Edwards Lifesciences (NYSE:EW) Price Target Lowered to $68.00 at Robert W. Baird

Edwards Lifesciences (NYSE:EW) had its price target cut by investment analysts at Robert W. Baird from $73.00 to $68.00 in a note issued to investors on Friday, Benzinga reports. The firm presently has a “neutral” rating on the medical research company’s stock. Robert W. Baird’s target price indicates a potential downside of 1.99% from the stock’s previous close.

EW has been the topic of several other research reports. Daiwa America raised shares of Edwards Lifesciences to a “strong-buy” rating in a research report on Wednesday, July 31st. Oppenheimer reaffirmed an “outperform” rating and set a $90.00 price objective on shares of Edwards Lifesciences in a research report on Thursday, September 12th. Jefferies Financial Group lowered shares of Edwards Lifesciences from a “buy” rating to a “hold” rating and cut their price objective for the company from $85.00 to $70.00 in a research report on Wednesday, September 18th. Canaccord Genuity Group lowered their price target on Edwards Lifesciences from $77.00 to $66.00 and set a “hold” rating on the stock in a report on Monday, October 7th. Finally, Evercore ISI lowered their price target on Edwards Lifesciences from $76.00 to $70.00 and set an “in-line” rating on the stock in a report on Tuesday, October 1st. Fifteen investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $75.67.

Edwards Lifesciences Price Performance

NYSE EW opened at $69.38 on Friday. The company has a 50 day simple moving average of $68.09 and a 200-day simple moving average of $78.39. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.71 and a quick ratio of 2.87. The firm has a market capitalization of $41.79 billion, a price-to-earnings ratio of 28.55, a price-to-earnings-growth ratio of 3.00 and a beta of 1.13. Edwards Lifesciences has a 52-week low of $58.93 and a 52-week high of $96.12.

Edwards Lifesciences (NYSE:EW) last issued its quarterly earnings data on Thursday, October 24th. The medical research company reported $0.67 earnings per share for the quarter, meeting the consensus estimate of $0.67. The firm had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.57 billion. Edwards Lifesciences had a net margin of 24.55% and a return on equity of 22.35%. The company’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.59 earnings per share. Equities research analysts predict that Edwards Lifesciences will post 2.61 earnings per share for the current fiscal year.

Insider Buying and Selling at Edwards Lifesciences

In other Edwards Lifesciences news, VP Daveen Chopra sold 1,250 shares of the business’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $69.95, for a total value of $87,437.50. Following the sale, the vice president now owns 29,333 shares of the company’s stock, valued at $2,051,843.35. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Edwards Lifesciences news, VP Donald E. Bobo, Jr. sold 5,000 shares of the business’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $66.08, for a total value of $330,400.00. Following the sale, the vice president now owns 46,936 shares of the company’s stock, valued at $3,101,530.88. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Daveen Chopra sold 1,250 shares of the business’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $69.95, for a total transaction of $87,437.50. Following the completion of the sale, the vice president now owns 29,333 shares in the company, valued at $2,051,843.35. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 16,250 shares of company stock valued at $1,099,238 in the last 90 days. 1.29% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Edwards Lifesciences

Several institutional investors and hedge funds have recently made changes to their positions in EW. Brookstone Capital Management boosted its stake in shares of Edwards Lifesciences by 3.2% in the 1st quarter. Brookstone Capital Management now owns 12,275 shares of the medical research company’s stock valued at $1,173,000 after purchasing an additional 383 shares in the last quarter. Citizens Business Bank acquired a new position in Edwards Lifesciences during the 1st quarter worth about $3,275,000. Chapin Davis Inc. lifted its position in Edwards Lifesciences by 1.7% during the 1st quarter. Chapin Davis Inc. now owns 8,548 shares of the medical research company’s stock worth $817,000 after buying an additional 140 shares in the last quarter. Aviance Capital Partners LLC lifted its position in Edwards Lifesciences by 61.8% during the 1st quarter. Aviance Capital Partners LLC now owns 7,194 shares of the medical research company’s stock worth $687,000 after buying an additional 2,748 shares in the last quarter. Finally, Miracle Mile Advisors LLC lifted its position in Edwards Lifesciences by 16.1% during the 1st quarter. Miracle Mile Advisors LLC now owns 10,878 shares of the medical research company’s stock worth $1,040,000 after buying an additional 1,507 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.