Stifel Nicolaus Cuts Edwards Lifesciences (NYSE:EW) Price Target to $70.00

Edwards Lifesciences (NYSE:EW) had its price target lowered by Stifel Nicolaus from $85.00 to $70.00 in a report released on Thursday, Benzinga reports. The brokerage currently has a hold rating on the medical research company’s stock.

Other research analysts also recently issued research reports about the stock. Bank of America downgraded 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 note on Thursday. Canaccord Genuity Group lowered their price target on Edwards Lifesciences from $85.00 to $77.00 and set a hold rating for the company in a report on Thursday. Truist Financial downgraded Edwards Lifesciences from a buy rating to a hold rating and reduced their price objective for the stock from $110.00 to $82.00 in a report on Thursday. Citigroup upped their target price on Edwards Lifesciences from $105.00 to $106.00 and gave the stock a buy rating in a report on Wednesday, July 10th. Finally, Royal Bank of Canada raised their price target on Edwards Lifesciences from $95.00 to $101.00 and gave the company an outperform rating in a research note on Monday, April 15th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of Hold and a consensus price target of $82.10.

Edwards Lifesciences Stock Up 4.5 %

Shares of NYSE:EW opened at $62.37 on Thursday. The firm has a market capitalization of $37.58 billion, a PE ratio of 26.88, a price-to-earnings-growth ratio of 2.31 and a beta of 1.11. The business has a 50 day simple moving average of $87.98 and a two-hundred day simple moving average of $86.99. Edwards Lifesciences has a 1 year low of $58.93 and a 1 year high of $96.12. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.71 and a quick ratio of 2.67.

Edwards Lifesciences (NYSE:EW) last posted 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. Edwards Lifesciences had a return on equity of 22.35% and a net margin of 24.55%. The company had revenue of $1.63 billion during the quarter, compared to analysts’ expectations of $1.65 billion. During the same quarter in the previous year, the business earned $0.66 EPS. Edwards Lifesciences’s revenue was up 6.7% compared to the same quarter last year. On average, equities analysts predict that Edwards Lifesciences will post 2.71 EPS for the current year.

Insiders Place Their Bets

In related news, VP Donald E. Bobo, Jr. sold 5,000 shares of the company’s stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $93.29, for a total transaction of $466,450.00. Following the transaction, the vice president now directly owns 46,936 shares of the company’s stock, valued at approximately $4,378,659.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, VP Donald E. Bobo, Jr. sold 5,000 shares of Edwards Lifesciences stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $93.29, for a total value of $466,450.00. Following the completion of the sale, the vice president now directly owns 46,936 shares in the company, valued at approximately $4,378,659.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Scott B. Ullem sold 7,250 shares of the business’s stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $85.80, for a total transaction of $622,050.00. Following the sale, the chief financial officer now directly owns 19,074 shares in the company, valued at approximately $1,636,549.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 81,099 shares of company stock valued at $7,003,553. 1.29% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Edwards Lifesciences

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Crewe Advisors LLC purchased a new stake in Edwards Lifesciences during the 1st quarter valued at about $28,000. First Community Trust NA acquired a new stake in shares of Edwards Lifesciences during the second quarter worth about $29,000. Riverview Trust Co purchased a new stake in Edwards Lifesciences in the first quarter valued at approximately $34,000. DSM Capital Partners LLC acquired a new position in Edwards Lifesciences in the 4th quarter worth approximately $28,000. Finally, Webster Bank N. A. purchased a new position in Edwards Lifesciences during the 2nd quarter worth approximately $39,000. Hedge funds and other 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.