Edwards Lifesciences (NYSE:EW) Price Target Lowered to $89.00 at Evercore ISI

Edwards Lifesciences (NYSE:EW - Get Free Report) had its target price dropped by stock analysts at Evercore ISI from $92.00 to $89.00 in a research report issued 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 2.97% from the company's previous close.

Other analysts have also issued reports about the stock. Royal Bank of Canada boosted their price target on shares of Edwards Lifesciences from $95.00 to $101.00 and gave the stock an "outperform" rating in a research note on Monday, April 15th. Piper Sandler upped their price target on Edwards Lifesciences from $85.00 to $88.00 and gave the company a "neutral" rating in a report on Friday. Morgan Stanley upped their price target on Edwards Lifesciences from $95.00 to $103.00 and gave the stock an "overweight" rating in a research note on Thursday, March 21st. Oppenheimer upped their price target on Edwards Lifesciences from $93.00 to $100.00 and gave the stock an "outperform" rating in a research note on Monday, March 18th. Finally, OTR Global upgraded Edwards Lifesciences from a "mixed" rating to a "positive" rating in a research report on Tuesday, March 26th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $93.33.

Edwards Lifesciences Stock Down 1.8 %

Edwards Lifesciences stock traded down $1.58 during midday trading on Friday, hitting $86.43. 4,960,142 shares of the company's stock were exchanged, compared to its average volume of 3,844,076. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.40 and a current ratio of 3.38. Edwards Lifesciences has a 12 month low of $60.57 and a 12 month high of $96.12. The firm has a 50-day moving average of $90.27 and a two-hundred day moving average of $78.76. The company has a market cap of $52.02 billion, a PE ratio of 37.61, a P/E/G ratio of 4.39 and a beta of 1.05.

Edwards Lifesciences (NYSE:EW - Get Free Report) last announced its quarterly earnings data on Thursday, April 25th. The medical research company reported $0.66 EPS for the quarter, beating the consensus estimate of $0.64 by $0.02. Edwards Lifesciences had a net margin of 23.35% and a return on equity of 23.56%. The firm had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.58 billion. As a group, analysts expect that Edwards Lifesciences will post 2.76 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Edwards Lifesciences news, CFO Scott B. Ullem sold 7,255 shares of the company's stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $78.29, for a total transaction of $567,993.95. Following the completion of the sale, the chief financial officer now directly owns 19,248 shares in the company, valued at $1,506,925.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, VP Donald E. Bobo, Jr. sold 11,000 shares of the business's stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $85.83, for a total value of $944,130.00. Following the transaction, the vice president now owns 39,503 shares in the company, valued at approximately $3,390,542.49. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Scott B. Ullem sold 7,255 shares of Edwards Lifesciences stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $78.29, for a total transaction of $567,993.95. Following the completion of the sale, the chief financial officer now directly owns 19,248 shares in the company, valued at approximately $1,506,925.92. The disclosure for this sale can be found here. Insiders have sold a total of 194,004 shares of company stock valued at $17,166,254 over the last 90 days. 1.29% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. DSM Capital Partners LLC bought a new position in Edwards Lifesciences in the fourth quarter worth about $28,000. Turtle Creek Wealth Advisors LLC purchased a new position in shares of Edwards Lifesciences during the 4th quarter worth $34,000. Riverview Trust Co bought a new stake in shares of Edwards Lifesciences during the 1st quarter valued at $34,000. Pingora Partners LLC bought a new stake in shares of Edwards Lifesciences during the 4th quarter valued at $38,000. Finally, Operose Advisors LLC raised its position in shares of Edwards Lifesciences by 247.0% during the 3rd quarter. Operose Advisors LLC now owns 635 shares of the medical research company's stock valued at $44,000 after purchasing an additional 452 shares during the period. 79.46% of the stock is currently owned by hedge funds and other institutional investors.

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.