Brokerages Set Edwards Lifesciences Co. (NYSE:EW) Price Target at $79.95

Shares of Edwards Lifesciences Co. (NYSE:EW - Get Free Report) have received an average recommendation of "Hold" from the twenty-five research firms that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, thirteen have issued a hold recommendation and eleven have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $79.95.

A number of brokerages recently commented on EW. Evercore ISI reduced their price target on Edwards Lifesciences from $75.00 to $73.00 and set an "in-line" rating for the company in a report on Wednesday, February 12th. Canaccord Genuity Group increased their target price on Edwards Lifesciences from $68.00 to $71.00 and gave the company a "hold" rating in a research note on Thursday, February 13th. Bank of America upgraded shares of Edwards Lifesciences from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $82.00 to $90.00 in a research note on Monday, December 16th. Citigroup increased their price objective on shares of Edwards Lifesciences from $81.00 to $83.00 and gave the company a "buy" rating in a research note on Wednesday, December 11th. Finally, Truist Financial reissued a "hold" rating and issued a $78.00 target price (up previously from $70.00) on shares of Edwards Lifesciences in a research report on Thursday, December 5th.

Edwards Lifesciences Stock Down 0.4 %

Shares of EW traded down $0.29 during mid-day trading on Tuesday, reaching $70.90. 4,513,774 shares of the stock traded hands, compared to its average volume of 4,805,465. The stock has a fifty day simple moving average of $71.47 and a 200 day simple moving average of $70.46. Edwards Lifesciences has a 12-month low of $58.93 and a 12-month high of $96.12. The company has a quick ratio of 2.89, a current ratio of 3.46 and a debt-to-equity ratio of 0.06. The firm has a market cap of $41.68 billion, a price-to-earnings ratio of 10.17, a P/E/G ratio of 4.82 and a beta of 1.12.

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Edwards Lifesciences (NYSE:EW - Get Free Report) last released its quarterly earnings results on Tuesday, February 11th. The medical research company reported $0.59 earnings per share for the quarter, beating analysts' consensus estimates of $0.55 by $0.04. Edwards Lifesciences had a net margin of 72.93% and a return on equity of 19.40%. Sell-side analysts expect that Edwards Lifesciences will post 2.45 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Steven R. Loranger sold 5,739 shares of Edwards Lifesciences stock in a transaction on Friday, February 14th. The stock was sold at an average price of $76.42, for a total transaction of $438,574.38. Following the transaction, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Scott B. Ullem sold 11,250 shares of the company's stock in a transaction on Wednesday, March 26th. The shares were sold at an average price of $70.87, for a total value of $797,287.50. Following the completion of the sale, the chief financial officer now owns 30,387 shares of the company's stock, valued at approximately $2,153,526.69. This trade represents a 27.02 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 62,553 shares of company stock worth $4,513,064. 1.29% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Edwards Lifesciences

Several large investors have recently made changes to their positions in EW. Crowley Wealth Management Inc. acquired a new stake in Edwards Lifesciences during the fourth quarter valued at approximately $26,000. Vega Investment Solutions bought a new position in shares of Edwards Lifesciences in the fourth quarter valued at $27,000. Millstone Evans Group LLC acquired a new stake in shares of Edwards Lifesciences during the 4th quarter valued at $29,000. FSA Wealth Management LLC bought a new stake in shares of Edwards Lifesciences during the 3rd quarter worth $30,000. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Edwards Lifesciences in the 4th quarter worth $30,000. Institutional investors own 79.46% of the company's stock.

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.