Evercore ISI Lowers Edwards Lifesciences (NYSE:EW) Price Target to $73.00

Edwards Lifesciences (NYSE:EW) had its price target decreased by stock analysts at Evercore ISI from $75.00 to $73.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “in-line” rating on the medical research company’s stock. Evercore ISI’s target price indicates a potential upside of 2.89% from the company’s previous close.

Other equities research analysts have also recently issued research reports about the company. Truist Financial reaffirmed a “hold” rating and set a $78.00 target price (up previously from $70.00) on shares of Edwards Lifesciences in a research note on Thursday, December 5th. JPMorgan Chase & Co. boosted their price objective on Edwards Lifesciences from $72.00 to $78.00 and gave the company a “neutral” rating in a report on Friday, October 25th. The Goldman Sachs Group increased their target price on Edwards Lifesciences from $81.00 to $90.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. Royal Bank of Canada boosted their price target on shares of Edwards Lifesciences from $80.00 to $85.00 and gave the company an “outperform” rating in a research note on Thursday, December 5th. Finally, Bank of America raised shares of Edwards Lifesciences from a “neutral” rating to a “buy” rating and raised their price objective for the company from $82.00 to $90.00 in a research note on Monday, December 16th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $79.57.

Edwards Lifesciences Trading Down 0.2 %

Shares of EW stock opened at $70.95 on Wednesday. The stock has a 50-day moving average of $72.47 and a 200-day moving average of $69.32. The company has a current ratio of 3.46, a quick ratio of 2.89 and a debt-to-equity ratio of 0.06. The stock has a market cap of $41.85 billion, a price-to-earnings ratio of 10.24, a PEG ratio of 3.64 and a beta of 1.10. Edwards Lifesciences has a 1-year low of $58.93 and a 1-year high of $96.12.

Edwards Lifesciences (NYSE:EW) last issued its quarterly earnings results on Tuesday, February 11th. The medical research company reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.55 by $0.04. Edwards Lifesciences had a net margin of 70.82% and a return on equity of 20.76%. On average, equities research analysts forecast that Edwards Lifesciences will post 2.56 earnings per share for the current year.

Insider Activity at Edwards Lifesciences

In related news, VP Daniel J. Lippis sold 500 shares of the firm’s stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $68.76, for a total value of $34,380.00. Following the completion of the transaction, the vice president now directly owns 23,189 shares of the company’s stock, valued at approximately $1,594,475.64. This trade represents a 2.11 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.29% of the stock is owned by company insiders.

Hedge Funds Weigh In On Edwards Lifesciences

Several hedge funds have recently bought and sold shares of the company. Abacus Planning Group Inc. boosted its position in shares of Edwards Lifesciences by 0.3% during the 4th quarter. Abacus Planning Group Inc. now owns 40,207 shares of the medical research company’s stock valued at $2,977,000 after acquiring an additional 140 shares during the last quarter. Bowman & Co S.C. raised its stake in Edwards Lifesciences by 1.2% in the fourth quarter. Bowman & Co S.C. now owns 12,487 shares of the medical research company’s stock valued at $924,000 after purchasing an additional 148 shares in the last quarter. Moors & Cabot Inc. lifted its position in Edwards Lifesciences by 0.3% during the fourth quarter. Moors & Cabot Inc. now owns 54,589 shares of the medical research company’s stock valued at $4,041,000 after purchasing an additional 152 shares during the last quarter. Pegasus Asset Management Inc. grew its stake in Edwards Lifesciences by 0.4% in the 4th quarter. Pegasus Asset Management Inc. now owns 42,628 shares of the medical research company’s stock worth $3,156,000 after buying an additional 159 shares in the last quarter. Finally, Mount Yale Investment Advisors LLC increased its holdings in shares of Edwards Lifesciences by 1.9% in the 4th quarter. Mount Yale Investment Advisors LLC now owns 8,563 shares of the medical research company’s stock worth $634,000 after buying an additional 162 shares during the last quarter. Hedge funds and other institutional investors 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.