Edwards Lifesciences (NYSE:EW) PT Raised to $95.00 at Morgan Stanley

Edwards Lifesciences (NYSE:EWGet Free Report) had its price target increased by equities researchers at Morgan Stanley from $80.00 to $95.00 in a research report issued on Wednesday, Benzinga reports. The brokerage presently has an “overweight” rating on the medical research company’s stock. Morgan Stanley’s price objective suggests a potential upside of 10.72% from the stock’s previous close.

A number of other equities research analysts also recently issued reports on EW. Piper Sandler lowered their target price on shares of Edwards Lifesciences from $83.00 to $68.00 and set a “neutral” rating for the company in a report on Thursday, October 26th. Wells Fargo & Company upgraded shares of Edwards Lifesciences from an “equal weight” rating to an “overweight” rating and set a $94.00 target price for the company in a report on Friday, February 2nd. Evercore ISI downgraded shares of Edwards Lifesciences from an “outperform” rating to an “in-line” rating and lowered their target price for the company from $80.00 to $77.00 in a report on Thursday, January 4th. StockNews.com downgraded shares of Edwards Lifesciences from a “buy” rating to a “hold” rating in a report on Monday. Finally, Royal Bank of Canada boosted their price objective on shares of Edwards Lifesciences from $82.00 to $95.00 and gave the stock an “outperform” rating in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $87.38.

Read Our Latest Stock Analysis on Edwards Lifesciences

Edwards Lifesciences Stock Performance

Shares of EW opened at $85.80 on Wednesday. The company has a current ratio of 3.28, a quick ratio of 2.45 and a debt-to-equity ratio of 0.09. The stock has a market cap of $52.04 billion, a P/E ratio of 37.30, a PEG ratio of 4.85 and a beta of 1.04. The company has a 50-day moving average of $75.37 and a two-hundred day moving average of $73.64. Edwards Lifesciences has a 12-month low of $60.57 and a 12-month high of $94.87.

Edwards Lifesciences (NYSE:EWGet Free Report) last issued its quarterly earnings results on Tuesday, February 6th. The medical research company reported $0.64 EPS for the quarter, hitting analysts’ consensus estimates of $0.64. The business had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.50 billion. Edwards Lifesciences had a net margin of 23.35% and a return on equity of 23.84%. The company’s quarterly revenue was up 13.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.64 earnings per share. As a group, research analysts predict that Edwards Lifesciences will post 2.75 EPS for the current fiscal year.

Insider Buying and Selling at Edwards Lifesciences

In other news, Director Michael A. Mussallem sold 29,350 shares of the stock in a transaction that occurred on Wednesday, December 13th. The shares were sold at an average price of $74.62, for a total value of $2,190,097.00. Following the completion of the sale, the director now directly owns 4,486 shares of the company’s stock, valued at $334,745.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Heisz Leslie Stone sold 7,056 shares of the firm’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $86.45, for a total value of $609,991.20. Following the completion of the transaction, the director now directly owns 26,980 shares of the company’s stock, valued at $2,332,421. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Michael A. Mussallem sold 29,350 shares of the firm’s stock in a transaction on Wednesday, December 13th. The stock was sold at an average price of $74.62, for a total value of $2,190,097.00. Following the completion of the transaction, the director now directly owns 4,486 shares of the company’s stock, valued at $334,745.32. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 139,339 shares of company stock valued at $10,324,578. 1.29% of the stock is currently owned by corporate insiders.

Institutional Trading of Edwards Lifesciences

Hedge funds and other institutional investors have recently made changes to their positions in the business. Truvestments Capital LLC increased its position in Edwards Lifesciences by 260.0% in the second quarter. Truvestments Capital LLC now owns 270 shares of the medical research company’s stock worth $25,000 after purchasing an additional 195 shares during the period. Castleview Partners LLC acquired a new position in shares of Edwards Lifesciences during the 1st quarter worth about $25,000. Northwest Capital Management Inc acquired a new position in shares of Edwards Lifesciences during the 2nd quarter worth about $34,000. Compass Wealth Management LLC acquired a new position in shares of Edwards Lifesciences during the 4th quarter worth about $31,000. Finally, Creative Financial Designs Inc. ADV grew its position in shares of Edwards Lifesciences by 156.9% during the 2nd quarter. Creative Financial Designs Inc. ADV now owns 429 shares of the medical research company’s stock worth $40,000 after buying an additional 262 shares during the period. 79.25% of the stock is currently owned by institutional investors and hedge funds.

About Edwards Lifesciences

(Get Free Report)

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.

Recommended Stories

Analyst Recommendations for Edwards Lifesciences (NYSE:EW)

Receive News & Ratings for Edwards Lifesciences Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Edwards Lifesciences and related companies with MarketBeat.com's FREE daily email newsletter.