Edwards Lifesciences (NYSE:EW) Downgraded to Strong Sell Rating by Wolfe Research

Wolfe Research cut shares of Edwards Lifesciences (NYSE:EW) from a hold rating to a strong sell rating in a report released on Wednesday,Zacks.com reports.

Several other analysts also recently weighed in on EW. The Goldman Sachs Group raised their target price on Edwards Lifesciences from $81.00 to $90.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Royal Bank of Canada restated an “outperform” rating and set a $85.00 price objective on shares of Edwards Lifesciences in a research note on Wednesday. Piper Sandler upped their target price on Edwards Lifesciences from $70.00 to $73.00 and gave the company a “neutral” rating in a research report on Wednesday. Sanford C. Bernstein raised shares of Edwards Lifesciences from a “strong sell” rating to a “hold” rating in a research report on Monday, October 28th. Finally, Evercore ISI dropped their price target on shares of Edwards Lifesciences from $75.00 to $73.00 and set an “in-line” rating for the company in a research note on Wednesday. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, Edwards Lifesciences has an average rating of “Hold” and an average price target of $79.95.

Edwards Lifesciences Stock Performance

Shares of NYSE:EW opened at $75.96 on Wednesday. The company has a market cap of $44.80 billion, a P/E ratio of 10.96, a PEG ratio of 3.64 and a beta of 1.10. Edwards Lifesciences has a one year low of $58.93 and a one year high of $96.12. The business’s 50-day simple moving average is $72.51 and its 200 day simple moving average is $69.36. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.89 and a current ratio of 3.46.

Edwards Lifesciences (NYSE:EW) last posted its quarterly earnings data on Tuesday, February 11th. The medical research company reported $0.59 earnings per share (EPS) for the quarter, beating 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, sell-side analysts forecast that Edwards Lifesciences will post 2.56 earnings per share for the current fiscal year.

Insider Buying and Selling at Edwards Lifesciences

In other news, VP Daniel J. Lippis sold 500 shares of the firm’s stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $68.76, for a total transaction of $34,380.00. Following 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Scott B. Ullem sold 11,250 shares of the stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $75.76, for a total transaction of $852,300.00. Following the completion of the transaction, the chief financial officer now owns 30,561 shares of the company’s stock, valued at $2,315,301.36. This represents a 26.91 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 20,750 shares of company stock worth $1,564,255. 1.29% of the stock is owned by company insiders.

Institutional Investors Weigh In On Edwards Lifesciences

Institutional investors and hedge funds have recently bought and sold shares of the business. Crowley Wealth Management Inc. purchased a new position in Edwards Lifesciences in the fourth quarter valued at about $26,000. Millstone Evans Group LLC bought a new position in Edwards Lifesciences during the fourth quarter valued at approximately $29,000. FSA Wealth Management LLC bought a new position in Edwards Lifesciences during the third quarter valued at approximately $30,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Edwards Lifesciences in the fourth quarter valued at approximately $30,000. Finally, Prospera Private Wealth LLC acquired a new position in shares of Edwards Lifesciences during the 3rd quarter worth $32,000. 79.46% of the stock is owned by institutional investors and hedge funds.

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.