Edwards Lifesciences (NYSE:EW) Shares Gap Down on Analyst Downgrade

Shares of Edwards Lifesciences Co. (NYSE:EW) gapped down before the market opened on Friday after Canaccord Genuity Group lowered their price target on the stock from $66.00 to $63.00. The stock had previously closed at $70.35, but opened at $68.88. Canaccord Genuity Group currently has a hold rating on the stock. Edwards Lifesciences shares last traded at $68.83, with a volume of 894,821 shares traded.

EW has been the topic of a number of other reports. Wells Fargo & Company lowered their price target on shares of Edwards Lifesciences from $90.00 to $80.00 and set an “overweight” rating on the stock in a research report on Monday, September 9th. StockNews.com downgraded shares of Edwards Lifesciences from a “buy” rating to a “hold” rating in a research report on Thursday, July 25th. UBS Group reduced their price target on Edwards Lifesciences from $90.00 to $75.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 10th. Truist Financial dropped their price objective on Edwards Lifesciences from $71.00 to $70.00 and set a “hold” rating for the company in a report on Friday. Finally, Wolfe Research raised Edwards Lifesciences from an “underperform” rating to a “peer perform” rating in a report on Monday, July 29th. Fifteen research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $75.67.

Insiders Place Their Bets

In related news, VP Donald E. Bobo, Jr. sold 5,000 shares of the firm’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $69.51, for a total transaction of $347,550.00. Following the sale, the vice president now owns 46,936 shares of the company’s stock, valued at $3,262,521.36. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, VP Donald E. Bobo, Jr. sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $69.51, for a total value of $347,550.00. Following the completion of the transaction, the vice president now owns 46,936 shares of the company’s stock, valued at $3,262,521.36. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Daveen Chopra sold 1,250 shares of Edwards Lifesciences 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 sale, the vice president now owns 29,333 shares in the company, valued at approximately $2,051,843.35. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 16,250 shares of company stock valued at $1,099,238. 1.29% of the stock is currently owned by insiders.

Institutional Trading of Edwards Lifesciences

Several institutional investors have recently modified their holdings of the business. Crewe Advisors LLC acquired a new stake in Edwards Lifesciences during the 1st quarter valued at approximately $28,000. First Community Trust NA acquired a new stake in shares of Edwards Lifesciences during the second quarter worth $29,000. Webster Bank N. A. bought a new position in Edwards Lifesciences during the second quarter worth $39,000. Peoples Bank KS acquired a new position in Edwards Lifesciences in the third quarter valued at $40,000. Finally, Versant Capital Management Inc boosted its position in Edwards Lifesciences by 206.3% during the second quarter. Versant Capital Management Inc now owns 484 shares of the medical research company’s stock valued at $45,000 after acquiring an additional 326 shares during the last quarter. Institutional investors own 79.46% of the company’s stock.

Edwards Lifesciences Stock Performance

The stock 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. 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 stock has a fifty day simple moving average of $68.09 and a two-hundred day simple moving average of $78.49.

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