Canaccord Genuity Group Lowers Edwards Lifesciences (NYSE:EW) Price Target to $66.00

Edwards Lifesciences (NYSE:EW - Get Free Report) had its price target cut by Canaccord Genuity Group from $77.00 to $66.00 in a report released on Monday, Benzinga reports. The firm currently has a "hold" rating on the medical research company's stock. Canaccord Genuity Group's price target points to a potential upside of 2.28% from the stock's previous close.

Several other research firms have also recently weighed in on EW. Wells Fargo & Company cut their price objective on Edwards Lifesciences from $90.00 to $80.00 and set an "overweight" rating on the stock in a research report on Monday, September 9th. StockNews.com lowered shares of Edwards Lifesciences from a "buy" rating to a "hold" rating in a research report on Thursday, July 25th. Piper Sandler lowered their price objective on shares of Edwards Lifesciences from $88.00 to $73.00 and set a "neutral" rating on the stock in a research report on Thursday, July 25th. Wolfe Research raised shares of Edwards Lifesciences from an "underperform" rating to a "peer perform" rating in a research report on Monday, July 29th. Finally, UBS Group lowered their price target on shares of Edwards Lifesciences from $90.00 to $75.00 and set a "neutral" rating on the stock in a report on Tuesday, September 10th. Sixteen equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Edwards Lifesciences presently has an average rating of "Hold" and an average target price of $77.73.

Edwards Lifesciences Stock Down 1.5 %

Shares of NYSE EW traded down $0.96 during trading on Monday, hitting $64.53. 1,405,516 shares of the company traded hands, compared to its average volume of 4,544,576. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.87 and a current ratio of 3.71. The business's fifty day moving average is $66.64 and its 200 day moving average is $80.91. The firm has a market capitalization of $38.89 billion, a price-to-earnings ratio of 27.86, a P/E/G ratio of 2.80 and a beta of 1.13. Edwards Lifesciences has a fifty-two week low of $58.93 and a fifty-two week high of $96.12.

Edwards Lifesciences (NYSE:EW - Get Free Report) last posted its earnings results on Wednesday, July 24th. The medical research company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.69 by $0.01. The company had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.65 billion. Edwards Lifesciences had a net margin of 24.55% and a return on equity of 22.35%. The firm's revenue for the quarter was up 6.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.66 earnings per share. Equities research analysts predict that Edwards Lifesciences will post 2.71 earnings per share for the current fiscal year.

Insider Transactions at Edwards Lifesciences

In other Edwards Lifesciences news, VP Donald E. Bobo, Jr. sold 5,000 shares of the company's stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $66.77, for a total transaction of $333,850.00. Following the transaction, the vice president now owns 46,936 shares in the company, valued at approximately $3,133,916.72. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, VP Daveen Chopra sold 1,250 shares of the company's stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $69.95, for a total value of $87,437.50. Following the transaction, the vice president now owns 29,333 shares in the company, valued at approximately $2,051,843.35. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Donald E. Bobo, Jr. sold 5,000 shares of the firm's stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $66.77, for a total transaction of $333,850.00. Following the sale, the vice president now directly owns 46,936 shares of the company's stock, valued at $3,133,916.72. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 16,250 shares of company stock worth $1,218,138. Company insiders own 1.29% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its position in Edwards Lifesciences by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 52,964,394 shares of the medical research company's stock worth $5,061,277,000 after purchasing an additional 600,994 shares during the period. Bank of New York Mellon Corp grew its position in Edwards Lifesciences by 4.3% during the second quarter. Bank of New York Mellon Corp now owns 19,782,909 shares of the medical research company's stock valued at $1,827,347,000 after buying an additional 809,605 shares during the period. Wellington Management Group LLP increased its holdings in Edwards Lifesciences by 2.4% during the fourth quarter. Wellington Management Group LLP now owns 16,827,510 shares of the medical research company's stock valued at $1,283,098,000 after buying an additional 393,109 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in Edwards Lifesciences by 57.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,516,260 shares of the medical research company's stock worth $622,695,000 after acquiring an additional 2,390,137 shares during the period. Finally, Champlain Investment Partners LLC boosted its stake in shares of Edwards Lifesciences by 3.1% during the 1st quarter. Champlain Investment Partners LLC now owns 2,964,168 shares of the medical research company's stock worth $283,256,000 after acquiring an additional 88,205 shares during the last quarter. 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.

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