Edwards Lifesciences (NYSE:EW) Cut to Hold at Wall Street Zen

Key Points

• Wall Street Zen downgraded Edwards Lifesciences from “Buy” to “Hold,” although the broader analyst consensus remains “Moderate Buy” with a $101.16 price target.
• Recent analyst views were mixed: Robert W. Baird lowered its target to $90 and maintained a neutral rating, while several firms raised targets or issued buy and strong-buy ratings.
• Edwards Lifesciences shares opened at $91.91, near their 12-month high of $96.29, while insiders sold $451,596 worth of stock over the past three months; institutional investors own 79.46% of shares.

Edwards Lifesciences (NYSE:EW - Get Free Report) was downgraded by analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

Several other research analysts have also recently issued reports on the stock. Robert W. Baird reduced their target price on shares of Edwards Lifesciences from $94.00 to $90.00 and set a "neutral" rating for the company in a report on Thursday, October 15th. Rothschild & Co Redburn boosted their target price on shares of Edwards Lifesciences from $99.00 to $102.00 and gave the company a "buy" rating in a research report on Monday, July 27th. Argus upped their price target on shares of Edwards Lifesciences from $105.00 to $115.00 and gave the company a "buy" rating in a report on Friday, August 21st. Barclays raised Edwards Lifesciences to a "strong-buy" rating in a research report on Wednesday, October 7th. Finally, JPMorgan Chase & Co. lifted their price objective on Edwards Lifesciences from $100.00 to $105.00 and gave the company an "overweight" rating in a research note on Friday, October 2nd. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $101.16.

Edwards Lifesciences Stock Performance

Shares of NYSE EW opened at $91.91 on Friday. The company has a 50 day simple moving average of $88.15 and a two-hundred day simple moving average of $85.43. The stock has a market cap of $52.92 billion, a price-to-earnings ratio of 33.61, a PEG ratio of 2.47 and a beta of 0.87. The company has a current ratio of 4.52, a quick ratio of 3.77 and a debt-to-equity ratio of 0.06. Edwards Lifesciences has a 12 month low of $74.66 and a 12 month high of $96.29.

Insider Activity at Edwards Lifesciences

In related news, SVP Andrew M. Dahl sold 544 shares of the firm's stock in a transaction on Monday, August 31st. The shares were sold at an average price of $91.06, for a total transaction of $49,536.64. Following the sale, the senior vice president owned 14,868 shares in the company, valued at approximately $1,353,880.08. This trade represents a 3.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Daniel J. Lippis sold 619 shares of Edwards Lifesciences stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $92.03, for a total transaction of $56,966.57. Following the completion of the transaction, the vice president directly owned 40,034 shares of the company's stock, valued at $3,684,329.02. The trade was a 1.52% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 5,045 shares of company stock worth $451,596 in the last three months. Company insiders own 0.31% of the company's stock.

Institutional Investors Weigh In On Edwards Lifesciences

Several hedge funds have recently modified their holdings of the company. Ascent Group LLC boosted its position in shares of Edwards Lifesciences by 6.4% during the 3rd quarter. Ascent Group LLC now owns 5,391 shares of the medical research company's stock valued at $465,000 after acquiring an additional 326 shares during the last quarter. Rakuten Investment Management Inc. purchased a new stake in shares of Edwards Lifesciences in the third quarter valued at about $9,109,000. AIA Group Ltd grew its holdings in shares of Edwards Lifesciences by 46.5% in the third quarter. AIA Group Ltd now owns 311,846 shares of the medical research company's stock valued at $26,919,000 after purchasing an additional 99,041 shares during the period. TrinityBridge Ltd increased its position in Edwards Lifesciences by 26,553.7% during the third quarter. TrinityBridge Ltd now owns 79,961 shares of the medical research company's stock worth $6,904,000 after purchasing an additional 79,661 shares during the last quarter. Finally, Integrity Alliance LLC. increased its position in Edwards Lifesciences by 27.5% during the third quarter. Integrity Alliance LLC. now owns 4,038 shares of the medical research company's stock worth $349,000 after purchasing an additional 870 shares during the last quarter. 79.46% of the stock is owned by hedge funds and other institutional investors.

About Edwards Lifesciences

Edwards Lifesciences Corporation NYSE: EW is a medical technology company focused on therapies for structural heart disease and critical care. The company develops and manufactures products designed to treat conditions affecting the heart's valves, including aortic, mitral and tricuspid valve disorders.

Its portfolio includes transcatheter aortic valve replacement systems, transcatheter mitral and tricuspid therapies, surgical heart valves and valve-repair technologies. Edwards also provides related delivery systems and other medical devices used by physicians in minimally invasive and open-heart procedures.

Founded in 1958 by Miles Lowell Edwards, the company is headquartered in Irvine, California, and serves healthcare providers and patients internationally.

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