Edwards Lifesciences (NYSE:EW) Stock Price Expected to Rise, Mizuho Analyst Says

Key Points

• Mizuho Securities raised the price target for Edwards Lifesciences from $87.00 to $95.00, indicating a potential upside of 20.49% from its current price with an "outperform" rating.
• Other brokerages such as Evercore ISI and Citigroup also increased their price targets for Edwards Lifesciences, with Citigroup setting a target at $95.00, up from $84.00.
• The company reported earnings of $0.67 per share for the last quarter, surpassing the consensus estimate of $0.62, along with a revenue of $1.53 billion, an 11.9% increase from the previous year.
• Institutional investors hold a significant majority of the company's shares, with ownership exceeding 79.46% following recent increases in stakes by firms like Norges Bank and Jennison Associates LLC.

Edwards Lifesciences (NYSE:EW - Get Free Report) had its price objective upped by stock analysts at Mizuho from $87.00 to $95.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has an "outperform" rating on the medical research company's stock. Mizuho's price objective would indicate a potential upside of 21.08% from the stock's current price.

Several other equities analysts have also issued reports on the company. Piper Sandler boosted their price target on Edwards Lifesciences from $83.00 to $90.00 and gave the company an "overweight" rating in a research note on Friday. Argus upgraded shares of Edwards Lifesciences to a "strong-buy" rating in a research report on Thursday, July 10th. Morgan Stanley increased their price objective on shares of Edwards Lifesciences from $75.00 to $81.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 15th. Royal Bank Of Canada raised their price objective on shares of Edwards Lifesciences from $85.00 to $89.00 and gave the stock an "outperform" rating in a research report on Friday. Finally, Stifel Nicolaus lifted their price objective on shares of Edwards Lifesciences from $90.00 to $95.00 and gave the company a "buy" rating in a research note on Friday. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Edwards Lifesciences presently has an average rating of "Moderate Buy" and an average price target of $85.00.

Edwards Lifesciences Price Performance

Shares of NYSE:EW traded down $1.54 on Friday, hitting $78.46. The company had a trading volume of 6,024,534 shares, compared to its average volume of 4,283,557. The company has a current ratio of 4.45, a quick ratio of 3.66 and a debt-to-equity ratio of 0.06. Edwards Lifesciences has a 52-week low of $59.41 and a 52-week high of $83.00. The business has a 50 day moving average of $76.58 and a 200 day moving average of $73.55. The company has a market cap of $46.02 billion, a PE ratio of 11.29, a PEG ratio of 4.00 and a beta of 1.11.

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, beating analysts' consensus estimates of $0.62 by $0.05. The firm had revenue of $1.53 billion during 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 revenue for the quarter was up 11.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.70 earnings per share. As a group, equities analysts anticipate that Edwards Lifesciences will post 2.45 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Larry L. Wood sold 8,950 shares of the stock in a transaction on Monday, June 16th. The stock was sold at an average price of $75.23, for a total value of $673,308.50. Following the completion of the transaction, the insider directly owned 206,900 shares in the company, valued at approximately $15,565,087. This represents a 4.15% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Scott B. Ullem sold 11,250 shares of the firm's stock in a transaction on Friday, May 9th. The stock was sold at an average price of $74.40, for a total value of $837,000.00. Following the transaction, the chief financial officer directly owned 41,098 shares of the company's stock, valued at approximately $3,057,691.20. This represents a 21.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 34,962 shares of company stock worth $2,641,387 over the last three months. Insiders own 0.34% of the company's stock.

Institutional Investors Weigh In On Edwards Lifesciences

Hedge funds and other institutional investors have recently bought and sold shares of the business. Rosenberg Matthew Hamilton purchased a new position in shares of Edwards Lifesciences during the 2nd quarter worth $28,000. Vega Investment Solutions purchased a new position in shares of Edwards Lifesciences in the fourth quarter worth $27,000. Quantbot Technologies LP purchased a new position in shares of Edwards Lifesciences during the first quarter worth $26,000. SouthState Corp acquired a new stake in Edwards Lifesciences during the first quarter valued at $27,000. Finally, Rossby Financial LCC acquired a new stake in shares of Edwards Lifesciences in the first quarter valued at about $29,000. Institutional investors own 79.46% of the company's stock.

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.