Edwards Lifesciences (NYSE:EW) Price Target Raised to $99.00

Edwards Lifesciences (NYSE:EW) had its price target increased by Wells Fargo & Company from $94.00 to $99.00 in a research report sent to investors on Friday morning, Benzinga reports. Wells Fargo & Company currently has an overweight rating on the medical research company’s stock.

Other equities research analysts have also recently issued reports about the stock. Evercore ISI decreased their price objective on shares of Edwards Lifesciences from $92.00 to $89.00 and set an in-line rating for the company in a report on Friday. Stifel Nicolaus upped their price objective on shares of Edwards Lifesciences from $83.00 to $85.00 and gave the stock a hold rating in a report on Friday. OTR Global raised shares of Edwards Lifesciences from a mixed rating to a positive rating in a research report on Tuesday, March 26th. Piper Sandler boosted their target price on shares of Edwards Lifesciences from $85.00 to $88.00 and gave the stock a neutral rating in a research report on Friday. Finally, Bank of America raised shares of Edwards Lifesciences from a neutral rating to a buy rating in a research report on Thursday, March 7th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus price target of $92.71.

Edwards Lifesciences Trading Down 1.8 %

Shares of NYSE:EW opened at $86.43 on Friday. The firm has a fifty day moving average of $90.28 and a two-hundred day moving average of $78.95. The firm has a market capitalization of $52.02 billion, a P/E ratio of 37.25, a price-to-earnings-growth ratio of 4.29 and a beta of 1.05. Edwards Lifesciences has a 12-month low of $60.57 and a 12-month high of $96.12. The company has a quick ratio of 2.40, a current ratio of 3.38 and a debt-to-equity ratio of 0.09.

Edwards Lifesciences (NYSE:EW) last issued its quarterly earnings data on Thursday, April 25th. The medical research company reported $0.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.02. The firm had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.58 billion. Edwards Lifesciences had a net margin of 23.01% and a return on equity of 23.34%. On average, equities analysts expect that Edwards Lifesciences will post 2.76 EPS for the current fiscal year.

Insider Activity

In other news, CFO Scott B. Ullem sold 7,255 shares of the company’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $78.29, for a total transaction of $567,993.95. Following the completion of the transaction, the chief financial officer now owns 19,248 shares of the company’s stock, valued at $1,506,925.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO Scott B. Ullem sold 7,255 shares of the stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $78.29, for a total value of $567,993.95. Following the completion of the transaction, the chief financial officer now owns 19,248 shares of the company’s stock, valued at $1,506,925.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Jean-Luc M. Lemercier sold 14,400 shares of the stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $92.32, for a total transaction of $1,329,408.00. Following the completion of the transaction, the vice president now directly owns 173,849 shares of the company’s stock, valued at approximately $16,049,739.68. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 194,004 shares of company stock valued at $17,166,254. Insiders own 1.29% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. DSM Capital Partners LLC bought a new stake in Edwards Lifesciences during the fourth quarter worth about $28,000. Turtle Creek Wealth Advisors LLC bought a new stake in Edwards Lifesciences during the fourth quarter worth about $34,000. Riverview Trust Co bought a new stake in Edwards Lifesciences during the first quarter worth about $34,000. Pingora Partners LLC bought a new stake in Edwards Lifesciences during the fourth quarter worth about $38,000. Finally, Operose Advisors LLC grew its stake in Edwards Lifesciences by 247.0% during the third quarter. Operose Advisors LLC now owns 635 shares of the medical research company’s stock worth $44,000 after buying an additional 452 shares during the last quarter. 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.