Edwards Lifesciences (NYSE:EW) Price Target Raised to $83.00

Edwards Lifesciences (NYSE:EW) had its price objective raised by equities researchers at Citigroup from $81.00 to $83.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the medical research company’s stock. Citigroup’s target price would suggest a potential upside of 12.86% from the stock’s previous close.

Several other research firms have also recently commented on EW. Piper Sandler cut their price target on Edwards Lifesciences from $73.00 to $70.00 and set a “neutral” rating for the company in a research note on Friday, October 25th. The Goldman Sachs Group upped their price target on Edwards Lifesciences from $81.00 to $90.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. Jefferies Financial Group cut Edwards Lifesciences from a “buy” rating to a “hold” rating and cut their price target for the stock from $85.00 to $70.00 in a research note on Wednesday, September 18th. Canaccord Genuity Group upped their price target on Edwards Lifesciences from $63.00 to $68.00 and gave the stock a “hold” rating in a research note on Thursday, December 5th. Finally, Robert W. Baird cut their price objective on Edwards Lifesciences from $73.00 to $68.00 and set a “neutral” rating for the company in a research report on Friday, October 25th. Seventeen equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $78.65.

Edwards Lifesciences Stock Up 0.2 %

EW traded up $0.15 on Wednesday, reaching $73.54. The company’s stock had a trading volume of 1,471,573 shares, compared to its average volume of 4,643,711. The stock has a 50 day moving average of $68.92 and a two-hundred day moving average of $74.19. The company has a quick ratio of 2.89, a current ratio of 3.46 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $43.37 billion, a price-to-earnings ratio of 10.60, a P/E/G ratio of 3.52 and a beta of 1.12. Edwards Lifesciences has a fifty-two week low of $58.93 and a fifty-two 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 analysts’ consensus estimates of $0.67. Edwards Lifesciences had a return on equity of 20.76% and a net margin of 70.82%. The company had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.57 billion. During the same quarter in the previous year, the business earned $0.59 earnings per share. The firm’s revenue for the quarter was up 8.9% on a year-over-year basis. As a group, analysts forecast that Edwards Lifesciences will post 2.56 EPS for the current fiscal year.

Insider Activity

In related news, VP Donald E. Bobo, Jr. sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $69.51, for a total transaction of $347,550.00. Following the transaction, the vice president now directly owns 46,936 shares of the company’s stock, valued at approximately $3,262,521.36. The trade was a 9.63 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Larry L. Wood sold 25,000 shares of the business’s stock in a transaction that occurred 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 in the company, valued at $13,084,848.66. This trade represents a 11.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 35,000 shares of company stock valued at $2,323,150 in the last three months. Corporate insiders own 1.27% of the company’s stock.

Hedge Funds Weigh In On Edwards Lifesciences

A number of institutional investors have recently made changes to their positions in the business. Stableford Capital II LLC increased its holdings in shares of Edwards Lifesciences by 2.7% in the 2nd quarter. Stableford Capital II LLC now owns 6,104 shares of the medical research company’s stock valued at $533,000 after acquiring an additional 159 shares during the last quarter. Purus Wealth Management LLC increased its holdings in shares of Edwards Lifesciences by 5.2% in the 2nd quarter. Purus Wealth Management LLC now owns 3,212 shares of the medical research company’s stock valued at $297,000 after acquiring an additional 160 shares during the last quarter. Busey Bank increased its holdings in shares of Edwards Lifesciences by 1.9% in the 2nd quarter. Busey Bank now owns 8,838 shares of the medical research company’s stock valued at $816,000 after acquiring an additional 165 shares during the last quarter. Commerzbank Aktiengesellschaft FI increased its holdings in shares of Edwards Lifesciences by 7.4% in the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 2,415 shares of the medical research company’s stock valued at $224,000 after acquiring an additional 166 shares during the last quarter. Finally, JFS Wealth Advisors LLC increased its holdings in shares of Edwards Lifesciences by 31.1% in the 3rd quarter. JFS Wealth Advisors LLC now owns 700 shares of the medical research company’s stock valued at $46,000 after acquiring an additional 166 shares during the last quarter. 79.46% of the stock is owned by institutional investors and hedge funds.

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.