Edwards Lifesciences (NYSE:EW) Price Target Raised to $95.00

Key Points

• Edwards Lifesciences had its price target raised from $90.00 to $95.00 by Barclays, indicating a potential upside of 19.41% from the previous close.
• Multiple research firms have boosted their price targets for Edwards Lifesciences, with a consensus rating of "Hold" and an average target price of $82.95.
• Edwards Lifesciences reported $1.53 billion in quarterly revenue, surpassing estimates, and earnings per share of $0.67, beating the consensus by $0.05.
• Insider trading shows VP Daveen Chopra sold 1,500 shares recently, reducing ownership by 4.29%, amid broader insider sales totaling 30,848 shares over the last three months.

Edwards Lifesciences (NYSE:EW - Free Report) had its target price upped by Barclays from $90.00 to $95.00 in a report published on Friday morning,Benzinga reports. They currently have an overweight rating on the medical research company's stock.

EW has been the topic of a number of other reports. Truist Financial decreased their target price 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. Wells Fargo & Company increased their price objective on Edwards Lifesciences from $80.00 to $84.00 and gave the company an "overweight" rating in a research note on Friday. Mizuho increased their price objective on Edwards Lifesciences from $85.00 to $87.00 and gave the company an "outperform" rating in a research note on Wednesday, July 16th. Robert W. Baird increased 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. Finally, Morgan Stanley increased their price objective on Edwards Lifesciences from $75.00 to $81.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 15th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Edwards Lifesciences currently has a consensus rating of "Moderate Buy" and an average target price of $85.00.

Edwards Lifesciences Price Performance

EW traded up $4.12 during trading on Friday, reaching $79.92. 15,656,685 shares of the stock were exchanged, compared to its average volume of 3,810,979. The business's 50 day moving average price is $76.58 and its two-hundred day moving average price is $73.56. The company has a debt-to-equity ratio of 0.06, a current ratio of 4.45 and a quick ratio of 3.66. The company has a market capitalization of $46.88 billion, a price-to-earnings ratio of 11.50, a P/E/G ratio of 4.02 and a beta of 1.11. Edwards Lifesciences has a 1 year low of $59.41 and a 1 year high of $83.00.

Edwards Lifesciences (NYSE:EW - Get Free Report) last posted its earnings results on Thursday, July 24th. The medical research company reported $0.67 EPS for the quarter, topping analysts' consensus estimates of $0.62 by $0.05. The company had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.49 billion. Edwards Lifesciences had a return on equity of 15.25% and a net margin of 72.96%. Edwards Lifesciences's quarterly revenue was up 11.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.70 earnings per share. As a group, equities research analysts anticipate 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 firm's stock in a transaction dated 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 directly owned 41,098 shares in the company, valued at approximately $3,057,691.20. This trade represents a 21.49% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Donald E. Bobo, Jr. sold 2,570 shares of the firm's stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $77.40, for a total value of $198,918.00. Following the sale, the vice president owned 50,356 shares of the company's stock, valued at approximately $3,897,554.40. This trade represents a 4.86% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 30,848 shares of company stock worth $2,314,488. Insiders own 1.29% of the company's stock.

Institutional Investors Weigh In On Edwards Lifesciences

A number of hedge funds have recently bought and sold shares of the business. Norges Bank bought a new stake in shares of Edwards Lifesciences in the 4th quarter valued at approximately $610,895,000. Nuveen LLC bought a new stake in shares of Edwards Lifesciences in the 1st quarter valued at approximately $330,881,000. Jennison Associates LLC increased its holdings in shares of Edwards Lifesciences by 34.3% in the 1st quarter. Jennison Associates LLC now owns 10,086,033 shares of the medical research company's stock valued at $731,036,000 after acquiring an additional 2,576,383 shares during the last quarter. Marshall Wace LLP increased its holdings in shares of Edwards Lifesciences by 55.7% in the 4th quarter. Marshall Wace LLP now owns 5,813,419 shares of the medical research company's stock valued at $430,367,000 after acquiring an additional 2,079,642 shares during the last quarter. Finally, Wellington Management Group LLP increased its holdings in shares of Edwards Lifesciences by 5.3% in the 4th quarter. Wellington Management Group LLP now owns 33,210,879 shares of the medical research company's stock valued at $2,458,601,000 after acquiring an additional 1,678,154 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.