Evercore ISI Lowers Edwards Lifesciences (NYSE:EW) Price Target to $89.00

Edwards Lifesciences (NYSE:EW) had its price target cut by investment analysts at Evercore ISI from $92.00 to $89.00 in a report released on Friday, Benzinga reports. The firm currently has an “in-line” rating on the medical research company’s stock. Evercore ISI’s price objective points to a potential upside of 2.69% from the stock’s current price.

Other equities research analysts also recently issued reports about the stock. Oppenheimer lifted their price objective on shares of Edwards Lifesciences from $93.00 to $100.00 and gave the stock an “outperform” rating in a research note on Monday, March 18th. Bank of America upgraded shares of Edwards Lifesciences from a “neutral” rating to a “buy” rating in a research note on Thursday, March 7th. Mizuho lifted their price objective on shares of Edwards Lifesciences from $95.00 to $105.00 and gave the stock a “buy” rating in a research note on Thursday, April 11th. Stifel Nicolaus lifted their price objective on shares of Edwards Lifesciences from $83.00 to $85.00 and gave the stock a “hold” rating in a research note on Friday. Finally, Morgan Stanley boosted their target price on shares of Edwards Lifesciences from $95.00 to $103.00 and gave the company an “overweight” rating in a research report on Thursday, March 21st. One 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’s stock. Based on data from MarketBeat.com, Edwards Lifesciences has an average rating of “Moderate Buy” and a consensus target price of $93.00.

Edwards Lifesciences Trading Down 1.5 %

Shares of Edwards Lifesciences stock traded down $1.34 on Friday, hitting $86.67. 2,796,839 shares of the company traded hands, compared to its average volume of 3,815,568. The stock’s 50 day moving average price is $90.27 and its 200-day moving average price is $78.76. The company has a current ratio of 3.38, a quick ratio of 2.40 and a debt-to-equity ratio of 0.09. Edwards Lifesciences has a 52 week low of $60.57 and a 52 week high of $96.12. The company has a market cap of $52.17 billion, a PE ratio of 37.67, a PEG ratio of 4.39 and a beta of 1.05.

Edwards Lifesciences (NYSE:EW) last released its quarterly earnings results on Thursday, April 25th. The medical research company reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.02. Edwards Lifesciences had a net margin of 23.35% and a return on equity of 23.56%. The business had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.58 billion. Equities research analysts predict that Edwards Lifesciences will post 2.76 EPS for the current year.

Insider Activity at Edwards Lifesciences

In other news, VP Daniel J. Lippis sold 1,715 shares of the stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $90.98, for a total value of $156,030.70. Following the completion of the sale, 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 this link. In other news, CFO Scott B. Ullem sold 7,255 shares of Edwards Lifesciences stock in a transaction 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 directly owns 19,248 shares of the company’s stock, valued at approximately $1,506,925.92. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Daniel J. Lippis sold 1,715 shares of Edwards Lifesciences stock in a transaction 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 sale, the vice president now directly owns 17,213 shares of the company’s stock, valued at $1,566,038.74. The disclosure for this sale can be found here. In 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 have recently modified their holdings of the company. First National Trust Co raised its stake in Edwards Lifesciences by 17.5% during the 1st quarter. First National Trust Co now owns 4,106 shares of the medical research company’s stock worth $392,000 after acquiring an additional 611 shares in the last quarter. Mesirow Financial Investment Management Inc. acquired a new stake in Edwards Lifesciences during the 1st quarter worth $486,000. Patrick M Sweeney & Associates Inc. raised its stake in Edwards Lifesciences by 8.0% during the 1st quarter. Patrick M Sweeney & Associates Inc. now owns 3,180 shares of the medical research company’s stock worth $304,000 after acquiring an additional 235 shares in the last quarter. Verdence Capital Advisors LLC raised its stake in Edwards Lifesciences by 7.1% during the 1st quarter. Verdence Capital Advisors LLC now owns 11,599 shares of the medical research company’s stock worth $1,108,000 after acquiring an additional 769 shares in the last quarter. Finally, TRUE Private Wealth Advisors acquired a new stake in Edwards Lifesciences during the 1st quarter worth $215,000. 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.