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

Key Points

• Evercore ISI has increased its price target for Edwards Lifesciences from $77.00 to $80.00, indicating a potential upside of 2.17% from the previous close.
• Other analysts also revised their targets, with Morgan Stanley raising theirs to $81.00 and Piper Sandler adjusting theirs to $83.00, while the consensus target price now stands at $81.76.
• Edwards Lifesciences recently reported quarterly earnings of $0.67 EPS, surpassing expectations, with a net revenue of $1.53 billion, which represents an 11.9% increase from the previous year.
• Insider transactions included VP Daveen Chopra and CEO Bernard Zovighian selling shares of the company, leading to a 4.29% and 9.31% decrease in their ownership, respectively.

Edwards Lifesciences (NYSE:EW - Get Free Report) had its price target upped by equities researchers at Evercore ISI from $77.00 to $80.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has an "in-line" rating on the medical research company's stock. Evercore ISI's price target would indicate a potential upside of 2.17% from the company's previous close.

Other analysts have also recently issued research reports about the company. Morgan Stanley lifted their target price on Edwards Lifesciences from $75.00 to $81.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 15th. Truist Financial reduced their price target on shares of Edwards Lifesciences from $78.00 to $75.00 and set a "hold" rating for the company in a research report on Friday, April 11th. Piper Sandler boosted their price objective on shares of Edwards Lifesciences from $80.00 to $83.00 and gave the company an "overweight" rating in a research note on Tuesday, May 13th. Dbs Bank raised shares of Edwards Lifesciences to a "hold" rating in a research note on Monday, June 2nd. Finally, Mizuho boosted their price objective on shares of Edwards Lifesciences from $85.00 to $87.00 and gave the company an "outperform" rating in a research note on Wednesday, July 16th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $81.76.

Edwards Lifesciences Stock Up 3.3%

Edwards Lifesciences stock traded up $2.50 during mid-day trading on Friday, reaching $78.30. 2,667,385 shares of the company's stock were exchanged, compared to its average volume of 4,462,686. The company has a market cap of $45.93 billion, a P/E ratio of 11.22, a P/E/G ratio of 3.86 and a beta of 1.11. Edwards Lifesciences has a twelve month low of $59.41 and a twelve month high of $83.00. The company has a quick ratio of 3.66, a current ratio of 4.45 and a debt-to-equity ratio of 0.06. The company has a fifty day moving average of $76.54 and a 200-day moving average of $73.52.

Edwards Lifesciences (NYSE:EW - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The medical research company reported $0.67 EPS for the quarter, beating analysts' consensus estimates of $0.62 by $0.05. Edwards Lifesciences had a net margin of 75.48% and a return on equity of 16.62%. The company had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.49 billion. During the same period in the prior year, the firm posted $0.70 EPS. The company's quarterly revenue was up 11.9% compared to the same quarter last year. Sell-side analysts expect that Edwards Lifesciences will post 2.45 EPS for the current year.

Insider Transactions at Edwards Lifesciences

In other Edwards Lifesciences news, VP Daveen Chopra sold 1,500 shares of the firm's stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $75.08, for a total transaction of $112,620.00. Following the transaction, the vice president owned 33,496 shares in the company, valued at approximately $2,514,879.68. This trade represents a 4.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Bernard J. Zovighian sold 5,980 shares of the firm's stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $74.91, for a total value of $447,961.80. Following the transaction, the chief executive officer owned 58,284 shares in the company, valued at approximately $4,366,054.44. This trade represents a 9.31% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 30,848 shares of company stock valued at $2,314,488. 1.29% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

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

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