Edwards Lifesciences (NYSE:EW) Receives Outperform Rating from Royal Bank of Canada

Edwards Lifesciences (NYSE:EW)‘s stock had its “outperform” rating reaffirmed by stock analysts at Royal Bank of Canada in a research note issued on Wednesday,Benzinga reports. They presently have a $85.00 price objective on the medical research company’s stock. Royal Bank of Canada’s target price points to a potential upside of 12.62% from the company’s previous close.

Other analysts have also recently issued research reports about the company. Evercore ISI lowered their price target on Edwards Lifesciences from $75.00 to $73.00 and set an “in-line” rating on the stock in a report on Wednesday. Morgan Stanley upped their price target on Edwards Lifesciences from $70.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Piper Sandler upped their target price on shares of Edwards Lifesciences from $70.00 to $73.00 and gave the stock a “neutral” rating in a research note on Wednesday. Daiwa America downgraded Edwards Lifesciences from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 30th. Finally, Citigroup increased their price target on Edwards Lifesciences from $81.00 to $83.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $79.71.

Edwards Lifesciences Trading Up 6.4 %

EW traded up $4.57 during trading on Wednesday, hitting $75.48. The company’s stock had a trading volume of 2,804,116 shares, compared to its average volume of 4,337,154. The firm has a market capitalization of $44.52 billion, a P/E ratio of 10.89, a PEG ratio of 3.64 and a beta of 1.10. The stock’s fifty day moving average price is $72.47 and its 200-day moving average price is $69.32. The company has a quick ratio of 2.89, a current ratio of 3.46 and a debt-to-equity ratio of 0.06. Edwards Lifesciences has a twelve month low of $58.93 and a twelve month high of $96.12.

Edwards Lifesciences (NYSE:EW) last released its quarterly earnings data on Tuesday, February 11th. The medical research company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.55 by $0.04. Edwards Lifesciences had a net margin of 70.82% and a return on equity of 20.76%. Analysts anticipate that Edwards Lifesciences will post 2.56 EPS for the current year.

Insider Buying and Selling at Edwards Lifesciences

In other news, VP Daniel J. Lippis sold 500 shares of the company’s stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $68.76, for a total transaction 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 $1,594,475.64. This represents a 2.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.29% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Edwards Lifesciences

A number of institutional investors have recently bought and sold shares of EW. Crowley Wealth Management Inc. acquired a new stake in Edwards Lifesciences in the 4th quarter valued at approximately $26,000. Millstone Evans Group LLC purchased a new stake in shares of Edwards Lifesciences in the fourth quarter valued at about $29,000. FSA Wealth Management LLC purchased a new stake in shares of Edwards Lifesciences in the third quarter valued at about $30,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Edwards Lifesciences in the 4th quarter valued at about $30,000. Finally, Prospera Private Wealth LLC purchased a new position in Edwards Lifesciences in the third quarter valued at about $32,000. 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.