Edwards Lifesciences Co. (NYSE:EW) Receives $90.67 Average PT from Brokerages

Edwards Lifesciences Co. (NYSE:EW) has been given an average rating of “Moderate Buy” by the seventeen brokerages that are currently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, six have given a hold recommendation and ten have issued a buy recommendation on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $91.73.

A number of analysts have recently weighed in on the stock. OTR Global upgraded shares of Edwards Lifesciences from a “mixed” rating to a “positive” rating in a report on Tuesday, March 26th. Morgan Stanley increased their target price on shares of Edwards Lifesciences from $95.00 to $103.00 and gave the stock an “overweight” rating in a report on Thursday, March 21st. Bank of America upgraded shares of Edwards Lifesciences from a “neutral” rating to a “buy” rating in a report on Thursday, March 7th. Truist Financial increased their target price on shares of Edwards Lifesciences from $78.00 to $84.00 and gave the stock a “buy” rating in a report on Friday, December 22nd. Finally, StockNews.com lowered shares of Edwards Lifesciences from a “buy” rating to a “hold” rating in a report on Wednesday, March 20th.

Edwards Lifesciences Stock Performance

NYSE EW opened at $89.20 on Tuesday. The company has a 50-day simple moving average of $90.07 and a two-hundred day simple moving average of $77.92. The company has a quick ratio of 2.40, a current ratio of 3.38 and a debt-to-equity ratio of 0.09. Edwards Lifesciences has a 12-month low of $60.57 and a 12-month high of $96.12. The firm has a market cap of $53.69 billion, a price-to-earnings ratio of 38.78, a PEG ratio of 4.47 and a beta of 1.05.

Edwards Lifesciences (NYSE:EW) last posted its quarterly earnings results on Tuesday, February 6th. The medical research company reported $0.64 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.64. Edwards Lifesciences had a net margin of 23.35% and a return on equity of 23.56%. The business had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.50 billion. During the same period in the prior year, the business posted $0.64 earnings per share. The company’s revenue was up 13.3% on a year-over-year basis. On average, equities analysts forecast that Edwards Lifesciences will post 2.76 EPS for the current year.

Insider Buying and Selling at Edwards Lifesciences

In related news, CFO Scott B. Ullem sold 7,255 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $78.29, for a total transaction of $567,993.95. Following the completion of the sale, the chief financial officer now owns 19,248 shares of the company’s stock, valued at $1,506,925.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Michael A. Mussallem sold 29,350 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $86.67, for a total transaction of $2,543,764.50. Following the completion of the sale, the director now owns 4,486 shares of the company’s stock, valued at $388,801.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Scott B. Ullem sold 7,255 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $78.29, for a total transaction of $567,993.95. Following the sale, the chief financial officer now directly owns 19,248 shares of the company’s stock, valued at approximately $1,506,925.92. The disclosure for this sale can be found here. Over the last quarter, insiders sold 194,004 shares of company stock valued at $17,166,254. Corporate insiders own 1.29% of the company’s stock.

Institutional Investors Weigh In On Edwards Lifesciences

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in shares of Edwards Lifesciences by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 52,363,400 shares of the medical research company’s stock worth $3,992,709,000 after acquiring an additional 729,984 shares during the last quarter. Alliancebernstein L.P. boosted its stake in shares of Edwards Lifesciences by 0.3% during the 2nd quarter. Alliancebernstein L.P. now owns 20,512,235 shares of the medical research company’s stock worth $1,934,919,000 after acquiring an additional 66,763 shares during the last quarter. Brown Advisory Inc. boosted its stake in shares of Edwards Lifesciences by 20.1% during the 4th quarter. Brown Advisory Inc. now owns 18,181,420 shares of the medical research company’s stock worth $1,386,333,000 after acquiring an additional 3,048,274 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of Edwards Lifesciences by 2.4% during the 4th quarter. Wellington Management Group LLP now owns 16,827,510 shares of the medical research company’s stock worth $1,283,098,000 after acquiring an additional 393,109 shares during the last quarter. Finally, Moneta Group Investment Advisors LLC boosted its stake in shares of Edwards Lifesciences by 104,971.3% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 15,399,249 shares of the medical research company’s stock worth $1,148,938,000 after acquiring an additional 15,384,593 shares during the last quarter. 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.