Edwards Lifesciences (NYSE:EW) Price Target Raised to $89.00 at Royal Bank Of Canada

Key Points

• Royal Bank of Canada raised its price target for Edwards Lifesciences from $85.00 to $89.00, indicating a potential upside of 13.93% from its current price.
• A consensus of analysts has issued a rating of "Hold" for Edwards Lifesciences, with a wide range of price targets from $71.00 to $95.00.
• The company's recent earnings report showed $1.53 billion in revenue, surpassing expectations and reflecting a year-over-year increase of 11.9%.
• Insider selling activity has been noted, with a total of 30,848 shares sold over the last quarter, indicating potential shifts in ownership and market confidence.

Edwards Lifesciences (NYSE:EW - Get Free Report) had its target price raised by investment analysts at Royal Bank Of Canada from $85.00 to $89.00 in a report released on Friday,Benzinga reports. The brokerage currently has an "outperform" rating on the medical research company's stock. Royal Bank Of Canada's price objective would indicate a potential upside of 11.37% from the company's previous close.

A number of other brokerages have also recently weighed in on EW. Truist Financial reduced their price objective on shares of Edwards Lifesciences from $78.00 to $75.00 and set a "hold" rating for the company in a research note on Friday, April 11th. Morgan Stanley boosted 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. Citigroup restated a "buy" rating and issued a $95.00 price objective (up from $84.00) on shares of Edwards Lifesciences in a research note on Thursday, May 22nd. Evercore ISI boosted their price objective on shares of Edwards Lifesciences from $77.00 to $80.00 and gave the stock an "in-line" rating in a research note on Friday. Finally, Mizuho boosted their target price on shares of Edwards Lifesciences from $85.00 to $87.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 16th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Edwards Lifesciences has an average rating of "Moderate Buy" and an average price target of $85.00.

Edwards Lifesciences Stock Up 5.4%

NYSE EW traded up $4.12 during trading on Friday, reaching $79.92. The company's stock had a trading volume of 15,656,685 shares, compared to its average volume of 3,810,979. 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 capitalization of $46.88 billion, a PE ratio of 11.50, a PEG ratio of 4.02 and a beta of 1.11. The business has a 50-day moving average price of $76.58 and a 200-day moving average price of $73.56. 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 earnings per share (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 analysts' expectations of $1.49 billion. Edwards Lifesciences had a net margin of 72.96% and a return on equity of 15.25%. The company's revenue was up 11.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.70 earnings per share. On average, research analysts forecast that Edwards Lifesciences will post 2.45 earnings per share for the current fiscal year.

Insider Buying and Selling at Edwards Lifesciences

In related news, CEO Bernard J. Zovighian sold 5,980 shares of the company's stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $74.91, for a total transaction of $447,961.80. Following the transaction, the chief executive officer owned 58,284 shares in the company, valued at $4,366,054.44. This represents a 9.31% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Donald E. Bobo, Jr. sold 2,570 shares of the company's stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $77.40, for a total transaction of $198,918.00. Following the transaction, the vice president owned 50,356 shares in the company, 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. Insiders have sold 30,848 shares of company stock worth $2,314,488 over the last quarter. Corporate insiders own 1.29% of the company's stock.

Institutional Inflows and Outflows

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