Edwards Lifesciences (NYSE:EW) Price Target Raised to $80.00 at Royal Bank of Canada

Edwards Lifesciences (NYSE:EW) had its price target increased by Royal Bank of Canada from $75.00 to $80.00 in a research note published on Wednesday,Benzinga reports. The brokerage currently has an outperform rating on the medical research company’s stock.

Several other brokerages also recently commented on EW. Daiwa America downgraded shares of Edwards Lifesciences from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Canaccord Genuity Group lowered their price objective on shares of Edwards Lifesciences from $66.00 to $63.00 and set a “hold” rating for the company in a research note on Friday, October 25th. Truist Financial reduced their price target on Edwards Lifesciences from $71.00 to $70.00 and set a “hold” rating on the stock in a report on Friday, October 25th. Citigroup dropped their price objective on Edwards Lifesciences from $83.00 to $77.00 and set a “buy” rating for the company in a report on Tuesday, October 1st. Finally, Evercore ISI reduced their target price on Edwards Lifesciences from $76.00 to $70.00 and set an “in-line” rating on the stock in a research note on Tuesday, October 1st. Seventeen equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $75.90.

Edwards Lifesciences Stock Performance

NYSE EW opened at $72.06 on Wednesday. The company has a 50-day simple moving average of $67.92 and a two-hundred day simple moving average of $75.35. Edwards Lifesciences has a 12-month low of $58.93 and a 12-month high of $96.12. The firm has a market cap of $42.50 billion, a price-to-earnings ratio of 10.40, a PEG ratio of 4.01 and a beta of 1.12. The company has a quick ratio of 2.89, a current ratio of 3.46 and a debt-to-equity ratio of 0.06.

Edwards Lifesciences (NYSE:EW) last issued its earnings results 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 company had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.57 billion. Edwards Lifesciences had a return on equity of 20.76% and a net margin of 70.82%. Edwards Lifesciences’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.59 EPS. On average, equities analysts forecast that Edwards Lifesciences will post 2.57 EPS for the current year.

Insider Buying and Selling

In other Edwards Lifesciences news, insider Larry L. Wood sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $65.91, for a total transaction of $1,647,750.00. Following the completion of the sale, the insider now directly owns 198,526 shares in the company, valued at approximately $13,084,848.66. This trade represents a 11.18 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Donald E. Bobo, Jr. sold 5,000 shares of the company’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 completion of the transaction, the vice president now owns 46,936 shares in the company, valued at approximately $3,262,521.36. This represents a 9.63 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 40,000 shares of company stock worth $2,657,000 in the last 90 days. Insiders own 1.27% of the company’s stock.

Institutional Trading of Edwards Lifesciences

A number of institutional investors have recently made changes to their positions in the stock. Wellington Management Group LLP lifted its position in Edwards Lifesciences by 86.3% during the third quarter. Wellington Management Group LLP now owns 31,532,725 shares of the medical research company’s stock valued at $2,080,845,000 after purchasing an additional 14,610,123 shares during the period. Jacobs Levy Equity Management Inc. raised its stake in Edwards Lifesciences by 239.9% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 3,693,663 shares of the medical research company’s stock valued at $243,745,000 after buying an additional 2,606,950 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Edwards Lifesciences by 4.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 19,782,909 shares of the medical research company’s stock valued at $1,827,347,000 after buying an additional 809,605 shares during the period. Fisher Asset Management LLC boosted its stake in shares of Edwards Lifesciences by 9.8% in the 3rd quarter. Fisher Asset Management LLC now owns 9,078,311 shares of the medical research company’s stock worth $599,078,000 after buying an additional 806,705 shares during the last quarter. Finally, Worldquant Millennium Advisors LLC bought a new stake in shares of Edwards Lifesciences in the third quarter worth $39,628,000. Hedge funds and other institutional investors own 79.46% of the company’s stock.

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.