Piper Sandler Boosts Edwards Lifesciences (NYSE:EW) Price Target to $73.00

Edwards Lifesciences (NYSE:EW) had its target price lifted by investment analysts at Piper Sandler from $70.00 to $73.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the medical research company’s stock. Piper Sandler’s price target suggests a potential downside of 2.88% from the stock’s previous close.

A number of other brokerages have also commented on EW. Truist Financial reaffirmed a “hold” rating and issued a $78.00 price target (up previously from $70.00) on shares of Edwards Lifesciences in a research note on Thursday, December 5th. Royal Bank of Canada increased their price target on shares of Edwards Lifesciences from $80.00 to $85.00 and gave the company an “outperform” rating in a report on Thursday, December 5th. Wolfe Research cut shares of Edwards Lifesciences from a “peer perform” rating to an “underperform” rating and set a $60.00 target price on the stock. in a report on Thursday, January 16th. Daiwa America cut shares of Edwards Lifesciences from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Finally, Citigroup lifted their price target on shares of Edwards Lifesciences from $81.00 to $83.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, Edwards Lifesciences has an average rating of “Hold” and a consensus target price of $79.71.

Edwards Lifesciences Price Performance

Edwards Lifesciences stock opened at $75.17 on Wednesday. The business has a fifty day moving average price of $72.47 and a 200-day moving average price of $69.32. Edwards Lifesciences has a one year low of $58.93 and a one year high of $96.12. The firm has a market capitalization of $44.33 billion, a P/E ratio of 10.86, a PEG ratio of 3.64 and a beta of 1.10. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.46 and a quick ratio of 2.89.

Edwards Lifesciences (NYSE:EW) last released its quarterly earnings results on Tuesday, February 11th. The medical research company reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.04. Edwards Lifesciences had a return on equity of 20.76% and a net margin of 70.82%. As a group, equities research analysts forecast that Edwards Lifesciences will post 2.56 EPS for the current year.

Insider Buying and Selling

In other Edwards Lifesciences news, VP Daniel J. Lippis sold 500 shares of the stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $68.76, for a total value of $34,380.00. Following the completion of the sale, the vice president now owns 23,189 shares in the company, valued at approximately $1,594,475.64. This represents a 2.11 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.29% of the company’s stock.

Institutional Investors Weigh In On Edwards Lifesciences

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Wellington Management Group LLP grew its position in Edwards Lifesciences by 86.3% during the third quarter. Wellington Management Group LLP now owns 31,532,725 shares of the medical research company’s stock worth $2,080,845,000 after buying an additional 14,610,123 shares during the period. Norges Bank purchased a new position in shares of Edwards Lifesciences during the fourth quarter valued at approximately $610,895,000. Jennison Associates LLC acquired a new stake in shares of Edwards Lifesciences during the fourth quarter worth $555,939,000. Vanguard Group Inc. boosted its stake in Edwards Lifesciences by 10.4% in the 4th quarter. Vanguard Group Inc. now owns 69,132,036 shares of the medical research company’s stock worth $5,117,845,000 after buying an additional 6,537,494 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its position in Edwards Lifesciences by 475.8% during the fourth quarter. Assenagon Asset Management S.A. now owns 4,243,976 shares of the medical research company’s stock worth $314,182,000 after purchasing an additional 3,506,886 shares during 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.