Canaccord Genuity Group Forecasts Strong Price Appreciation for Edwards Lifesciences (NYSE:EW) Stock

Edwards Lifesciences (NYSE:EW - Get Free Report) had its target price boosted by stock analysts at Canaccord Genuity Group from $71.00 to $75.00 in a research note issued on Friday, Marketbeat reports. The firm presently has a "hold" rating on the medical research company's stock. Canaccord Genuity Group's price objective suggests a potential downside of 0.33% from the company's previous close.

Several other brokerages have also issued reports on EW. Morgan Stanley upped their target price on Edwards Lifesciences from $70.00 to $75.00 and gave the company an "equal weight" rating in a research report on Wednesday, February 12th. Wolfe Research lowered Edwards Lifesciences from a "hold" rating to a "strong sell" rating in a report on Wednesday, February 12th. Stifel Nicolaus raised Edwards Lifesciences from a "hold" rating to a "buy" rating and increased their price objective for the company from $75.00 to $90.00 in a report on Thursday, January 30th. Truist Financial cut their price objective on Edwards Lifesciences from $78.00 to $75.00 and set a "hold" rating on the stock in a report on Friday, April 11th. Finally, Robert W. Baird increased their price objective on Edwards Lifesciences from $72.00 to $75.00 and gave the company a "neutral" rating in a report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $79.45.

Edwards Lifesciences Stock Down 1.4 %

NYSE:EW traded down $1.03 during mid-day trading on Friday, hitting $75.25. 1,400,453 shares of the company's stock traded hands, compared to its average volume of 4,980,719. The company has a fifty day moving average of $70.99 and a 200 day moving average of $71.20. Edwards Lifesciences has a twelve month low of $58.93 and a twelve month high of $95.25. The company has a market capitalization of $44.24 billion, a P/E ratio of 10.80, a P/E/G ratio of 4.82 and a beta of 1.15. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.89 and a current ratio of 3.46.

Edwards Lifesciences (NYSE:EW - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The medical research company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.04. Edwards Lifesciences had a return on equity of 19.40% and a net margin of 72.93%. The company had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.40 billion. During the same period in the prior year, the company posted $0.66 EPS. The firm's quarterly revenue was up 6.2% compared to the same quarter last year. On average, analysts forecast that Edwards Lifesciences will post 2.45 EPS for the current year.

Insider Buying and Selling at Edwards Lifesciences

In other news, VP Daniel J. Lippis sold 400 shares of Edwards Lifesciences stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $69.48, for a total value of $27,792.00. Following the sale, the vice president now directly owns 22,588 shares of the company's stock, valued at $1,569,414.24. The trade was a 1.74 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Donald E. Bobo, Jr. sold 9,500 shares of Edwards Lifesciences stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $67.96, for a total value of $645,620.00. Following the completion of the sale, the vice president now directly owns 46,936 shares in the company, valued at $3,189,770.56. This represents a 16.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 71,853 shares of company stock valued at $5,163,062. Company insiders own 1.29% of the company's stock.

Institutional Trading of Edwards Lifesciences

Institutional investors have recently made changes to their positions in the company. Crowley Wealth Management Inc. acquired a new stake in shares of Edwards Lifesciences in the fourth quarter worth approximately $26,000. Vega Investment Solutions purchased a new position in Edwards Lifesciences during the fourth quarter worth approximately $27,000. Millstone Evans Group LLC purchased a new position in Edwards Lifesciences during the fourth quarter worth approximately $29,000. Global X Japan Co. Ltd. lifted its position in Edwards Lifesciences by 116.1% during the first quarter. Global X Japan Co. Ltd. now owns 402 shares of the medical research company's stock worth $29,000 after buying an additional 216 shares in the last quarter. Finally, Tradewinds Capital Management LLC lifted its position in Edwards Lifesciences by 102.5% during the first quarter. Tradewinds Capital Management LLC now owns 405 shares of the medical research company's stock worth $29,000 after buying an additional 205 shares in the last quarter. 79.46% of the stock is owned by institutional investors and hedge funds.

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.