Edwards Lifesciences (NYSE:EW) Price Target Lowered to $85.00 at Deutsche Bank Aktiengesellschaft

Edwards Lifesciences (NYSE:EW) had its target price decreased by equities researchers at Deutsche Bank Aktiengesellschaft from $103.00 to $85.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the medical research company’s stock. Deutsche Bank Aktiengesellschaft’s price target points to a potential upside of 34.60% from the company’s current price.

Several other analysts have also issued reports on EW. Royal Bank of Canada boosted their price target on shares of Edwards Lifesciences from $95.00 to $101.00 and gave the company an “outperform” rating in a research report on Monday, April 15th. Bank of America lowered shares of Edwards Lifesciences from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $105.00 to $75.00 in a report on Thursday. Wells Fargo & Company upped their target price on shares of Edwards Lifesciences from $94.00 to $99.00 and gave the stock an “overweight” rating in a report on Friday, April 26th. The Goldman Sachs Group initiated coverage on shares of Edwards Lifesciences in a research note on Thursday, May 30th. They issued a “buy” rating and a $107.00 price target for the company. Finally, Piper Sandler decreased their price target on shares of Edwards Lifesciences from $88.00 to $73.00 and set a “neutral” rating on the stock in a report on Thursday. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, Edwards Lifesciences presently has an average rating of “Hold” and a consensus target price of $86.50.

Edwards Lifesciences Stock Down 27.4 %

Edwards Lifesciences stock traded down $23.80 during midday trading on Thursday, hitting $63.15. 20,046,566 shares of the stock were exchanged, compared to its average volume of 3,515,995. Edwards Lifesciences has a 52-week low of $60.57 and a 52-week high of $96.12. The stock has a market capitalization of $38.05 billion, a price-to-earnings ratio of 27.22, a price-to-earnings-growth ratio of 3.19 and a beta of 1.11. The business’s 50-day moving average price is $89.12 and its 200-day moving average price is $87.12. 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 announced its quarterly earnings data on Wednesday, July 24th. The medical research company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.69 by $0.01. The business had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.65 billion. Edwards Lifesciences had a net margin of 23.01% and a return on equity of 22.86%. The company’s revenue for the quarter was up 6.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.66 earnings per share. On average, research analysts expect that Edwards Lifesciences will post 2.77 EPS for the current fiscal year.

Insider Transactions at Edwards Lifesciences

In other news, CEO Bernard J. Zovighian acquired 580 shares of the company’s stock in a transaction dated Monday, May 6th. The shares were acquired at an average price of $85.74 per share, with a total value of $49,729.20. Following the purchase, the chief executive officer now directly owns 3,268 shares of the company’s stock, valued at $280,198.32. The purchase was disclosed in a legal filing with the SEC, which is available at this link. In other news, VP Donald E. Bobo, Jr. sold 5,000 shares of Edwards Lifesciences stock in a transaction on Wednesday, July 10th. The stock was sold at an average price of $93.29, for a total transaction of $466,450.00. Following the transaction, the vice president now owns 46,936 shares in the company, valued at approximately $4,378,659.44. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Bernard J. Zovighian purchased 580 shares of Edwards Lifesciences stock in a transaction dated Monday, May 6th. The shares were bought at an average price of $85.74 per share, for a total transaction of $49,729.20. Following the acquisition, the chief executive officer now owns 3,268 shares in the company, valued at $280,198.32. The disclosure for this purchase can be found here. Insiders have sold 81,099 shares of company stock valued at $7,003,553 in the last 90 days. 1.29% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of EW. Vanguard Group Inc. raised its holdings in Edwards Lifesciences by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 52,964,394 shares of the medical research company’s stock valued at $5,061,277,000 after buying an additional 600,994 shares during the period. Bank of New York Mellon Corp raised its holdings in Edwards Lifesciences by 9.5% in the 1st quarter. Bank of New York Mellon Corp now owns 18,973,304 shares of the medical research company’s stock valued at $1,813,089,000 after buying an additional 1,644,869 shares during the period. Brown Advisory Inc. grew its position in Edwards Lifesciences by 20.1% in the 4th quarter. Brown Advisory Inc. now owns 18,181,420 shares of the medical research company’s stock valued at $1,386,333,000 after acquiring an additional 3,048,274 shares in the last quarter. Wellington Management Group LLP grew its position in Edwards Lifesciences by 2.4% in the 4th quarter. Wellington Management Group LLP now owns 16,827,510 shares of the medical research company’s stock valued at $1,283,098,000 after acquiring an additional 393,109 shares in the last quarter. Finally, Norges Bank acquired a new position in Edwards Lifesciences in the 4th quarter valued at about $648,540,000. Hedge funds and other institutional investors 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.