Edwards Lifesciences (NYSE:EW) had its target price increased by Canaccord Genuity from $94.00 to $103.00 in a research report report published on Wednesday morning, The Fly reports. The brokerage currently has a buy rating on the medical research company’s stock.
Other research analysts have also recently issued research reports about the stock. Zacks Investment Research cut shares of Edwards Lifesciences from a hold rating to a sell rating and set a $90.00 price target for the company. in a report on Tuesday, December 22nd. Piper Sandler increased their target price on shares of Edwards Lifesciences from $97.00 to $105.00 and gave the stock an overweight rating in a report on Wednesday. Atlantic Securities initiated coverage on shares of Edwards Lifesciences in a report on Thursday, April 15th. They set a neutral rating and a $85.00 target price for the company. Finally, Evercore ISI upgraded shares of Edwards Lifesciences from an in-line rating to an outperform rating in a report on Monday, April 5th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and thirteen have given a buy rating to the company. Edwards Lifesciences has a consensus rating of Hold and a consensus price target of $93.09.
Edwards Lifesciences stock opened at $95.24 on Wednesday. The stock has a market capitalization of $59.24 billion, a PE ratio of 76.19, a price-to-earnings-growth ratio of 2.61 and a beta of 0.97. Edwards Lifesciences has a twelve month low of $66.23 and a twelve month high of $95.96. The company has a quick ratio of 2.61, a current ratio of 3.52 and a debt-to-equity ratio of 0.14. The company has a 50 day moving average of $83.45 and a 200-day moving average of $84.16.
In related news, CEO Michael A. Mussallem sold 68,550 shares of the firm’s stock in a transaction dated Tuesday, February 23rd. The shares were sold at an average price of $84.17, for a total transaction of $5,769,853.50. Following the transaction, the chief executive officer now directly owns 309,770 shares of the company’s stock, valued at $26,073,340.90. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Catherine M. Szyman sold 3,389 shares of the firm’s stock in a transaction dated Tuesday, February 16th. The stock was sold at an average price of $88.20, for a total transaction of $298,909.80. Following the transaction, the vice president now directly owns 30,135 shares in the company, valued at $2,657,907. The disclosure for this sale can be found here. Insiders sold 320,430 shares of company stock worth $26,913,226 over the last three months. Insiders own 1.48% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in EW. Norges Bank bought a new position in Edwards Lifesciences during the fourth quarter worth about $689,483,000. Janus Henderson Group PLC increased its position in Edwards Lifesciences by 32.1% during the fourth quarter. Janus Henderson Group PLC now owns 9,741,014 shares of the medical research company’s stock worth $888,674,000 after acquiring an additional 2,365,014 shares during the period. Bank of New York Mellon Corp increased its position in Edwards Lifesciences by 5.7% during the fourth quarter. Bank of New York Mellon Corp now owns 21,783,830 shares of the medical research company’s stock worth $1,987,339,000 after acquiring an additional 1,181,085 shares during the period. Brown Advisory Inc. grew its stake in Edwards Lifesciences by 7.1% during the fourth quarter. Brown Advisory Inc. now owns 13,581,363 shares of the medical research company’s stock worth $1,239,027,000 after buying an additional 895,789 shares in the last quarter. Finally, Ownership Capital B.V. grew its stake in Edwards Lifesciences by 25.1% during the fourth quarter. Ownership Capital B.V. now owns 4,127,939 shares of the medical research company’s stock worth $376,592,000 after buying an additional 828,870 shares in the last quarter. 80.94% of the stock is currently owned by institutional investors and hedge funds.
About Edwards Lifesciences
Edwards Lifesciences Corporation provides products and technologies for structural heart disease, and critical care and surgical monitoring in the United States, Europe, Japan, and internationally. It offers transcatheter heart valve replacement products for the minimally invasive replacement of heart valves; and transcatheter heart valve repair and replacement products to treat mitral and tricuspid valve diseases.
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