Barclays Raises Edwards Lifesciences (NYSE:EW) Price Target to $101.00

Edwards Lifesciences (NYSE:EW) had its price objective boosted by research analysts at Barclays from $100.00 to $101.00 in a report issued on Tuesday, Benzinga reports. The brokerage currently has an “overweight” rating on the medical research company’s stock. Barclays‘s target price would suggest a potential upside of 17.55% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the company. StockNews.com raised Edwards Lifesciences from a “hold” rating to a “buy” rating in a report on Monday, April 29th. Oppenheimer lifted their price target on shares of Edwards Lifesciences from $93.00 to $100.00 and gave the stock an “outperform” rating in a research note on Monday, March 18th. Stifel Nicolaus raised their price target on shares of Edwards Lifesciences from $83.00 to $85.00 and gave the stock a “hold” rating in a research note on Friday, April 26th. Piper Sandler boosted their price target on Edwards Lifesciences from $85.00 to $88.00 and gave the company a “neutral” rating in a research note on Friday, April 26th. Finally, Evercore ISI lowered their target price on shares of Edwards Lifesciences from $92.00 to $89.00 and set an “in-line” rating on the stock in a report on Friday, April 26th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, Edwards Lifesciences presently has an average rating of “Moderate Buy” and a consensus price target of $93.27.

Edwards Lifesciences Stock Performance

NYSE EW traded up $0.83 during trading on Tuesday, hitting $85.92. The company’s stock had a trading volume of 532,445 shares, compared to its average volume of 3,719,978. Edwards Lifesciences has a 52 week low of $60.57 and a 52 week high of $96.12. The firm has a 50 day moving average price of $90.06 and a 200 day moving average price of $79.58. The firm has a market cap of $51.78 billion, a P/E ratio of 36.94, a price-to-earnings-growth ratio of 3.59 and a beta of 1.10. The company has a quick ratio of 2.67, a current ratio of 3.75 and a debt-to-equity ratio of 0.08.

Edwards Lifesciences (NYSE:EW) last issued its quarterly earnings results on Thursday, April 25th. The medical research company reported $0.66 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.02. Edwards Lifesciences had a net margin of 23.01% and a return on equity of 22.86%. The firm had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.58 billion. Equities research analysts forecast that Edwards Lifesciences will post 2.77 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 business’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $84.21, for a total transaction of $1,212,624.00. Following the completion of the sale, the vice president now owns 173,849 shares in the company, valued at approximately $14,639,824.29. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Michael A. Mussallem sold 29,350 shares of the stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $84.77, for a total value of $2,487,999.50. Following the transaction, the director now owns 4,486 shares of the company’s stock, valued at approximately $380,278.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Jean-Luc M. Lemercier sold 14,400 shares of the company’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $84.21, for a total transaction of $1,212,624.00. Following the sale, the vice president now owns 173,849 shares of the company’s stock, valued at $14,639,824.29. The disclosure for this sale can be found here. In the last three months, insiders have sold 237,749 shares of company stock valued at $20,920,934. 1.27% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Edwards Lifesciences

Institutional investors and hedge funds have recently modified their holdings of the stock. Cambridge Investment Research Advisors Inc. boosted its holdings in shares of Edwards Lifesciences by 2.6% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 39,392 shares of the medical research company’s stock valued at $2,729,000 after acquiring an additional 1,011 shares during the last quarter. Verdence Capital Advisors LLC boosted its holdings in Edwards Lifesciences by 16.3% in the third quarter. Verdence Capital Advisors LLC now owns 9,321 shares of the medical research company’s stock worth $646,000 after purchasing an additional 1,303 shares during the last quarter. Mackenzie Financial Corp grew its position in Edwards Lifesciences by 13.7% in the 3rd quarter. Mackenzie Financial Corp now owns 159,116 shares of the medical research company’s stock worth $11,074,000 after purchasing an additional 19,208 shares during the period. Inspire Advisors LLC purchased a new stake in Edwards Lifesciences during the 3rd quarter valued at $545,000. Finally, Gratus Capital LLC lifted its holdings in shares of Edwards Lifesciences by 1.4% during the 3rd quarter. Gratus Capital LLC now owns 14,187 shares of the medical research company’s stock valued at $983,000 after buying an additional 194 shares during the period. 79.46% of the stock is owned by hedge funds and other institutional investors.

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.