Edwards Lifesciences (NYSE:EW) Lowered to Hold at Baird R W

Baird R W lowered shares of Edwards Lifesciences (NYSE:EW) from a strong-buy rating to a hold rating in a report released on Thursday morning, Zacks.com reports.

Several other research analysts have also recently issued reports on EW. Stifel Nicolaus cut their target price on Edwards Lifesciences from $85.00 to $70.00 and set a hold rating on the stock in a research report on Thursday. Robert W. Baird cut Edwards Lifesciences from an outperform rating to a neutral rating and cut their target price for the company from $102.00 to $70.00 in a research report on Thursday. The Goldman Sachs Group initiated coverage on Edwards Lifesciences in a research report on Thursday, May 30th. They set a buy rating and a $107.00 target price on the stock. Citigroup lifted their target price on Edwards Lifesciences from $105.00 to $106.00 and gave the company a buy rating in a research report on Wednesday, July 10th. Finally, Truist Financial cut Edwards Lifesciences from a buy rating to a hold rating and cut their price objective for the stock from $110.00 to $82.00 in a research report on Thursday. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of Hold and a consensus price target of $82.10.

Edwards Lifesciences Trading Up 4.5 %

Shares of Edwards Lifesciences stock opened at $62.37 on Thursday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.67 and a current ratio of 3.71. Edwards Lifesciences has a 52 week low of $58.93 and a 52 week high of $96.12. The stock has a 50 day moving average price of $87.98 and a two-hundred day moving average price of $86.99. The stock has a market capitalization of $37.58 billion, a PE ratio of 26.88, a price-to-earnings-growth ratio of 2.31 and a beta of 1.11.

Edwards Lifesciences (NYSE:EW) last announced its earnings results on Wednesday, July 24th. The medical research company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.01. The company had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.65 billion. Edwards Lifesciences had a return on equity of 22.35% and a net margin of 24.55%. Edwards Lifesciences’s quarterly revenue was up 6.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.66 earnings per share. As a group, equities analysts anticipate that Edwards Lifesciences will post 2.71 earnings per share for the current fiscal year.

Insider Buying and Selling at Edwards Lifesciences

In other Edwards Lifesciences news, CFO Scott B. Ullem sold 7,250 shares of the business’s stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $85.80, for a total value of $622,050.00. Following the sale, the chief financial officer now directly owns 19,074 shares in the company, valued at $1,636,549.20. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, CFO Scott B. Ullem sold 7,250 shares of the business’s stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $85.80, for a total transaction of $622,050.00. Following the sale, the chief financial officer now directly owns 19,074 shares in the company, valued at approximately $1,636,549.20. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Bernard J. Zovighian acquired 580 shares of the firm’s stock in a transaction that occurred on 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 completion of the purchase, the chief executive officer now owns 3,268 shares in the company, valued at approximately $280,198.32. The disclosure for this purchase can be found here. Insiders have sold a total of 81,099 shares of company stock worth $7,003,553 over the last ninety days. 1.29% of the stock is currently owned by company insiders.

Institutional Trading of Edwards Lifesciences

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Mutual Advisors LLC bought a new position in Edwards Lifesciences in the 4th quarter worth about $201,000. Procyon Advisors LLC boosted its holdings in shares of Edwards Lifesciences by 6.8% in the 4th quarter. Procyon Advisors LLC now owns 6,063 shares of the medical research company’s stock worth $462,000 after purchasing an additional 384 shares in the last quarter. Trueblood Wealth Management LLC purchased a new position in shares of Edwards Lifesciences in the 4th quarter worth about $206,000. Ritholtz Wealth Management purchased a new position in shares of Edwards Lifesciences in the 4th quarter worth about $202,000. Finally, Quent Capital LLC boosted its holdings in shares of Edwards Lifesciences by 29.7% in the 4th quarter. Quent Capital LLC now owns 2,003 shares of the medical research company’s stock worth $153,000 after purchasing an additional 459 shares in the last quarter. 79.46% of the stock is currently owned by 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.