Royal Bank of Canada Increases Edwards Lifesciences (NYSE:EW) Price Target to $101.00

Edwards Lifesciences (NYSE:EW) had its price objective lifted by Royal Bank of Canada from $95.00 to $101.00 in a research note published on Monday morning, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the medical research company’s stock.

Other equities research analysts also recently issued reports about the company. Citigroup lifted their price objective on Edwards Lifesciences from $90.00 to $98.00 and gave the stock a neutral rating in a report on Wednesday, April 3rd. StockNews.com downgraded Edwards Lifesciences from a buy rating to a hold rating in a research note on Wednesday, March 20th. Morgan Stanley boosted their price target on Edwards Lifesciences from $95.00 to $103.00 and gave the company an overweight rating in a research note on Thursday, March 21st. Mizuho boosted their price target on Edwards Lifesciences from $95.00 to $105.00 and gave the company a buy rating in a research note on Thursday, April 11th. Finally, Bank of America upgraded Edwards Lifesciences from a neutral rating to a buy rating in a research note on Thursday, March 7th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, Edwards Lifesciences has an average rating of Moderate Buy and an average target price of $91.73.

Edwards Lifesciences Price Performance

EW opened at $86.45 on Monday. The stock has a 50-day moving average price of $90.14 and a 200-day moving average price of $78.19. The company has a debt-to-equity ratio of 0.09, a current ratio of 3.38 and a quick ratio of 2.40. The firm has a market cap of $52.04 billion, a PE ratio of 37.59, a P/E/G ratio of 4.46 and a beta of 1.05. Edwards Lifesciences has a 1 year low of $60.57 and a 1 year high of $96.12.

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, hitting the consensus estimate of $0.64. Edwards Lifesciences had a return on equity of 23.56% and a net margin of 23.35%. The firm had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.50 billion. During the same quarter in the previous year, the firm earned $0.64 EPS. Edwards Lifesciences’s quarterly revenue was up 13.3% compared to the same quarter last year. Sell-side analysts predict that Edwards Lifesciences will post 2.76 earnings per share for the current fiscal year.

Insider Transactions at Edwards Lifesciences

In other news, VP Daniel J. Lippis sold 1,715 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $90.98, for a total transaction of $156,030.70. Following the transaction, the vice president now owns 17,213 shares of the company’s stock, valued at approximately $1,566,038.74. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Edwards Lifesciences news, VP Daniel J. Lippis sold 1,715 shares of the company’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $90.98, for a total value of $156,030.70. Following the transaction, the vice president now owns 17,213 shares of the company’s stock, valued at approximately $1,566,038.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Catherine M. Szyman sold 27,000 shares of the firm’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $85.62, for a total value of $2,311,740.00. Following the transaction, the vice president now owns 34,814 shares in the company, valued at approximately $2,980,774.68. The disclosure for this sale can be found here. Insiders have sold 194,004 shares of company stock valued at $17,166,254 in the last ninety days. Corporate insiders own 1.29% of the company’s stock.

Institutional Investors Weigh In On Edwards Lifesciences

A number of institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in shares of Edwards Lifesciences by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 52,363,400 shares of the medical research company’s stock worth $3,992,709,000 after purchasing an additional 729,984 shares during the period. Alliancebernstein L.P. lifted its holdings in shares of Edwards Lifesciences by 0.3% during the second quarter. Alliancebernstein L.P. now owns 20,512,235 shares of the medical research company’s stock worth $1,934,919,000 after purchasing an additional 66,763 shares during the period. Brown Advisory Inc. lifted its holdings in shares of Edwards Lifesciences by 20.1% during the fourth quarter. Brown Advisory Inc. now owns 18,181,420 shares of the medical research company’s stock worth $1,386,333,000 after purchasing an additional 3,048,274 shares during the period. Wellington Management Group LLP lifted its holdings in shares of Edwards Lifesciences by 2.4% during the fourth quarter. Wellington Management Group LLP now owns 16,827,510 shares of the medical research company’s stock worth $1,283,098,000 after purchasing an additional 393,109 shares during the period. Finally, Moneta Group Investment Advisors LLC lifted its holdings in shares of Edwards Lifesciences by 104,971.3% during the fourth 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 purchasing an additional 15,384,593 shares during the period. Institutional investors own 79.46% of the company’s stock.

Edwards Lifesciences Company Profile

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.