Edwards Lifesciences (NYSE:EW) Stock Price Expected to Rise, Morgan Stanley Analyst Says

Edwards Lifesciences (NYSE:EW) had its price objective upped by Morgan Stanley from $70.00 to $75.00 in a report issued on Wednesday,Benzinga reports. The firm currently has an “equal weight” rating on the medical research company’s stock. Morgan Stanley’s price target would indicate a potential downside of 1.26% from the stock’s previous close.

A number of other equities research analysts also recently weighed in on EW. Truist Financial reiterated a “hold” rating and issued a $78.00 price target (up from $70.00) on shares of Edwards Lifesciences in a report on Thursday, December 5th. Barclays boosted their price objective on Edwards Lifesciences from $85.00 to $88.00 and gave the company an “overweight” rating in a research report on Monday, December 2nd. Bank of America upgraded Edwards Lifesciences from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $82.00 to $90.00 in a research report on Monday, December 16th. Canaccord Genuity Group boosted their price objective on Edwards Lifesciences from $63.00 to $68.00 and gave the company a “hold” rating in a research report on Thursday, December 5th. Finally, Daiwa America lowered Edwards Lifesciences from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $79.95.

Edwards Lifesciences Price Performance

Shares of NYSE EW opened at $75.96 on Wednesday. Edwards Lifesciences has a twelve month low of $58.93 and a twelve month high of $96.12. The company has a current ratio of 3.46, a quick ratio of 2.89 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $44.80 billion, a price-to-earnings ratio of 10.96, a price-to-earnings-growth ratio of 3.64 and a beta of 1.10. The business has a 50 day simple moving average of $72.51 and a 200-day simple moving average of $69.36.

Edwards Lifesciences (NYSE:EW) last issued its quarterly earnings results on Tuesday, February 11th. The medical research company reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.04. Edwards Lifesciences had a return on equity of 20.76% and a net margin of 70.82%. As a group, equities research analysts expect that Edwards Lifesciences will post 2.56 earnings per share for the current year.

Insider Transactions at Edwards Lifesciences

In other news, CFO Scott B. Ullem sold 11,250 shares of the business’s stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $75.76, for a total value of $852,300.00. Following the sale, the chief financial officer now owns 30,561 shares of the company’s stock, valued at approximately $2,315,301.36. The trade was a 26.91 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Donald E. Bobo, Jr. sold 6,500 shares of the business’s stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $75.75, for a total value of $492,375.00. Following the sale, the vice president now directly owns 46,936 shares in the company, valued at $3,555,402. This trade represents a 12.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 20,750 shares of company stock valued at $1,564,255. Corporate insiders own 1.29% of the company’s stock.

Institutional Investors Weigh In On Edwards Lifesciences

Institutional investors and hedge funds have recently modified their holdings of the stock. Crowley Wealth Management Inc. acquired a new stake in shares of Edwards Lifesciences during the fourth quarter worth $26,000. Millstone Evans Group LLC acquired a new stake in shares of Edwards Lifesciences during the fourth quarter worth $29,000. FSA Wealth Management LLC acquired a new position in Edwards Lifesciences during the third quarter valued at $30,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Edwards Lifesciences during the fourth quarter valued at $30,000. Finally, Prospera Private Wealth LLC acquired a new position in Edwards Lifesciences during the third quarter valued at $32,000. 79.46% of the stock is owned by institutional investors and hedge funds.

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.