Evercore ISI Cuts Edwards Lifesciences (NYSE:EW) Price Target to $89.00

Edwards Lifesciences (NYSE:EW) had its price target cut by Evercore ISI from $92.00 to $89.00 in a research report sent to investors on Friday, Benzinga reports. They currently have an in-line rating on the medical research company’s stock.

Other analysts have also recently issued research reports about the company. Morgan Stanley raised their target price on Edwards Lifesciences from $95.00 to $103.00 and gave the stock an overweight rating in a research report on Thursday, March 21st. Wells Fargo & Company raised Edwards Lifesciences from an equal weight rating to an overweight rating and set a $94.00 target price on the stock in a research note on Friday, February 2nd. Mizuho increased their price target on shares of Edwards Lifesciences from $95.00 to $105.00 and gave the stock a buy rating in a research report on Thursday, April 11th. OTR Global raised shares of Edwards Lifesciences from a mixed rating to a positive rating in a research report on Tuesday, March 26th. Finally, Royal Bank of Canada lifted their target price on shares of Edwards Lifesciences from $95.00 to $101.00 and gave the company an outperform rating in a research note on Monday, April 15th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average price target of $92.71.

Edwards Lifesciences Trading Down 0.6 %

Shares of EW opened at $85.95 on Friday. The company has a current ratio of 3.75, a quick ratio of 2.67 and a debt-to-equity ratio of 0.08. Edwards Lifesciences has a 1-year low of $60.57 and a 1-year high of $96.12. The stock has a market capitalization of $51.74 billion, a P/E ratio of 37.05, a P/E/G ratio of 4.28 and a beta of 1.05. The business’s 50-day moving average price is $90.27 and its 200 day moving average price is $79.06.

Edwards Lifesciences (NYSE:EW) last released its earnings results on Thursday, April 25th. The medical research company reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.02. Edwards Lifesciences had a net margin of 23.01% and a return on equity of 22.86%. The business had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.58 billion. Analysts expect that Edwards Lifesciences will post 2.76 earnings per share for the current year.

Insiders Place Their Bets

In related news, VP Catherine M. Szyman sold 27,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $85.62, for a total value of $2,311,740.00. Following the transaction, the vice president now directly owns 34,814 shares of the company’s stock, valued at approximately $2,980,774.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, VP Catherine M. Szyman sold 27,000 shares of the company’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $85.62, for a total transaction of $2,311,740.00. Following the completion of the sale, the vice president now directly owns 34,814 shares of the company’s stock, valued at approximately $2,980,774.68. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Michael A. Mussallem sold 29,350 shares of the business’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $86.67, for a total transaction of $2,543,764.50. Following the transaction, the director now directly owns 4,486 shares of the company’s stock, valued at approximately $388,801.62. The disclosure for this sale can be found here. Insiders sold 194,004 shares of company stock valued at $17,166,254 over the last quarter. Insiders own 1.27% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in EW. Vanguard Group Inc. raised its position in shares of Edwards Lifesciences by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 52,363,400 shares of the medical research company’s stock valued at $3,992,709,000 after buying an additional 729,984 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Edwards Lifesciences by 9.5% during the first quarter. Bank of New York Mellon Corp now owns 18,973,304 shares of the medical research company’s stock valued at $1,813,089,000 after acquiring an additional 1,644,869 shares during the period. Brown Advisory Inc. raised its holdings in Edwards Lifesciences by 20.1% in the 4th quarter. Brown Advisory Inc. now owns 18,181,420 shares of the medical research company’s stock valued at $1,386,333,000 after acquiring an additional 3,048,274 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of Edwards Lifesciences by 2.4% in the 4th quarter. Wellington Management Group LLP now owns 16,827,510 shares of the medical research company’s stock worth $1,283,098,000 after acquiring an additional 393,109 shares during the period. Finally, Norges Bank acquired a new stake in shares of Edwards Lifesciences during the 4th quarter worth approximately $648,540,000. 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.