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Edwards Lifesciences (NYSE:EW) Price Target Raised to $81.00 at Morgan Stanley

Edwards Lifesciences logo with Medical background

Edwards Lifesciences (NYSE:EW - Get Free Report) had its price objective raised by research analysts at Morgan Stanley from $75.00 to $81.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an "equal weight" rating on the medical research company's stock. Morgan Stanley's price target points to a potential upside of 2.98% from the company's current price.

Several other analysts also recently issued reports on EW. Canaccord Genuity Group lifted their price target on shares of Edwards Lifesciences from $71.00 to $75.00 and gave the company a "hold" rating in a research report on Friday, April 25th. Truist Financial cut their price target on shares of Edwards Lifesciences from $78.00 to $75.00 and set a "hold" rating on the stock in a report on Friday, April 11th. Citigroup reissued a "buy" rating and issued a $95.00 price target (up from $84.00) on shares of Edwards Lifesciences in a report on Thursday, May 22nd. Piper Sandler boosted their price target on shares of Edwards Lifesciences from $80.00 to $83.00 and gave the stock an "overweight" rating in a report on Tuesday, May 13th. Finally, Evercore ISI boosted their price objective on Edwards Lifesciences from $73.00 to $77.00 and gave the company an "in-line" rating in a research note on Tuesday, July 8th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $80.70.

Read Our Latest Analysis on Edwards Lifesciences

Edwards Lifesciences Price Performance

NYSE:EW opened at $78.65 on Tuesday. Edwards Lifesciences has a 52 week low of $58.93 and a 52 week high of $91.49. The firm has a market cap of $46.14 billion, a price-to-earnings ratio of 11.24, a P/E/G ratio of 3.92 and a beta of 1.11. The firm's 50-day simple moving average is $76.36 and its 200 day simple moving average is $73.37. 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 announced its quarterly earnings data on Wednesday, April 23rd. The medical research company reported $0.64 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.60 by $0.04. Edwards Lifesciences had a net margin of 75.48% and a return on equity of 16.62%. The firm had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.40 billion. During the same period in the prior year, the company posted $0.66 earnings per share. The business's revenue for the quarter was up 6.2% on a year-over-year basis. As a group, sell-side analysts predict that Edwards Lifesciences will post 2.45 earnings per share for the current year.

Insider Buying and Selling at Edwards Lifesciences

In related news, CFO Scott B. Ullem sold 11,250 shares of the stock in a transaction on Friday, May 9th. The stock was sold at an average price of $74.40, for a total transaction of $837,000.00. Following the sale, the chief financial officer owned 41,098 shares in the company, valued at approximately $3,057,691.20. This represents a 21.49% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Bernard J. Zovighian sold 5,980 shares of the stock in a transaction on Monday, May 5th. The stock was sold at an average price of $74.91, for a total value of $447,961.80. Following the completion of the sale, the chief executive officer owned 58,284 shares in the company, valued at approximately $4,366,054.44. The trade was a 9.31% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 30,848 shares of company stock worth $2,314,488. Company insiders own 0.34% of the company's stock.

Institutional Investors Weigh In On Edwards Lifesciences

Institutional investors have recently added to or reduced their stakes in the stock. Martin Capital Advisors LLP grew its stake in shares of Edwards Lifesciences by 2.8% during the second quarter. Martin Capital Advisors LLP now owns 25,624 shares of the medical research company's stock worth $2,004,000 after acquiring an additional 700 shares during the last quarter. CHICAGO TRUST Co NA grew its stake in shares of Edwards Lifesciences by 111.9% during the second quarter. CHICAGO TRUST Co NA now owns 11,663 shares of the medical research company's stock worth $912,000 after acquiring an additional 6,158 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Edwards Lifesciences by 65.0% during the second quarter. GAMMA Investing LLC now owns 7,763 shares of the medical research company's stock worth $607,000 after acquiring an additional 3,059 shares during the last quarter. Farmers & Merchants Investments Inc. grew its stake in shares of Edwards Lifesciences by 0.9% during the second quarter. Farmers & Merchants Investments Inc. now owns 138,782 shares of the medical research company's stock worth $10,854,000 after acquiring an additional 1,229 shares during the last quarter. Finally, Park Avenue Securities LLC acquired a new stake in shares of Edwards Lifesciences during the second quarter worth about $315,000. Institutional investors own 79.46% of the company's stock.

Edwards Lifesciences Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Edwards Lifesciences (NYSE:EW)

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.

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