Edwards Lifesciences (NYSE:EW) Stock Price Expected to Rise, Barclays Analyst Says

Edwards Lifesciences (NYSE:EW) had its price objective hoisted by analysts at Barclays from $85.00 to $88.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the medical research company’s stock. Barclays‘s price target points to a potential upside of 25.37% from the company’s previous close.

Several other research analysts have also recently commented on the company. Piper Sandler reduced their target price on Edwards Lifesciences from $73.00 to $70.00 and set a “neutral” rating for the company in a research report on Friday, October 25th. Royal Bank of Canada lifted their price objective on Edwards Lifesciences from $75.00 to $80.00 and gave the company an “outperform” rating in a report on Wednesday, November 27th. Evercore ISI cut their price objective on Edwards Lifesciences from $76.00 to $70.00 and set an “in-line” rating for the company in a report on Tuesday, October 1st. JPMorgan Chase & Co. lifted their price objective on Edwards Lifesciences from $72.00 to $78.00 and gave the company a “neutral” rating in a report on Friday, October 25th. Finally, Oppenheimer reissued an “outperform” rating and set a $90.00 price objective on shares of Edwards Lifesciences in a report on Thursday, September 12th. Seventeen equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $77.25.

Edwards Lifesciences Trading Down 0.5 %

Shares of NYSE EW opened at $70.19 on Monday. The stock has a market cap of $41.40 billion, a price-to-earnings ratio of 10.13, a PEG ratio of 3.97 and a beta of 1.12. The business has a 50 day simple moving average of $68.24 and a 200 day simple moving average of $74.78. Edwards Lifesciences has a 52 week low of $58.93 and a 52 week high of $96.12. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.89 and a current ratio of 3.46.

Edwards Lifesciences (NYSE:EW) last posted 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. Edwards Lifesciences had a return on equity of 20.76% and a net margin of 70.82%. The firm had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.57 billion. During the same period in the previous year, the company earned $0.59 EPS. The company’s revenue for the quarter was up 8.9% on a year-over-year basis. On average, research analysts predict that Edwards Lifesciences will post 2.57 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Edwards Lifesciences news, insider Larry L. Wood sold 25,000 shares of the company’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $65.91, for a total value of $1,647,750.00. Following the transaction, the insider now directly owns 198,526 shares of the company’s stock, valued at $13,084,848.66. This represents a 11.18 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Donald E. Bobo, Jr. sold 5,000 shares of the company’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $65.57, for a total value of $327,850.00. Following the completion of the transaction, the vice president now directly owns 46,936 shares in the company, valued at approximately $3,077,593.52. This represents a 9.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 40,000 shares of company stock valued at $2,657,000 in the last 90 days. 1.27% of the stock is currently owned by insiders.

Institutional Trading of Edwards Lifesciences

Institutional investors have recently modified their holdings of the stock. 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 valued at $3,640,000 after buying an additional 24,242 shares during the period. GAMMA Investing LLC increased its stake in shares of Edwards Lifesciences by 30.5% in the second quarter. GAMMA Investing LLC now owns 3,375 shares of the medical research company’s stock valued at $312,000 after buying an additional 788 shares during the period. Mather Group LLC. increased its stake in shares of Edwards Lifesciences by 55.6% in the second quarter. Mather Group LLC. now owns 5,070 shares of the medical research company’s stock valued at $484,000 after buying an additional 1,811 shares during the period. Kingswood Wealth Advisors LLC increased its stake in shares of Edwards Lifesciences by 5.5% in the second quarter. Kingswood Wealth Advisors LLC now owns 13,450 shares of the medical research company’s stock valued at $1,242,000 after buying an additional 696 shares during the period. Finally, Park Avenue Securities LLC increased its stake in shares of Edwards Lifesciences by 0.5% in the second quarter. Park Avenue Securities LLC now owns 23,484 shares of the medical research company’s stock valued at $2,169,000 after buying an additional 108 shares during the period. 79.46% of the stock is currently owned by institutional investors.

About Edwards Lifesciences

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.