Edwards Lifesciences’ (EW) “Outperform” Rating Reaffirmed at Oppenheimer

Edwards Lifesciences (NYSE:EW)‘s stock had its “outperform” rating reiterated by research analysts at Oppenheimer in a research note issued on Thursday, Benzinga reports. They currently have a $90.00 price target on the medical research company’s stock. Oppenheimer’s price objective would suggest a potential upside of 34.71% from the stock’s current price.

Other equities analysts have also recently issued reports about the stock. Wells Fargo & Company lowered their price objective on shares of Edwards Lifesciences from $90.00 to $80.00 and set an “overweight” rating on the stock in a research report on Monday. JPMorgan Chase & Co. lowered Edwards Lifesciences from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $105.00 to $72.00 in a research report on Thursday, July 25th. Truist Financial lowered Edwards Lifesciences from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $110.00 to $82.00 in a research report on Thursday, July 25th. Baird R W downgraded Edwards Lifesciences from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 25th. Finally, UBS Group decreased their price target on shares of Edwards Lifesciences from $90.00 to $75.00 and set a “neutral” rating for the company in a report on Tuesday. Fifteen equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Edwards Lifesciences has a consensus rating of “Hold” and a consensus target price of $80.81.

Edwards Lifesciences Stock Performance

Shares of EW traded down $1.44 during trading hours on Thursday, reaching $66.81. 1,027,146 shares of the company’s stock traded hands, compared to its average volume of 4,196,526. Edwards Lifesciences has a twelve month low of $58.93 and a twelve month high of $96.12. The business’s fifty day simple moving average is $73.32 and its two-hundred day simple moving average is $83.72. 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 capitalization of $40.26 billion, a price-to-earnings ratio of 28.80, a P/E/G ratio of 2.79 and a beta of 1.13.

Edwards Lifesciences (NYSE:EW) last released its quarterly earnings results on Wednesday, July 24th. The medical research company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.01. Edwards Lifesciences had a net margin of 24.55% and a return on equity of 22.35%. The company had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.65 billion. During the same period in the previous year, the firm earned $0.66 EPS. Edwards Lifesciences’s revenue was up 6.7% on a year-over-year basis. Analysts predict that Edwards Lifesciences will post 2.7 earnings per share for the current year.

Insider Activity at Edwards Lifesciences

In other news, VP Donald E. Bobo, Jr. sold 5,000 shares of the stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $66.08, for a total transaction of $330,400.00. Following the sale, the vice president now owns 46,936 shares in the company, valued at $3,101,530.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Edwards Lifesciences news, VP Donald E. Bobo, Jr. sold 5,000 shares of the company’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $66.08, for a total transaction of $330,400.00. Following the transaction, the vice president now owns 46,936 shares of the company’s stock, valued at approximately $3,101,530.88. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 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 sale, the vice president now owns 29,333 shares of the company’s stock, valued at approximately $2,051,843.35. The disclosure for this sale can be found here. Insiders sold 16,250 shares of company stock valued at $1,218,138 in the last three months. Corporate insiders own 1.29% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Norges Bank bought a new position in Edwards Lifesciences during the fourth quarter worth about $648,540,000. Brown Advisory Inc. increased its stake in Edwards Lifesciences by 20.1% in the fourth quarter. Brown Advisory Inc. now owns 18,181,420 shares of the medical research company’s stock valued at $1,386,333,000 after purchasing an additional 3,048,274 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in 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 worth $622,695,000 after purchasing an additional 2,390,137 shares during the period. CIBC Private Wealth Group LLC boosted its position in shares of Edwards Lifesciences by 197.0% during the fourth quarter. CIBC Private Wealth Group LLC now owns 3,446,758 shares of the medical research company’s stock worth $262,815,000 after purchasing an additional 2,286,119 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of Edwards Lifesciences by 9.5% in the 1st quarter. Bank of New York Mellon Corp now owns 18,973,304 shares of the medical research company’s stock valued at $1,813,089,000 after buying an additional 1,644,869 shares during the period. 79.46% of the stock is currently owned by institutional investors.

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.