Daiwa America Downgrades Edwards Lifesciences (NYSE:EW) to Hold

Edwards Lifesciences (NYSE:EW) was downgraded by equities research analysts at Daiwa America from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Wednesday, Zacks.com reports.

Several other equities analysts also recently weighed in on EW. Sanford C. Bernstein raised Edwards Lifesciences from a “strong sell” rating to a “hold” rating in a research report on Monday. Royal Bank of Canada reduced their price objective on shares of Edwards Lifesciences from $85.00 to $75.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 8th. Piper Sandler dropped their target price on Edwards Lifesciences from $73.00 to $70.00 and set a “neutral” rating for the company in a research report on Friday, October 25th. Daiwa Capital Markets raised Edwards Lifesciences from a “neutral” rating to an “outperform” rating in a research note on Wednesday, July 31st. Finally, Jefferies Financial Group lowered Edwards Lifesciences from a “buy” rating to a “hold” rating and decreased their price target for the stock from $85.00 to $70.00 in a research note on Wednesday, September 18th. Seventeen research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $75.67.

Edwards Lifesciences Stock Down 2.3 %

Shares of EW stock opened at $67.02 on Wednesday. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.71 and a quick ratio of 2.87. Edwards Lifesciences has a one year low of $58.93 and a one year high of $96.12. The company’s fifty day moving average price is $67.98 and its 200-day moving average price is $77.85. The company has a market capitalization of $40.37 billion, a price-to-earnings ratio of 9.67, a PEG ratio of 3.86 and a beta of 1.13.

Edwards Lifesciences (NYSE:EW) last posted its quarterly earnings results on Thursday, October 24th. The medical research company reported $0.67 EPS for the quarter, hitting analysts’ consensus estimates of $0.67. The company had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.57 billion. Edwards Lifesciences had a return on equity of 22.56% and a net margin of 70.82%. The firm’s revenue was up 8.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.59 EPS. Sell-side analysts expect that Edwards Lifesciences will post 2.57 EPS for the current fiscal year.

Insider Transactions at Edwards Lifesciences

In other news, VP Donald E. Bobo, Jr. sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $69.51, for a total value of $347,550.00. Following the sale, the vice president now directly owns 46,936 shares in the company, valued at approximately $3,262,521.36. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, VP Donald E. Bobo, Jr. sold 5,000 shares of the firm’s stock in a transaction 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 $3,262,521.36. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Daveen Chopra sold 1,250 shares of the business’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $69.95, for a total value of $87,437.50. Following the transaction, the vice president now owns 29,333 shares in the company, valued at approximately $2,051,843.35. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 16,250 shares of company stock valued at $1,099,238. Corporate insiders own 1.29% of the company’s stock.

Institutional Trading of Edwards Lifesciences

A number of institutional investors have recently bought and sold shares of the stock. 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. CCLA Investment Management raised its position in 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 last quarter. Swedbank AB acquired a new stake in Edwards Lifesciences during the 1st quarter valued at approximately $124,511,000. Sei Investments Co. boosted its holdings in shares of 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 last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of Edwards Lifesciences by 4.3% in 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 period. 79.46% of the stock is currently 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.