Edwards Lifesciences (NYSE:EW - Get Free Report) had its target price lowered by investment analysts at Robert W. Baird from $73.00 to $68.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm presently has a "neutral" rating on the medical research company's stock. Robert W. Baird's price objective indicates a potential downside of 3.29% from the company's previous close.
A number of other research firms also recently weighed in on EW. StockNews.com downgraded Edwards Lifesciences from a "buy" rating to a "hold" rating in a research note on Thursday, July 25th. Daiwa Capital Markets raised Edwards Lifesciences from a "neutral" rating to an "outperform" rating in a research note on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Edwards Lifesciences from $103.00 to $85.00 and set a "buy" rating for the company in a report on Thursday, July 25th. Truist Financial decreased their price target on shares of Edwards Lifesciences from $82.00 to $71.00 and set a "hold" rating for the company in a report on Friday, September 13th. Finally, The Goldman Sachs Group reduced their target price on Edwards Lifesciences from $107.00 to $91.00 and set a "buy" rating on the stock in a report on Friday, July 26th. 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 company. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $75.71.
Get Our Latest Stock Analysis on Edwards Lifesciences
Shares of Edwards Lifesciences stock opened at $70.31 on Friday. The firm has a 50 day simple moving average of $68.04 and a 200 day simple moving average of $78.71. Edwards Lifesciences has a fifty-two week low of $58.93 and a fifty-two week high of $96.12. 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 cap of $42.37 billion, a P/E ratio of 30.31, a P/E/G ratio of 2.83 and a beta of 1.13.
Edwards Lifesciences (NYSE:EW - Get Free Report) last posted its quarterly earnings results on Thursday, October 24th. The medical research company reported $0.67 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.67. Edwards Lifesciences had a return on equity of 22.35% and a net margin of 24.55%. The business had revenue of $1.35 billion for the quarter, compared to analysts' expectations of $1.57 billion. During the same quarter last year, the business earned $0.59 earnings per share. The firm's quarterly revenue was up 8.9% compared to the same quarter last year. Sell-side analysts predict that Edwards Lifesciences will post 2.71 earnings per share for the current fiscal year.
In other news, VP Donald E. Bobo, Jr. sold 5,000 shares of the stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $69.51, for a total value of $347,550.00. Following the completion of the sale, the vice president now owns 46,936 shares of the company's stock, valued at approximately $3,262,521.36. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Edwards Lifesciences news, VP Daveen Chopra sold 1,250 shares of the business'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 transaction of $87,437.50. Following the transaction, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Donald E. Bobo, Jr. sold 5,000 shares of the firm's stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $69.51, for a total value of $347,550.00. Following the completion of the sale, 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 0.00 % decrease in their ownership of the stock. 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 insiders.
Large investors have recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD increased its holdings in shares of Edwards Lifesciences by 57.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,516,260 shares of the medical research company's stock valued at $622,695,000 after purchasing an additional 2,390,137 shares during the last quarter. CCLA Investment Management boosted its holdings in shares of Edwards Lifesciences by 100,739.7% during the 1st quarter. CCLA Investment Management now owns 1,406,714 shares of the medical research company's stock worth $134,092,000 after buying an additional 1,405,319 shares during the period. Swedbank AB acquired a new position in Edwards Lifesciences in the 1st quarter valued at about $124,511,000. Sei Investments Co. raised its holdings in Edwards Lifesciences by 162.7% in the 1st quarter. Sei Investments Co. now owns 1,465,719 shares of the medical research company's stock valued at $140,064,000 after acquiring an additional 907,688 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in Edwards Lifesciences by 4.3% during the second quarter. Bank of New York Mellon Corp now owns 19,782,909 shares of the medical research company's stock worth $1,827,347,000 after acquiring an additional 809,605 shares during the last quarter. Institutional investors own 79.46% of the company's stock.
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.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Before you consider Edwards Lifesciences, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Edwards Lifesciences wasn't on the list.
While Edwards Lifesciences currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.