JPMorgan Chase & Co. Boosts Edwards Lifesciences (NYSE:EW) Price Target to $85.00

Key Points

• JPMorgan Chase & Co. has raised its price target for Edwards Lifesciences from $80.00 to $85.00, indicating a potential upside of 6.36% from its current price.
• Multiple analysts have also increased their targets for Edwards Lifesciences, with prices now ranging up to $95.00, reflecting strong investor sentiment.
• Edwards Lifesciences reported $1.53 billion in revenue for the last quarter, surpassing estimates and showing an 11.9% year-over-year growth.

Edwards Lifesciences (NYSE:EW - Get Free Report) had its price objective upped by stock analysts at JPMorgan Chase & Co. from $80.00 to $85.00 in a research note issued on Friday,Benzinga reports. The firm presently has a "neutral" rating on the medical research company's stock. JPMorgan Chase & Co.'s target price indicates a potential upside of 6.36% from the company's current price.

A number of other research analysts have also issued reports on EW. Wells Fargo & Company increased their target price on shares of Edwards Lifesciences from $80.00 to $84.00 and gave the stock an "overweight" rating in a research report on Friday. Argus upgraded shares of Edwards Lifesciences to a "strong-buy" rating in a research report on Thursday, July 10th. Mizuho increased their target price on shares of Edwards Lifesciences from $87.00 to $95.00 and gave the stock an "outperform" rating in a research report on Friday. Evercore ISI increased their target price on shares of Edwards Lifesciences from $77.00 to $80.00 and gave the stock an "in-line" rating in a research report on Friday. Finally, Piper Sandler increased their target price on shares of Edwards Lifesciences from $83.00 to $90.00 and gave the stock an "overweight" rating in a research report on Friday. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $84.29.

Edwards Lifesciences Stock Up 5.4%

Shares of Edwards Lifesciences stock traded up $4.12 during trading hours on Friday, reaching $79.92. 15,656,685 shares of the company's stock were exchanged, compared to its average volume of 4,565,388. The company has a 50 day moving average of $76.54 and a two-hundred day moving average of $73.52. Edwards Lifesciences has a fifty-two week low of $59.41 and a fifty-two week high of $83.00. The company has a current ratio of 4.45, a quick ratio of 3.66 and a debt-to-equity ratio of 0.06. The stock has a market cap of $46.88 billion, a P/E ratio of 11.42, a P/E/G ratio of 3.86 and a beta of 1.11.

Edwards Lifesciences (NYSE:EW - Get Free Report) last posted its quarterly earnings data 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. 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 during the quarter, compared to the consensus estimate of $1.49 billion. During the same period in the prior year, the business posted $0.70 EPS. The company's quarterly revenue was up 11.9% on a year-over-year basis. On average, sell-side analysts forecast that Edwards Lifesciences will post 2.45 EPS for the current fiscal year.

Insider Transactions at Edwards Lifesciences

In related news, insider Larry L. Wood sold 8,950 shares of Edwards Lifesciences stock in a transaction on Monday, June 16th. The shares were sold at an average price of $75.23, for a total transaction of $673,308.50. Following the completion of the transaction, the insider owned 206,900 shares of the company's stock, valued at $15,565,087. This trade represents a 4.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Bernard J. Zovighian sold 5,980 shares of Edwards Lifesciences stock in a transaction on Monday, May 5th. The stock was sold at an average price of $74.91, for a total transaction of $447,961.80. Following the transaction, the chief executive officer directly owned 58,284 shares of the company's stock, valued at $4,366,054.44. This represents a 9.31% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 30,848 shares of company stock valued at $2,314,488. Corporate insiders own 1.29% of the company's stock.

Institutional Investors Weigh In On Edwards Lifesciences

A number of large investors have recently bought and sold shares of EW. Norges Bank acquired a new stake in Edwards Lifesciences in the fourth quarter worth $610,895,000. Nuveen LLC acquired a new stake in Edwards Lifesciences in the first quarter worth $330,881,000. Jennison Associates LLC grew its holdings in shares of Edwards Lifesciences by 34.3% during the first quarter. Jennison Associates LLC now owns 10,086,033 shares of the medical research company's stock valued at $731,036,000 after buying an additional 2,576,383 shares during the last quarter. Marshall Wace LLP grew its holdings in shares of Edwards Lifesciences by 55.7% during the fourth quarter. Marshall Wace LLP now owns 5,813,419 shares of the medical research company's stock valued at $430,367,000 after buying an additional 2,079,642 shares during the last quarter. Finally, Wellington Management Group LLP grew its holdings in shares of Edwards Lifesciences by 5.3% during the fourth 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 buying an additional 1,678,154 shares during the last quarter. 79.46% of the stock is currently 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.

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