Edwards Lifesciences (NYSE:EW) Cut to Hold at Truist Financial

Edwards Lifesciences (NYSE:EW) was downgraded by investment analysts at Truist Financial from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday, Marketbeat reports. They currently have a $82.00 price objective on the medical research company’s stock, down from their previous price objective of $110.00. Truist Financial’s price objective would indicate a potential upside of 31.47% from the stock’s current price.

Other equities research analysts have also recently issued reports about the stock. Piper Sandler upped their price target on shares of Edwards Lifesciences from $85.00 to $88.00 and gave the company a “neutral” rating in a report on Friday, April 26th. Wells Fargo & Company lifted their price target on Edwards Lifesciences from $94.00 to $99.00 and gave the stock an “overweight” rating in a research report on Friday, April 26th. Evercore ISI increased their price objective on Edwards Lifesciences from $89.00 to $91.00 and gave the company an “in-line” rating in a research report on Tuesday, July 2nd. Citigroup boosted their target price on shares of Edwards Lifesciences from $105.00 to $106.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Finally, Mizuho raised their price target on shares of Edwards Lifesciences from $95.00 to $105.00 and gave the stock a “buy” rating in a research report on Thursday, April 11th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, Edwards Lifesciences currently has a consensus rating of “Hold” and an average target price of $82.10.

Edwards Lifesciences Price Performance

Shares of NYSE:EW opened at $62.37 on Thursday. The stock has a market capitalization of $37.58 billion, a P/E ratio of 26.88, a P/E/G ratio of 3.18 and a beta of 1.11. The business has a 50-day moving average of $87.98 and a two-hundred day moving average of $86.84. Edwards Lifesciences has a fifty-two week low of $58.93 and a fifty-two week high of $96.12. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.75 and a quick ratio of 2.67.

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

Insider Activity at Edwards Lifesciences

In other Edwards Lifesciences news, CFO Scott B. Ullem sold 7,250 shares of the business’s stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $85.80, for a total value of $622,050.00. Following the completion of the transaction, the chief financial officer now directly owns 19,074 shares of the company’s stock, valued at $1,636,549.20. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Edwards Lifesciences news, CFO Scott B. Ullem sold 7,250 shares of the stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $85.80, for a total value of $622,050.00. Following the transaction, the chief financial officer now directly owns 19,074 shares in the company, valued at approximately $1,636,549.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Jean-Luc M. Lemercier sold 14,400 shares of the business’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $84.21, for a total value of $1,212,624.00. Following the sale, the vice president now owns 173,849 shares of the company’s stock, valued at approximately $14,639,824.29. The disclosure for this sale can be found here. Insiders sold 81,099 shares of company stock valued at $7,003,553 in the last three months. Corporate insiders own 1.29% of the company’s stock.

Institutional Trading of Edwards Lifesciences

Institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. boosted its stake in Edwards Lifesciences by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 52,964,394 shares of the medical research company’s stock worth $5,061,277,000 after acquiring an additional 600,994 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of Edwards Lifesciences by 4.3% during the second 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 purchasing an additional 809,605 shares in the last quarter. Brown Advisory Inc. grew its holdings in shares of Edwards Lifesciences by 20.1% in the 4th quarter. Brown Advisory Inc. now owns 18,181,420 shares of the medical research company’s stock valued at $1,386,333,000 after buying an additional 3,048,274 shares during the period. Wellington Management Group LLP increased its position in shares of Edwards Lifesciences by 2.4% in the 4th quarter. Wellington Management Group LLP now owns 16,827,510 shares of the medical research company’s stock valued at $1,283,098,000 after buying an additional 393,109 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Edwards Lifesciences in the 4th quarter valued at $648,540,000. Institutional investors 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.