Morgan Stanley Forecasts Strong Price Appreciation for Edwards Lifesciences (NYSE:EW) Stock

Edwards Lifesciences (NYSE:EW) had its price target hoisted by Morgan Stanley from $70.00 to $75.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the medical research company’s stock. Morgan Stanley’s price objective points to a potential upside of 5.71% from the stock’s previous close.

A number of other brokerages have also issued reports on EW. Truist Financial restated a “hold” rating and issued a $78.00 price target (up previously from $70.00) on shares of Edwards Lifesciences in a research note on Thursday, December 5th. Wolfe Research lowered Edwards Lifesciences from a “peer perform” rating to an “underperform” rating and set a $60.00 target price on the stock. in a report on Thursday, January 16th. JPMorgan Chase & Co. raised their price objective on Edwards Lifesciences from $72.00 to $78.00 and gave the stock a “neutral” rating in a research report on Friday, October 25th. Robert W. Baird lowered their price objective on Edwards Lifesciences from $73.00 to $68.00 and set a “neutral” rating on the stock in a report on Friday, October 25th. Finally, The Goldman Sachs Group raised their price target on shares of Edwards Lifesciences from $81.00 to $90.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $79.43.

Edwards Lifesciences Stock Down 0.2 %

Edwards Lifesciences stock opened at $70.95 on Wednesday. Edwards Lifesciences has a fifty-two week low of $58.93 and a fifty-two week high of $96.12. The firm has a market capitalization of $41.85 billion, a price-to-earnings ratio of 10.24, a price-to-earnings-growth ratio of 3.64 and a beta of 1.10. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.89 and a current ratio of 3.46. The stock’s fifty day moving average is $72.47 and its two-hundred day moving average is $69.32.

Edwards Lifesciences (NYSE:EW) last released its earnings results on Tuesday, February 11th. The medical research company reported $0.59 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%. Analysts predict that Edwards Lifesciences will post 2.56 EPS for the current fiscal year.

Insider Buying and Selling at Edwards Lifesciences

In other news, VP Daniel J. Lippis sold 2,500 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $74.08, for a total value of $185,200.00. Following the sale, the vice president now directly owns 23,189 shares in the company, valued at approximately $1,717,841.12. This trade represents a 9.73 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 1.29% of the company’s stock.

Hedge Funds Weigh In On Edwards Lifesciences

Several institutional investors and hedge funds have recently added to or reduced their stakes in EW. Abacus Planning Group Inc. grew its holdings in shares of Edwards Lifesciences by 0.3% during the fourth quarter. Abacus Planning Group Inc. now owns 40,207 shares of the medical research company’s stock worth $2,977,000 after purchasing an additional 140 shares during the last quarter. Bowman & Co S.C. grew its holdings in Edwards Lifesciences by 1.2% during the 4th quarter. Bowman & Co S.C. now owns 12,487 shares of the medical research company’s stock worth $924,000 after acquiring an additional 148 shares during the last quarter. Moors & Cabot Inc. increased its position in Edwards Lifesciences by 0.3% in the 4th quarter. Moors & Cabot Inc. now owns 54,589 shares of the medical research company’s stock valued at $4,041,000 after acquiring an additional 152 shares during the period. Pegasus Asset Management Inc. raised its stake in shares of Edwards Lifesciences by 0.4% during the fourth quarter. Pegasus Asset Management Inc. now owns 42,628 shares of the medical research company’s stock valued at $3,156,000 after acquiring an additional 159 shares during the last quarter. Finally, Mount Yale Investment Advisors LLC lifted its holdings in shares of Edwards Lifesciences by 1.9% during the fourth quarter. Mount Yale Investment Advisors LLC now owns 8,563 shares of the medical research company’s stock worth $634,000 after purchasing an additional 162 shares during the period. 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.