Wells Fargo & Company Boosts Edwards Lifesciences (NYSE:EW) Price Target to $84.00

Key Points

• Wells Fargo & Company has increased its price target for Edwards Lifesciences from $80.00 to $84.00, suggesting a potential upside of 7.53% from its previous close.
• Mizuho has also raised its target for the stock to $87.00, indicating a general positive sentiment among multiple analysts, with a consensus rating of "Hold".
• Edwards Lifesciences reported an earnings per share (EPS) of $0.67, exceeding estimates and showing an 11.9% revenue increase year-over-year.
• Insider transactions revealed notable sales, with CFO Scott B. Ullem selling 11,250 shares, decreasing his position by 21.49%.

Edwards Lifesciences (NYSE:EW - Get Free Report) had its price target boosted by stock analysts at Wells Fargo & Company from $80.00 to $84.00 in a report issued on Friday,Benzinga reports. The firm presently has an "overweight" rating on the medical research company's stock. Wells Fargo & Company's target price would indicate a potential upside of 5.11% from the company's previous close.

Other equities analysts also recently issued research reports about the company. Morgan Stanley increased their price objective on Edwards Lifesciences from $75.00 to $81.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 15th. Evercore ISI increased their price objective on Edwards Lifesciences from $77.00 to $80.00 and gave the stock an "in-line" rating in a report on Friday. Argus raised Edwards Lifesciences to a "strong-buy" rating in a research note on Thursday, July 10th. Citigroup reissued 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. Finally, Robert W. Baird raised their price objective on Edwards Lifesciences from $78.00 to $79.00 and gave the company a "neutral" rating in a research note on Friday. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $85.00.

Edwards Lifesciences Stock Up 5.4%

Edwards Lifesciences stock traded up $4.12 during mid-day trading on Friday, hitting $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 firm's 50 day moving average is $76.58 and its 200 day moving average is $73.56. The company has a market cap of $46.88 billion, a PE ratio of 11.50, a price-to-earnings-growth ratio of 4.02 and a beta of 1.11. The company has a debt-to-equity ratio of 0.06, a current ratio of 4.45 and a quick ratio of 3.66. Edwards Lifesciences has a 52-week low of $59.41 and a 52-week high of $83.00.

Edwards Lifesciences (NYSE:EW - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The medical research company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.05. Edwards Lifesciences had a return on equity of 15.25% and a net margin of 72.96%. The business had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.49 billion. During the same period in the previous year, the company earned $0.70 EPS. The firm's revenue was up 11.9% on a year-over-year basis. On average, analysts anticipate that Edwards Lifesciences will post 2.45 earnings per share for the current year.

Insider Transactions at Edwards Lifesciences

In other news, VP Donald E. Bobo, Jr. sold 2,570 shares of the business's stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $77.40, for a total transaction of $198,918.00. Following the completion of the sale, the vice president owned 50,356 shares in the company, valued at $3,897,554.40. The trade was a 4.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Bernard J. Zovighian sold 5,980 shares of the business's stock in a transaction on Monday, May 5th. The stock was sold at an average price of $74.91, for a total value of $447,961.80. Following the sale, the chief executive officer owned 58,284 shares of the company's stock, valued at approximately $4,366,054.44. The trade was a 9.31% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 30,848 shares of company stock worth $2,314,488. 1.29% of the stock is owned by company insiders.

Institutional Investors Weigh In On Edwards Lifesciences

Institutional investors and hedge funds have recently made changes to their positions in the company. Vega Investment Solutions bought a new stake in Edwards Lifesciences in the fourth quarter valued at about $27,000. Quantbot Technologies LP bought a new stake in Edwards Lifesciences in the first quarter valued at about $26,000. SouthState Corp bought a new stake in Edwards Lifesciences in the first quarter valued at about $27,000. Rossby Financial LCC bought a new stake in Edwards Lifesciences in the first quarter valued at about $29,000. Finally, Costello Asset Management INC bought a new stake in Edwards Lifesciences in the first quarter valued at about $29,000. 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.