Evercore ISI Cuts Edwards Lifesciences (NYSE:EW) Price Target to $73.00

Edwards Lifesciences (NYSE:EW) had its target price cut by Evercore ISI from $75.00 to $73.00 in a research note published on Wednesday,Benzinga reports. They currently have an in-line rating on the medical research company’s stock.

A number of other analysts have also recently commented on the stock. Royal Bank of Canada lifted their target price on shares of Edwards Lifesciences from $80.00 to $85.00 and gave the stock an “outperform” rating in a research note on Thursday, December 5th. Bank of America raised shares of Edwards Lifesciences from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $82.00 to $90.00 in a report on Monday, December 16th. Stifel Nicolaus upgraded Edwards Lifesciences from a “hold” rating to a “buy” rating and raised their target price for the stock from $75.00 to $90.00 in a research note on Thursday, January 30th. Piper Sandler dropped their price target on Edwards Lifesciences from $73.00 to $70.00 and set a “neutral” rating on the stock in a research note on Friday, October 25th. Finally, Robert W. Baird reduced their price objective on Edwards Lifesciences from $73.00 to $68.00 and set a “neutral” rating for the company in a research note on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $79.71.

Edwards Lifesciences Price Performance

NYSE EW opened at $75.83 on Wednesday. The firm’s fifty day simple moving average is $72.47 and its two-hundred day simple moving average is $69.32. The firm has a market capitalization of $44.72 billion, a P/E ratio of 10.94, a P/E/G ratio of 3.64 and a beta of 1.10. The company has a current ratio of 3.46, a quick ratio of 2.89 and a debt-to-equity ratio of 0.06. Edwards Lifesciences has a 12-month low of $58.93 and a 12-month high of $96.12.

Edwards Lifesciences (NYSE:EW) last announced its earnings results on Tuesday, February 11th. The medical research company reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.04. Edwards Lifesciences had a return on equity of 20.76% and a net margin of 70.82%. Analysts forecast that Edwards Lifesciences will post 2.56 EPS for the current fiscal year.

Insider Transactions at Edwards Lifesciences

In other Edwards Lifesciences news, VP Daniel J. Lippis sold 500 shares of the company’s stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $68.76, for a total transaction of $34,380.00. Following the completion of the transaction, the vice president now directly owns 23,189 shares in the company, valued at approximately $1,594,475.64. This represents a 2.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.29% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Crowley Wealth Management Inc. purchased a new stake in Edwards Lifesciences during the 4th quarter worth approximately $26,000. Millstone Evans Group LLC acquired a new stake in shares of Edwards Lifesciences in the fourth quarter worth approximately $29,000. FSA Wealth Management LLC purchased a new stake in shares of Edwards Lifesciences during the third quarter worth approximately $30,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Edwards Lifesciences in the 4th quarter valued at $30,000. Finally, Prospera Private Wealth LLC acquired a new stake in Edwards Lifesciences during the 3rd quarter worth $32,000. Institutional investors and hedge funds 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.