Edwards Lifesciences Co. (NYSE:EW) Receives Consensus Recommendation of “Hold” from Brokerages

Edwards Lifesciences Co. (NYSE:EW) has been given an average rating of “Hold” by the twenty-seven analysts that are covering the company, Marketbeat.com reports. Fifteen research analysts have rated the stock with a hold recommendation, eleven have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $79.82.

A number of equities research analysts have recently issued reports on EW shares. Stifel Nicolaus reduced their price target on shares of Edwards Lifesciences from $85.00 to $70.00 and set a “hold” rating for the company in a research report on Thursday, July 25th. Piper Sandler decreased their target price on Edwards Lifesciences from $88.00 to $73.00 and set a “neutral” rating on the stock in a research report on Thursday, July 25th. Baird R W cut Edwards Lifesciences from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 25th. Royal Bank of Canada decreased their price objective on shares of Edwards Lifesciences from $101.00 to $85.00 and set an “outperform” rating on the stock in a research report on Thursday, July 25th. Finally, Wells Fargo & Company lowered their price objective on shares of Edwards Lifesciences from $90.00 to $80.00 and set an “overweight” rating on the stock in a research note on Monday, September 9th.

Edwards Lifesciences Stock Down 0.9 %

Edwards Lifesciences stock opened at $65.99 on Tuesday. The stock’s 50 day moving average price is $67.34 and its 200 day moving average price is $81.69. Edwards Lifesciences has a 1-year low of $58.93 and a 1-year high of $96.12. The company has a market cap of $39.77 billion, a PE ratio of 28.44, a price-to-earnings-growth ratio of 2.80 and a beta of 1.13. 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 (NYSE:EW) last posted its quarterly earnings results on Wednesday, July 24th. The medical research company reported $0.70 earnings per share for the quarter, topping 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 business had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.65 billion. During the same period in the prior year, the company posted $0.66 EPS. The business’s revenue for the quarter was up 6.7% on a year-over-year basis. On average, sell-side analysts predict that Edwards Lifesciences will post 2.71 EPS for the current fiscal year.

Insider Activity

In other news, 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 sale, the vice president now directly owns 46,936 shares in the company, valued at approximately $3,101,530.88. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, VP Daveen Chopra sold 1,250 shares of the company’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $69.95, for a total value of $87,437.50. Following the completion of the transaction, the vice president now directly owns 29,333 shares in the company, valued at $2,051,843.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Donald E. Bobo, Jr. sold 5,000 shares of Edwards Lifesciences 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 sale, the vice president now directly owns 46,936 shares in the company, valued at approximately $3,101,530.88. The disclosure for this sale can be found here. Insiders sold a total of 16,250 shares of company stock valued at $1,218,138 in the last 90 days. 1.29% of the stock is currently owned by insiders.

Institutional Trading of Edwards Lifesciences

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Allspring Global Investments Holdings LLC grew its stake in Edwards Lifesciences by 4.4% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 330,711 shares of the medical research company’s stock valued at $31,603,000 after purchasing an additional 14,087 shares in the last quarter. Empowered Funds LLC grew its position in shares of Edwards Lifesciences by 151.2% during the first quarter. Empowered Funds LLC now owns 20,123 shares of the medical research company’s stock worth $1,923,000 after buying an additional 12,112 shares in the last quarter. Cetera Advisors LLC increased its stake in shares of Edwards Lifesciences by 175.1% in the first quarter. Cetera Advisors LLC now owns 38,090 shares of the medical research company’s stock worth $3,640,000 after buying an additional 24,242 shares during the last quarter. Sei Investments Co. raised its holdings in Edwards Lifesciences by 10.8% in the fourth quarter. Sei Investments Co. now owns 558,031 shares of the medical research company’s stock valued at $42,550,000 after acquiring an additional 54,595 shares in the last quarter. Finally, Cim LLC bought a new position in Edwards Lifesciences during the 4th quarter valued at $13,724,000. 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.