Edwards Lifesciences (NYSE:EW) Given New $88.00 Price Target at Wells Fargo & Company

Key Points

• Wells Fargo & Company raised the price target for Edwards Lifesciences from $84.00 to $88.00, suggesting a potential upside of 13.39% from current levels.
• Edwards Lifesciences has received a consensus rating of "Moderate Buy" with an average price target of $85.90 from various analysts.
• Despite the positive outlook, shares of Edwards Lifesciences traded down by 1.3% to $77.61 during midday trading.

Edwards Lifesciences (NYSE:EW - Get Free Report) had its price objective increased by equities research analysts at Wells Fargo & Company from $84.00 to $88.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has an "overweight" rating on the medical research company's stock. Wells Fargo & Company's target price would indicate a potential upside of 12.29% from the company's current price.

Other equities research analysts have also issued research reports about the stock. Wall Street Zen upgraded shares of Edwards Lifesciences from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. The Goldman Sachs Group reiterated a "buy" rating on shares of Edwards Lifesciences in a research note on Friday, July 25th. Evercore ISI increased their price objective on shares of Edwards Lifesciences from $77.00 to $80.00 and gave the stock an "in-line" rating in a research note on Friday, July 25th. JPMorgan Chase & Co. increased their price objective on shares of Edwards Lifesciences from $80.00 to $85.00 and gave the stock a "neutral" rating in a research note on Friday, July 25th. Finally, Truist Financial raised their price target on shares of Edwards Lifesciences from $81.00 to $82.00 and gave the company a "hold" rating in a research note on Friday, July 25th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, thirteen have issued a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $85.90.

Edwards Lifesciences Stock Up 0.6%

Shares of EW stock traded up $0.44 during trading hours on Thursday, hitting $78.37. 2,877,353 shares of the company were exchanged, compared to its average volume of 5,184,443. The company has a debt-to-equity ratio of 0.06, a quick ratio of 3.66 and a current ratio of 4.68. Edwards Lifesciences has a one year low of $62.88 and a one year high of $83.00. The business's 50-day simple moving average is $77.12 and its two-hundred day simple moving average is $74.14. The stock has a market capitalization of $46.01 billion, a price-to-earnings ratio of 11.28, a P/E/G ratio of 3.79 and a beta of 1.08.

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

Insider Buying and Selling at Edwards Lifesciences

In related news, VP Daniel J. Lippis sold 4,114 shares of the firm's stock in a transaction that occurred on Monday, July 28th. The shares were sold at an average price of $79.46, for a total value of $326,898.44. Following the completion of the transaction, the vice president owned 22,002 shares of the company's stock, valued at approximately $1,748,278.92. This trade represents a 15.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Larry L. Wood sold 8,950 shares of the firm's stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $75.23, for a total transaction of $673,308.50. Following the completion of the transaction, the insider directly owned 206,900 shares of the company's stock, valued at $15,565,087. This represents a 4.15% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 17,134 shares of company stock valued at $1,311,745. 1.29% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Edwards Lifesciences

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Parkside Financial Bank & Trust boosted its stake in shares of Edwards Lifesciences by 9.8% during the 2nd quarter. Parkside Financial Bank & Trust now owns 1,455 shares of the medical research company's stock valued at $114,000 after buying an additional 130 shares during the period. Prosperity Consulting Group LLC boosted its stake in shares of Edwards Lifesciences by 3.2% during the 2nd quarter. Prosperity Consulting Group LLC now owns 4,304 shares of the medical research company's stock valued at $337,000 after buying an additional 132 shares during the period. NewSquare Capital LLC boosted its stake in shares of Edwards Lifesciences by 57.8% during the 2nd quarter. NewSquare Capital LLC now owns 366 shares of the medical research company's stock valued at $29,000 after buying an additional 134 shares during the period. Arlington Trust Co LLC boosted its stake in shares of Edwards Lifesciences by 1.2% during the 1st quarter. Arlington Trust Co LLC now owns 11,092 shares of the medical research company's stock valued at $804,000 after buying an additional 135 shares during the period. Finally, Valeo Financial Advisors LLC boosted its stake in shares of Edwards Lifesciences by 2.8% during the 1st quarter. Valeo Financial Advisors LLC now owns 5,136 shares of the medical research company's stock valued at $372,000 after buying an additional 142 shares during the period. 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.