Robert W. Baird Issues Positive Forecast for Edwards Lifesciences (NYSE:EW) Stock Price

Key Points

• Robert W. Baird has increased its price target for Edwards Lifesciences from $78.00 to $79.00, suggesting a potential upside of 4.39% from the current price.
• Several brokerages have recently revised their ratings and price targets, with Argus upgrading to a "strong-buy" and Mizuho increasing its target to $87.00.
• Edwards Lifesciences reported a quarterly earnings per share (EPS) of $0.67, exceeding analysts' expectations of $0.62 and representing an 11.9% year-over-year revenue increase.

Edwards Lifesciences (NYSE:EW - Get Free Report) had its target price increased by equities research analysts at Robert W. Baird from $78.00 to $79.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has a "neutral" rating on the medical research company's stock. Robert W. Baird's target price points to a potential upside of 0.69% from the company's current price.

Other research analysts have also issued reports about the company. Argus upgraded Edwards Lifesciences to a "strong-buy" rating in a research note on Thursday, July 10th. Mizuho upped their target price on Edwards Lifesciences from $85.00 to $87.00 and gave the company an "outperform" rating in a research note on Wednesday, July 16th. Citigroup restated a "buy" rating and issued a $95.00 target price (up from $84.00) on shares of Edwards Lifesciences in a research note on Thursday, May 22nd. Dbs Bank upgraded Edwards Lifesciences to a "hold" rating in a research report on Monday, June 2nd. Finally, Truist Financial lowered their price target on Edwards Lifesciences from $78.00 to $75.00 and set a "hold" rating on the stock in a research report on Friday, April 11th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Edwards Lifesciences presently has an average rating of "Moderate Buy" and an average price target of $85.00.

Edwards Lifesciences Stock Down 1.9%

Shares of NYSE EW traded down $1.54 during trading hours on Friday, hitting $78.46. The stock had a trading volume of 5,960,515 shares, compared to its average volume of 4,575,252. The company has a market capitalization of $46.02 billion, a P/E ratio of 11.29, a P/E/G ratio of 4.00 and a beta of 1.11. The firm's 50-day moving average price is $76.58 and its two-hundred day moving average price is $73.55. Edwards Lifesciences has a 52 week low of $59.41 and a 52 week high of $83.00. The company has a debt-to-equity ratio of 0.06, a quick ratio of 3.66 and a current ratio of 4.45.

Edwards Lifesciences (NYSE:EW - Get Free Report) last posted its earnings results on Thursday, July 24th. The medical research company reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.05. Edwards Lifesciences had a return on equity of 15.25% and a net margin of 72.96%. The firm had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.49 billion. During the same period in the previous year, the company earned $0.70 EPS. The company's revenue for the quarter was up 11.9% on a year-over-year basis. Analysts anticipate that Edwards Lifesciences will post 2.45 EPS for the current fiscal year.

Insider Transactions at Edwards Lifesciences

In other Edwards Lifesciences news, CFO Scott B. Ullem sold 11,250 shares of the stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $74.40, for a total value of $837,000.00. Following the transaction, the chief financial officer owned 41,098 shares of the company's stock, valued at approximately $3,057,691.20. This represents a 21.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Donald E. Bobo, Jr. sold 2,570 shares of the stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $77.40, for a total value of $198,918.00. Following the completion of the transaction, the vice president directly owned 50,356 shares in the company, valued at $3,897,554.40. The trade was a 4.86% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 30,848 shares of company stock valued at $2,314,488. Corporate insiders own 1.29% of the company's stock.

Institutional Investors Weigh In On Edwards Lifesciences

A number of hedge funds have recently modified their holdings of EW. Brighton Jones LLC bought a new position in shares of Edwards Lifesciences during the fourth quarter worth about $266,000. Bank Pictet & Cie Europe AG lifted its holdings in Edwards Lifesciences by 16.7% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 10,231 shares of the medical research company's stock worth $757,000 after purchasing an additional 1,463 shares during the last quarter. LPL Financial LLC raised its holdings in Edwards Lifesciences by 8.8% in the 4th quarter. LPL Financial LLC now owns 261,680 shares of the medical research company's stock valued at $19,372,000 after acquiring an additional 21,219 shares in the last quarter. TIAA Trust National Association raised its holdings in Edwards Lifesciences by 6.4% in the 4th quarter. TIAA Trust National Association now owns 10,943 shares of the medical research company's stock valued at $810,000 after acquiring an additional 656 shares in the last quarter. Finally, Korea Investment CORP raised its holdings in Edwards Lifesciences by 46.5% in the 4th quarter. Korea Investment CORP now owns 470,650 shares of the medical research company's stock valued at $34,842,000 after acquiring an additional 149,315 shares in the last quarter. 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.