Edwards Lifesciences (NYSE:EW) Price Target Lowered to $70.00 at Piper Sandler

Edwards Lifesciences (NYSE:EW) had its price objective reduced by Piper Sandler from $73.00 to $70.00 in a research note issued to investors on Friday morning, Benzinga reports. They currently have a neutral rating on the medical research company’s stock.

Several other research firms have also issued reports on EW. TD Cowen lowered shares of Edwards Lifesciences from a “buy” rating to a “hold” rating and decreased their price target for the stock from $100.00 to $70.00 in a research report on Thursday, July 25th. Barclays decreased their price target on Edwards Lifesciences from $90.00 to $80.00 and set an “overweight” rating for the company in a research report on Monday, September 9th. Stifel Nicolaus reduced their price objective on shares of Edwards Lifesciences from $85.00 to $70.00 and set a “hold” rating for the company in a research note on Thursday, July 25th. The Goldman Sachs Group lowered their price objective on shares of Edwards Lifesciences from $107.00 to $91.00 and set a “buy” rating on the stock in a research report on Friday, July 26th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target 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. Fifteen equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $75.67.

Edwards Lifesciences Stock Performance

EW traded down $0.97 during trading hours on Friday, hitting $69.38. 8,171,703 shares of the stock were exchanged, compared to its average volume of 4,595,216. 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 50-day simple moving average of $68.09 and a 200-day simple moving average of $78.49. Edwards Lifesciences has a 12 month low of $58.93 and a 12 month high of $96.12. The stock has a market cap of $41.81 billion, a price-to-earnings ratio of 29.91, a price-to-earnings-growth ratio of 2.83 and a beta of 1.13.

Edwards Lifesciences (NYSE:EW) last released its quarterly earnings data on Thursday, October 24th. The medical research company reported $0.67 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.67. Edwards Lifesciences had a net margin of 24.55% and a return on equity of 22.35%. The business had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.57 billion. During the same quarter last year, the company earned $0.59 EPS. The company’s revenue for the quarter was up 8.9% compared to the same quarter last year. Analysts anticipate that Edwards Lifesciences will post 2.71 earnings per share for the current year.

Insiders Place Their Bets

In related news, VP Daveen Chopra sold 1,250 shares of Edwards Lifesciences 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 completion of the transaction, the vice president now directly owns 29,333 shares of the company’s stock, valued at $2,051,843.35. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, VP Donald E. Bobo, Jr. sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $69.51, for a total value of $347,550.00. Following the completion of the sale, the vice president now directly owns 46,936 shares of the company’s stock, valued at $3,262,521.36. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP Daveen Chopra sold 1,250 shares of the firm’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $69.95, for a total transaction of $87,437.50. Following the sale, the vice president now owns 29,333 shares of the company’s stock, valued at $2,051,843.35. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 16,250 shares of company stock valued at $1,099,238. 1.29% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Edwards Lifesciences

Institutional investors and hedge funds have recently modified their holdings of the business. Price T Rowe Associates Inc. MD lifted its position in shares of 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. CCLA Investment Management increased its holdings in Edwards Lifesciences by 100,739.7% in the 1st quarter. CCLA Investment Management now owns 1,406,714 shares of the medical research company’s stock valued at $134,092,000 after buying an additional 1,405,319 shares during the period. Swedbank AB acquired a new position in shares of Edwards Lifesciences in the 1st quarter valued at approximately $124,511,000. Sei Investments Co. lifted its holdings in shares of Edwards Lifesciences by 162.7% during the 1st quarter. Sei Investments Co. now owns 1,465,719 shares of the medical research company’s stock worth $140,064,000 after acquiring an additional 907,688 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in shares of Edwards Lifesciences by 4.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 19,782,909 shares of the medical research company’s stock worth $1,827,347,000 after acquiring an additional 809,605 shares in the last quarter. 79.46% of the stock is currently owned by institutional investors and hedge funds.

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.