Edwards Lifesciences (NYSE:EW) Lowered to Hold at Truist Financial

Truist Financial downgraded shares of Edwards Lifesciences (NYSE:EW) from a buy rating to a hold rating in a research report released on Thursday, MarketBeat reports. They currently have $82.00 target price on the medical research company’s stock, down from their previous target price of $110.00.

Several other analysts have also recently issued reports on the company. Citigroup upped their price objective on Edwards Lifesciences from $105.00 to $106.00 and gave the company a buy rating in a research note on Wednesday, July 10th. Deutsche Bank Aktiengesellschaft upgraded Edwards Lifesciences from a hold rating to a buy rating and raised their price objective for the stock from $86.00 to $103.00 in a research note on Tuesday, May 14th. Evercore ISI boosted their target price on shares of Edwards Lifesciences from $89.00 to $91.00 and gave the company an in-line rating in a research note on Tuesday, July 2nd. Mizuho raised their price target on shares of Edwards Lifesciences from $95.00 to $105.00 and gave the stock a buy rating in a research report on Thursday, April 11th. Finally, Royal Bank of Canada boosted their price objective on shares of Edwards Lifesciences from $95.00 to $101.00 and gave the company an outperform rating in a research report on Monday, April 15th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, Edwards Lifesciences currently has an average rating of Hold and a consensus price target of $83.45.

Edwards Lifesciences Stock Down 31.3 %

Shares of NYSE EW opened at $59.70 on Thursday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.67 and a current ratio of 3.75. Edwards Lifesciences has a 1 year low of $58.93 and a 1 year high of $96.12. The stock’s 50-day simple moving average is $88.51 and its 200-day simple moving average is $86.93. The firm has a market cap of $35.98 billion, a price-to-earnings ratio of 25.73, a PEG ratio of 3.18 and a beta of 1.11.

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 during the quarter, compared to the consensus estimate of $1.65 billion. Edwards Lifesciences had a net margin of 24.55% and a return on equity of 22.86%. The business’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.66 earnings per share. As a group, equities analysts anticipate that Edwards Lifesciences will post 2.77 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Scott B. Ullem sold 7,250 shares of the company’s stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $85.80, for a total value of $622,050.00. Following the completion of the sale, the chief financial officer now owns 19,074 shares of the company’s stock, valued at $1,636,549.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Scott B. Ullem sold 7,250 shares of the business’s stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $85.80, for a total transaction of $622,050.00. Following the sale, the chief financial officer now owns 19,074 shares of the company’s stock, valued at $1,636,549.20. The sale was disclosed in a filing 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 that occurred on Wednesday, July 10th. The stock was sold at an average price of $93.29, for a total value of $466,450.00. Following the completion of the sale, the vice president now owns 46,936 shares of the company’s stock, valued at $4,378,659.44. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 81,099 shares of company stock valued at $7,003,553. Company insiders own 1.29% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Park Avenue Securities LLC boosted its position in shares of Edwards Lifesciences by 0.5% during the 2nd quarter. Park Avenue Securities LLC now owns 23,484 shares of the medical research company’s stock valued at $2,169,000 after purchasing an additional 108 shares in the last quarter. Martin Capital Advisors LLP boosted its holdings in Edwards Lifesciences by 0.5% during the fourth quarter. Martin Capital Advisors LLP now owns 25,490 shares of the medical research company’s stock worth $1,944,000 after buying an additional 128 shares in the last quarter. City State Bank boosted its holdings in Edwards Lifesciences by 16.5% during the second quarter. City State Bank now owns 917 shares of the medical research company’s stock worth $85,000 after buying an additional 130 shares in the last quarter. Chapin Davis Inc. grew its position in Edwards Lifesciences by 1.7% in the first quarter. Chapin Davis Inc. now owns 8,548 shares of the medical research company’s stock worth $817,000 after buying an additional 140 shares during the last quarter. Finally, Johnson Financial Group Inc. increased its holdings in shares of Edwards Lifesciences by 23.0% in the fourth quarter. Johnson Financial Group Inc. now owns 771 shares of the medical research company’s stock valued at $59,000 after buying an additional 144 shares in the last quarter. 79.46% of the stock is owned by institutional investors and hedge funds.

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.