Piper Sandler Trims Edwards Lifesciences (NYSE:EW) Target Price to $70.00

Edwards Lifesciences (NYSE:EW) had its price objective decreased by equities researchers at Piper Sandler from $73.00 to $70.00 in a note issued to investors on Friday, Benzinga reports. The firm presently has a “neutral” rating on the medical research company’s stock. Piper Sandler’s price target would indicate a potential upside of 1.45% from the company’s previous close.

A number of other research firms have also weighed in on EW. The Goldman Sachs Group decreased their target price on shares of Edwards Lifesciences from $107.00 to $91.00 and set a “buy” rating on the stock in a research note on Friday, July 26th. Jefferies Financial Group lowered Edwards Lifesciences from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $85.00 to $70.00 in a research note on Wednesday, September 18th. StockNews.com cut Edwards Lifesciences from a “buy” rating to a “hold” rating in a report on Thursday, July 25th. Daiwa Capital Markets upgraded Edwards Lifesciences from a “neutral” rating to an “outperform” rating in a report on Wednesday, July 31st. Finally, Citigroup dropped their price objective on shares of Edwards Lifesciences from $83.00 to $77.00 and set a “buy” rating for the company in a report on Tuesday, October 1st. Fifteen equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $75.81.

Edwards Lifesciences Price Performance

NYSE:EW traded down $1.35 during trading hours on Friday, reaching $69.00. 1,831,454 shares of the company were exchanged, compared to its average volume of 4,564,587. Edwards Lifesciences has a twelve month low of $58.93 and a twelve month high of $96.12. The company has a current ratio of 3.71, a quick ratio of 2.87 and a debt-to-equity ratio of 0.08. The stock’s 50-day moving average is $68.04 and its 200-day moving average is $78.71. The firm has a market cap of $41.58 billion, a PE ratio of 29.74, a price-to-earnings-growth ratio of 2.83 and a beta of 1.13.

Edwards Lifesciences (NYSE:EW) last posted its quarterly earnings data on Thursday, October 24th. The medical research company reported $0.67 EPS for the quarter, meeting the consensus estimate of $0.67. The firm had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.57 billion. Edwards Lifesciences had a return on equity of 22.35% and a net margin of 24.55%. The firm’s revenue was up 8.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.59 EPS. On average, sell-side analysts anticipate that Edwards Lifesciences will post 2.71 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Edwards Lifesciences news, VP Daveen Chopra sold 1,250 shares of Edwards Lifesciences stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $69.95, for a total value of $87,437.50. Following the completion of the transaction, the vice president now directly owns 29,333 shares of the company’s stock, valued at $2,051,843.35. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, VP Daveen Chopra sold 1,250 shares of the 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 directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Donald E. Bobo, Jr. sold 5,000 shares of Edwards Lifesciences stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $66.08, for a total value of $330,400.00. Following the completion of the transaction, the vice president now owns 46,936 shares of the company’s stock, valued at approximately $3,101,530.88. 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 90 days, insiders have sold 16,250 shares of company stock valued at $1,099,238. Corporate insiders own 1.29% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC boosted its holdings in shares of Edwards Lifesciences by 4.4% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 330,711 shares of the medical research company’s stock valued at $31,603,000 after buying an additional 14,087 shares in the last quarter. Empowered Funds LLC grew its holdings in shares of Edwards Lifesciences by 151.2% during the first quarter. Empowered Funds LLC now owns 20,123 shares of the medical research company’s stock worth $1,923,000 after purchasing an additional 12,112 shares during the last quarter. Cetera Advisors LLC grew its holdings in shares of Edwards Lifesciences by 175.1% during the first quarter. Cetera Advisors LLC now owns 38,090 shares of the medical research company’s stock worth $3,640,000 after purchasing an additional 24,242 shares during the last quarter. Financial Sense Advisors Inc. acquired a new stake in shares of Edwards Lifesciences during the first quarter worth about $975,000. Finally, BDF Gestion purchased a new stake in shares of Edwards Lifesciences in the 2nd quarter valued at about $5,148,000. 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.