Edwards Lifesciences (NYSE:EW) Price Target Raised to $80.00

Edwards Lifesciences (NYSE:EW) had its price objective upped by Royal Bank of Canada from $75.00 to $80.00 in a report issued on Wednesday,Benzinga reports. They currently have an outperform rating on the medical research company’s stock.

Other research analysts also recently issued reports about the company. Daiwa America downgraded Edwards Lifesciences from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 30th. Jefferies Financial Group cut Edwards Lifesciences from a “buy” rating to a “hold” rating and reduced their target price for the company from $85.00 to $70.00 in a report on Wednesday, September 18th. Canaccord Genuity Group lowered their price target on shares of Edwards Lifesciences from $66.00 to $63.00 and set a “hold” rating for the company in a report on Friday, October 25th. JPMorgan Chase & Co. upped their price objective on shares of Edwards Lifesciences from $72.00 to $78.00 and gave the company a “neutral” rating in a research note on Friday, October 25th. Finally, UBS Group lowered their target price on shares of Edwards Lifesciences from $90.00 to $75.00 and set a “neutral” rating for the company in a research note on Tuesday, September 10th. Seventeen equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Edwards Lifesciences presently has an average rating of “Hold” and a consensus price target of $76.85.

Edwards Lifesciences Price Performance

Shares of NYSE:EW opened at $71.37 on Wednesday. The company has a current ratio of 3.46, a quick ratio of 2.89 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $42.09 billion, a PE ratio of 10.30, a PEG ratio of 4.05 and a beta of 1.12. The firm has a 50 day moving average of $68.10 and a 200-day moving average of $75.23. Edwards Lifesciences has a 12 month low of $58.93 and a 12 month high of $96.12.

Edwards Lifesciences (NYSE:EW) last released its earnings results on Thursday, October 24th. The medical research company reported $0.67 earnings per share for the quarter, hitting the consensus estimate of $0.67. The firm had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.57 billion. Edwards Lifesciences had a return on equity of 20.76% and a net margin of 70.82%. The company’s quarterly revenue was up 8.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.59 earnings per share. On average, equities research analysts predict that Edwards Lifesciences will post 2.57 EPS for the current fiscal year.

Insider Activity at Edwards Lifesciences

In other Edwards Lifesciences news, insider Larry L. Wood sold 25,000 shares of Edwards Lifesciences stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $65.91, for a total transaction of $1,647,750.00. Following the completion of the transaction, the insider now owns 198,526 shares in the company, valued at approximately $13,084,848.66. The trade was a 11.18 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Donald E. Bobo, Jr. sold 5,000 shares of the business’s stock in a transaction that occurred on 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 directly owns 46,936 shares of the company’s stock, valued at $3,133,916.72. This represents a 9.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 40,000 shares of company stock valued at $2,657,000. 1.29% of the stock is owned by company insiders.

Hedge Funds Weigh In On Edwards Lifesciences

Large investors have recently bought and sold shares of the stock. First Community Trust NA purchased a new position in shares of Edwards Lifesciences in the 2nd quarter worth approximately $29,000. FSA Wealth Management LLC purchased a new position in Edwards Lifesciences in the third quarter worth $30,000. Prospera Private Wealth LLC bought a new position in Edwards Lifesciences in the 3rd quarter valued at $32,000. Avior Wealth Management LLC increased its position in shares of Edwards Lifesciences by 138.7% during the 3rd quarter. Avior Wealth Management LLC now owns 530 shares of the medical research company’s stock valued at $35,000 after purchasing an additional 308 shares during the last quarter. Finally, Webster Bank N. A. bought a new stake in shares of Edwards Lifesciences during the 2nd quarter worth $39,000. 79.46% of the stock is currently owned by 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.