Edwards Lifesciences (NYSE:EW) Downgraded by Wall Street Zen to Hold

Wall Street Zen downgraded shares of Edwards Lifesciences (NYSE:EW) from a buy rating to a hold rating in a report published on Saturday,Wall Street Zen reports.

Other equities analysts have also issued research reports about the company. Royal Bank Of Canada raised their price objective on Edwards Lifesciences from $100.00 to $110.00 and gave the stock an “outperform” rating in a research note on Monday, July 13th. TD Cowen reiterated a “buy” rating on shares of Edwards Lifesciences in a research report on Tuesday. Argus increased their target price on Edwards Lifesciences from $105.00 to $115.00 and gave the stock a “buy” rating in a report on Friday, August 21st. Weiss Ratings reissued a “hold (c)” rating on shares of Edwards Lifesciences in a report on Thursday, October 15th. Finally, Barclays upgraded Edwards Lifesciences to a “strong-buy” rating in a research report on Wednesday, October 7th. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $101.16.

Edwards Lifesciences Price Performance

Shares of Edwards Lifesciences stock opened at $91.91 on Friday. The company has a quick ratio of 3.77, a current ratio of 4.52 and a debt-to-equity ratio of 0.06. Edwards Lifesciences has a twelve month low of $74.66 and a twelve month high of $96.29. The company has a 50-day simple moving average of $88.15 and a two-hundred day simple moving average of $85.43. The stock has a market capitalization of $52.92 billion, a price-to-earnings ratio of 52.82, a price-to-earnings-growth ratio of 2.41 and a beta of 0.87.

Insider Buying and Selling

In other news, SVP Andrew M. Dahl sold 544 shares of the firm’s stock in a transaction on Monday, August 31st. The shares were sold at an average price of $91.06, for a total transaction of $49,536.64. Following the completion of the transaction, the senior vice president owned 14,868 shares of the company’s stock, valued at approximately $1,353,880.08. This trade represents a 3.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Daniel J. Lippis sold 619 shares of Edwards Lifesciences stock in a transaction dated Thursday, October 8th. The stock was sold at an average price of $85.65, for a total value of $53,017.35. Following the transaction, the vice president directly owned 40,034 shares in the company, valued at $3,428,912.10. The trade was a 1.52% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 5,045 shares of company stock worth $451,596 in the last 90 days. Insiders own 0.31% of the company’s stock.

Institutional Investors Weigh In On Edwards Lifesciences

A number of institutional investors have recently modified their holdings of the company. Pin Oak Investment Advisors Inc. purchased a new stake in shares of Edwards Lifesciences during the 2nd quarter valued at about $26,000. TrinityBridge Ltd purchased a new position in Edwards Lifesciences in the second quarter worth about $27,000. GK Wealth Management LLC bought a new stake in shares of Edwards Lifesciences during the 3rd quarter valued at about $26,000. RMG Wealth Management LLC bought a new stake in shares of Edwards Lifesciences during the 1st quarter valued at about $26,000. Finally, Compass Financial Management LLC purchased a new stake in shares of Edwards Lifesciences during the 2nd quarter valued at about $32,000. 79.46% of the stock is owned by institutional investors.

Edwards Lifesciences Company Profile

Edwards Lifesciences Corporation (NYSE:EW) is a medical technology company focused on therapies for structural heart disease and critical care. The company develops and manufactures products designed to treat conditions affecting the heart’s valves, including aortic, mitral and tricuspid valve disorders.

Its portfolio includes transcatheter aortic valve replacement systems, transcatheter mitral and tricuspid therapies, surgical heart valves and valve-repair technologies. Edwards also provides related delivery systems and other medical devices used by physicians in minimally invasive and open-heart procedures.

Founded in 1958 by Miles Lowell Edwards, the company is headquartered in Irvine, California, and serves healthcare providers and patients internationally.