Truist Financial Issues Pessimistic Forecast for Edwards Lifesciences (NYSE:EW) Stock Price

Edwards Lifesciences (NYSE:EW) had its price target decreased by stock analysts at Truist Financial from $78.00 to $75.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has a “hold” rating on the medical research company’s stock. Truist Financial’s price target would indicate a potential upside of 9.72% from the stock’s current price.

A number of other equities research analysts have also recently weighed in on the stock. Piper Sandler lifted their price objective on shares of Edwards Lifesciences from $70.00 to $73.00 and gave the company a “neutral” rating in a research note on Wednesday, February 12th. Evercore ISI dropped their price target on shares of Edwards Lifesciences from $75.00 to $73.00 and set an “in-line” rating on the stock in a research report on Wednesday, February 12th. Canaccord Genuity Group increased their price objective on shares of Edwards Lifesciences from $68.00 to $71.00 and gave the company a “hold” rating in a report on Thursday, February 13th. Morgan Stanley boosted their target price on Edwards Lifesciences from $70.00 to $75.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 12th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $85.00 price target on shares of Edwards Lifesciences in a research note on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, Edwards Lifesciences presently has an average rating of “Hold” and a consensus target price of $79.81.

Edwards Lifesciences Price Performance

NYSE EW opened at $68.35 on Friday. The company has a 50-day moving average price of $71.36 and a two-hundred day moving average price of $70.67. Edwards Lifesciences has a 52 week low of $58.93 and a 52 week high of $95.25. The stock has a market cap of $40.18 billion, a price-to-earnings ratio of 9.89, a price-to-earnings-growth ratio of 4.82 and a beta of 1.15. 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 Tuesday, February 11th. The medical research company reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.04. Edwards Lifesciences had a return on equity of 19.40% and a net margin of 72.93%. Analysts forecast that Edwards Lifesciences will post 2.45 EPS for the current year.

Insider Activity

In related news, CFO Scott B. Ullem sold 11,250 shares of the firm’s stock in a transaction that occurred on Wednesday, March 26th. The shares were sold at an average price of $70.87, for a total transaction of $797,287.50. Following the completion of the sale, the chief financial officer now directly owns 30,387 shares in the company, valued at approximately $2,153,526.69. This trade represents a 27.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Steven R. Loranger sold 5,739 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $76.42, for a total transaction of $438,574.38. Following the transaction, the director now directly owns 60,372 shares in the company, valued at $4,613,628.24. The trade was a 8.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 62,853 shares of company stock worth $4,534,247 over the last quarter. Corporate insiders own 1.29% of the company’s stock.

Institutional Trading of Edwards Lifesciences

Several hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. increased its position in Edwards Lifesciences by 10.4% in the 4th quarter. Vanguard Group Inc. now owns 69,132,036 shares of the medical research company’s stock worth $5,117,845,000 after purchasing an additional 6,537,494 shares during the last quarter. Wellington Management Group LLP increased its holdings in Edwards Lifesciences by 5.3% in the fourth quarter. Wellington Management Group LLP now owns 33,210,879 shares of the medical research company’s stock worth $2,458,601,000 after buying an additional 1,678,154 shares during the last quarter. Geode Capital Management LLC increased its holdings in Edwards Lifesciences by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 13,647,341 shares of the medical research company’s stock worth $1,007,520,000 after buying an additional 126,194 shares during the last quarter. Fisher Asset Management LLC raised its position in Edwards Lifesciences by 7.7% during the fourth quarter. Fisher Asset Management LLC now owns 9,775,276 shares of the medical research company’s stock valued at $723,664,000 after acquiring an additional 696,965 shares in the last quarter. Finally, Norges Bank acquired a new stake in Edwards Lifesciences in the fourth quarter valued at approximately $610,895,000. 79.46% of the stock is currently 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.