Edwards Lifesciences (NYSE:EW) Price Target Cut to $70.00

Edwards Lifesciences (NYSE:EW) had its price objective reduced by research analysts at Truist Financial from $71.00 to $70.00 in a research report issued on Friday, Benzinga reports. The firm currently has a “hold” rating on the medical research company’s stock. Truist Financial’s price objective points to a potential upside of 1.80% from the company’s previous close.

A number of other research firms also recently commented on EW. The Goldman Sachs Group dropped their price target 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. TD Cowen downgraded shares of Edwards Lifesciences from a “buy” rating to a “hold” rating and cut their target price for the company from $100.00 to $70.00 in a research note on Thursday, July 25th. Bank of America lowered shares of Edwards Lifesciences from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $105.00 to $75.00 in a research report on Thursday, July 25th. Jefferies Financial Group downgraded shares of Edwards Lifesciences from a “buy” rating to a “hold” rating and lowered their price objective for the company from $85.00 to $70.00 in a research report on Wednesday, September 18th. Finally, StockNews.com downgraded shares of Edwards Lifesciences from a “buy” rating to a “hold” rating in a research note on Thursday, July 25th. Fifteen investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $75.67.

Edwards Lifesciences Trading Down 2.3 %

Shares of NYSE:EW traded down $1.59 during trading on Friday, reaching $68.76. 1,007,999 shares of the stock were exchanged, compared to its average volume of 4,560,609. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.87 and a current ratio of 3.71. Edwards Lifesciences has a 12-month low of $58.93 and a 12-month high of $96.12. The firm’s 50-day moving average price is $68.04 and its 200 day moving average price is $78.71. The firm has a market cap of $41.43 billion, a price-to-earnings ratio of 29.68, a price-to-earnings-growth ratio of 2.83 and a beta of 1.13.

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

Insiders Place Their Bets

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

Institutional Trading of Edwards Lifesciences

Large investors have recently modified their holdings of the stock. Crewe Advisors LLC bought a new position in Edwards Lifesciences during the first quarter worth $28,000. First Community Trust NA purchased a new position in Edwards Lifesciences during the 2nd quarter worth $29,000. Webster Bank N. A. bought a new stake in Edwards Lifesciences in the 2nd quarter valued at about $39,000. Peoples Bank KS bought a new position in Edwards Lifesciences in the 3rd quarter worth about $40,000. Finally, Versant Capital Management Inc raised its holdings in shares of Edwards Lifesciences by 206.3% in the 2nd quarter. Versant Capital Management Inc now owns 484 shares of the medical research company’s stock valued at $45,000 after acquiring an additional 326 shares in 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.