Canaccord Genuity Group Cuts Edwards Lifesciences (NYSE:EW) Price Target to $66.00

Edwards Lifesciences (NYSE:EW) had its price target decreased by Canaccord Genuity Group from $77.00 to $66.00 in a research report report published on Monday, Benzinga reports. Canaccord Genuity Group currently has a hold rating on the medical research company’s stock.

Several other brokerages also recently weighed in on EW. Daiwa Capital Markets raised Edwards Lifesciences from a neutral rating to an outperform rating in a research report on Wednesday, July 31st. Royal Bank of Canada cut their price target on Edwards Lifesciences from $101.00 to $85.00 and set an outperform rating on the stock in a research report on Thursday, July 25th. Bank of America downgraded Edwards Lifesciences from a buy rating to a neutral rating and cut their price target for the stock from $105.00 to $75.00 in a research report on Thursday, July 25th. Wells Fargo & Company dropped their target price on Edwards Lifesciences from $90.00 to $80.00 and set an overweight rating on the stock in a research report on Monday, September 9th. Finally, The Goldman Sachs Group dropped their target price on Edwards Lifesciences from $107.00 to $91.00 and set a buy rating on the stock in a research report on Friday, July 26th. Sixteen investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of Hold and an average target price of $77.27.

Edwards Lifesciences Stock Performance

Shares of EW stock opened at $68.26 on Monday. The firm has a market capitalization of $41.13 billion, a price-to-earnings ratio of 29.42, a price-to-earnings-growth ratio of 2.80 and a beta of 1.13. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.71 and a quick ratio of 2.87. The business has a fifty day moving average of $66.86 and a 200 day moving average of $80.43. Edwards Lifesciences has a 1 year low of $58.93 and a 1 year high of $96.12.

Edwards Lifesciences (NYSE:EW) last issued its earnings results on Wednesday, July 24th. The medical research company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.01. The company had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.65 billion. Edwards Lifesciences had a return on equity of 22.35% and a net margin of 24.55%. The firm’s quarterly revenue was up 6.7% on a year-over-year basis. During the same quarter last year, the business posted $0.66 EPS. As a group, research analysts expect that Edwards Lifesciences will post 2.71 earnings per share for the current year.

Insider Activity at Edwards Lifesciences

In related news, VP Donald E. Bobo, Jr. sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $66.08, for a total value of $330,400.00. Following the transaction, the vice president now directly owns 46,936 shares of the company’s stock, valued at approximately $3,101,530.88. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Edwards Lifesciences news, VP Daveen Chopra sold 1,250 shares of the firm’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $69.95, for a total value of $87,437.50. Following the transaction, the vice president now directly owns 29,333 shares of the company’s stock, valued at $2,051,843.35. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Donald E. Bobo, Jr. sold 5,000 shares of Edwards Lifesciences stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $66.08, for a total transaction of $330,400.00. Following the sale, the vice president now directly owns 46,936 shares in the company, valued at approximately $3,101,530.88. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 11,250 shares of company stock valued at $751,688. 1.29% of the stock is owned by corporate insiders.

Institutional Trading of Edwards Lifesciences

Institutional investors have recently made changes to their positions in the company. Crewe Advisors LLC purchased a new stake in shares of Edwards Lifesciences during the 1st quarter valued at approximately $28,000. First Community Trust NA acquired a new stake in Edwards Lifesciences in the 2nd quarter valued at approximately $29,000. Riverview Trust Co acquired a new stake in Edwards Lifesciences in the 1st quarter valued at approximately $34,000. Webster Bank N. A. acquired a new stake in Edwards Lifesciences in the 2nd quarter valued at approximately $39,000. Finally, Rise Advisors LLC increased its holdings in Edwards Lifesciences by 125.0% in the 1st quarter. Rise Advisors LLC now owns 477 shares of the medical research company’s stock valued at $46,000 after purchasing an additional 265 shares during the last quarter. Hedge funds and other institutional investors 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.