Canaccord Genuity Group Forecasts Strong Price Appreciation for Edwards Lifesciences (NYSE:EW) Stock

Edwards Lifesciences (NYSE:EW) had its price target increased by Canaccord Genuity Group from $71.00 to $75.00 in a research note issued to investors on Friday,Benzinga reports. They currently have a hold rating on the medical research company’s stock.

Other analysts have also recently issued research reports about the stock. Barclays lifted their price target on shares of Edwards Lifesciences from $88.00 to $90.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Robert W. Baird lifted their target price on shares of Edwards Lifesciences from $72.00 to $75.00 and gave the company a “neutral” rating in a research note on Thursday. Evercore ISI decreased their price target on shares of Edwards Lifesciences from $75.00 to $73.00 and set an “in-line” rating for the company in a research note on Wednesday, February 12th. Piper Sandler raised Edwards Lifesciences from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $73.00 to $80.00 in a research report on Thursday. Finally, Truist Financial decreased their target price on Edwards Lifesciences from $78.00 to $75.00 and set a “hold” rating for the company in a research report on Friday, April 11th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, Edwards Lifesciences presently has a consensus rating of “Hold” and a consensus target price of $79.45.

Edwards Lifesciences Price Performance

Shares of Edwards Lifesciences stock opened at $76.06 on Friday. The company’s fifty day simple moving average is $70.94 and its two-hundred day simple moving average is $71.07. Edwards Lifesciences has a 12-month low of $58.93 and a 12-month high of $95.25. The firm has a market cap of $44.71 billion, a PE ratio of 10.91, a price-to-earnings-growth ratio of 4.82 and a beta of 1.15. The company has a quick ratio of 2.89, a current ratio of 3.46 and a debt-to-equity ratio of 0.06.

Edwards Lifesciences (NYSE:EW) last announced its quarterly earnings results on Wednesday, April 23rd. The medical research company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.04. The company had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.40 billion. Edwards Lifesciences had a return on equity of 19.40% and a net margin of 72.93%. During the same quarter in the previous year, the business earned $0.66 EPS. As a group, equities analysts expect that Edwards Lifesciences will post 2.45 EPS for the current year.

Insider Activity at Edwards Lifesciences

In related news, VP Donald E. Bobo, Jr. sold 9,500 shares of the business’s stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $67.96, for a total value of $645,620.00. Following the completion of the transaction, the vice president now directly owns 46,936 shares in the company, valued at $3,189,770.56. The trade was a 16.83 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Daniel J. Lippis sold 400 shares of the stock in a transaction on Monday, March 10th. The shares were sold at an average price of $69.48, for a total value of $27,792.00. Following the sale, the vice president now owns 22,588 shares in the company, valued at approximately $1,569,414.24. This represents a 1.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 71,853 shares of company stock valued at $5,163,062. 0.34% of the stock is owned by insiders.

Institutional Investors Weigh In On Edwards Lifesciences

Several institutional investors have recently modified their holdings of the business. Mather Group LLC. lifted its stake in Edwards Lifesciences by 12.2% during the 1st quarter. Mather Group LLC. now owns 4,142 shares of the medical research company’s stock valued at $300,000 after acquiring an additional 450 shares during the period. Alta Advisers Ltd purchased a new position in shares of Edwards Lifesciences during the first quarter valued at approximately $231,000. Hixon Zuercher LLC lifted its position in Edwards Lifesciences by 21.6% during the first quarter. Hixon Zuercher LLC now owns 30,505 shares of the medical research company’s stock valued at $2,211,000 after purchasing an additional 5,421 shares during the period. Townsend & Associates Inc boosted its holdings in Edwards Lifesciences by 18.8% in the first quarter. Townsend & Associates Inc now owns 214,799 shares of the medical research company’s stock worth $14,864,000 after purchasing an additional 34,048 shares during the last quarter. Finally, Tradewinds Capital Management LLC grew its position in Edwards Lifesciences by 102.5% in the 1st quarter. Tradewinds Capital Management LLC now owns 405 shares of the medical research company’s stock worth $29,000 after purchasing an additional 205 shares during the period. 79.46% of the stock is owned by hedge funds and other institutional investors.

Edwards Lifesciences Company Profile

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.