Evercore ISI Lowers Edwards Lifesciences (NYSE:EW) Price Target to $70.00

Edwards Lifesciences (NYSE:EW) had its price objective cut by Evercore ISI from $76.00 to $70.00 in a research note issued on Tuesday, Benzinga reports. The brokerage presently has an “in-line” rating on the medical research company’s stock. Evercore ISI’s price objective would indicate a potential upside of 7.44% from the company’s previous close.

A number of other research analysts have also commented on EW. Citigroup upped their price objective on Edwards Lifesciences from $105.00 to $106.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Daiwa America raised shares of Edwards Lifesciences to a “strong-buy” rating in a research report on Wednesday, July 31st. UBS Group cut their price objective on shares of Edwards Lifesciences from $90.00 to $75.00 and set a “neutral” rating for the company in a report on Tuesday, September 10th. Jefferies Financial Group cut shares of Edwards Lifesciences from a “buy” rating to a “hold” rating and lowered their target price for the stock from $85.00 to $70.00 in a report on Wednesday, September 18th. Finally, Piper Sandler cut their price target on Edwards Lifesciences from $88.00 to $73.00 and set a “neutral” rating for the company in a research note on Thursday, July 25th. Sixteen analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $78.23.

Edwards Lifesciences Stock Performance

NYSE EW opened at $65.15 on Tuesday. The stock has a market cap of $39.26 billion, a PE ratio of 28.08, a P/E/G ratio of 2.80 and a beta of 1.13. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.87 and a current ratio of 3.71. The firm has a 50-day moving average of $66.47 and a 200-day moving average of $81.39. 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 Wednesday, July 24th. The medical research company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.01. Edwards Lifesciences had a net margin of 24.55% and a return on equity of 22.35%. The firm had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.65 billion. During the same period last year, the business posted $0.66 earnings per share. The business’s revenue for the quarter was up 6.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Edwards Lifesciences will post 2.71 EPS for the current year.

Insider Activity

In related news, VP Donald E. Bobo, Jr. sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $66.08, for a total transaction of $330,400.00. Following the completion of the transaction, the vice president now directly owns 46,936 shares in the company, valued at approximately $3,101,530.88. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, VP Daveen Chopra sold 1,250 shares of the firm’s stock in a transaction 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 sale, the vice president now owns 29,333 shares of the company’s stock, valued at approximately $2,051,843.35. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Donald E. Bobo, Jr. sold 5,000 shares of the business’s stock in a transaction on Wednesday, August 14th. The stock was 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 in the company, valued at approximately $3,101,530.88. The disclosure for this sale can be found here. In the last three months, insiders have sold 16,250 shares of company stock worth $1,218,138. Corporate insiders own 1.29% of the company’s stock.

Institutional Trading of Edwards Lifesciences

Hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in Edwards Lifesciences by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 52,964,394 shares of the medical research company’s stock valued at $5,061,277,000 after buying an additional 600,994 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of 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 valued at $1,827,347,000 after acquiring an additional 809,605 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of Edwards Lifesciences by 2.4% during the fourth quarter. Wellington Management Group LLP now owns 16,827,510 shares of the medical research company’s stock worth $1,283,098,000 after purchasing an additional 393,109 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of Edwards Lifesciences by 57.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,516,260 shares of the medical research company’s stock worth $622,695,000 after purchasing an additional 2,390,137 shares during the period. Finally, Champlain Investment Partners LLC grew its stake in shares of Edwards Lifesciences by 3.1% in the first quarter. Champlain Investment Partners LLC now owns 2,964,168 shares of the medical research company’s stock worth $283,256,000 after purchasing an additional 88,205 shares during the last quarter. 79.46% of the stock is owned by institutional investors and hedge funds.

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.