Barclays Cuts Edwards Lifesciences (NYSE:EW) Price Target to $90.00

Edwards Lifesciences (NYSE:EW) had its target price reduced by equities research analysts at Barclays from $101.00 to $90.00 in a research note issued on Friday, Benzinga reports. The firm currently has an “overweight” rating on the medical research company’s stock. Barclays‘s price objective points to a potential upside of 42.93% from the company’s current price.

Other research analysts also recently issued reports about the stock. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Edwards Lifesciences from $103.00 to $85.00 and set a “buy” rating on the stock in a research note on Thursday. StockNews.com lowered Edwards Lifesciences from a “buy” rating to a “hold” rating in a research report on Thursday. Royal Bank of Canada cut their price objective on Edwards Lifesciences from $101.00 to $85.00 and set an “outperform” rating on the stock in a research report on Thursday. TD Cowen downgraded shares of Edwards Lifesciences from a “buy” rating to a “hold” rating and reduced their price objective for the company from $100.00 to $70.00 in a research report on Thursday. Finally, Stifel Nicolaus decreased their price target 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. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $82.10.

Edwards Lifesciences Price Performance

Edwards Lifesciences stock traded up $3.27 during midday trading on Friday, hitting $62.97. 6,906,008 shares of the company’s stock were exchanged, compared to its average volume of 3,721,069. Edwards Lifesciences has a 52-week low of $58.93 and a 52-week high of $96.12. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.67 and a current ratio of 3.75. The company has a market cap of $37.95 billion, a P/E ratio of 27.14, a PEG ratio of 3.18 and a beta of 1.11. The stock has a 50-day moving average price of $88.51 and a two-hundred day moving average price of $86.93.

Edwards Lifesciences (NYSE:EW) last announced its quarterly earnings data on Wednesday, July 24th. The medical research company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.01. The company had revenue of $1.63 billion during the quarter, compared to analysts’ expectations of $1.65 billion. Edwards Lifesciences had a net margin of 24.55% and a return on equity of 22.86%. The firm’s revenue was up 6.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.66 EPS. On average, equities research analysts forecast that Edwards Lifesciences will post 2.77 earnings per share for the current year.

Insider Transactions at Edwards Lifesciences

In other Edwards Lifesciences news, CEO Bernard J. Zovighian purchased 580 shares of the stock in a transaction that occurred on Monday, May 6th. The stock was purchased at an average price of $85.74 per share, with a total value of $49,729.20. Following the acquisition, the chief executive officer now owns 3,268 shares in the company, valued at $280,198.32. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Bernard J. Zovighian bought 580 shares of Edwards Lifesciences stock in a transaction dated Monday, May 6th. The shares were acquired at an average price of $85.74 per share, with a total value of $49,729.20. Following the completion of the purchase, the chief executive officer now owns 3,268 shares in the company, valued at approximately $280,198.32. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Bernard J. Zovighian sold 8,617 shares of Edwards Lifesciences stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $87.68, for a total transaction of $755,538.56. Following the transaction, the chief executive officer now directly owns 68,218 shares of the company’s stock, valued at $5,981,354.24. The disclosure for this sale can be found here. Insiders have sold 81,099 shares of company stock valued at $7,003,553 in the last ninety days. Corporate insiders own 1.29% of the company’s stock.

Institutional Investors Weigh In On Edwards Lifesciences

Several large investors have recently added to or reduced their stakes in EW. Mutual Advisors LLC acquired a new stake in Edwards Lifesciences in the fourth quarter valued at approximately $201,000. Procyon Advisors LLC raised its position in Edwards Lifesciences by 6.8% during the 4th quarter. Procyon Advisors LLC now owns 6,063 shares of the medical research company’s stock worth $462,000 after buying an additional 384 shares during the last quarter. Trueblood Wealth Management LLC purchased a new stake in shares of Edwards Lifesciences in the 4th quarter valued at $206,000. Ritholtz Wealth Management acquired a new stake in shares of Edwards Lifesciences in the fourth quarter worth $202,000. Finally, Quent Capital LLC raised its holdings in shares of Edwards Lifesciences by 29.7% during the fourth quarter. Quent Capital LLC now owns 2,003 shares of the medical research company’s stock worth $153,000 after purchasing an additional 459 shares during the last quarter. 79.46% of the stock is owned by hedge funds and other institutional investors.

Edwards Lifesciences Company Profile

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.