Edwards Lifesciences (NYSE:EW) PT Raised to $88.00 at Piper Sandler

Edwards Lifesciences (NYSE:EW) had its price objective boosted by equities research analysts at Piper Sandler from $85.00 to $88.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has a “neutral” rating on the medical research company’s stock. Piper Sandler’s price objective indicates a potential upside of 1.30% from the company’s previous close.

Several other research firms have also weighed in on EW. StockNews.com lowered shares of Edwards Lifesciences from a “buy” rating to a “hold” rating in a report on Wednesday, March 20th. Royal Bank of Canada increased their target price on shares of Edwards Lifesciences from $95.00 to $101.00 and gave the stock an “outperform” rating in a research note on Monday, April 15th. Morgan Stanley boosted their price target on shares of Edwards Lifesciences from $95.00 to $103.00 and gave the company an “overweight” rating in a research note on Thursday, March 21st. Oppenheimer increased their price objective on shares of Edwards Lifesciences from $93.00 to $100.00 and gave the stock an “outperform” rating in a research report on Monday, March 18th. Finally, Wells Fargo & Company raised Edwards Lifesciences from an “equal weight” rating to an “overweight” rating and set a $94.00 target price on the stock in a research report on Friday, February 2nd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $93.07.

Edwards Lifesciences Price Performance

EW traded down $1.14 during trading on Friday, reaching $86.87. The company’s stock had a trading volume of 1,682,411 shares, compared to its average volume of 3,799,203. The company has a quick ratio of 2.40, a current ratio of 3.38 and a debt-to-equity ratio of 0.09. The firm has a fifty day simple moving average of $90.27 and a two-hundred day simple moving average of $78.76. The company has a market cap of $52.29 billion, a price-to-earnings ratio of 37.49, a PEG ratio of 4.39 and a beta of 1.05. Edwards Lifesciences has a 1 year low of $60.57 and a 1 year high of $96.12.

Edwards Lifesciences (NYSE:EW) last released its quarterly earnings data on Thursday, April 25th. The medical research company reported $0.66 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.02. Edwards Lifesciences had a return on equity of 23.56% and a net margin of 23.35%. The company had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.58 billion. As a group, analysts anticipate that Edwards Lifesciences will post 2.76 EPS for the current year.

Insiders Place Their Bets

In other Edwards Lifesciences news, VP Catherine M. Szyman sold 27,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $85.62, for a total transaction of $2,311,740.00. Following the sale, the vice president now owns 34,814 shares of the company’s stock, valued at $2,980,774.68. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, VP Jean-Luc M. Lemercier sold 14,400 shares of the stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $92.32, for a total value of $1,329,408.00. Following the completion of the sale, the vice president now directly owns 173,849 shares of the company’s stock, valued at $16,049,739.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Catherine M. Szyman sold 27,000 shares of Edwards Lifesciences stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $85.62, for a total transaction of $2,311,740.00. Following the completion of the transaction, the vice president now directly owns 34,814 shares in the company, valued at $2,980,774.68. The disclosure for this sale can be found here. Insiders sold 194,004 shares of company stock valued at $17,166,254 in the last ninety days. Insiders own 1.29% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of EW. Martin Capital Advisors LLP grew its position in Edwards Lifesciences by 0.5% in the 4th quarter. Martin Capital Advisors LLP now owns 25,490 shares of the medical research company’s stock valued at $1,944,000 after buying an additional 128 shares during the last quarter. Legacy Wealth Asset Management LLC lifted its position in Edwards Lifesciences by 0.8% in the fourth quarter. Legacy Wealth Asset Management LLC now owns 16,958 shares of the medical research company’s stock valued at $1,293,000 after purchasing an additional 134 shares during the period. Chapin Davis Inc. boosted its holdings in Edwards Lifesciences by 1.7% in the 1st quarter. Chapin Davis Inc. now owns 8,548 shares of the medical research company’s stock valued at $817,000 after purchasing an additional 140 shares in the last quarter. Johnson Financial Group Inc. increased its position in Edwards Lifesciences by 23.0% during the 4th quarter. Johnson Financial Group Inc. now owns 771 shares of the medical research company’s stock worth $59,000 after purchasing an additional 144 shares during the period. Finally, Valley National Advisers Inc. lifted its holdings in shares of Edwards Lifesciences by 6.0% in the 1st quarter. Valley National Advisers Inc. now owns 2,677 shares of the medical research company’s stock valued at $255,000 after buying an additional 152 shares during the period. 79.46% of the stock is owned by hedge funds and other 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.