Edwards Lifesciences (NYSE:EW) Given New $91.00 Price Target at The Goldman Sachs Group

Edwards Lifesciences (NYSE:EW) had its price target lowered by The Goldman Sachs Group from $107.00 to $91.00 in a report released on Friday, Benzinga reports. The brokerage currently has a buy rating on the medical research company’s stock.

Other research analysts also recently issued reports about the company. Oppenheimer reduced their target price on Edwards Lifesciences from $100.00 to $90.00 and set an outperform rating for the company in a research note on Thursday. Stifel Nicolaus dropped their price objective on shares of Edwards Lifesciences from $85.00 to $70.00 and set a hold rating on the stock in a research report on Thursday. JPMorgan Chase & Co. downgraded shares of Edwards Lifesciences from an overweight rating to a neutral rating and reduced their target price for the stock from $105.00 to $72.00 in a report on Thursday. Piper Sandler lowered 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. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on Edwards Lifesciences from $103.00 to $85.00 and set a buy rating for the company in a report on Thursday. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of Hold and an average target price of $82.10.

Edwards Lifesciences Stock Performance

NYSE EW opened at $62.37 on Friday. The firm has a market capitalization of $37.58 billion, a P/E ratio of 26.88, a price-to-earnings-growth ratio of 2.22 and a beta of 1.11. The company has a current ratio of 3.71, a quick ratio of 2.67 and a debt-to-equity ratio of 0.08. The firm’s fifty day moving average price is $87.98 and its two-hundred day moving average price is $86.84. Edwards Lifesciences has a 1 year low of $58.93 and a 1 year high of $96.12.

Edwards Lifesciences (NYSE:EW) last issued its earnings results on Wednesday, July 24th. The medical research company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.01. Edwards Lifesciences had a net margin of 24.55% and a return on equity of 22.35%. The company had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.65 billion. During the same period in the prior year, the firm earned $0.66 EPS. Edwards Lifesciences’s quarterly revenue was up 6.7% compared to the same quarter last year. As a group, research analysts anticipate that Edwards Lifesciences will post 2.73 EPS for the current year.

Insider Activity

In related news, VP Jean-Luc M. Lemercier sold 14,400 shares of the stock in a transaction that occurred 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 sale, the vice president now owns 173,849 shares in the company, valued at approximately $14,639,824.29. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Edwards Lifesciences news, CFO Scott B. Ullem sold 7,250 shares of the business’s stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $85.80, for a total transaction of $622,050.00. Following the completion of the transaction, the chief financial officer now owns 19,074 shares of the company’s stock, valued at $1,636,549.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Jean-Luc M. Lemercier sold 14,400 shares of the firm’s stock in a transaction that occurred 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 $14,639,824.29. The disclosure for this sale can be found here. In the last ninety days, insiders sold 81,099 shares of company stock worth $7,003,553. 1.29% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Edwards Lifesciences

A number of institutional investors have recently added to or reduced their stakes in EW. DSM Capital Partners LLC bought a new position in shares of Edwards Lifesciences in the 4th quarter valued at $28,000. Crewe Advisors LLC bought a new position in Edwards Lifesciences in the first quarter valued at about $28,000. First Community Trust NA bought a new position in Edwards Lifesciences in the second quarter valued at about $29,000. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Edwards Lifesciences during the fourth quarter valued at about $34,000. Finally, Riverview Trust Co bought a new stake in shares of Edwards Lifesciences during the first quarter worth about $34,000. 79.46% of the stock is currently owned by institutional investors and hedge funds.

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.