Edwards Lifesciences (NYSE:EW) PT Lowered to $80.00

Edwards Lifesciences (NYSE:EW) had its target price decreased by Wells Fargo & Company from $90.00 to $80.00 in a research note published on Monday morning, Benzinga reports. Wells Fargo & Company currently has an overweight rating on the medical research company’s stock.

Several other research analysts have also commented on the company. Canaccord Genuity Group dropped their price target on Edwards Lifesciences from $85.00 to $77.00 and set a hold rating for the company in a research report on Thursday, July 25th. Piper Sandler dropped their price target on Edwards Lifesciences from $88.00 to $73.00 and set a neutral rating for the company in a research report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Edwards Lifesciences from $103.00 to $85.00 and set a buy rating for the company in a research note on Thursday, July 25th. JPMorgan Chase & Co. downgraded shares of Edwards Lifesciences from an overweight rating to a neutral rating and decreased their price objective for the stock from $105.00 to $72.00 in a research note on Thursday, July 25th. Finally, StockNews.com downgraded shares of Edwards Lifesciences from a buy rating to a hold rating in a research note on Thursday, July 25th. Fifteen equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of Hold and an average target price of $80.81.

Edwards Lifesciences Trading Down 0.1 %

EW opened at $68.15 on Monday. The firm has a market cap of $41.07 billion, a P/E ratio of 29.38, a P/E/G ratio of 2.79 and a beta of 1.13. Edwards Lifesciences has a 12 month low of $58.93 and a 12 month high of $96.12. The company has a current ratio of 3.71, a quick ratio of 2.87 and a debt-to-equity ratio of 0.08. The stock has a 50-day moving average of $72.86 and a 200 day moving average of $83.61.

Edwards Lifesciences (NYSE:EW) last released its quarterly earnings results on Wednesday, July 24th. The medical research company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.69 by $0.01. The company had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.65 billion. Edwards Lifesciences had a return on equity of 22.35% and a net margin of 24.55%. The firm’s revenue was up 6.7% on a year-over-year basis. During the same quarter last year, the business posted $0.66 earnings per share. As a group, research analysts forecast that Edwards Lifesciences will post 2.7 EPS for the current year.

Insider Buying and Selling

In related news, VP Donald E. Bobo, Jr. sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $66.08, for a total value of $330,400.00. Following the completion of the transaction, the vice president now owns 46,936 shares of the company’s stock, valued at $3,101,530.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Edwards Lifesciences news, VP Donald E. Bobo, Jr. sold 5,000 shares of Edwards Lifesciences stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $66.08, for a total value of $330,400.00. Following the transaction, the vice president now directly owns 46,936 shares of the company’s stock, valued at $3,101,530.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Daveen Chopra sold 1,250 shares of Edwards Lifesciences stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $69.95, for a total transaction of $87,437.50. Following the completion of the transaction, the vice president now directly owns 29,333 shares in the company, valued at $2,051,843.35. The disclosure for this sale can be found here. Insiders sold 16,250 shares of company stock valued at $1,218,138 over the last 90 days. Corporate insiders own 1.29% of the company’s stock.

Hedge Funds Weigh In On Edwards Lifesciences

Institutional investors and hedge funds have recently bought and sold shares of the company. Cim LLC grew its holdings in shares of Edwards Lifesciences by 1.4% during the second quarter. Cim LLC now owns 186,769 shares of the medical research company’s stock valued at $17,252,000 after buying an additional 2,641 shares during the last quarter. Sanctuary Advisors LLC purchased a new stake in shares of Edwards Lifesciences during the second quarter valued at $8,917,000. New Century Financial Group LLC grew its holdings in shares of Edwards Lifesciences by 34.2% during the second quarter. New Century Financial Group LLC now owns 3,579 shares of the medical research company’s stock valued at $331,000 after buying an additional 912 shares during the last quarter. Heartland Bank & Trust Co purchased a new stake in shares of Edwards Lifesciences during the second quarter valued at $586,000. Finally, SPC Financial Inc. purchased a new stake in shares of Edwards Lifesciences during the second quarter valued at $213,000. 79.46% of the stock is owned by hedge funds and other 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.