Edwards Lifesciences (NYSE:EW) Price Target Lowered to $68.00 at Robert W. Baird

Edwards Lifesciences (NYSE:EW) had its target price cut by Robert W. Baird from $73.00 to $68.00 in a report released on Friday, Benzinga reports. They currently have a neutral rating on the medical research company’s stock.

A number of other brokerages have also recently issued reports on EW. Daiwa Capital Markets raised Edwards Lifesciences from a “neutral” rating to an “outperform” rating in a research report on Wednesday, July 31st. Evercore ISI lowered their target price on Edwards Lifesciences from $76.00 to $70.00 and set an “in-line” rating on the stock in a report on Tuesday, October 1st. JPMorgan Chase & Co. cut Edwards Lifesciences from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $105.00 to $72.00 in a research report on Thursday, July 25th. Wolfe Research raised shares of Edwards Lifesciences from an “underperform” rating to a “peer perform” rating in a report on Monday, July 29th. Finally, Bank of America lowered Edwards Lifesciences from a “buy” rating to a “neutral” rating and lowered their price target for the company from $105.00 to $75.00 in a research note on Thursday, July 25th. Fifteen investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Edwards Lifesciences presently has an average rating of “Hold” and an average target price of $75.67.

Edwards Lifesciences Stock Down 1.4 %

Shares of NYSE:EW traded down $0.97 during trading on Friday, reaching $69.38. 8,171,703 shares of the company traded hands, compared to its average volume of 4,595,216. Edwards Lifesciences has a 1-year low of $58.93 and a 1-year high of $96.12. The company has a quick ratio of 2.87, a current ratio of 3.71 and a debt-to-equity ratio of 0.08. The firm has a market cap of $41.81 billion, a P/E ratio of 29.91, a price-to-earnings-growth ratio of 2.83 and a beta of 1.13. The firm has a fifty day simple moving average of $68.09 and a 200 day simple moving average of $78.49.

Edwards Lifesciences (NYSE:EW) last posted its quarterly earnings results on Thursday, October 24th. The medical research company reported $0.67 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.67. Edwards Lifesciences had a return on equity of 22.35% and a net margin of 24.55%. The company had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.57 billion. During the same period last year, the business earned $0.59 EPS. The business’s quarterly revenue was up 8.9% on a year-over-year basis. Analysts anticipate that Edwards Lifesciences will post 2.71 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, VP Donald E. Bobo, Jr. sold 5,000 shares of the business’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $69.51, for a total transaction of $347,550.00. Following the transaction, the vice president now directly owns 46,936 shares in the company, valued at approximately $3,262,521.36. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Edwards Lifesciences news, VP Donald E. Bobo, Jr. sold 5,000 shares of the stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $69.51, for a total value of $347,550.00. Following the transaction, the vice president now directly owns 46,936 shares of the company’s stock, valued at $3,262,521.36. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Daveen Chopra sold 1,250 shares of the firm’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $69.95, for a total transaction of $87,437.50. Following the sale, the vice president now owns 29,333 shares of the company’s stock, valued at $2,051,843.35. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 16,250 shares of company stock worth $1,099,238. Corporate insiders own 1.29% of the company’s stock.

Institutional Investors Weigh In On Edwards Lifesciences

Institutional investors have recently modified their holdings of the business. Solidarity Wealth LLC bought a new stake in shares of Edwards Lifesciences in the third quarter valued at approximately $1,034,000. JFS Wealth Advisors LLC grew its holdings in shares of Edwards Lifesciences by 31.1% during the 3rd quarter. JFS Wealth Advisors LLC now owns 700 shares of the medical research company’s stock worth $46,000 after purchasing an additional 166 shares in the last quarter. SteelPeak Wealth LLC increased its position in shares of Edwards Lifesciences by 24.9% in the third quarter. SteelPeak Wealth LLC now owns 3,666 shares of the medical research company’s stock worth $242,000 after purchasing an additional 732 shares during the period. Diversify Wealth Management LLC raised its stake in Edwards Lifesciences by 20.2% in the third quarter. Diversify Wealth Management LLC now owns 18,726 shares of the medical research company’s stock valued at $1,322,000 after purchasing an additional 3,150 shares in the last quarter. Finally, Evermay Wealth Management LLC lifted its position in Edwards Lifesciences by 351.4% during the third quarter. Evermay Wealth Management LLC now owns 3,372 shares of the medical research company’s stock worth $223,000 after purchasing an additional 2,625 shares during the period. 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.