Canaccord Genuity Group Forecasts Strong Price Appreciation for Edwards Lifesciences (NYSE:EW) Stock

Edwards Lifesciences (NYSE:EW - Get Free Report) had its price objective boosted by stock analysts at Canaccord Genuity Group from $68.00 to $71.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has a "hold" rating on the medical research company's stock. Canaccord Genuity Group's price target indicates a potential downside of 6.85% from the company's current price.

Other analysts also recently issued reports about the stock. Barclays boosted their price target on shares of Edwards Lifesciences from $85.00 to $88.00 and gave the stock an "overweight" rating in a research note on Monday, December 2nd. Daiwa America cut Edwards Lifesciences from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, October 30th. Evercore ISI dropped their price objective on Edwards Lifesciences from $75.00 to $73.00 and set an "in-line" rating for the company in a research note on Wednesday, February 12th. Morgan Stanley lifted their target price on shares of Edwards Lifesciences from $70.00 to $75.00 and gave the stock an "equal weight" rating in a research note on Wednesday, February 12th. Finally, Citigroup raised their price target on shares of Edwards Lifesciences from $81.00 to $83.00 and gave the stock a "buy" rating in a report on Wednesday, December 11th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $79.95.

Edwards Lifesciences Price Performance

Shares of Edwards Lifesciences stock traded up $0.23 during trading on Thursday, hitting $76.23. 3,899,190 shares of the stock traded hands, compared to its average volume of 4,438,355. The stock has a market cap of $44.96 billion, a price-to-earnings ratio of 11.00, a PEG ratio of 3.64 and a beta of 1.10. The company has a quick ratio of 2.89, a current ratio of 3.46 and a debt-to-equity ratio of 0.06. Edwards Lifesciences has a 52 week low of $58.93 and a 52 week high of $96.12. The firm's fifty day moving average is $72.67 and its 200-day moving average is $69.58.

Edwards Lifesciences (NYSE:EW - Get Free Report) last issued its quarterly earnings results on Tuesday, February 11th. The medical research company reported $0.59 EPS for the quarter, beating analysts' consensus estimates of $0.55 by $0.04. Edwards Lifesciences had a net margin of 70.82% and a return on equity of 20.76%. Research analysts expect that Edwards Lifesciences will post 2.56 EPS for the current fiscal year.

Insiders Place Their Bets

In other Edwards Lifesciences news, Director Steven R. Loranger sold 5,739 shares of the firm's stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $76.42, for a total transaction of $438,574.38. Following the completion of the sale, the director now directly owns 60,372 shares in the company, valued at approximately $4,613,628.24. This trade represents a 8.68 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Daniel J. Lippis sold 500 shares of the company's stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $68.76, for a total transaction of $34,380.00. Following the completion of the transaction, the vice president now owns 23,189 shares in the company, valued at approximately $1,594,475.64. This represents a 2.11 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 26,489 shares of company stock worth $2,002,829. 1.29% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Edwards Lifesciences

Several hedge funds and other institutional investors have recently added to or reduced their stakes in EW. Crowley Wealth Management Inc. purchased a new position in shares of Edwards Lifesciences during the fourth quarter valued at approximately $26,000. Millstone Evans Group LLC bought a new position in Edwards Lifesciences in the fourth quarter valued at about $29,000. FSA Wealth Management LLC purchased a new position in Edwards Lifesciences in the third quarter worth about $30,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Edwards Lifesciences during the 4th quarter valued at about $30,000. Finally, Prospera Private Wealth LLC purchased a new position in shares of Edwards Lifesciences in the third quarter worth approximately $32,000. 79.46% of the stock is owned by 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.