Edwards Lifesciences (NYSE:EW) PT Raised to $85.00

Edwards Lifesciences (NYSE:EW) had its price target lifted by Stifel Nicolaus from $83.00 to $85.00 in a research note released on Friday morning, Benzinga reports. They currently have a hold rating on the medical research company’s stock.

Several other brokerages also recently commented on EW. Royal Bank of Canada lifted their target price on shares of Edwards Lifesciences from $95.00 to $101.00 and gave the stock an outperform rating in a report on Monday, April 15th. Citigroup lifted their price objective on Edwards Lifesciences from $90.00 to $98.00 and gave the stock a neutral rating in a research note on Wednesday, April 3rd. OTR Global upgraded Edwards Lifesciences from a mixed rating to a positive rating in a research note on Tuesday, March 26th. Bank of America raised Edwards Lifesciences from a neutral rating to a buy rating in a report on Thursday, March 7th. Finally, Oppenheimer upped their price target on Edwards Lifesciences from $93.00 to $100.00 and gave the stock an outperform rating in a report on Monday, March 18th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus target price of $92.71.

Edwards Lifesciences Stock Performance

Shares of NYSE EW opened at $85.95 on Friday. The business’s 50-day simple moving average is $90.27 and its 200-day simple moving average is $79.06. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.67 and a current ratio of 3.75. Edwards Lifesciences has a 52 week low of $60.57 and a 52 week high of $96.12. The firm has a market cap of $51.74 billion, a price-to-earnings ratio of 37.05, a P/E/G ratio of 4.28 and a beta of 1.05.

Edwards Lifesciences (NYSE:EW) last announced 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 return on equity of 22.86% and a net margin of 23.01%. The company had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.58 billion. As a group, equities research analysts expect that Edwards Lifesciences will post 2.76 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Scott B. Ullem sold 7,255 shares of the company’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $78.29, for a total value of $567,993.95. Following the sale, the chief financial officer now owns 19,248 shares of the company’s stock, valued at $1,506,925.92. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CFO Scott B. Ullem sold 7,255 shares of the firm’s 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 transaction, the chief financial officer now owns 19,248 shares in the company, valued at approximately $1,506,925.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Donald E. Bobo, Jr. sold 11,000 shares of the company’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $85.83, for a total value of $944,130.00. Following the completion of the sale, the vice president now owns 39,503 shares in the company, valued at $3,390,542.49. The disclosure for this sale can be found here. Insiders have sold 194,004 shares of company stock worth $17,166,254 over the last 90 days. Corporate insiders own 1.27% of the company’s stock.

Institutional Investors Weigh In On Edwards Lifesciences

A number of hedge funds have recently made changes to their positions in the company. Nordea Investment Management AB raised its position in Edwards Lifesciences by 1,224.1% in the 4th quarter. Nordea Investment Management AB now owns 1,610,412 shares of the medical research company’s stock valued at $123,261,000 after purchasing an additional 1,488,791 shares during the last quarter. Telos Capital Management Inc. raised its holdings in shares of Edwards Lifesciences by 158.2% in the fourth quarter. Telos Capital Management Inc. now owns 91,405 shares of the medical research company’s stock valued at $6,970,000 after buying an additional 56,000 shares during the last quarter. Arlington Trust Co LLC lifted its position in Edwards Lifesciences by 5,092.4% during the 4th quarter. Arlington Trust Co LLC now owns 12,306 shares of the medical research company’s stock worth $938,000 after buying an additional 12,069 shares in the last quarter. Versor Investments LP grew its holdings in Edwards Lifesciences by 83.3% during the 3rd quarter. Versor Investments LP now owns 4,496 shares of the medical research company’s stock worth $311,000 after acquiring an additional 2,043 shares during the last quarter. Finally, HealthInvest Partners AB acquired a new stake in Edwards Lifesciences in the 4th quarter valued at about $1,587,000. 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.