Edwards Lifesciences (NYSE:EW) Price Target Cut to $77.00 by Analysts at Canaccord Genuity Group

Edwards Lifesciences (NYSE:EW) had its target price lowered by Canaccord Genuity Group from $85.00 to $77.00 in a report published on Thursday morning, Benzinga reports. Canaccord Genuity Group currently has a hold rating on the medical research company’s stock.

EW has been the topic of several other research reports. Piper Sandler dropped their price objective on shares of Edwards Lifesciences from $88.00 to $73.00 and set a neutral rating on the stock in a report on Thursday. Wells Fargo & Company increased their price target on Edwards Lifesciences from $94.00 to $99.00 and gave the stock an overweight rating in a report on Friday, April 26th. The Goldman Sachs Group began coverage on Edwards Lifesciences in a report on Thursday, May 30th. They set a buy rating and a $107.00 price objective for the company. Deutsche Bank Aktiengesellschaft upgraded Edwards Lifesciences from a hold rating to a buy rating and increased their target price for the stock from $86.00 to $103.00 in a report on Tuesday, May 14th. Finally, Evercore ISI boosted their price target 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. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus price target of $82.10.

Edwards Lifesciences Stock Up 4.5 %

Shares of Edwards Lifesciences stock opened at $62.37 on Thursday. The stock’s 50-day moving average is $87.98 and its 200 day moving average is $86.99. Edwards Lifesciences has a one year low of $58.93 and a one year high of $96.12. The firm has a market cap of $37.58 billion, a price-to-earnings ratio of 26.88, a PEG ratio of 2.31 and a beta of 1.11. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.71 and a quick ratio of 2.67.

Edwards Lifesciences (NYSE:EW) last announced its quarterly earnings data 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. Edwards Lifesciences had a net margin of 24.55% and a return on equity of 22.35%. The company had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.65 billion. During the same quarter last year, the firm posted $0.66 EPS. The company’s quarterly revenue was up 6.7% on a year-over-year basis. Equities research analysts anticipate that Edwards Lifesciences will post 2.71 EPS for the current year.

Insider Transactions at Edwards Lifesciences

In other Edwards Lifesciences news, VP Jean-Luc M. Lemercier sold 14,400 shares of the company’s stock in a transaction on 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 completion of the transaction, the vice president now owns 173,849 shares in the company, valued at approximately $14,639,824.29. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Edwards Lifesciences news, VP Jean-Luc M. Lemercier sold 14,400 shares of Edwards Lifesciences 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 sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Michael A. Mussallem sold 29,350 shares of the stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $84.77, for a total transaction 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 disclosure for this sale can be found here. Insiders have sold 81,099 shares of company stock worth $7,003,553 in the last 90 days. Insiders own 1.29% of the company’s stock.

Institutional Trading of Edwards Lifesciences

Several hedge funds have recently made changes to their positions in the company. Norges Bank bought a new stake in Edwards Lifesciences in the 4th quarter valued at about $648,540,000. Brown Advisory Inc. raised its position in shares of 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 valued at $1,386,333,000 after purchasing an additional 3,048,274 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in Edwards Lifesciences by 57.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,516,260 shares of the medical research company’s stock valued at $622,695,000 after acquiring an additional 2,390,137 shares during the period. CIBC Private Wealth Group LLC lifted its holdings in Edwards Lifesciences by 197.0% during the 4th 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 lifted its holdings in shares of 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 buying an additional 1,644,869 shares in the last quarter. 79.46% of the stock is currently owned by institutional investors.

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.