Edwards Lifesciences (NYSE:EW) PT Raised to $98.00

Edwards Lifesciences (NYSE:EWGet Free Report) had its price objective increased by investment analysts at Citigroup from $90.00 to $98.00 in a report issued on Wednesday, Benzinga reports. The brokerage presently has a “neutral” rating on the medical research company’s stock. Citigroup’s target price indicates a potential upside of 4.17% from the stock’s current price.

Several other research firms have also issued reports on EW. OTR Global upgraded Edwards Lifesciences from a “mixed” rating to a “positive” rating in a research report on Tuesday, March 26th. Mizuho lifted their price objective on Edwards Lifesciences from $85.00 to $95.00 and gave the stock a “buy” rating in a research report on Wednesday, February 7th. Bank of America upgraded Edwards Lifesciences from a “neutral” rating to a “buy” rating in a research report on Thursday, March 7th. Oppenheimer lifted their price objective 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, Stifel Nicolaus lifted their price objective on Edwards Lifesciences from $70.00 to $83.00 and gave the stock a “hold” rating in a research report on Wednesday, February 7th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $89.67.

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Edwards Lifesciences Trading Down 0.2 %

EW traded down $0.23 on Wednesday, hitting $94.08. 769,660 shares of the company were exchanged, compared to its average volume of 3,994,590. The firm has a fifty day simple moving average of $87.52 and a two-hundred day simple moving average of $76.61. 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 has a 12 month low of $60.57 and a 12 month high of $96.12. The stock has a market capitalization of $56.63 billion, a PE ratio of 40.90, a price-to-earnings-growth ratio of 4.67 and a beta of 1.05.

Edwards Lifesciences (NYSE:EWGet Free Report) last posted its quarterly earnings results on Tuesday, February 6th. The medical research company reported $0.64 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.64. Edwards Lifesciences had a return on equity of 23.56% and a net margin of 23.35%. The business had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same period last year, the company earned $0.64 EPS. Edwards Lifesciences’s revenue for the quarter was up 13.3% compared to the same quarter last year. Sell-side analysts expect that Edwards Lifesciences will post 2.76 earnings per share for the current year.

Insider Activity

In other Edwards Lifesciences news, CFO Scott B. Ullem sold 7,255 shares of Edwards Lifesciences stock in a transaction on Monday, April 1st. The stock was sold at an average price of $94.89, for a total transaction of $688,426.95. Following the completion of the transaction, the chief financial officer now owns 19,074 shares in the company, valued at $1,809,931.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, VP Donald E. Bobo, Jr. sold 14,500 shares of Edwards Lifesciences stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $91.01, for a total value of $1,319,645.00. Following the completion of the sale, the vice president now owns 39,503 shares of the company’s stock, valued at $3,595,168.03. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Scott B. Ullem sold 7,255 shares of Edwards Lifesciences stock in a transaction on Monday, April 1st. The stock was sold at an average price of $94.89, for a total value of $688,426.95. Following the completion of the sale, the chief financial officer now directly owns 19,074 shares of the company’s stock, valued at approximately $1,809,931.86. The disclosure for this sale can be found here. Insiders sold a total of 189,604 shares of company stock worth $16,022,982 in the last quarter. 1.29% of the stock is owned by company insiders.

Institutional Trading of Edwards Lifesciences

Several large investors have recently modified their holdings of the company. Advisors Asset Management Inc. increased its holdings in Edwards Lifesciences by 0.3% during the 1st quarter. Advisors Asset Management Inc. now owns 43,556 shares of the medical research company’s stock worth $5,127,000 after purchasing an additional 117 shares during the period. Apollon Wealth Management LLC increased its holdings in Edwards Lifesciences by 1.0% during the 1st quarter. Apollon Wealth Management LLC now owns 12,487 shares of the medical research company’s stock worth $1,033,000 after purchasing an additional 119 shares during the period. Geller Advisors LLC increased its holdings in Edwards Lifesciences by 6.5% during the 1st quarter. Geller Advisors LLC now owns 1,965 shares of the medical research company’s stock worth $231,000 after purchasing an additional 120 shares during the period. Martin Capital Advisors LLP increased its holdings in Edwards Lifesciences by 0.5% during the 4th quarter. Martin Capital Advisors LLP now owns 25,490 shares of the medical research company’s stock worth $1,944,000 after purchasing an additional 128 shares during the period. Finally, Legacy Wealth Asset Management LLC increased its holdings in Edwards Lifesciences by 0.8% during the 4th quarter. Legacy Wealth Asset Management LLC now owns 16,958 shares of the medical research company’s stock worth $1,293,000 after purchasing an additional 134 shares during the period. Institutional investors own 79.46% of the company’s stock.

About Edwards Lifesciences

(Get Free Report)

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.

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