Edwards Lifesciences (NYSE:EW) Cut to Hold at Wall Street Zen

Wall Street Zen lowered shares of Edwards Lifesciences (NYSE:EW – Free Report) from a buy rating to a hold rating in a research note published on Saturday morning,Wall Street Zen reports.

Several other research firms also recently commented on EW. The Goldman Sachs Group lifted their price target on shares of Edwards Lifesciences from $98.00 to $102.00 and gave the stock a “buy” rating in a research note on Tuesday, July 14th. UBS Group reaffirmed a “buy” rating and issued a $110.00 price objective (up from $90.00) on shares of Edwards Lifesciences in a research note on Thursday, October 8th. Raymond James Financial upped their price objective on shares of Edwards Lifesciences from $100.00 to $103.00 and gave the company an “outperform” rating in a research note on Friday, July 24th. Truist Financial increased their target price on shares of Edwards Lifesciences from $90.00 to $95.00 and gave the company a “hold” rating in a report on Thursday, July 16th. Finally, TD Cowen reiterated a “buy” rating on shares of Edwards Lifesciences in a research report on Tuesday, October 27th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $101.16.

Check Out Our Latest Report on Edwards Lifesciences

Edwards Lifesciences Stock Performance

Shares of NYSE EW opened at $93.38 on Friday. The stock has a market cap of $53.77 billion, a price-to-earnings ratio of 32.66, a P/E/G ratio of 2.40 and a beta of 0.87. The company has a current ratio of 4.52, a quick ratio of 3.77 and a debt-to-equity ratio of 0.06. Edwards Lifesciences has a 1-year low of $74.66 and a 1-year high of $96.29. The stock’s 50-day moving average is $88.22 and its 200 day moving average is $85.47.

Insiders Place Their Bets

In other news, SVP Andrew M. Dahl sold 544 shares of the firm’s stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $91.06, for a total value of $49,536.64. Following the transaction, the senior vice president owned 14,868 shares in the company, valued at approximately $1,353,880.08. This trade represents a 3.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Daniel J. Lippis sold 619 shares of Edwards Lifesciences stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $92.03, for a total transaction of $56,966.57. Following the completion of the transaction, the vice president directly owned 40,034 shares in the company, valued at approximately $3,684,329.02. The trade was a 1.52% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 5,045 shares of company stock valued at $451,596 in the last ninety days. Company insiders own 0.31% of the company’s stock.

Institutional Investors Weigh In On Edwards Lifesciences

Institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in Edwards Lifesciences in the second quarter worth about $5,318,092,000. Bank of New York Mellon Corp purchased a new stake in shares of Edwards Lifesciences during the 2nd quarter valued at about $1,274,082,000. Bank of America Corp DE purchased a new stake in shares of Edwards Lifesciences during the 2nd quarter valued at about $605,397,000. Deutsche Bank AG bought a new position in shares of Edwards Lifesciences in the 2nd quarter worth approximately $516,552,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Edwards Lifesciences by 0.6% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,488,643 shares of the medical research company’s stock valued at $496,503,000 after buying an additional 30,495 shares during the period. Hedge funds and other institutional investors own 79.46% of the company’s stock.

Edwards Lifesciences News Summary

Here are the key news stories impacting Edwards Lifesciences this week:

  • Positive Sentiment: The PROGRESS trial found Edwards’ transcatheter aortic valve replacement (TAVR) was superior to clinical surveillance in moderate aortic stenosis patients with at-risk features, reducing the two-year composite of death or heart-failure events. The results support using TAVR earlier in the disease course and could expand the addressable patient population beyond severe aortic stenosis. PROGRESS Trial results
  • Positive Sentiment: The CLASP II TR trial showed Edwards’ PASCAL system for tricuspid repair outperformed medical therapy alone on its six-month primary endpoint. The system also produced significant and sustained reductions in tricuspid regurgitation and improvements in patients’ quality of life through one year, strengthening the case for Edwards’ transcatheter tricuspid-repair franchise. CLASP II TR trial results
  • Positive Sentiment: Bank of America analyst Travis Steed revisited Edwards following the PROGRESS data, highlighting the trial’s potential to support TAVR expansion in selected moderate aortic stenosis patients. Analyst attention reinforces the potential commercial significance of the results. Bank of America analyst coverage
  • Neutral Sentiment: The longer-term stock impact will depend on regulatory decisions, guideline changes, reimbursement and physician adoption. The trial results are encouraging, but expanded indications would require additional execution before translating into revenue.

About Edwards Lifesciences

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Edwards Lifesciences Corporation (NYSE:EW) is a medical technology company focused on therapies for structural heart disease and critical care. The company develops and manufactures products designed to treat conditions affecting the heart’s valves, including aortic, mitral and tricuspid valve disorders.

Its portfolio includes transcatheter aortic valve replacement systems, transcatheter mitral and tricuspid therapies, surgical heart valves and valve-repair technologies. Edwards also provides related delivery systems and other medical devices used by physicians in minimally invasive and open-heart procedures.

Founded in 1958 by Miles Lowell Edwards, the company is headquartered in Irvine, California, and serves healthcare providers and patients internationally.

See Also

Analyst Recommendations for Edwards Lifesciences (NYSE:EW)

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