Edwards Lifesciences (NYSE:EW) Earns “Outperform” Rating from Royal Bank of Canada

Edwards Lifesciences (NYSE:EW)‘s stock had its “outperform” rating reissued by equities research analysts at Royal Bank of Canada in a report released on Wednesday,Benzinga reports. They currently have a $85.00 price target on the medical research company’s stock. Royal Bank of Canada’s price objective would suggest a potential upside of 11.91% from the company’s current price.

Several other research analysts have also commented on EW. Barclays upped their price objective on shares of Edwards Lifesciences from $85.00 to $88.00 and gave the stock an “overweight” rating in a report on Monday, December 2nd. Evercore ISI decreased their price objective on shares of Edwards Lifesciences from $75.00 to $73.00 and set an “in-line” rating for the company in a report on Wednesday. Canaccord Genuity Group upped their price objective on shares of Edwards Lifesciences from $63.00 to $68.00 and gave the stock a “hold” rating in a report on Thursday, December 5th. Truist Financial restated a “hold” rating and issued a $78.00 price objective (up from $70.00) on shares of Edwards Lifesciences in a report on Thursday, December 5th. Finally, Morgan Stanley increased their price target on shares of Edwards Lifesciences from $70.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, Edwards Lifesciences currently has a consensus rating of “Hold” and an average target price of $79.95.

Edwards Lifesciences Trading Up 0.2 %

NYSE:EW opened at $75.96 on Wednesday. The company has a fifty day moving average of $72.51 and a 200 day moving average of $69.36. Edwards Lifesciences has a 52 week low of $58.93 and a 52 week high of $96.12. The company has a quick ratio of 2.89, a current ratio of 3.46 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $44.80 billion, a P/E ratio of 10.96, a P/E/G ratio of 3.64 and a beta of 1.10.

Edwards Lifesciences (NYSE:EW) last posted its quarterly earnings results on Tuesday, February 11th. The medical research company reported $0.59 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, research analysts predict that Edwards Lifesciences will post 2.56 earnings per share for the current year.

Insider Activity

In other news, VP Daniel J. Lippis sold 500 shares of the firm’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $68.76, for a total transaction of $34,380.00. Following the sale, the vice president now owns 23,189 shares of the company’s stock, valued at $1,594,475.64. This trade represents a 2.11 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Scott B. Ullem sold 11,250 shares of the firm’s 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 sale, the chief financial officer now directly owns 30,561 shares in the company, valued at approximately $2,315,301.36. The trade was a 26.91 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 20,750 shares of company stock valued at $1,564,255 in the last 90 days. 1.29% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Edwards Lifesciences

Institutional investors have recently made changes to their positions in the business. Crowley Wealth Management Inc. bought a new position in shares of Edwards Lifesciences in the 4th quarter worth approximately $26,000. Millstone Evans Group LLC bought a new stake in Edwards Lifesciences during the 4th quarter worth approximately $29,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in Edwards Lifesciences during the 4th quarter worth approximately $30,000. FSA Wealth Management LLC bought a new stake in Edwards Lifesciences during the 3rd quarter worth approximately $30,000. Finally, Prospera Private Wealth LLC bought a new stake in Edwards Lifesciences during the 3rd quarter worth approximately $32,000. 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.