Edwards Lifesciences (NYSE:EW) Price Target Raised to $75.00

Edwards Lifesciences (NYSE:EW - Get Free Report) had its price target upped by equities research analysts at Morgan Stanley from $70.00 to $75.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has an "equal weight" rating on the medical research company's stock. Morgan Stanley's target price points to a potential downside of 1.61% from the stock's previous close.

EW has been the topic of several other reports. The Goldman Sachs Group raised their price objective on Edwards Lifesciences from $81.00 to $90.00 and gave the company a "buy" rating in a research note on Thursday, December 5th. Citigroup raised their price target on shares of Edwards Lifesciences from $81.00 to $83.00 and gave the company a "buy" rating in a research report on Wednesday, December 11th. Daiwa America downgraded shares of Edwards Lifesciences from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, October 30th. Piper Sandler dropped their target price on shares of Edwards Lifesciences from $73.00 to $70.00 and set a "neutral" rating on the stock in a research report on Friday, October 25th. Finally, Bank of America raised Edwards Lifesciences from a "neutral" rating to a "buy" rating and upped their target price for the company from $82.00 to $90.00 in a report on Monday, December 16th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $79.95.

Edwards Lifesciences Stock Up 0.3 %

Shares of NYSE:EW traded up $0.23 during midday trading on Wednesday, hitting $76.23. 3,899,190 shares of the company's stock were exchanged, compared to its average volume of 4,438,355. 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 has a 12 month low of $58.93 and a 12 month high of $96.12. The company has a market cap of $44.96 billion, a PE ratio of 11.00, a price-to-earnings-growth ratio of 3.64 and a beta of 1.10. The stock has a 50 day moving average price of $72.67 and a 200-day moving average price of $69.58.

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

Insiders Place Their Bets

In related news, VP Daniel J. Lippis sold 500 shares of the company's stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $68.76, for a total transaction of $34,380.00. Following the sale, the vice president now owns 23,189 shares of the company's stock, valued at approximately $1,594,475.64. This represents a 2.11 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Steven R. Loranger sold 5,739 shares of the firm's stock in a transaction on 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 transaction, the director now directly owns 60,372 shares of the company's stock, valued at approximately $4,613,628.24. The trade was a 8.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 26,489 shares of company stock worth $2,002,829 over the last 90 days. Corporate insiders own 1.29% of the company's stock.

Institutional Investors Weigh In On Edwards Lifesciences

Institutional investors and hedge funds have recently made changes to their positions in the business. Alpha Financial Partners LLC purchased a new position in Edwards Lifesciences in the 3rd quarter worth approximately $693,000. Koshinski Asset Management Inc. bought a new stake in shares of Edwards Lifesciences during the 3rd quarter worth $396,000. Vontobel Holding Ltd. grew its position in Edwards Lifesciences by 5.7% in the third quarter. Vontobel Holding Ltd. now owns 439,106 shares of the medical research company's stock worth $28,977,000 after acquiring an additional 23,560 shares in the last quarter. nVerses Capital LLC bought a new position in Edwards Lifesciences in the third quarter valued at $792,000. Finally, Trust Co. of Vermont raised its position in Edwards Lifesciences by 36.1% during the third quarter. Trust Co. of Vermont now owns 3,019 shares of the medical research company's stock valued at $199,000 after purchasing an additional 801 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.