Citigroup Boosts Edwards Lifesciences (NYSE:EW) Price Target to $118.00

Edwards Lifesciences (NYSE:EWGet Rating) had its price target lifted by Citigroup from $115.00 to $118.00 in a research note published on Friday morning, The Fly reports. The firm currently has a maintains rating on the medical research company’s stock.

Other equities analysts also recently issued reports about the stock. William Blair reissued an outperform rating on shares of Edwards Lifesciences in a research report on Tuesday, April 26th. Canaccord Genuity Group lowered their target price on shares of Edwards Lifesciences from $152.00 to $137.00 in a research report on Wednesday, April 27th. Stifel Nicolaus lowered their target price on shares of Edwards Lifesciences from $128.00 to $115.00 in a research report on Monday, July 18th. Cowen lowered their target price on shares of Edwards Lifesciences from $140.00 to $125.00 in a research report on Monday, July 11th. Finally, Piper Sandler lowered their target price on shares of Edwards Lifesciences from $125.00 to $120.00 and set a maintains rating on the stock in a research report on Friday. Five equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $126.55.

Edwards Lifesciences Price Performance

EW opened at $99.45 on Friday. The stock has a fifty day moving average of $96.84 and a 200-day moving average of $105.54. The firm has a market capitalization of $61.83 billion, a P/E ratio of 43.05, a PEG ratio of 2.97 and a beta of 1.12. Edwards Lifesciences has a 12-month low of $85.58 and a 12-month high of $131.73. The company has a quick ratio of 2.60, a current ratio of 3.37 and a debt-to-equity ratio of 0.10.

Edwards Lifesciences (NYSE:EWGet Rating) last released its earnings results on Thursday, July 28th. The medical research company reported $0.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.01). Edwards Lifesciences had a net margin of 27.18% and a return on equity of 24.77%. The business had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.40 billion. During the same quarter in the previous year, the company earned $0.64 EPS. Edwards Lifesciences’s revenue for the quarter was down .2% on a year-over-year basis. Equities analysts forecast that Edwards Lifesciences will post 2.51 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Michael A. Mussallem sold 19,875 shares of the business’s stock in a transaction on Thursday, July 14th. The shares were sold at an average price of $95.88, for a total value of $1,905,615.00. Following the sale, the chief executive officer now directly owns 166,853 shares of the company’s stock, valued at approximately $15,997,865.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Michael A. Mussallem sold 19,875 shares of the company’s stock in a transaction dated Thursday, July 14th. The shares were sold at an average price of $95.88, for a total value of $1,905,615.00. Following the sale, the chief executive officer now directly owns 166,853 shares of the company’s stock, valued at approximately $15,997,865.64. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Catherine M. Szyman sold 23,400 shares of the company’s stock in a transaction dated Wednesday, May 4th. The shares were sold at an average price of $104.86, for a total transaction of $2,453,724.00. Following the completion of the sale, the vice president now directly owns 30,851 shares in the company, valued at $3,235,035.86. The disclosure for this sale can be found here. In the last 90 days, insiders sold 138,443 shares of company stock valued at $13,291,621. Company insiders own 1.29% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in EW. BlackRock Inc. lifted its holdings in shares of Edwards Lifesciences by 7.6% during the 4th quarter. BlackRock Inc. now owns 57,040,983 shares of the medical research company’s stock worth $7,389,659,000 after acquiring an additional 4,007,132 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Edwards Lifesciences by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 49,724,866 shares of the medical research company’s stock worth $5,853,612,000 after acquiring an additional 648,217 shares during the period. State Street Corp lifted its stake in Edwards Lifesciences by 3.7% in the 4th quarter. State Street Corp now owns 26,920,713 shares of the medical research company’s stock valued at $3,487,578,000 after purchasing an additional 948,638 shares during the last quarter. Capital International Investors lifted its stake in Edwards Lifesciences by 1.0% in the 1st quarter. Capital International Investors now owns 22,150,133 shares of the medical research company’s stock valued at $2,607,436,000 after purchasing an additional 218,908 shares during the last quarter. Finally, Alliancebernstein L.P. lifted its stake in Edwards Lifesciences by 4.6% in the 4th quarter. Alliancebernstein L.P. now owns 13,398,520 shares of the medical research company’s stock valued at $1,735,778,000 after purchasing an additional 583,209 shares during the last quarter. Institutional investors and hedge funds own 82.54% of the company’s stock.

Edwards Lifesciences Company Profile

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Edwards Lifesciences Corporation provides products and technologies for structural heart disease, and critical care and surgical monitoring in the United States, Europe, Japan, and internationally. It offers transcatheter heart valve replacement products for the minimally invasive replacement of heart valves; and transcatheter heart valve repair and replacement products to treat mitral and tricuspid valve diseases.

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