Edwards Lifesciences (NYSE:EW) PT Lowered to $70.00 at Truist Financial

Edwards Lifesciences (NYSE:EW) had its target price reduced by Truist Financial from $71.00 to $70.00 in a report published on Friday, Benzinga reports. They currently have a hold rating on the medical research company’s stock.

Several other research analysts have also weighed in on EW. Royal Bank of Canada decreased their price objective on shares of Edwards Lifesciences from $85.00 to $75.00 and set an “outperform” rating for the company in a report on Tuesday, October 8th. Baird R W lowered Edwards Lifesciences from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 25th. Daiwa America upgraded Edwards Lifesciences to a “strong-buy” rating in a research report on Wednesday, July 31st. UBS Group dropped their price target on Edwards Lifesciences from $90.00 to $75.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 10th. Finally, Bank of America downgraded shares of Edwards Lifesciences from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $105.00 to $75.00 in a report on Thursday, July 25th. Fifteen equities research 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’s stock. Based on data from MarketBeat, Edwards Lifesciences has a consensus rating of “Hold” and a consensus price target of $75.67.

Edwards Lifesciences Stock Down 1.4 %

Shares of Edwards Lifesciences stock traded down $0.97 during trading hours on Friday, hitting $69.38. 8,171,703 shares of the company’s stock traded hands, compared to its average volume of 4,595,216. The company has a quick ratio of 2.87, a current ratio of 3.71 and a debt-to-equity ratio of 0.08. Edwards Lifesciences has a twelve month low of $58.93 and a twelve month high of $96.12. The stock has a 50 day simple moving average of $68.09 and a 200-day simple moving average of $78.49. The company has a market cap of $41.81 billion, a PE ratio of 29.91, a PEG ratio of 2.83 and a beta of 1.13.

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

Insider Activity

In related news, VP Daveen Chopra sold 1,250 shares of the business’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. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, VP Donald E. Bobo, Jr. sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $66.77, for a total transaction of $333,850.00. Following the completion of the transaction, the vice president now owns 46,936 shares in the company, valued at approximately $3,133,916.72. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Daveen Chopra sold 1,250 shares of the business’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 completion of the sale, the vice president now owns 29,333 shares in the company, valued at $2,051,843.35. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 16,250 shares of company stock worth $1,099,238 over the last three months. Corporate insiders own 1.29% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in EW. Crewe Advisors LLC bought a new stake in shares of Edwards Lifesciences during the 1st quarter worth $28,000. First Community Trust NA acquired a new position in shares of Edwards Lifesciences in the 2nd quarter valued at $29,000. Webster Bank N. A. acquired a new stake in Edwards Lifesciences during the 2nd quarter worth about $39,000. Versant Capital Management Inc raised its holdings in Edwards Lifesciences by 206.3% during the 2nd quarter. Versant Capital Management Inc now owns 484 shares of the medical research company’s stock worth $45,000 after buying an additional 326 shares during the period. Finally, HHM Wealth Advisors LLC acquired a new position in shares of Edwards Lifesciences in the second quarter worth about $55,000. Institutional investors and hedge funds 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.