Truist Financial Trims Edwards Lifesciences (NYSE:EW) Target Price to $70.00

Edwards Lifesciences (NYSE:EW) had its price target reduced by Truist Financial from $71.00 to $70.00 in a research note released on Friday, Benzinga reports. Truist Financial currently has a hold rating on the medical research company’s stock.

EW has been the topic of several other reports. Morgan Stanley reissued an “equal weight” rating and set a $70.00 price objective on shares of Edwards Lifesciences in a research report on Friday, October 11th. Wolfe Research upgraded shares of Edwards Lifesciences from an “underperform” rating to a “peer perform” rating in a report on Monday, July 29th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Edwards Lifesciences from $103.00 to $85.00 and set a “buy” rating for the company in a report on Thursday, July 25th. Wells Fargo & Company cut their target price on Edwards Lifesciences from $90.00 to $80.00 and set an “overweight” rating on the stock in a research note on Monday, September 9th. Finally, JPMorgan Chase & Co. cut Edwards Lifesciences from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $105.00 to $72.00 in a research note on Thursday, July 25th. Fifteen research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $75.67.

Edwards Lifesciences Price Performance

Shares of NYSE EW opened at $69.38 on Friday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.87 and a current ratio of 3.71. The company has a 50 day simple moving average of $68.09 and a two-hundred day simple moving average of $78.30. Edwards Lifesciences has a fifty-two week low of $58.93 and a fifty-two week high of $96.12. The company has a market capitalization of $41.79 billion, a price-to-earnings ratio of 28.55, a P/E/G ratio of 3.00 and a beta of 1.13.

Edwards Lifesciences (NYSE:EW) last posted its quarterly earnings data on Thursday, October 24th. The medical research company reported $0.67 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.67. Edwards Lifesciences had a return on equity of 22.35% and a net margin of 24.55%. The company had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.57 billion. During the same quarter last year, the company earned $0.59 EPS. The firm’s revenue for the quarter was up 8.9% on a year-over-year basis. Analysts expect that Edwards Lifesciences will post 2.61 EPS for the current fiscal year.

Insider Transactions at Edwards Lifesciences

In related news, VP Daveen Chopra sold 1,250 shares of the business’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $69.95, for a total transaction of $87,437.50. Following the completion of the transaction, the vice president now directly owns 29,333 shares in the company, valued at approximately $2,051,843.35. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, VP Daveen Chopra sold 1,250 shares of Edwards Lifesciences stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $69.95, for a total transaction of $87,437.50. Following the transaction, the vice president now owns 29,333 shares in the company, valued at approximately $2,051,843.35. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Donald E. Bobo, Jr. sold 5,000 shares of the company’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $66.08, for a total transaction of $330,400.00. Following the completion of the transaction, the vice president now directly owns 46,936 shares of the company’s stock, valued at $3,101,530.88. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 16,250 shares of company stock valued at $1,099,238 over the last quarter. 1.29% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in EW. Vanguard Group Inc. increased its holdings in Edwards Lifesciences by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 52,964,394 shares of the medical research company’s stock valued at $5,061,277,000 after acquiring an additional 600,994 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. Price T Rowe Associates Inc. MD boosted its stake in Edwards Lifesciences by 57.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,516,260 shares of the medical research company’s stock valued at $622,695,000 after buying an additional 2,390,137 shares during the last quarter. Champlain Investment Partners LLC boosted its stake in Edwards Lifesciences by 3.1% during the first quarter. Champlain Investment Partners LLC now owns 2,964,168 shares of the medical research company’s stock valued at $283,256,000 after buying an additional 88,205 shares during the last quarter. Finally, AustralianSuper Pty Ltd increased its stake in Edwards Lifesciences by 14.2% in the 2nd quarter. AustralianSuper Pty Ltd now owns 2,778,812 shares of the medical research company’s stock worth $256,679,000 after acquiring an additional 344,465 shares during the last quarter. 79.46% of the stock is 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.