Evercore ISI Raises Edwards Lifesciences (NYSE:EW) Price Target to $91.00

Edwards Lifesciences (NYSE:EW) had its price objective raised by Evercore ISI from $89.00 to $91.00 in a research report released on Tuesday morning, Benzinga reports. The firm currently has an in-line rating on the medical research company’s stock.

Several other equities research analysts also recently commented on the company. The Goldman Sachs Group initiated coverage on Edwards Lifesciences in a report on Thursday, May 30th. They set a buy rating and a $107.00 target price for the company. Piper Sandler upped their price target on Edwards Lifesciences from $85.00 to $88.00 and gave the company a neutral rating in a research report on Friday, April 26th. Morgan Stanley upped their price target on Edwards Lifesciences from $95.00 to $103.00 and gave the company an overweight rating in a research report on Thursday, March 21st. Mizuho upped their price target on Edwards Lifesciences from $95.00 to $105.00 and gave the company a buy rating in a research report on Thursday, April 11th. Finally, Wells Fargo & Company upped their price target on Edwards Lifesciences from $94.00 to $99.00 and gave the company an overweight rating in a research report on Friday, April 26th. One research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average price target of $95.18.

Edwards Lifesciences Trading Up 1.4 %

Shares of NYSE EW opened at $92.32 on Tuesday. Edwards Lifesciences has a 12 month low of $60.57 and a 12 month high of $96.12. The company has a market cap of $55.63 billion, a price-to-earnings ratio of 39.79, a P/E/G ratio of 3.33 and a beta of 1.11. The company has a quick ratio of 2.67, a current ratio of 3.75 and a debt-to-equity ratio of 0.08. The business has a fifty day simple moving average of $88.10 and a 200-day simple moving average of $85.64.

Edwards Lifesciences (NYSE:EW) last announced its earnings results on Thursday, April 25th. The medical research company reported $0.66 EPS for the quarter, beating the consensus estimate of $0.64 by $0.02. Edwards Lifesciences had a return on equity of 22.86% and a net margin of 23.01%. The business had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.58 billion. Sell-side analysts predict that Edwards Lifesciences will post 2.77 EPS for the current year.

Insiders Place Their Bets

In other news, VP Jean-Luc M. Lemercier sold 14,400 shares of the stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $84.21, for a total transaction of $1,212,624.00. Following the transaction, the vice president now owns 173,849 shares of the company’s stock, valued at approximately $14,639,824.29. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, VP Jean-Luc M. Lemercier sold 14,400 shares of the stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $84.21, for a total transaction of $1,212,624.00. Following the transaction, the vice president now owns 173,849 shares of the company’s stock, valued at approximately $14,639,824.29. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Bernard J. Zovighian acquired 580 shares of the stock in a transaction dated Monday, May 6th. The shares were bought at an average cost of $85.74 per share, for a total transaction of $49,729.20. Following the acquisition, the chief executive officer now owns 3,268 shares in the company, valued at approximately $280,198.32. The disclosure for this purchase can be found here. Insiders have sold a total of 90,499 shares of company stock valued at $7,866,511 in the last three months. Insiders own 1.27% of the company’s stock.

Institutional Trading of Edwards Lifesciences

Several hedge funds have recently added to or reduced their stakes in the business. DNB Asset Management AS boosted its stake in Edwards Lifesciences by 19.9% during the 2nd quarter. DNB Asset Management AS now owns 235,311 shares of the medical research company’s stock valued at $21,736,000 after purchasing an additional 39,015 shares during the period. Beese Fulmer Investment Management Inc. boosted its stake in Edwards Lifesciences by 5.3% during the 2nd quarter. Beese Fulmer Investment Management Inc. now owns 147,924 shares of the medical research company’s stock valued at $13,664,000 after purchasing an additional 7,393 shares during the period. Massmutual Trust Co. FSB ADV boosted its stake in Edwards Lifesciences by 1.2% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 21,353 shares of the medical research company’s stock valued at $1,972,000 after purchasing an additional 261 shares during the period. GAMMA Investing LLC boosted its stake in Edwards Lifesciences by 30.5% during the 2nd quarter. GAMMA Investing LLC now owns 3,375 shares of the medical research company’s stock valued at $312,000 after purchasing an additional 788 shares during the period. Finally, Cullen Investment Group LTD. boosted its stake in Edwards Lifesciences by 1.0% during the 2nd quarter. Cullen Investment Group LTD. now owns 19,456 shares of the medical research company’s stock valued at $1,797,000 after purchasing an additional 197 shares during the period. Institutional investors own 79.46% of the company’s stock.

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.