Edwards Lifesciences (NYSE:EW) Price Target Cut to $89.00 by Analysts at Evercore ISI

Edwards Lifesciences (NYSE:EW) had its price target trimmed by Evercore ISI from $92.00 to $89.00 in a research report sent to investors on Friday, Benzinga reports. The firm currently has an in-line rating on the medical research company’s stock.

Several other research analysts have also commented on the stock. StockNews.com lowered shares of Edwards Lifesciences from a buy rating to a hold rating in a report on Wednesday, March 20th. Wells Fargo & Company upgraded shares of Edwards Lifesciences from an equal weight rating to an overweight rating and set a $94.00 price target on the stock in a report on Friday, February 2nd. Stifel Nicolaus increased their price objective on shares of Edwards Lifesciences from $83.00 to $85.00 and gave the company a hold rating in a research report on Friday. Royal Bank of Canada increased their price objective on shares of Edwards Lifesciences from $95.00 to $101.00 and gave the company an outperform rating in a research report on Monday, April 15th. Finally, Bank of America raised shares of Edwards Lifesciences from a neutral rating to a buy rating in a research report on Thursday, March 7th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of Moderate Buy and an average target price of $93.33.

Edwards Lifesciences Price Performance

NYSE:EW opened at $86.43 on Friday. The firm has a market cap of $52.02 billion, a price-to-earnings ratio of 37.25, a price-to-earnings-growth ratio of 4.36 and a beta of 1.05. Edwards Lifesciences has a 12-month low of $60.57 and a 12-month high of $96.12. The company has a current ratio of 3.38, a quick ratio of 2.40 and a debt-to-equity ratio of 0.09. The company’s 50-day moving average is $90.28 and its two-hundred day moving average is $78.85.

Edwards Lifesciences (NYSE:EW) last posted its quarterly earnings results 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 23.01% and a return on equity of 23.34%. The firm had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.58 billion. Research analysts expect that Edwards Lifesciences will post 2.76 EPS for the current year.

Insider Transactions at Edwards Lifesciences

In related news, VP Catherine M. Szyman sold 27,000 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $85.62, for a total transaction of $2,311,740.00. Following the completion of the transaction, the vice president now owns 34,814 shares in the company, valued at approximately $2,980,774.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Michael A. Mussallem sold 29,350 shares of the stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $86.67, for a total value of $2,543,764.50. Following the completion of the transaction, the director now directly owns 4,486 shares of the company’s stock, valued at approximately $388,801.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Catherine M. Szyman sold 27,000 shares of Edwards Lifesciences stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $85.62, for a total value of $2,311,740.00. Following the sale, the vice president now directly owns 34,814 shares in the company, valued at approximately $2,980,774.68. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 194,004 shares of company stock worth $17,166,254. 1.29% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Edwards Lifesciences

A number of institutional investors and hedge funds have recently modified their holdings of EW. Norges Bank acquired a new stake in shares of Edwards Lifesciences during the fourth quarter worth $648,540,000. Brown Advisory Inc. raised its position in shares of Edwards Lifesciences by 20.1% during the fourth quarter. Brown Advisory Inc. now owns 18,181,420 shares of the medical research company’s stock worth $1,386,333,000 after purchasing an additional 3,048,274 shares during the period. WELLCOME TRUST LTD THE as trustee of the WELLCOME TRUST raised its position in shares of Edwards Lifesciences by 440.0% during the third quarter. WELLCOME TRUST LTD THE as trustee of the WELLCOME TRUST now owns 3,510,000 shares of the medical research company’s stock worth $243,173,000 after purchasing an additional 2,860,000 shares during the period. CIBC Private Wealth Group LLC grew its holdings in shares of Edwards Lifesciences by 197.0% during the fourth quarter. CIBC Private Wealth Group LLC now owns 3,446,758 shares of the medical research company’s stock valued at $262,815,000 after buying an additional 2,286,119 shares in the last quarter. Finally, AustralianSuper Pty Ltd purchased a new position in shares of Edwards Lifesciences during the fourth quarter valued at $168,519,000. 79.46% of the stock is owned by institutional investors and hedge funds.

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.