Truist Financial Issues Pessimistic Forecast for Edwards Lifesciences (NYSE:EW) Stock Price

Edwards Lifesciences (NYSE:EW) had its price target reduced by stock analysts at Truist Financial from $78.00 to $75.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has a “hold” rating on the medical research company’s stock. Truist Financial’s price target indicates a potential upside of 9.72% from the company’s current price.

Other equities analysts have also recently issued research reports about the stock. Canaccord Genuity Group raised their price target on shares of Edwards Lifesciences from $68.00 to $71.00 and gave the company a “hold” rating in a research report on Thursday, February 13th. Barclays increased their price objective on Edwards Lifesciences from $88.00 to $90.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Piper Sandler boosted their target price on Edwards Lifesciences from $70.00 to $73.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 12th. Morgan Stanley increased their price target on Edwards Lifesciences from $70.00 to $75.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 12th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $85.00 price objective on shares of Edwards Lifesciences in a research report on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, Edwards Lifesciences currently has an average rating of “Hold” and a consensus target price of $79.81.

Edwards Lifesciences Stock Down 2.2 %

Edwards Lifesciences stock opened at $68.35 on Friday. Edwards Lifesciences has a fifty-two week low of $58.93 and a fifty-two week high of $95.25. The firm has a 50 day moving average price of $71.36 and a 200 day moving average price of $70.67. The company has a market capitalization of $40.18 billion, a PE ratio of 9.89, a price-to-earnings-growth ratio of 4.82 and a beta of 1.15. 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 announced its 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 return on equity of 19.40% and a net margin of 72.93%. Research analysts expect that Edwards Lifesciences will post 2.45 earnings per share for the current year.

Insider Transactions at Edwards Lifesciences

In related news, Director Steven R. Loranger sold 5,739 shares of the business’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $76.42, for a total value of $438,574.38. Following the completion of the sale, the director now directly owns 60,372 shares of the company’s stock, valued at $4,613,628.24. The trade was a 8.68 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Daniel J. Lippis sold 500 shares of the stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $68.76, for a total value of $34,380.00. Following the transaction, the vice president now directly owns 23,189 shares in the company, valued at approximately $1,594,475.64. This represents a 2.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 62,853 shares of company stock valued at $4,534,247 over the last quarter. Company insiders own 1.29% of the company’s stock.

Institutional Investors Weigh In On Edwards Lifesciences

Institutional investors have recently made changes to their positions in the company. Coldstream Capital Management Inc. lifted its position in shares of Edwards Lifesciences by 14.9% in the 3rd quarter. Coldstream Capital Management Inc. now owns 9,382 shares of the medical research company’s stock worth $620,000 after buying an additional 1,219 shares during the last quarter. Toronto Dominion Bank lifted its holdings in Edwards Lifesciences by 1.4% in the third quarter. Toronto Dominion Bank now owns 300,280 shares of the medical research company’s stock worth $19,815,000 after acquiring an additional 4,008 shares during the last quarter. Teachers Retirement System of The State of Kentucky boosted its stake in Edwards Lifesciences by 43.5% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 138,755 shares of the medical research company’s stock valued at $9,156,000 after acquiring an additional 42,059 shares during the period. Virtu Financial LLC bought a new position in shares of Edwards Lifesciences during the third quarter valued at approximately $3,173,000. Finally, World Investment Advisors LLC raised its position in shares of Edwards Lifesciences by 1,660.7% during the 3rd quarter. World Investment Advisors LLC now owns 72,277 shares of the medical research company’s stock worth $4,770,000 after purchasing an additional 68,172 shares during the period. 79.46% of the stock is currently owned by institutional investors.

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.