Edwards Lifesciences (NYSE:EW) Price Target Lowered to $70.00 at Evercore ISI

Edwards Lifesciences (NYSE:EW) had its price target reduced by Evercore ISI from $76.00 to $70.00 in a research note published on Tuesday, Benzinga reports. They currently have an in-line rating on the medical research company’s stock.

Several other research analysts have also commented on the company. Bank of America lowered Edwards Lifesciences from a buy rating to a neutral rating and decreased their target price for the stock from $105.00 to $75.00 in a research report on Thursday, July 25th. Jefferies Financial Group lowered Edwards Lifesciences from a buy rating to a hold rating and reduced their price objective for the company from $85.00 to $70.00 in a research report on Wednesday, September 18th. Daiwa America upgraded Edwards Lifesciences to a strong-buy rating in a research report on Wednesday, July 31st. Robert W. Baird lowered Edwards Lifesciences from an outperform rating to a neutral rating and reduced their price objective for the company from $102.00 to $70.00 in a research report on Thursday, July 25th. Finally, UBS Group reduced their price objective on Edwards Lifesciences from $90.00 to $75.00 and set a neutral rating for the company in a research report on Tuesday, September 10th. Sixteen investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Edwards Lifesciences currently has an average rating of Hold and an average target price of $78.23.

Edwards Lifesciences Price Performance

Shares of EW opened at $65.49 on Tuesday. The firm has a market cap of $39.46 billion, a price-to-earnings ratio of 28.23, a PEG ratio of 2.80 and a beta of 1.13. The stock has a 50 day moving average of $66.64 and a 200-day moving average of $81.09. The company has a current ratio of 3.71, a quick ratio of 2.87 and a debt-to-equity ratio of 0.08. Edwards Lifesciences has a 52 week low of $58.93 and a 52 week high of $96.12.

Edwards Lifesciences (NYSE:EW) last issued its earnings results on Wednesday, July 24th. The medical research company reported $0.70 EPS for the quarter, topping the consensus estimate 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 business’s revenue was up 6.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.66 EPS. As a group, analysts forecast that Edwards Lifesciences will post 2.71 EPS for the current year.

Insider Activity

In other news, VP Donald E. Bobo, Jr. sold 5,000 shares of Edwards Lifesciences stock in a transaction on Wednesday, July 10th. The stock was sold at an average price of $93.29, for a total transaction of $466,450.00. Following the transaction, the vice president now owns 46,936 shares in the company, valued at approximately $4,378,659.44. The trade was a 0.00 % decrease in their ownership of the stock. 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 business’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $69.95, for a total value of $87,437.50. Following the transaction, the vice president now owns 29,333 shares in the company, valued at $2,051,843.35. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Donald E. Bobo, Jr. sold 5,000 shares of the company’s stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $93.29, for a total value of $466,450.00. Following the sale, the vice president now owns 46,936 shares of the company’s stock, valued at approximately $4,378,659.44. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 16,250 shares of company stock worth $1,218,138. 1.29% of the stock is owned by corporate insiders.

Institutional Trading of Edwards Lifesciences

Large investors have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC boosted its stake in shares of Edwards Lifesciences by 4.4% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 330,711 shares of the medical research company’s stock worth $31,603,000 after acquiring an additional 14,087 shares in the last quarter. Empowered Funds LLC lifted its position in shares of Edwards Lifesciences by 151.2% during the 1st quarter. Empowered Funds LLC now owns 20,123 shares of the medical research company’s stock worth $1,923,000 after purchasing an additional 12,112 shares during the last quarter. Cetera Advisors LLC lifted its position in shares of Edwards Lifesciences by 175.1% during the 1st quarter. Cetera Advisors LLC now owns 38,090 shares of the medical research company’s stock worth $3,640,000 after purchasing an additional 24,242 shares during the last quarter. Sei Investments Co. lifted its position in shares of Edwards Lifesciences by 10.8% during the 4th quarter. Sei Investments Co. now owns 558,031 shares of the medical research company’s stock worth $42,550,000 after purchasing an additional 54,595 shares during the last quarter. Finally, Cim LLC acquired a new position in shares of Edwards Lifesciences during the 4th quarter worth about $13,724,000. 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.