Truist Financial Forecasts Strong Price Appreciation for Edwards Lifesciences (NYSE:EW) Stock

Key Points

• Truist Financial raised its price target for Edwards Lifesciences from $81.00 to $82.00, reflecting a potential upside of 2.75% based on the stock's previous close.
• Multiple analysts have recently upgraded their ratings and price targets for Edwards Lifesciences, with Citigroup setting a new target at $95.00 and Deutsche Bank increasing theirs to $94.00.
• Edwards Lifesciences reported earnings of $0.67 per share for the last quarter, exceeding analysts' expectations, with revenues of $1.53 billion—an 11.9% increase year-over-year.
• Institutional investors own a significant 79.46% of Edwards Lifesciences' stock, indicating strong support and confidence in the company among major investors.

Edwards Lifesciences (NYSE:EW - Get Free Report) had its price target raised by equities research analysts at Truist Financial from $81.00 to $82.00 in a report released on Friday,Benzinga reports. The brokerage presently has a "hold" rating on the medical research company's stock. Truist Financial's price target would indicate a potential upside of 2.75% from the stock's previous close.

EW has been the topic of several other reports. Citigroup reiterated a "buy" rating and set a $95.00 target price (up from $84.00) on shares of Edwards Lifesciences in a report on Thursday, May 22nd. Barclays upped their price objective on Edwards Lifesciences from $90.00 to $95.00 and gave the stock an "overweight" rating in a report on Friday. Evercore ISI boosted their price target on Edwards Lifesciences from $77.00 to $80.00 and gave the stock an "in-line" rating in a research report on Friday. Wells Fargo & Company raised their target price on Edwards Lifesciences from $80.00 to $84.00 and gave the company an "overweight" rating in a research note on Friday. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on Edwards Lifesciences from $85.00 to $94.00 and gave the stock a "buy" rating in a research report on Friday. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $83.29.

Edwards Lifesciences Trading Up 5.3%

Shares of EW traded up $4.01 during trading hours on Friday, reaching $79.81. The stock had a trading volume of 6,227,020 shares, compared to its average volume of 4,494,824. Edwards Lifesciences has a 52 week low of $59.41 and a 52 week high of $83.00. The company has a market cap of $46.81 billion, a P/E ratio of 11.46, a P/E/G ratio of 3.86 and a beta of 1.11. The firm has a 50-day moving average of $76.54 and a 200 day moving average of $73.52. The company has a quick ratio of 3.66, a current ratio of 4.45 and a debt-to-equity ratio of 0.06.

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, topping analysts' consensus estimates of $0.62 by $0.05. The firm had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.49 billion. Edwards Lifesciences had a net margin of 75.48% and a return on equity of 16.62%. The business's revenue for the quarter was up 11.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.70 EPS. On average, sell-side analysts expect that Edwards Lifesciences will post 2.45 earnings per share for the current fiscal year.

Insider Transactions at Edwards Lifesciences

In related news, VP Daveen Chopra sold 1,500 shares of the stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $75.08, for a total transaction of $112,620.00. Following the sale, the vice president directly owned 33,496 shares in the company, valued at $2,514,879.68. This represents a 4.29% decrease in their position. The transaction was disclosed in a legal 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 firm's stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $77.40, for a total value of $198,918.00. Following the sale, the vice president directly owned 50,356 shares in the company, valued at $3,897,554.40. The trade was a 4.86% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 30,848 shares of company stock valued at $2,314,488 in the last three months. Insiders own 1.29% of the company's stock.

Hedge Funds Weigh In On Edwards Lifesciences

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