Edwards Lifesciences (NYSE:EW) Upgraded at Bank of America

Bank of America upgraded shares of Edwards Lifesciences (NYSE:EW) from a neutral rating to a buy rating in a report published on Monday, MarketBeat Ratings reports. They currently have $90.00 target price on the medical research company’s stock, up from their prior target price of $82.00.

Several other equities research analysts have also recently issued reports on the stock. Canaccord Genuity Group boosted their price objective on shares of Edwards Lifesciences from $63.00 to $68.00 and gave the company a “hold” rating in a research report on Thursday, December 5th. Sanford C. Bernstein raised shares of Edwards Lifesciences from a “strong sell” rating to a “hold” rating in a research note on Monday, October 28th. Evercore ISI dropped their price objective on Edwards Lifesciences from $76.00 to $70.00 and set an “in-line” rating on the stock in a research note on Tuesday, October 1st. Truist Financial reaffirmed a “hold” rating and set a $78.00 target price (up from $70.00) on shares of Edwards Lifesciences in a research report on Thursday, December 5th. Finally, Daiwa America downgraded Edwards Lifesciences from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 30th. Sixteen analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $79.40.

Edwards Lifesciences Stock Down 1.8 %

Shares of NYSE:EW opened at $72.81 on Monday. The firm has a market capitalization of $42.94 billion, a PE ratio of 10.51, a price-to-earnings-growth ratio of 3.63 and a beta of 1.12. The business has a 50 day simple moving average of $69.81 and a two-hundred day simple moving average of $73.71. Edwards Lifesciences has a 1 year low of $58.93 and a 1 year high of $96.12. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.46 and a quick ratio of 2.89.

Edwards Lifesciences (NYSE:EW) last posted its quarterly earnings data on Thursday, October 24th. The medical research company reported $0.67 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.67. Edwards Lifesciences had a return on equity of 20.76% and a net margin of 70.82%. The company had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.57 billion. During the same quarter in the previous year, the business earned $0.59 EPS. Edwards Lifesciences’s revenue was up 8.9% compared to the same quarter last year. On average, equities analysts predict that Edwards Lifesciences will post 2.56 EPS for the current year.

Insider Buying and Selling at Edwards Lifesciences

In other Edwards Lifesciences news, VP Daniel J. Lippis sold 2,500 shares of Edwards Lifesciences stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $74.08, for a total transaction of $185,200.00. Following the completion of the sale, the vice president now directly owns 23,189 shares in the company, valued at approximately $1,717,841.12. The trade was a 9.73 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Donald E. Bobo, Jr. sold 5,000 shares of the company’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $69.51, for a total transaction of $347,550.00. Following the completion of the sale, the vice president now directly owns 46,936 shares in the company, valued at $3,262,521.36. This trade represents a 9.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 37,500 shares of company stock worth $2,508,350. 1.29% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. FSA Wealth Management LLC acquired a new position in shares of Edwards Lifesciences in the 3rd quarter valued at about $30,000. Prospera Private Wealth LLC purchased a new position in Edwards Lifesciences during the third quarter valued at approximately $32,000. Avior Wealth Management LLC lifted its holdings in Edwards Lifesciences by 138.7% in the third quarter. Avior Wealth Management LLC now owns 530 shares of the medical research company’s stock valued at $35,000 after acquiring an additional 308 shares during the period. HHM Wealth Advisors LLC purchased a new stake in Edwards Lifesciences in the 2nd quarter worth approximately $55,000. Finally, Peoples Bank KS acquired a new stake in shares of Edwards Lifesciences during the 3rd quarter worth approximately $40,000. 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.