Evercore ISI Forecasts Strong Price Appreciation for Edwards Lifesciences (NYSE:EW) Stock

Edwards Lifesciences (NYSE:EW - Free Report) had its target price hoisted by Evercore ISI from $73.00 to $77.00 in a research report sent to investors on Tuesday,Benzinga reports. They currently have an in-line rating on the medical research company's stock.

Several other brokerages also recently issued reports on EW. Citigroup restated a "buy" rating and issued a $95.00 price objective (up previously from $84.00) on shares of Edwards Lifesciences in a research note on Thursday, May 22nd. Piper Sandler lifted their price objective on Edwards Lifesciences from $80.00 to $83.00 and gave the company an "overweight" rating in a report on Tuesday, May 13th. Wall Street Zen cut Edwards Lifesciences from a "buy" rating to a "hold" rating in a report on Friday, May 16th. Truist Financial cut their price target on Edwards Lifesciences from $78.00 to $75.00 and set a "hold" rating for the company in a report on Friday, April 11th. Finally, Dbs Bank upgraded shares of Edwards Lifesciences to a "hold" rating in a research report on Monday, June 2nd. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $80.40.

Edwards Lifesciences Stock Down 0.3%

Shares of EW stock traded down $0.25 on Tuesday, hitting $76.44. The stock had a trading volume of 2,411,988 shares, compared to its average volume of 5,231,631. The firm has a market capitalization of $44.84 billion, a price-to-earnings ratio of 10.92, a P/E/G ratio of 3.86 and a beta of 1.11. The stock's 50 day moving average is $76.14 and its 200-day moving average is $73.29. 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 has a 52-week low of $58.93 and a 52-week high of $95.25.

Edwards Lifesciences (NYSE:EW - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The medical research company reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.04. The firm had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.40 billion. Edwards Lifesciences had a net margin of 75.48% and a return on equity of 16.62%. Edwards Lifesciences's quarterly revenue was up 6.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.66 earnings per share. As a group, research analysts expect that Edwards Lifesciences will post 2.45 earnings per share for the current year.

Insider Transactions at Edwards Lifesciences

In other Edwards Lifesciences news, VP Daveen Chopra sold 1,500 shares of the business's stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $75.08, for a total value of $112,620.00. Following the completion of the sale, the vice president owned 33,496 shares of the company's stock, valued at $2,514,879.68. The trade was a 4.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Bernard J. Zovighian sold 5,980 shares of the business's stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $74.91, for a total transaction of $447,961.80. Following the transaction, the chief executive officer owned 58,284 shares of the company's stock, valued at approximately $4,366,054.44. This represents a 9.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 40,348 shares of company stock worth $2,977,683. 0.34% of the stock is currently owned by company insiders.

Institutional Trading of Edwards Lifesciences

Large investors have recently bought and sold shares of the business. Crowley Wealth Management Inc. bought a new position in shares of Edwards Lifesciences during the fourth quarter worth about $26,000. Quantbot Technologies LP bought a new stake in shares of Edwards Lifesciences during the first quarter valued at approximately $26,000. Vega Investment Solutions bought a new stake in shares of Edwards Lifesciences during the fourth quarter valued at approximately $27,000. SouthState Corp bought a new stake in shares of Edwards Lifesciences during the first quarter valued at approximately $27,000. Finally, Millstone Evans Group LLC purchased a new position in shares of Edwards Lifesciences during the fourth quarter valued at approximately $29,000. 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.