Edwards Lifesciences (NYSE:EW) Price Target Raised to $75.00 at Canaccord Genuity Group

Edwards Lifesciences (NYSE:EW - Get Free Report) had its price objective boosted by research analysts at Canaccord Genuity Group from $71.00 to $75.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has a "hold" rating on the medical research company's stock. Canaccord Genuity Group's price target indicates a potential downside of 1.39% from the company's current price.

A number of other equities analysts also recently commented on the company. Robert W. Baird lifted their target price on Edwards Lifesciences from $72.00 to $75.00 and gave the company a "neutral" rating in a research note on Thursday. Truist Financial reduced their price objective on Edwards Lifesciences from $78.00 to $75.00 and set a "hold" rating for the company in a research report on Friday, April 11th. Barclays increased their target price on Edwards Lifesciences from $88.00 to $90.00 and gave the stock an "overweight" rating in a research report on Thursday, February 13th. Morgan Stanley boosted their price target on shares of Edwards Lifesciences from $70.00 to $75.00 and gave the company an "equal weight" rating in a report on Wednesday, February 12th. Finally, Wolfe Research cut shares of Edwards Lifesciences from a "hold" rating to a "strong sell" rating in a report on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $79.45.

Edwards Lifesciences Stock Performance

Shares of EW stock traded up $0.93 on Friday, hitting $76.06. 6,330,152 shares of the stock traded hands, compared to its average volume of 4,990,356. The company's fifty day moving average is $70.94 and its 200 day moving average is $71.11. Edwards Lifesciences has a 1-year low of $58.93 and a 1-year high of $95.25. The company has a market capitalization of $44.71 billion, a PE ratio of 10.91, a PEG ratio of 4.82 and a beta of 1.15. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.46 and a quick ratio of 2.89.

Edwards Lifesciences (NYSE:EW - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The medical research company reported $0.64 earnings per share for the quarter, topping analysts' consensus estimates of $0.60 by $0.04. Edwards Lifesciences had a net margin of 72.93% and a return on equity of 19.40%. The company had revenue of $1.41 billion for the quarter, compared to analysts' expectations of $1.40 billion. During the same period in the prior year, the company earned $0.66 earnings per share. On average, equities research analysts predict that Edwards Lifesciences will post 2.45 earnings per share for the current fiscal year.

Insider Transactions at Edwards Lifesciences

In related news, VP Daniel J. Lippis sold 400 shares of the firm's stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $69.48, for a total value of $27,792.00. Following the completion of the transaction, the vice president now owns 22,588 shares of the company's stock, valued at approximately $1,569,414.24. This trade represents a 1.74 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Bernard J. Zovighian sold 6,164 shares of the business's stock in a transaction on Monday, March 10th. The shares were sold at an average price of $69.51, for a total transaction of $428,459.64. Following the sale, the chief executive officer now directly owns 59,083 shares in the company, valued at approximately $4,106,859.33. This trade represents a 9.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 71,853 shares of company stock valued at $5,163,062 in the last quarter. Insiders own 0.34% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Mather Group LLC. grew its stake in Edwards Lifesciences by 12.2% during the 1st quarter. Mather Group LLC. now owns 4,142 shares of the medical research company's stock valued at $300,000 after acquiring an additional 450 shares in the last quarter. Alta Advisers Ltd purchased a new position in Edwards Lifesciences during the first quarter valued at approximately $231,000. Hixon Zuercher LLC increased its stake in Edwards Lifesciences by 21.6% in the 1st quarter. Hixon Zuercher LLC now owns 30,505 shares of the medical research company's stock valued at $2,211,000 after buying an additional 5,421 shares during the period. Townsend & Associates Inc lifted its position in Edwards Lifesciences by 18.8% in the 1st quarter. Townsend & Associates Inc now owns 214,799 shares of the medical research company's stock worth $14,864,000 after buying an additional 34,048 shares in the last quarter. Finally, Tradewinds Capital Management LLC lifted its position in Edwards Lifesciences by 102.5% in the 1st quarter. Tradewinds Capital Management LLC now owns 405 shares of the medical research company's stock worth $29,000 after buying an additional 205 shares in the last quarter. Hedge funds and other 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.