Edwards Lifesciences (NYSE:EW) Given New $85.00 Price Target at Deutsche Bank Aktiengesellschaft

Edwards Lifesciences (NYSE:EW) had its price objective trimmed by Deutsche Bank Aktiengesellschaft from $103.00 to $85.00 in a report published on Thursday morning, Benzinga reports. The firm currently has a buy rating on the medical research company’s stock.

EW has been the topic of a number of other research reports. Truist Financial cut Edwards Lifesciences from a buy rating to a hold rating and lowered their target price for the company from $110.00 to $82.00 in a report on Thursday. Stifel Nicolaus lowered their target price on Edwards Lifesciences from $85.00 to $70.00 and set a hold rating on the stock in a report on Thursday. Bank of America cut Edwards Lifesciences from a buy rating to a neutral rating and lowered their target price for the company from $105.00 to $75.00 in a report on Thursday. Barclays increased their target price on Edwards Lifesciences from $100.00 to $101.00 and gave the company an overweight rating in a report on Tuesday, May 7th. Finally, Oppenheimer lowered their target price on Edwards Lifesciences from $100.00 to $90.00 and set an outperform rating on the stock in a report on Thursday. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus price target of $83.45.

Edwards Lifesciences Stock Performance

EW opened at $60.43 on Thursday. The stock has a market cap of $36.42 billion, a P/E ratio of 25.73, a P/E/G ratio of 3.18 and a beta of 1.11. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.75 and a quick ratio of 2.67. The stock’s 50 day simple moving average is $88.51 and its 200 day simple moving average is $86.93. Edwards Lifesciences has a 1-year low of $58.93 and a 1-year high of $96.12.

Edwards Lifesciences (NYSE:EW) last released its quarterly earnings results on Wednesday, July 24th. The medical research company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.01. The business had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.65 billion. Edwards Lifesciences had a return on equity of 22.86% and a net margin of 24.55%. The company’s revenue was up 6.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.66 EPS. As a group, equities analysts anticipate that Edwards Lifesciences will post 2.77 EPS for the current fiscal year.

Insider Buying and Selling at Edwards Lifesciences

In other Edwards Lifesciences news, VP Jean-Luc M. Lemercier sold 14,400 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $84.21, for a total value of $1,212,624.00. Following the transaction, the vice president now directly owns 173,849 shares of the company’s stock, valued at $14,639,824.29. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Edwards Lifesciences news, Director Michael A. Mussallem sold 29,350 shares of the firm’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $84.77, for a total value of $2,487,999.50. Following the transaction, the director now directly owns 4,486 shares of the company’s stock, valued at $380,278.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Jean-Luc M. Lemercier sold 14,400 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $84.21, for a total value of $1,212,624.00. Following the sale, the vice president now owns 173,849 shares of the company’s stock, valued at $14,639,824.29. The disclosure for this sale can be found here. Insiders have sold 81,099 shares of company stock valued at $7,003,553 over the last three months. 1.29% of the stock is owned by company insiders.

Institutional Trading of Edwards Lifesciences

Several large investors have recently modified their holdings of EW. Norges Bank acquired a new position in Edwards Lifesciences in the fourth quarter worth about $648,540,000. Brown Advisory Inc. grew its stake in Edwards Lifesciences by 20.1% in the fourth quarter. Brown Advisory Inc. now owns 18,181,420 shares of the medical research company’s stock worth $1,386,333,000 after purchasing an additional 3,048,274 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in Edwards Lifesciences by 57.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,516,260 shares of the medical research company’s stock worth $622,695,000 after purchasing an additional 2,390,137 shares in the last quarter. CIBC Private Wealth Group LLC grew its stake in Edwards Lifesciences by 197.0% in the fourth quarter. CIBC Private Wealth Group LLC now owns 3,446,758 shares of the medical research company’s stock worth $262,815,000 after purchasing an additional 2,286,119 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in Edwards Lifesciences by 9.5% in the first quarter. Bank of New York Mellon Corp now owns 18,973,304 shares of the medical research company’s stock worth $1,813,089,000 after purchasing an additional 1,644,869 shares in the last quarter. 79.46% of the stock is currently owned by institutional investors and hedge funds.

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.