Edwards Lifesciences (NYSE:EW) Price Target Cut to $80.00 by Analysts at Barclays

Edwards Lifesciences (NYSE:EW) had its price objective lowered by Barclays from $90.00 to $80.00 in a research note published on Monday morning, Benzinga reports. The brokerage currently has an overweight rating on the medical research company’s stock.

EW has been the topic of several other research reports. Truist Financial cut shares of Edwards Lifesciences from a buy rating to a hold rating and lowered their price objective for the stock from $110.00 to $82.00 in a research note on Thursday, July 25th. Piper Sandler cut their price objective on Edwards Lifesciences from $88.00 to $73.00 and set a neutral rating for the company in a research report on Thursday, July 25th. Wolfe Research upgraded Edwards Lifesciences from an underperform rating to a peer perform rating in a report on Monday, July 29th. Baird R W lowered Edwards Lifesciences from a strong-buy rating to a hold rating in a research report on Thursday, July 25th. Finally, Royal Bank of Canada decreased their price target on Edwards Lifesciences from $101.00 to $85.00 and set an outperform rating for the company in a research report on Thursday, July 25th. Fourteen investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of Moderate Buy and a consensus target price of $81.10.

Edwards Lifesciences Price Performance

Shares of EW opened at $65.71 on Monday. Edwards Lifesciences has a one year low of $58.93 and a one year high of $96.12. The stock’s fifty day moving average is $74.26 and its 200-day moving average is $83.98. 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 firm has a market capitalization of $39.58 billion, a price-to-earnings ratio of 28.32, a price-to-earnings-growth ratio of 2.79 and a beta of 1.13.

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

Insider Buying and Selling

In related news, VP Donald E. Bobo, Jr. sold 5,000 shares of Edwards Lifesciences stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $93.29, for a total value of $466,450.00. Following the completion of the sale, the vice president now owns 46,936 shares of the company’s stock, valued at approximately $4,378,659.44. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, VP Donald E. Bobo, Jr. sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $93.29, for a total value of $466,450.00. Following the completion of the sale, the vice president now directly owns 46,936 shares in the company, valued at approximately $4,378,659.44. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Daveen Chopra sold 1,250 shares of the company’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $69.95, for a total value of $87,437.50. Following the sale, the vice president now directly owns 29,333 shares of the company’s stock, valued at approximately $2,051,843.35. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 16,250 shares of company stock worth $1,321,988. Insiders own 1.29% of the company’s stock.

Institutional Trading of Edwards Lifesciences

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. 9258 Wealth Management LLC lifted its stake in shares of Edwards Lifesciences by 24.8% in the fourth quarter. 9258 Wealth Management LLC now owns 10,529 shares of the medical research company’s stock valued at $803,000 after buying an additional 2,093 shares during the period. Private Advisor Group LLC lifted its position in shares of Edwards Lifesciences by 9.3% in the 4th quarter. Private Advisor Group LLC now owns 25,299 shares of the medical research company’s stock worth $1,929,000 after acquiring an additional 2,162 shares during the period. Gryphon Financial Partners LLC grew its holdings in shares of Edwards Lifesciences by 35.7% during the 4th quarter. Gryphon Financial Partners LLC now owns 6,454 shares of the medical research company’s stock worth $492,000 after purchasing an additional 1,698 shares in the last quarter. Principal Securities Inc. bought a new stake in shares of Edwards Lifesciences during the fourth quarter valued at approximately $499,000. Finally, Cary Street Partners Investment Advisory LLC raised its stake in shares of Edwards Lifesciences by 13.1% in the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 5,409 shares of the medical research company’s stock valued at $412,000 after purchasing an additional 627 shares in the last quarter. Institutional investors and hedge funds own 79.46% of the company’s stock.

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.