Evercore ISI Lowers Edwards Lifesciences (NYSE:EW) Price Target to $89.00

Edwards Lifesciences (NYSE:EW) had its target price dropped by investment analysts at Evercore ISI from $92.00 to $89.00 in a note issued to investors on Friday, Benzinga reports. The brokerage currently has an “in-line” rating on the medical research company’s stock. Evercore ISI’s price objective would indicate a potential upside of 2.69% from the company’s previous close.

A number of other equities research analysts also recently weighed in on the stock. Royal Bank of Canada lifted their price target on shares of Edwards Lifesciences from $95.00 to $101.00 and gave the stock an “outperform” rating in a research note on Monday, April 15th. OTR Global upgraded shares of Edwards Lifesciences from a “mixed” rating to a “positive” rating in a research note on Tuesday, March 26th. Stifel Nicolaus boosted their target price on shares of Edwards Lifesciences from $83.00 to $85.00 and gave the company a “hold” rating in a research note on Friday. StockNews.com downgraded shares of Edwards Lifesciences from a “buy” rating to a “hold” rating in a research note on Wednesday, March 20th. Finally, Mizuho lifted their price target on Edwards Lifesciences from $95.00 to $105.00 and gave the company a “buy” rating in a report on Thursday, April 11th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $93.00.

Edwards Lifesciences Stock Performance

Shares of NYSE:EW traded down $1.34 during trading on Friday, reaching $86.67. The stock had a trading volume of 2,796,839 shares, compared to its average volume of 3,815,568. Edwards Lifesciences has a 52 week low of $60.57 and a 52 week high of $96.12. The firm has a market capitalization of $52.17 billion, a price-to-earnings ratio of 37.67, a P/E/G ratio of 4.39 and a beta of 1.05. The company has a quick ratio of 2.40, a current ratio of 3.38 and a debt-to-equity ratio of 0.09. The stock has a fifty day simple moving average of $90.27 and a two-hundred day simple moving average of $78.76.

Edwards Lifesciences (NYSE:EW) last announced its earnings results on Thursday, April 25th. The medical research company reported $0.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.02. Edwards Lifesciences had a net margin of 23.35% and a return on equity of 23.56%. The business had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.58 billion. As a group, analysts anticipate that Edwards Lifesciences will post 2.76 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Edwards Lifesciences news, VP Jean-Luc M. Lemercier sold 14,400 shares of the company’s stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $92.32, for a total transaction of $1,329,408.00. Following the completion of the transaction, the vice president now owns 173,849 shares of the company’s stock, valued at approximately $16,049,739.68. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, VP Jean-Luc M. Lemercier sold 14,400 shares of the stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $92.32, for a total value of $1,329,408.00. Following the completion of the sale, the vice president now owns 173,849 shares of the company’s stock, valued at approximately $16,049,739.68. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Donald E. Bobo, Jr. sold 11,000 shares of the stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $85.83, for a total value of $944,130.00. Following the completion of the sale, the vice president now directly owns 39,503 shares of the company’s stock, valued at approximately $3,390,542.49. The disclosure for this sale can be found here. Insiders sold a total of 194,004 shares of company stock valued at $17,166,254 in the last quarter. 1.29% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Edwards Lifesciences

A number of large investors have recently added to or reduced their stakes in EW. DSM Capital Partners LLC bought a new position in Edwards Lifesciences during the 4th quarter worth $28,000. Turtle Creek Wealth Advisors LLC bought a new position in Edwards Lifesciences during the 4th quarter worth $34,000. Riverview Trust Co bought a new position in Edwards Lifesciences during the 1st quarter worth $34,000. Pingora Partners LLC bought a new position in Edwards Lifesciences during the 4th quarter worth $38,000. Finally, Operose Advisors LLC increased its position in Edwards Lifesciences by 247.0% during the 3rd quarter. Operose Advisors LLC now owns 635 shares of the medical research company’s stock worth $44,000 after buying an additional 452 shares during the period. 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.