Edwards Lifesciences (NYSE:EW) Price Target Raised to $101.00 at Royal Bank of Canada

Edwards Lifesciences (NYSE:EW) had its target price boosted by Royal Bank of Canada from $95.00 to $101.00 in a research note issued to investors on Monday, Benzinga reports. The firm presently has an “outperform” rating on the medical research company’s stock. Royal Bank of Canada’s price objective would indicate a potential upside of 12.15% from the company’s current price.

Several other equities analysts have also recently weighed in on the company. Evercore ISI lifted their price target on Edwards Lifesciences from $86.00 to $92.00 and gave the company an “in-line” rating in a research report on Thursday, April 4th. Citigroup lifted their price target on Edwards Lifesciences from $90.00 to $98.00 and gave the company a “neutral” rating in a research report on Wednesday, April 3rd. Bank of America upgraded Edwards Lifesciences from a “neutral” rating to a “buy” rating in a research report on Thursday, March 7th. Truist Financial boosted their target price on Edwards Lifesciences from $78.00 to $84.00 and gave the stock a “buy” rating in a research report on Friday, December 22nd. Finally, Stifel Nicolaus boosted their target price on Edwards Lifesciences from $70.00 to $83.00 and gave the stock a “hold” rating in a research report on Wednesday, February 7th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $91.73.

Edwards Lifesciences Stock Performance

NYSE:EW opened at $90.06 on Monday. The company has a debt-to-equity ratio of 0.09, a current ratio of 3.38 and a quick ratio of 2.40. The business has a fifty day simple moving average of $90.11 and a two-hundred day simple moving average of $78.07. Edwards Lifesciences has a 1 year low of $60.57 and a 1 year high of $96.12. The company has a market capitalization of $54.21 billion, a P/E ratio of 39.16, a P/E/G ratio of 4.47 and a beta of 1.05.

Edwards Lifesciences (NYSE:EW) last released its earnings results on Tuesday, February 6th. The medical research company reported $0.64 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.64. Edwards Lifesciences had a return on equity of 23.56% and a net margin of 23.35%. The business had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.50 billion. During the same period last year, the business posted $0.64 earnings per share. The business’s revenue for the quarter was up 13.3% on a year-over-year basis. On average, analysts expect that Edwards Lifesciences will post 2.76 earnings per share for the current year.

Insider Transactions at Edwards Lifesciences

In other news, VP Jean-Luc M. Lemercier sold 14,400 shares of the firm’s stock in a transaction on Monday, April 8th. The stock was sold at an average price of $92.32, for a total value of $1,329,408.00. Following the transaction, the vice president now directly owns 173,849 shares in the company, valued at approximately $16,049,739.68. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CFO Scott B. Ullem sold 7,255 shares of Edwards Lifesciences stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $78.29, for a total transaction of $567,993.95. Following the transaction, the chief financial officer now directly owns 19,248 shares in the company, valued at $1,506,925.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Jean-Luc M. Lemercier sold 14,400 shares of Edwards Lifesciences stock in a transaction on Monday, April 8th. The shares were sold at an average price of $92.32, for a total value of $1,329,408.00. Following the transaction, the vice president now owns 173,849 shares in the company, valued at $16,049,739.68. The disclosure for this sale can be found here. Insiders have sold a total of 194,004 shares of company stock worth $17,166,254 in the last ninety days. Insiders own 1.27% of the company’s stock.

Institutional Investors Weigh In On Edwards Lifesciences

Institutional investors and hedge funds have recently bought and sold shares of the business. Nordea Investment Management AB increased its stake in Edwards Lifesciences by 1,224.1% during the fourth quarter. Nordea Investment Management AB now owns 1,610,412 shares of the medical research company’s stock worth $123,261,000 after acquiring an additional 1,488,791 shares during the last quarter. Arlington Trust Co LLC increased its stake in Edwards Lifesciences by 5,092.4% during the fourth quarter. Arlington Trust Co LLC now owns 12,306 shares of the medical research company’s stock worth $938,000 after acquiring an additional 12,069 shares during the last quarter. Versor Investments LP increased its stake in Edwards Lifesciences by 83.3% during the third quarter. Versor Investments LP now owns 4,496 shares of the medical research company’s stock worth $311,000 after acquiring an additional 2,043 shares during the last quarter. Gateway Investment Advisers LLC increased its stake in Edwards Lifesciences by 12.2% during the fourth quarter. Gateway Investment Advisers LLC now owns 253,337 shares of the medical research company’s stock worth $19,317,000 after acquiring an additional 27,519 shares during the last quarter. Finally, US Bancorp DE increased its stake in Edwards Lifesciences by 0.6% during the third quarter. US Bancorp DE now owns 850,257 shares of the medical research company’s stock worth $58,906,000 after acquiring an additional 5,409 shares during the last quarter. 79.46% of the stock is owned by institutional investors.

About Edwards Lifesciences

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.