Stifel Nicolaus Boosts Edwards Lifesciences (NYSE:EW) Price Target to $85.00

Edwards Lifesciences (NYSE:EW) had its target price raised by Stifel Nicolaus from $83.00 to $85.00 in a research report report published on Friday morning, Benzinga reports. Stifel Nicolaus currently has a hold rating on the medical research company’s stock.

Several other equities research analysts also recently weighed in on EW. Wells Fargo & Company raised Edwards Lifesciences from an equal weight rating to an overweight rating and set a $94.00 price objective on the stock in a report on Friday, February 2nd. Piper Sandler raised their target price on Edwards Lifesciences from $85.00 to $88.00 and gave the stock a neutral rating in a research report on Friday. Morgan Stanley raised their target price on Edwards Lifesciences from $95.00 to $103.00 and gave the stock an overweight rating in a research report on Thursday, March 21st. Oppenheimer raised their target price on Edwards Lifesciences from $93.00 to $100.00 and gave the stock an outperform rating in a research report on Monday, March 18th. Finally, Evercore ISI raised their target price on Edwards Lifesciences from $86.00 to $92.00 and gave the stock an in-line rating in a research report on Thursday, April 4th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and an average target price of $93.33.

Edwards Lifesciences Trading Down 1.8 %

Shares of EW stock opened at $86.43 on Friday. The stock’s fifty day moving average price is $90.28 and its two-hundred day moving average price is $78.85. The company has a market cap of $52.02 billion, a PE ratio of 37.25, a P/E/G ratio of 4.36 and a beta of 1.05. Edwards Lifesciences has a fifty-two week low of $60.57 and a fifty-two week high of $96.12. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.40 and a current ratio of 3.38.

Edwards Lifesciences (NYSE:EW) last released its quarterly earnings data on Thursday, April 25th. The medical research company reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.02. Edwards Lifesciences had a return on equity of 23.34% and a net margin of 23.01%. The company had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.58 billion. Equities analysts predict that Edwards Lifesciences will post 2.76 EPS for the current fiscal year.

Insider Activity

In other news, CFO Scott B. Ullem sold 7,255 shares of the firm’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $78.29, for a total value of $567,993.95. Following the completion of the sale, the chief financial officer now directly owns 19,248 shares in the company, valued at approximately $1,506,925.92. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Edwards Lifesciences news, Director Heisz Leslie Stone sold 7,056 shares of Edwards Lifesciences stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $86.45, for a total transaction of $609,991.20. Following the completion of the transaction, the director now owns 26,980 shares in the company, valued at approximately $2,332,421. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Scott B. Ullem sold 7,255 shares of Edwards Lifesciences stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $78.29, for a total value of $567,993.95. Following the transaction, the chief financial officer now owns 19,248 shares of the company’s stock, valued at approximately $1,506,925.92. The disclosure for this sale can be found here. Insiders sold a total of 194,004 shares of company stock worth $17,166,254 in the last three months. Company insiders own 1.29% of the company’s stock.

Hedge Funds Weigh In On Edwards Lifesciences

A number of hedge funds and other institutional investors have recently modified their holdings of EW. Norges Bank purchased a new position in shares of Edwards Lifesciences in the 4th quarter worth approximately $648,540,000. Brown Advisory Inc. boosted its stake in shares of Edwards Lifesciences by 20.1% in the 4th quarter. Brown Advisory Inc. now owns 18,181,420 shares of the medical research company’s stock worth $1,386,333,000 after buying an additional 3,048,274 shares during the last quarter. WELLCOME TRUST LTD THE as trustee of the WELLCOME TRUST raised its holdings in Edwards Lifesciences by 440.0% during the 3rd quarter. WELLCOME TRUST LTD THE as trustee of the WELLCOME TRUST now owns 3,510,000 shares of the medical research company’s stock valued at $243,173,000 after acquiring an additional 2,860,000 shares during the period. CIBC Private Wealth Group LLC raised its holdings in Edwards Lifesciences by 197.0% during the 4th quarter. CIBC Private Wealth Group LLC now owns 3,446,758 shares of the medical research company’s stock valued at $262,815,000 after acquiring an additional 2,286,119 shares during the period. Finally, AustralianSuper Pty Ltd bought a new stake in Edwards Lifesciences during the 4th quarter valued at $168,519,000. Hedge funds and other institutional investors own 79.46% of the company’s stock.

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.