Edwards Lifesciences (NYSE:EW) Given New $71.00 Price Target at Truist Financial

Edwards Lifesciences (NYSE:EW) had its price target trimmed by Truist Financial from $82.00 to $71.00 in a report published on Friday, Benzinga reports. The brokerage currently has a hold rating on the medical research company’s stock.

Several other equities analysts also recently weighed in on EW. Royal Bank of Canada decreased their target price 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. TD Cowen cut shares of Edwards Lifesciences from a buy rating to a hold rating and lowered their target price for the stock from $100.00 to $70.00 in a research note on Thursday, July 25th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Edwards Lifesciences from $103.00 to $85.00 and set a buy rating for the company in a research report on Thursday, July 25th. Robert W. Baird lowered shares of Edwards Lifesciences from an outperform rating to a neutral rating and lowered their price target for the stock from $102.00 to $70.00 in a research report on Thursday, July 25th. Finally, Wolfe Research upgraded shares of Edwards Lifesciences from an underperform rating to a peer perform rating in a report on Monday, July 29th. Fifteen analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Edwards Lifesciences currently has a consensus rating of Hold and a consensus price target of $80.29.

Edwards Lifesciences Stock Up 0.6 %

Edwards Lifesciences stock opened at $68.52 on Friday. 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 stock has a market capitalization of $41.28 billion, a PE ratio of 29.53, a price-to-earnings-growth ratio of 2.85 and a beta of 1.13. The business has a 50 day simple moving average of $72.39 and a 200-day simple moving average of $83.49. Edwards Lifesciences has a 12 month low of $58.93 and a 12 month high of $96.12.

Edwards Lifesciences (NYSE:EW) last issued its quarterly 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. 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 analyst estimates of $1.65 billion. During the same quarter in the previous year, the firm earned $0.66 EPS. The firm’s revenue was up 6.7% compared to the same quarter last year. On average, analysts anticipate that Edwards Lifesciences will post 2.7 EPS for the current fiscal year.

Insider Buying and Selling at Edwards Lifesciences

In related news, VP Donald E. Bobo, Jr. sold 5,000 shares of Edwards Lifesciences stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $93.29, for a total value of $466,450.00. Following the completion of the transaction, the vice president now owns 46,936 shares in the company, valued at $4,378,659.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, VP Donald E. Bobo, Jr. sold 5,000 shares of the stock in a transaction 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 sale, the vice president now directly owns 46,936 shares in the company, valued at $4,378,659.44. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Daveen Chopra sold 1,250 shares of the business’s stock in a transaction on 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 directly owns 29,333 shares of the company’s stock, valued at $2,051,843.35. The disclosure for this sale can be found here. Insiders sold a total of 16,250 shares of company stock valued at $1,218,138 in the last three months. 1.29% of the stock is owned by corporate insiders.

Institutional Trading of Edwards Lifesciences

Hedge funds have recently added to or reduced their stakes in the company. 9258 Wealth Management LLC raised its stake in Edwards Lifesciences by 24.8% in the fourth quarter. 9258 Wealth Management LLC now owns 10,529 shares of the medical research company’s stock valued at $803,000 after buying an additional 2,093 shares in the last quarter. Gryphon Financial Partners LLC increased its holdings in shares of Edwards Lifesciences by 35.7% in the 4th quarter. Gryphon Financial Partners LLC now owns 6,454 shares of the medical research company’s stock valued at $492,000 after acquiring an additional 1,698 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Edwards Lifesciences by 5.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,172,836 shares of the medical research company’s stock valued at $89,433,000 after acquiring an additional 58,442 shares during the last quarter. Janney Montgomery Scott LLC raised its position in shares of Edwards Lifesciences by 2.9% during the 4th quarter. Janney Montgomery Scott LLC now owns 76,614 shares of the medical research company’s stock worth $5,842,000 after acquiring an additional 2,126 shares in the last quarter. Finally, Great Lakes Advisors LLC lifted its stake in Edwards Lifesciences by 4.5% during the fourth quarter. Great Lakes Advisors LLC now owns 14,150 shares of the medical research company’s stock worth $1,079,000 after purchasing an additional 611 shares during the last quarter. Institutional investors and hedge funds own 79.46% of the company’s stock.

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.