Edwards Lifesciences (NYSE:EW) Price Target Raised to $71.00

Edwards Lifesciences (NYSE:EW) had its price target increased by Canaccord Genuity Group from $68.00 to $71.00 in a research report released on Thursday,Benzinga reports. They currently have a hold rating on the medical research company’s stock.

EW has been the subject of several other reports. Piper Sandler raised their target price on shares of Edwards Lifesciences from $70.00 to $73.00 and gave the company a “neutral” rating in a research note on Wednesday. Evercore ISI dropped their target price on Edwards Lifesciences from $75.00 to $73.00 and set an “in-line” rating on the stock in a research note on Wednesday. Sanford C. Bernstein raised Edwards Lifesciences from a “strong sell” rating to a “hold” rating in a report on Monday, October 28th. Stifel Nicolaus upgraded shares of Edwards Lifesciences from a “hold” rating to a “buy” rating and upped their price objective for the company from $75.00 to $90.00 in a report on Thursday, January 30th. Finally, Bank of America upgraded shares of Edwards Lifesciences from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $82.00 to $90.00 in a research note on Monday, December 16th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, Edwards Lifesciences has a consensus rating of “Hold” and an average target price of $79.95.

Edwards Lifesciences Trading Up 0.3 %

Shares of NYSE:EW opened at $76.23 on Thursday. The company has a market capitalization of $44.96 billion, a PE ratio of 11.00, a P/E/G ratio of 3.64 and a beta of 1.10. The company has a current ratio of 3.46, a quick ratio of 2.89 and a debt-to-equity ratio of 0.06. Edwards Lifesciences has a 12-month low of $58.93 and a 12-month high of $96.12. The business’s fifty day simple moving average is $72.67 and its 200-day simple moving average is $69.50.

Edwards Lifesciences (NYSE:EW) last posted its earnings results on Tuesday, February 11th. The medical research company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.04. Edwards Lifesciences had a return on equity of 20.76% and a net margin of 70.82%. As a group, equities research analysts predict that Edwards Lifesciences will post 2.56 earnings per share for the current fiscal year.

Insider Transactions at Edwards Lifesciences

In related news, VP Daniel J. Lippis sold 500 shares of the business’s stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $68.76, for a total value of $34,380.00. Following the completion of the sale, the vice president now owns 23,189 shares of the company’s stock, valued at approximately $1,594,475.64. The trade was a 2.11 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Steven R. Loranger sold 5,739 shares of the stock in a transaction on Friday, February 14th. The shares were sold at an average price of $76.42, for a total transaction of $438,574.38. Following the transaction, the director now directly owns 60,372 shares in the company, valued at approximately $4,613,628.24. The trade was a 8.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 26,489 shares of company stock valued at $2,002,829 in the last three months. 1.29% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Edwards Lifesciences

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Harbor Capital Advisors Inc. boosted its position in Edwards Lifesciences by 2.5% during the fourth quarter. Harbor Capital Advisors Inc. now owns 11,135 shares of the medical research company’s stock worth $824,000 after acquiring an additional 273 shares during the last quarter. Nordea Investment Management AB boosted its holdings in shares of Edwards Lifesciences by 34.6% during the 4th quarter. Nordea Investment Management AB now owns 4,057,013 shares of the medical research company’s stock worth $301,355,000 after purchasing an additional 1,043,484 shares during the last quarter. WELLCOME TRUST LTD THE as trustee of the WELLCOME TRUST grew its position in shares of Edwards Lifesciences by 6.7% in the fourth quarter. WELLCOME TRUST LTD THE as trustee of the WELLCOME TRUST now owns 4,800,000 shares of the medical research company’s stock valued at $355,344,000 after purchasing an additional 300,000 shares in the last quarter. Sivik Global Healthcare LLC acquired a new stake in shares of Edwards Lifesciences in the fourth quarter valued at approximately $3,702,000. Finally, Avanza Fonder AB purchased a new position in shares of Edwards Lifesciences during the 4th quarter worth $4,845,000. Hedge funds and other 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.