Truist Financial Trims Edwards Lifesciences (NYSE:EW) Target Price to $71.00

Edwards Lifesciences (NYSE:EW) had its price target trimmed by Truist Financial from $82.00 to $71.00 in a research report sent to investors on Friday morning, Benzinga reports. The brokerage currently has a hold rating on the medical research company’s stock.

EW has been the subject of several other research reports. Canaccord Genuity Group reduced their price objective on shares of Edwards Lifesciences from $85.00 to $77.00 and set a hold rating for the company in a report on Thursday, July 25th. Oppenheimer reiterated an outperform rating and set a $90.00 price target on shares of Edwards Lifesciences in a research report on Thursday. Deutsche Bank Aktiengesellschaft cut their price objective on Edwards Lifesciences from $103.00 to $85.00 and set a buy rating for the company in a report on Thursday, July 25th. UBS Group lowered their target price on Edwards Lifesciences from $90.00 to $75.00 and set a neutral rating on the stock in a report on Tuesday, September 10th. Finally, Bank of America cut shares of Edwards Lifesciences from a buy rating to a neutral rating and dropped their price target for the stock from $105.00 to $75.00 in a research report on Thursday, July 25th. Fifteen equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of Hold and an average target price of $80.29.

Edwards Lifesciences Trading Up 0.6 %

NYSE:EW opened at $68.52 on Friday. The firm has a market capitalization of $41.28 billion, a P/E ratio of 29.53, a P/E/G ratio of 2.85 and a beta of 1.13. The business has a 50 day simple moving average of $72.39 and a 200 day simple moving average of $83.45. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.71 and a quick ratio of 2.87. Edwards Lifesciences has a 12-month low of $58.93 and a 12-month high of $96.12.

Edwards Lifesciences (NYSE:EW) last posted its earnings results on Wednesday, July 24th. The medical research company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.01. Edwards Lifesciences had a net margin of 24.55% and a return on equity of 22.35%. The firm had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.65 billion. During the same period in the previous year, the business posted $0.66 EPS. Edwards Lifesciences’s revenue was up 6.7% on a year-over-year basis. Equities research analysts predict that Edwards Lifesciences will post 2.7 EPS for the current year.

Insiders Place Their Bets

In related news, VP Donald E. Bobo, Jr. sold 5,000 shares of Edwards Lifesciences stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $66.77, for a total transaction of $333,850.00. Following the completion of the sale, the vice president now owns 46,936 shares of the company’s stock, valued at $3,133,916.72. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Edwards Lifesciences news, VP Daveen Chopra sold 1,250 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $69.95, for a total transaction of $87,437.50. Following the transaction, the vice president now directly owns 29,333 shares in the company, valued at $2,051,843.35. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Donald E. Bobo, Jr. sold 5,000 shares of the company’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $66.77, for a total value of $333,850.00. Following the sale, the vice president now owns 46,936 shares of the company’s stock, valued at approximately $3,133,916.72. The disclosure for this sale can be found here. Insiders sold a total of 16,250 shares of company stock worth $1,218,138 in the last quarter. 1.29% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Edwards Lifesciences

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Crewe Advisors LLC acquired a new position in Edwards Lifesciences during the 1st quarter worth $28,000. First Community Trust NA bought a new position in shares of Edwards Lifesciences in the second quarter worth about $29,000. Riverview Trust Co acquired a new position in shares of Edwards Lifesciences during the 1st quarter worth about $34,000. DSM Capital Partners LLC bought a new stake in Edwards Lifesciences during the 4th quarter valued at approximately $28,000. Finally, Webster Bank N. A. acquired a new stake in Edwards Lifesciences in the 2nd quarter valued at approximately $39,000. 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.