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

Edwards Lifesciences (NYSE:EW) had its price target increased by equities researchers at The Goldman Sachs Group from $81.00 to $90.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the medical research company’s stock. The Goldman Sachs Group’s price target would indicate a potential upside of 24.05% from the stock’s current price.

EW has been the topic of several other reports. Royal Bank of Canada increased their price objective on Edwards Lifesciences from $80.00 to $85.00 and gave the company an “outperform” rating in a research report on Thursday. Robert W. Baird reduced their price target on Edwards Lifesciences from $73.00 to $68.00 and set a “neutral” rating on the stock in a research report on Friday, October 25th. Evercore ISI reduced their price target on Edwards Lifesciences from $76.00 to $70.00 and set an “in-line” rating on the stock in a research report on Tuesday, October 1st. Piper Sandler dropped their price objective on Edwards Lifesciences from $73.00 to $70.00 and set a “neutral” rating for the company in a report on Friday, October 25th. Finally, Sanford C. Bernstein upgraded Edwards Lifesciences from a “strong sell” rating to a “hold” rating in a research note on Monday, October 28th. Seventeen analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $78.35.

Edwards Lifesciences Stock Performance

NYSE:EW traded down $1.65 during trading on Thursday, reaching $72.55. The company’s stock had a trading volume of 1,631,071 shares, compared to its average volume of 4,639,478. The firm has a market cap of $42.79 billion, a price-to-earnings ratio of 10.47, a price-to-earnings-growth ratio of 3.95 and a beta of 1.12. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.89 and a current ratio of 3.46. The firm has a 50 day moving average of $68.42 and a 200-day moving average of $74.77. Edwards Lifesciences has a 12 month low of $58.93 and a 12 month high of $96.12.

Edwards Lifesciences (NYSE:EW) last issued its quarterly earnings results on Thursday, October 24th. The medical research company reported $0.67 EPS for the quarter, meeting analysts’ consensus estimates of $0.67. The firm had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.57 billion. Edwards Lifesciences had a return on equity of 20.76% and a net margin of 70.82%. The business’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.59 EPS. Research analysts expect that Edwards Lifesciences will post 2.57 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Larry L. Wood sold 25,000 shares of the company’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $65.91, for a total value of $1,647,750.00. Following the sale, the insider now owns 198,526 shares in the company, valued at approximately $13,084,848.66. This represents a 11.18 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Donald E. Bobo, Jr. sold 5,000 shares of the business’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $65.57, for a total transaction of $327,850.00. Following the sale, the vice president now directly owns 46,936 shares of the company’s stock, valued at approximately $3,077,593.52. This represents a 9.63 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 40,000 shares of company stock worth $2,657,000 over the last ninety days. Corporate insiders own 1.29% of the company’s stock.

Institutional Investors Weigh In On Edwards Lifesciences

Several hedge funds have recently made changes to their positions in EW. First Community Trust NA bought a new position in shares of Edwards Lifesciences during the 2nd quarter worth about $29,000. FSA Wealth Management LLC acquired a new stake in shares of Edwards Lifesciences during the 3rd quarter worth approximately $30,000. Prospera Private Wealth LLC acquired a new position in Edwards Lifesciences during the third quarter valued at approximately $32,000. Avior Wealth Management LLC grew its holdings in Edwards Lifesciences by 138.7% during the third quarter. Avior Wealth Management LLC now owns 530 shares of the medical research company’s stock valued at $35,000 after purchasing an additional 308 shares during the period. Finally, Webster Bank N. A. acquired a new position in Edwards Lifesciences during the second quarter valued at approximately $39,000. Hedge funds and other institutional investors own 79.46% of the company’s stock.

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.