock opened at $77.92 on Wednesday. The firm has a fifty day simple moving average of $72.08 and a 200-day simple moving average of $71.79. The company has a market capitalization of $45.71 billion, a PE ratio of 11.18, a price-to-earnings-growth ratio of 4.82 and a beta of 1.12. Edwards Lifesciences has a twelve month low of $58.93 and a twelve month high of $95.25. The company has a current ratio of 3.46, a quick ratio of 2.89 and a debt-to-equity ratio of 0.06.

Edwards Lifesciences (NYSE:EW) last issued its quarterly earnings data on Wednesday, April 23rd. The medical research company reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.04. The firm had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.40 billion. Edwards Lifesciences had a net margin of 72.93% and a return on equity of 19.40%. The firm’s revenue was up 6.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.66 EPS. Equities research analysts anticipate that Edwards Lifesciences will post 2.45 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.