Edwards Lifesciences (NYSE:EW) had its price target reduced by equities researchers at Morgan Stanley from $83.33 to $83.00 in a research note issued on Monday, BenzingaRatingsTable reports. The firm currently has an “overweight” rating on the medical research company’s stock. Morgan Stanley’s price target points to a potential upside of 22.26% from the company’s current price.
A number of other research firms also recently commented on EW. Canaccord Genuity restated a “buy” rating on shares of Edwards Lifesciences in a report on Friday, April 24th. Barclays restated an “underweight” rating and set a $51.67 price objective (down from $55.00) on shares of Edwards Lifesciences in a report on Monday, April 27th. They noted that the move was a valuation call. Credit Suisse Group dropped their price objective on Edwards Lifesciences to $88.00 and set an “outperform” rating for the company in a report on Tuesday, June 2nd. BTIG Research reiterated a “hold” rating on shares of Edwards Lifesciences in a report on Thursday, April 23rd. Finally, Cowen lowered their price target on Edwards Lifesciences from $91.67 to $83.33 and set an “outperform” rating for the company in a report on Monday, April 20th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and sixteen have assigned a buy rating to the company’s stock. Edwards Lifesciences presently has a consensus rating of “Buy” and a consensus price target of $82.52.
Shares of EW opened at $67.89 on Monday. The stock has a fifty day moving average of $109.78 and a two-hundred day moving average of $81.98. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.47 and a current ratio of 3.36. The company has a market capitalization of $41.60 billion, a PE ratio of 38.94, a price-to-earnings-growth ratio of 2.53 and a beta of 0.84. Edwards Lifesciences has a fifty-two week low of $51.51 and a fifty-two week high of $82.55.
Edwards Lifesciences (NYSE:EW) last released its quarterly earnings data on Thursday, April 23rd. The medical research company reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.07. The business had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.03 billion. Edwards Lifesciences had a return on equity of 31.83% and a net margin of 24.71%. The business’s revenue for the quarter was up 13.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.44 EPS. As a group, equities research analysts forecast that Edwards Lifesciences will post 1.65 earnings per share for the current fiscal year.
In other news, VP Donald E. Bobo, Jr. sold 5,369 shares of the stock in a transaction dated Friday, April 3rd. The shares were sold at an average price of $182.44, for a total transaction of $979,520.36. Following the transaction, the vice president now owns 26,191 shares of the company’s stock, valued at $4,778,286.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Huimin Wang sold 3,911 shares of the stock in a transaction dated Monday, April 13th. The stock was sold at an average price of $212.99, for a total transaction of $833,003.89. Following the transaction, the vice president now directly owns 35,147 shares in the company, valued at approximately $7,485,959.53. The disclosure for this sale can be found here. Over the last three months, insiders sold 190,757 shares of company stock valued at $24,479,231. 1.48% of the stock is currently owned by corporate insiders.
Several hedge funds have recently modified their holdings of EW. Norges Bank bought a new position in shares of Edwards Lifesciences during the fourth quarter worth about $821,638,000. Wellington Management Group LLP lifted its holdings in Edwards Lifesciences by 43.5% in the first quarter. Wellington Management Group LLP now owns 6,404,218 shares of the medical research company’s stock worth $1,207,965,000 after acquiring an additional 1,940,741 shares during the last quarter. Fisher Asset Management LLC lifted its holdings in Edwards Lifesciences by 17,004.8% in the first quarter. Fisher Asset Management LLC now owns 1,354,703 shares of the medical research company’s stock worth $255,524,000 after acquiring an additional 1,346,783 shares during the last quarter. Alliancebernstein L.P. lifted its holdings in Edwards Lifesciences by 23.5% in the first quarter. Alliancebernstein L.P. now owns 4,315,787 shares of the medical research company’s stock worth $814,044,000 after acquiring an additional 822,551 shares during the last quarter. Finally, Capital International Investors lifted its holdings in Edwards Lifesciences by 15.9% in the first quarter. Capital International Investors now owns 5,165,441 shares of the medical research company’s stock worth $974,305,000 after acquiring an additional 707,457 shares during the last quarter. 80.66% of the stock is currently owned by institutional investors and hedge funds.
Edwards Lifesciences Company Profile
Edwards Lifesciences Corporation provides products and technologies for structural heart disease and critical care monitoring in the United States and internationally. It offers transcatheter heart valve therapy products comprising transcatheter aortic valve replacement, and transcatheter mitral and tricuspid therapies for the nonsurgical replacement of heart valves.
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