Edwards Lifesciences (NYSE:EW) Given New $121.00 Price Target at TD Cowen

Edwards Lifesciences (NYSE:EW) had its target price increased by research analysts at TD Cowen from $117.00 to $121.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the medical research company’s stock. TD Cowen‘s target price suggests a potential upside of 15.68% from the company’s previous close.

Other research analysts have also recently issued research reports about the company. Sanford C. Bernstein raised their price target on Edwards Lifesciences from $99.00 to $106.00 and gave the stock a “market perform” rating in a research report on Thursday, November 5th. BTIG Research upped their price objective on shares of Edwards Lifesciences from $110.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday, November 5th. Wells Fargo & Company reiterated an “overweight” rating and set a $113.00 price objective (up from $100.00) on shares of Edwards Lifesciences in a research note on Thursday, November 5th. Robert W. Baird raised shares of Edwards Lifesciences from a “neutral” rating to an “outperform” rating and set a $116.00 target price on the stock in a report on Thursday, November 5th. Finally, Wall Street Zen raised shares of Edwards Lifesciences from a “hold” rating to a “buy” rating in a report on Sunday. Twenty-three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $109.56.

Edwards Lifesciences Stock Performance

EW stock traded up $0.59 during mid-day trading on Wednesday, hitting $104.60. 744,523 shares of the company were exchanged, compared to its average volume of 4,523,745. Edwards Lifesciences has a 1-year low of $74.66 and a 1-year high of $105.37. The stock has a market capitalization of $60.14 billion, a PE ratio of 59.10, a price-to-earnings-growth ratio of 2.79 and a beta of 0.85. The business has a 50 day simple moving average of $89.47 and a 200-day simple moving average of $85.98. The company has a current ratio of 4.60, a quick ratio of 3.86 and a debt-to-equity ratio of 0.05.

Edwards Lifesciences (NYSE:EW) last announced its earnings results on Wednesday, November 4th. The medical research company reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.06. The firm had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.68 billion. Edwards Lifesciences had a net margin of 15.30% and a return on equity of 16.06%. The business’s revenue was up 10.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.67 EPS. On average, equities analysts forecast that Edwards Lifesciences will post 3.01 earnings per share for the current year.

Insiders Place Their Bets

In other news, VP Donald Bobo, Jr sold 48,900 shares of the business’s stock in a transaction on Monday, November 9th. The stock was sold at an average price of $103.05, for a total transaction of $5,039,145.00. Following the completion of the transaction, the vice president owned 22,798 shares of the company’s stock, valued at approximately $2,349,333.90. The trade was a 68.20% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Andrew M. Dahl sold 544 shares of the business’s stock in a transaction on Monday, August 31st. The stock was sold at an average price of $91.06, for a total value of $49,536.64. Following the transaction, the senior vice president directly owned 14,868 shares of the company’s stock, valued at $1,353,880.08. This trade represents a 3.53% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 53,945 shares of company stock worth $5,498,306. 0.31% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of EW. RMG Wealth Management LLC bought a new stake in shares of Edwards Lifesciences during the 1st quarter valued at approximately $26,000. Pin Oak Investment Advisors Inc. bought a new position in Edwards Lifesciences in the 2nd quarter valued at approximately $26,000. GK Wealth Management LLC acquired a new stake in Edwards Lifesciences in the third quarter valued at approximately $26,000. TrinityBridge Ltd acquired a new stake in Edwards Lifesciences in the second quarter valued at approximately $27,000. Finally, Meeder Asset Management Inc. boosted its position in Edwards Lifesciences by 175.2% in the first quarter. Meeder Asset Management Inc. now owns 366 shares of the medical research company’s stock valued at $29,000 after buying an additional 233 shares in the last quarter. Institutional investors and hedge funds own 79.46% of the company’s stock.

About Edwards Lifesciences

Edwards Lifesciences is a medical technology company focused on therapies for structural heart disease and critical care. Its products include transcatheter and surgical heart valves, as well as technologies used to monitor patients during intensive care and surgery. The company traces its origins to 1958, when engineer Lowell Edwards and surgeon Albert Starr began developing an artificial heart valve. Their work led to the Starr-Edwards valve, introduced in 1960. Edwards Lifesciences is headquartered in Irvine, California, and serves clinicians and patients around the world.