Edwards Lifesciences (NYSE:EW) Given New $85.00 Price Target at Royal Bank of Canada

Edwards Lifesciences (NYSE:EW) had its price target cut by Royal Bank of Canada from $101.00 to $85.00 in a report issued on Thursday morning, Benzinga reports. They currently have an outperform rating on the medical research company’s stock.

Other equities analysts have also issued reports about the company. JPMorgan Chase & Co. lowered Edwards Lifesciences from an overweight rating to a neutral rating and cut their price objective for the stock from $105.00 to $72.00 in a research note on Thursday. Robert W. Baird lowered Edwards Lifesciences from an outperform rating to a neutral rating and cut their price objective for the stock from $102.00 to $70.00 in a research note on Thursday. The Goldman Sachs Group assumed coverage on Edwards Lifesciences in a research note on Thursday, May 30th. They issued a buy rating and a $107.00 price objective on the stock. Bank of America lowered Edwards Lifesciences from a buy rating to a neutral rating and cut their price objective for the stock from $105.00 to $75.00 in a research note on Thursday. Finally, Oppenheimer dropped their price target on Edwards Lifesciences from $100.00 to $90.00 and set an outperform rating on the stock in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus price target of $82.10.

Edwards Lifesciences Stock Performance

NYSE:EW opened at $62.37 on Thursday. The stock has a market cap of $37.58 billion, a P/E ratio of 26.88, a price-to-earnings-growth ratio of 2.31 and a beta of 1.11. The company has a current ratio of 3.71, a quick ratio of 2.67 and a debt-to-equity ratio of 0.08. The stock’s 50-day moving average is $87.98 and its 200-day moving average is $86.99. Edwards Lifesciences has a 1-year low of $58.93 and a 1-year high of $96.12.

Edwards Lifesciences (NYSE:EW) last released its quarterly earnings results on Wednesday, July 24th. The medical research company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.01. The company had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.65 billion. Edwards Lifesciences had a return on equity of 22.35% and a net margin of 24.55%. The business’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.66 earnings per share. Equities research analysts anticipate that Edwards Lifesciences will post 2.71 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Bernard J. Zovighian purchased 580 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The stock was acquired at an average price of $85.74 per share, for a total transaction of $49,729.20. Following the completion of the acquisition, the chief executive officer now owns 3,268 shares of the company’s stock, valued at approximately $280,198.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Edwards Lifesciences news, CFO Scott B. Ullem sold 7,250 shares of the company’s stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $85.80, for a total value of $622,050.00. Following the completion of the transaction, the chief financial officer now owns 19,074 shares in the company, valued at approximately $1,636,549.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Bernard J. Zovighian acquired 580 shares of Edwards Lifesciences stock in a transaction on Monday, May 6th. The stock was acquired at an average price of $85.74 per share, with a total value of $49,729.20. Following the purchase, the chief executive officer now directly owns 3,268 shares in the company, valued at $280,198.32. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 81,099 shares of company stock worth $7,003,553. 1.29% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of EW. DSM Capital Partners LLC bought a new position in Edwards Lifesciences in the 4th quarter valued at $28,000. Crewe Advisors LLC bought a new position in shares of Edwards Lifesciences during the 1st quarter worth $28,000. First Community Trust NA bought a new position in shares of Edwards Lifesciences during the 2nd quarter worth $29,000. Turtle Creek Wealth Advisors LLC bought a new position in shares of Edwards Lifesciences during the 4th quarter worth $34,000. Finally, Riverview Trust Co bought a new position in shares of Edwards Lifesciences during the 1st quarter worth $34,000. 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.