Edwards Lifesciences Corporation (NYSE:EW – Get Free Report)’s stock price reached a new 52-week high during trading on Wednesday after TD Cowen raised their price target on the stock from $117.00 to $121.00. TD Cowen currently has a buy rating on the stock. Edwards Lifesciences traded as high as $105.63 and last traded at $105.6550, with a volume of 1,795,644 shares. The stock had previously closed at $104.01.
A number of other research firms also recently weighed in on EW. Truist Financial set a $113.00 target price on shares of Edwards Lifesciences and gave the company a “buy” rating in a research report on Wednesday, November 4th. Leerink Partners lifted their target price on shares of Edwards Lifesciences from $101.00 to $112.00 and gave the stock an “outperform” rating in a research note on Thursday, November 5th. Rothschild & Co Redburn increased their price target on Edwards Lifesciences from $99.00 to $102.00 and gave the stock a “buy” rating in a report on Monday, July 27th. BTIG Research increased their target price on shares of Edwards Lifesciences from $110.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, November 5th. Finally, Royal Bank Of Canada upped their target price on shares of Edwards Lifesciences from $110.00 to $115.00 and gave the stock an “outperform” rating in a report on Thursday, November 5th. Twenty-three analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $109.56.
View Our Latest Analysis on Edwards Lifesciences
Insider Buying and Selling at Edwards Lifesciences
In other news, VP Daniel Lippis sold 619 shares of Edwards Lifesciences stock in a transaction dated Tuesday, November 10th. The shares were sold at an average price of $104.25, for a total transaction of $64,530.75. Following the sale, the vice president directly owned 40,034 shares in the company, valued at approximately $4,173,544.50. The trade was a 1.52% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Andrew M. Dahl sold 544 shares of the company’s stock in a transaction dated Monday, August 31st. The shares were sold at an average price of $91.06, for a total transaction of $49,536.64. Following the completion of the sale, the senior vice president directly owned 14,868 shares in the company, valued at approximately $1,353,880.08. The trade was a 3.53% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 53,945 shares of company stock worth $5,498,306 over the last 90 days. Company insiders own 0.31% of the company’s stock.
Institutional Trading of Edwards Lifesciences
Institutional investors have recently bought and sold shares of the stock. BlackRock Inc. bought a new stake in Edwards Lifesciences in the second quarter valued at $5,318,092,000. Bank of New York Mellon Corp acquired a new stake in shares of Edwards Lifesciences in the 2nd quarter valued at $1,274,082,000. Bank of America Corp DE bought a new stake in Edwards Lifesciences during the second quarter worth about $605,397,000. Deutsche Bank AG bought a new position in shares of Edwards Lifesciences in the second quarter valued at approximately $516,552,000. Finally, Legal & General Group Plc acquired a new position in shares of Edwards Lifesciences in the 2nd quarter worth approximately $389,089,000. Institutional investors and hedge funds own 79.46% of the company’s stock.
Edwards Lifesciences Stock Performance
The firm has a market capitalization of $60.85 billion, a P/E ratio of 59.81, a price-to-earnings-growth ratio of 2.79 and a beta of 0.85. The stock has a 50-day moving average of $89.47 and a 200 day moving average of $85.98. The company has a debt-to-equity ratio of 0.05, a quick ratio of 3.86 and a current ratio of 4.60.
Edwards Lifesciences (NYSE:EW – Get Free Report) last issued its quarterly earnings data on Wednesday, November 4th. The medical research company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.06. The firm had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.68 billion. Edwards Lifesciences had a return on equity of 16.06% and a net margin of 15.30%. The business’s revenue for the quarter was up 10.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.67 EPS. On average, research analysts anticipate that Edwards Lifesciences Corporation will post 3.01 earnings per share for the current year.
Edwards Lifesciences Company Profile
Edwards Lifesciences is a medical technology company focused on therapies for structural heart disease and critical care. Its products include transcatheter and surgical heart valves, as well as technologies used to monitor patients during intensive care and surgery. The company traces its origins to 1958, when engineer Lowell Edwards and surgeon Albert Starr began developing an artificial heart valve. Their work led to the Starr-Edwards valve, introduced in 1960. Edwards Lifesciences is headquartered in Irvine, California, and serves clinicians and patients around the world.
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