Edwards Lifesciences' (EW) Hold (C) Rating Reiterated at Weiss Ratings

Key Points

• Edwards Lifesciences' stock has been reaffirmed with a "hold (c)" rating by Weiss Ratings, while several analysts raised their price targets, with BTIG Research setting a target of $100.00.
• Despite a recent stock price decrease of 0.5%, the company reported better-than-expected quarterly earnings with an EPS of $0.67 compared to a consensus estimate of $0.62.
• Institutional investors own 79.46% of Edwards Lifesciences, with notable increases in holdings from several firms during the 3rd quarter.

Edwards Lifesciences (NYSE:EW - Get Free Report)'s stock had its "hold (c)" rating reaffirmed by analysts at Weiss Ratings in a report issued on Friday,Weiss Ratings reports.

Several other analysts have also recently commented on EW. BTIG Research raised Edwards Lifesciences from a "neutral" rating to a "buy" rating and set a $100.00 price target for the company in a report on Tuesday, July 29th. Morgan Stanley raised their price target on Edwards Lifesciences from $75.00 to $81.00 and gave the company an "equal weight" rating in a report on Tuesday, July 15th. Piper Sandler raised their price target on Edwards Lifesciences from $83.00 to $90.00 and gave the company an "overweight" rating in a report on Friday, July 25th. Robert W. Baird raised their price objective on Edwards Lifesciences from $78.00 to $79.00 and gave the company a "neutral" rating in a research note on Friday, July 25th. Finally, Wells Fargo & Company raised their price objective on Edwards Lifesciences from $84.00 to $88.00 and gave the company an "overweight" rating in a research note on Thursday, August 7th. Three equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $87.06.

Edwards Lifesciences Stock Down 0.5%

EW opened at $76.15 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 4.68 and a quick ratio of 3.87. The business has a 50 day simple moving average of $77.37 and a 200-day simple moving average of $76.37. The stock has a market capitalization of $44.70 billion, a P/E ratio of 10.96, a P/E/G ratio of 3.67 and a beta of 1.05. Edwards Lifesciences has a 12 month low of $64.89 and a 12 month high of $83.00.

Edwards Lifesciences (NYSE:EW - Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The medical research company reported $0.67 EPS for the quarter, beating the consensus estimate of $0.62 by $0.05. The business had revenue of $1.53 billion during the quarter, compared to analysts' expectations of $1.49 billion. Edwards Lifesciences had a return on equity of 15.01% and a net margin of 72.96%.The company's quarterly revenue was up 11.9% compared to the same quarter last year. During the same period last year, the firm earned $0.70 EPS. On average, equities analysts anticipate that Edwards Lifesciences will post 2.45 earnings per share for the current fiscal year.

Insider Activity at Edwards Lifesciences

In other Edwards Lifesciences news, VP Daniel J. Lippis sold 4,114 shares of the stock in a transaction on Monday, July 28th. The stock was sold at an average price of $79.46, for a total transaction of $326,898.44. Following the sale, the vice president owned 22,002 shares in the company, valued at approximately $1,748,278.92. This represents a 15.75% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Larry L. Wood sold 8,950 shares of the stock in a transaction on Monday, August 18th. The shares were sold at an average price of $78.06, for a total value of $698,637.00. Following the sale, the insider owned 206,900 shares in the company, valued at approximately $16,150,614. This trade represents a 4.15% decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.29% of the company's stock.

Institutional Investors Weigh In On Edwards Lifesciences

A number of large investors have recently bought and sold shares of the stock. MGO One Seven LLC grew its holdings in Edwards Lifesciences by 160.7% during the 3rd quarter. MGO One Seven LLC now owns 18,944 shares of the medical research company's stock valued at $1,473,000 after buying an additional 11,678 shares during the last quarter. Citizens Financial Group Inc. RI grew its holdings in Edwards Lifesciences by 16.2% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 4,512 shares of the medical research company's stock valued at $351,000 after buying an additional 630 shares during the last quarter. Tema Etfs LLC grew its holdings in Edwards Lifesciences by 55.0% during the 3rd quarter. Tema Etfs LLC now owns 22,348 shares of the medical research company's stock valued at $1,738,000 after buying an additional 7,927 shares during the last quarter. Bayforest Capital Ltd acquired a new stake in Edwards Lifesciences during the 3rd quarter valued at $169,000. Finally, Forum Financial Management LP grew its holdings in Edwards Lifesciences by 21.6% during the 3rd quarter. Forum Financial Management LP now owns 7,702 shares of the medical research company's stock valued at $599,000 after buying an additional 1,366 shares during the last quarter. Institutional investors and hedge funds 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.