Edwards Lifesciences (NYSE:EW) PT Raised to $101.00 at Royal Bank of Canada

Edwards Lifesciences (NYSE:EW) had its price objective upped by analysts at Royal Bank of Canada from $95.00 to $101.00 in a research note issued to investors on Monday, Benzinga reports. The firm presently has an “outperform” rating on the medical research company’s stock. Royal Bank of Canada’s price target points to a potential upside of 13.08% from the stock’s current price.

A number of other brokerages have also issued reports on EW. Oppenheimer boosted 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. Wells Fargo & Company upgraded shares of Edwards Lifesciences from an “equal weight” rating to an “overweight” rating and set a $94.00 target price for the company in a report on Friday, February 2nd. Stifel Nicolaus upped their price target on shares of Edwards Lifesciences from $70.00 to $83.00 and gave the company a “hold” rating in a research report on Wednesday, February 7th. Morgan Stanley boosted their target price on shares of Edwards Lifesciences from $95.00 to $103.00 and gave the company an “overweight” rating in a research note on Thursday, March 21st. Finally, Mizuho increased their target price on Edwards Lifesciences from $95.00 to $105.00 and gave the company a “buy” rating in a report on Thursday. 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 stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $91.73.

Edwards Lifesciences Price Performance

Shares of Edwards Lifesciences stock traded down $0.96 on Monday, hitting $89.32. The company had a trading volume of 1,846,823 shares, compared to its average volume of 3,891,189. Edwards Lifesciences has a 52 week low of $60.57 and a 52 week high of $96.12. The company has a market cap of $53.76 billion, a PE ratio of 38.90, a PEG ratio of 4.47 and a beta of 1.05. The business has a 50-day simple moving average of $90.01 and a 200-day simple moving average of $77.79. The company has a debt-to-equity ratio of 0.09, a current ratio of 3.38 and a quick ratio of 2.40.

Edwards Lifesciences (NYSE:EW) last issued its quarterly earnings results on Tuesday, February 6th. The medical research company reported $0.64 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.64. The company had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.50 billion. Edwards Lifesciences had a return on equity of 23.56% and a net margin of 23.35%. The firm’s revenue for the quarter was up 13.3% on a year-over-year basis. During the same period last year, the firm earned $0.64 EPS. Research analysts expect that Edwards Lifesciences will post 2.76 EPS for the current fiscal year.

Insider Buying and Selling

In related news, VP Jean-Luc M. Lemercier sold 14,400 shares of the business’s stock in a transaction dated 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 Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Scott B. Ullem sold 7,255 shares of the company’s stock in a transaction on 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 transaction, the chief financial officer now directly owns 19,248 shares in the company, valued at $1,506,925.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Jean-Luc M. Lemercier sold 14,400 shares of the business’s stock in a transaction on Monday, April 8th. The shares were sold at an average price of $92.32, for a total transaction of $1,329,408.00. Following the completion of the sale, the vice president now directly owns 173,849 shares in the company, valued at approximately $16,049,739.68. The disclosure for this sale can be found here. In the last ninety days, insiders sold 194,004 shares of company stock worth $17,166,254. 1.29% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Castleview Partners LLC bought a new position in shares of Edwards Lifesciences during the 1st quarter worth approximately $25,000. Riverview Trust Co acquired a new stake in shares of Edwards Lifesciences in the 1st quarter valued at $34,000. DSM Capital Partners LLC acquired a new position in Edwards Lifesciences in the fourth quarter valued at about $28,000. Compass Wealth Management LLC bought a new stake in Edwards Lifesciences during the 4th quarter worth approximately $31,000. Finally, Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Edwards Lifesciences in the fourth quarter valued at $34,000. Institutional investors and hedge funds 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.