Edwards Lifesciences (NYSE:EW) Stock Price Expected to Rise, Canaccord Genuity Group Analyst Says

Edwards Lifesciences (NYSE:EW) had its target price raised by Canaccord Genuity Group from $68.00 to $71.00 in a research report released on Thursday morning,Benzinga reports. The firm currently has a hold rating on the medical research company’s stock.

EW has been the subject of several other research reports. Truist Financial restated a “hold” rating and issued a $78.00 price target (up previously from $70.00) on shares of Edwards Lifesciences in a research note on Thursday, December 5th. Wolfe Research downgraded Edwards Lifesciences from a “peer perform” rating to an “underperform” rating and set a $60.00 price target on the stock. in a report on Thursday, January 16th. JPMorgan Chase & Co. lifted their price objective on Edwards Lifesciences from $72.00 to $78.00 and gave the company a “neutral” rating in a research note on Friday, October 25th. Robert W. Baird cut their target price on shares of Edwards Lifesciences from $73.00 to $68.00 and set a “neutral” rating on the stock in a research note on Friday, October 25th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $85.00 price target on shares of Edwards Lifesciences in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $79.95.

Edwards Lifesciences Price Performance

EW stock opened at $76.23 on Thursday. The business’s fifty day moving average price is $72.67 and its 200 day moving average price is $69.50. Edwards Lifesciences has a 12-month low of $58.93 and a 12-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 $44.96 billion, a PE ratio of 11.00, a P/E/G ratio of 3.64 and a beta of 1.10.

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

Insider Activity at Edwards Lifesciences

In other news, VP Daniel J. Lippis sold 2,500 shares of Edwards Lifesciences stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $74.08, for a total value of $185,200.00. Following the sale, the vice president now owns 23,189 shares of the company’s stock, valued at $1,717,841.12. The trade was a 9.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Scott B. Ullem sold 11,250 shares of the stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $75.76, for a total transaction of $852,300.00. Following the transaction, the chief financial officer now directly owns 30,561 shares of the company’s stock, valued at $2,315,301.36. This represents a 26.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 26,489 shares of company stock worth $2,002,829 in the last quarter. Company insiders own 1.29% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Crowley Wealth Management Inc. acquired a new stake in shares of Edwards Lifesciences during the 4th quarter valued at approximately $26,000. Millstone Evans Group LLC purchased a new position in Edwards Lifesciences in the 4th quarter valued at approximately $29,000. FSA Wealth Management LLC acquired a new position in Edwards Lifesciences during the third quarter worth $30,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Edwards Lifesciences during the fourth quarter worth $30,000. Finally, Prospera Private Wealth LLC purchased a new position in shares of Edwards Lifesciences in the third quarter valued at $32,000. 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.