Edwards Lifesciences (NYSE:EW) Price Target Raised to $121.00

Edwards Lifesciences (NYSE:EW) had its target price raised by TD Cowen from $117.00 to $121.00 in a research note issued on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the medical research company’s stock. TD Cowen‘s price target would indicate a potential upside of 15.68% from the company’s previous close.

Other research analysts have also issued research reports about the stock. Weiss Ratings upgraded shares of Edwards Lifesciences from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday. Sanford C. Bernstein boosted their target price on shares of Edwards Lifesciences from $99.00 to $106.00 and gave the stock a “market perform” rating in a report on Thursday, November 5th. Wall Street Zen upgraded shares of Edwards Lifesciences from a “hold” rating to a “buy” rating in a research report on Sunday. UBS Group upped their price target on shares of Edwards Lifesciences from $110.00 to $118.00 and gave the company a “buy” rating in a research report on Thursday, November 5th. Finally, JPMorgan Chase & Co. raised their price target on shares of Edwards Lifesciences from $105.00 to $120.00 and gave the company an “overweight” rating in a research note on Thursday, November 5th. Twenty-three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $109.56.

Edwards Lifesciences Price Performance

EW traded up $0.59 on Wednesday, reaching $104.60. The stock had a trading volume of 744,523 shares, compared to its average volume of 4,523,745. Edwards Lifesciences has a fifty-two week low of $74.66 and a fifty-two week high of $105.37. The firm has a 50-day moving average of $89.47 and a 200-day moving average of $85.98. The company has a current ratio of 4.60, a quick ratio of 3.86 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $60.14 billion, a price-to-earnings ratio of 59.10, a price-to-earnings-growth ratio of 2.79 and a beta of 0.85.

Edwards Lifesciences (NYSE:EW) last posted its earnings results on Wednesday, November 4th. The medical research company reported $0.80 EPS for the quarter, beating the consensus estimate of $0.74 by $0.06. Edwards Lifesciences had a return on equity of 16.06% and a net margin of 15.30%. The firm had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.68 billion. During the same period last year, the company earned $0.67 earnings per share. The business’s quarterly revenue was up 10.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Edwards Lifesciences will post 3.01 EPS for the current year.

Insider Activity

In related news, VP Annette Brüls sold 2,644 shares of Edwards Lifesciences stock in a transaction on Friday, August 28th. The shares were sold at an average price of $89.98, for a total transaction of $237,907.12. Following the completion of the transaction, the vice president owned 17,984 shares of the company’s stock, valued at $1,618,200.32. This trade represents a 12.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Andrew M. Dahl sold 544 shares of the business’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 in the company, valued at approximately $1,353,880.08. The trade was a 3.53% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 53,945 shares of company stock valued at $5,498,306. Company insiders own 0.31% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in EW. BlackRock Inc. acquired a new stake in shares of Edwards Lifesciences during the 2nd quarter worth approximately $5,318,092,000. Varma Mutual Pension Insurance Co bought a new stake in shares of Edwards Lifesciences in the 2nd quarter valued at $11,168,000. Assenagon Asset Management S.A. lifted its position in shares of Edwards Lifesciences by 50.0% during the 3rd quarter. Assenagon Asset Management S.A. now owns 2,719,271 shares of the medical research company’s stock valued at $234,727,000 after acquiring an additional 906,345 shares during the period. Conway Capital Management Inc. acquired a new position in shares of Edwards Lifesciences during the 2nd quarter valued at $954,000. Finally, Commerce Bank acquired a new position in shares of Edwards Lifesciences during the 2nd quarter valued at $3,121,000. 79.46% of the stock is owned by institutional investors.

About Edwards Lifesciences

Edwards Lifesciences is a medical technology company focused on therapies for structural heart disease and critical care. Its products include transcatheter and surgical heart valves, as well as technologies used to monitor patients during intensive care and surgery. The company traces its origins to 1958, when engineer Lowell Edwards and surgeon Albert Starr began developing an artificial heart valve. Their work led to the Starr-Edwards valve, introduced in 1960. Edwards Lifesciences is headquartered in Irvine, California, and serves clinicians and patients around the world.