Edwards Lifesciences (NYSE:EW) Stock Rating Upgraded by Daiwa Capital Markets

Daiwa Capital Markets upgraded shares of Edwards Lifesciences (NYSE:EW) from a neutral rating to an outperform rating in a research report sent to investors on Wednesday morning, Marketbeat reports.

Other research analysts have also issued research reports about the company. Stifel Nicolaus reduced their price objective on Edwards Lifesciences from $85.00 to $70.00 and set a hold rating for the company in a research report on Thursday, July 25th. The Goldman Sachs Group lowered their price target on Edwards Lifesciences from $107.00 to $91.00 and set a buy rating for the company in a research report on Friday, July 26th. Oppenheimer cut their price objective on shares of Edwards Lifesciences from $100.00 to $90.00 and set an outperform rating on the stock in a research report on Thursday, July 25th. Piper Sandler decreased their target price on shares of Edwards Lifesciences from $88.00 to $73.00 and set a neutral rating for the company in a report on Thursday, July 25th. Finally, Evercore ISI cut their price target on shares of Edwards Lifesciences from $91.00 to $76.00 and set an in-line rating on the stock in a report on Thursday, July 25th. Fourteen investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Edwards Lifesciences presently has a consensus rating of Moderate Buy and a consensus price target of $82.10.

Edwards Lifesciences Trading Down 1.7 %

EW opened at $60.83 on Wednesday. The stock has a market cap of $36.64 billion, a PE ratio of 26.22, a PEG ratio of 2.57 and a beta of 1.11. The business has a 50 day moving average of $85.32 and a 200-day moving average of $86.49. Edwards Lifesciences has a 52 week low of $58.93 and a 52 week high of $96.12. The company has a quick ratio of 2.87, a current ratio of 3.71 and a debt-to-equity ratio of 0.08.

Edwards Lifesciences (NYSE:EW) last released its earnings results on Wednesday, July 24th. The medical research company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.01. Edwards Lifesciences had a net margin of 24.55% and a return on equity of 22.35%. The firm had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.65 billion. During the same period in the prior year, the firm earned $0.66 EPS. The company’s revenue was up 6.7% compared to the same quarter last year. 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 news, CEO Bernard J. Zovighian bought 580 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The stock was bought at an average price of $85.74 per share, with a total value of $49,729.20. Following the acquisition, the chief executive officer now owns 3,268 shares of the company’s stock, valued at approximately $280,198.32. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Edwards Lifesciences news, CEO Bernard J. Zovighian purchased 580 shares of the company’s stock in a transaction on Monday, May 6th. The stock was acquired at an average cost of $85.74 per share, for a total transaction of $49,729.20. Following the purchase, the chief executive officer now directly owns 3,268 shares of the company’s stock, valued at approximately $280,198.32. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Scott B. Ullem sold 5,625 shares of the company’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $90.45, for a total transaction of $508,781.25. Following the transaction, the chief financial officer now owns 30,561 shares of the company’s stock, valued at approximately $2,764,242.45. The disclosure for this sale can be found here. Insiders sold a total of 30,099 shares of company stock valued at $2,680,879 over the last three months. Corporate insiders own 1.29% of the company’s stock.

Institutional Trading of Edwards Lifesciences

Several hedge funds have recently modified their holdings of EW. Crewe Advisors LLC bought a new stake in Edwards Lifesciences in the first quarter worth $28,000. First Community Trust NA bought a new stake in shares of Edwards Lifesciences in the 2nd quarter worth about $29,000. Riverview Trust Co bought a new position in shares of Edwards Lifesciences in the 1st quarter valued at about $34,000. DSM Capital Partners LLC purchased a new position in Edwards Lifesciences in the fourth quarter worth about $28,000. Finally, Webster Bank N. A. bought a new stake in Edwards Lifesciences during the second quarter worth approximately $39,000. 79.46% of the stock is owned by hedge funds and other institutional investors.

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.