Edwards Lifesciences (NYSE:EW) PT Lowered to $83.00

Edwards Lifesciences (NYSE:EW) had its price objective dropped by research analysts at Morgan Stanley from $83.33 to $83.00 in a research note issued on Monday, BenzingaRatingsTable reports. The firm presently has an “overweight” rating on the medical research company’s stock. Morgan Stanley’s target price indicates a potential upside of 22.26% from the stock’s current price.

A number of other research analysts also recently weighed in on EW. Deutsche Bank cut their price target on shares of Edwards Lifesciences from $81.67 to $75.00 and set a “hold” rating on the stock in a report on Wednesday, April 22nd. Cowen dropped their target price on shares of Edwards Lifesciences from $91.67 to $83.33 and set an “outperform” rating on the stock in a report on Monday, April 20th. Wells Fargo & Co downgraded shares of Edwards Lifesciences from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $83.33 to $76.67 in a report on Tuesday, April 28th. SVB Leerink downgraded shares of Edwards Lifesciences from an “outperform” rating to a “market perform” rating in a report on Sunday, April 19th. Finally, Credit Suisse Group dropped their target price on shares of Edwards Lifesciences to $88.00 and set an “outperform” rating on the stock in a report on Tuesday, June 2nd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and sixteen have issued a buy rating to the company. The company has an average rating of “Buy” and an average price target of $82.52.

Edwards Lifesciences stock opened at $67.89 on Monday. The company has a market capitalization of $41.60 billion, a P/E ratio of 38.94, a P/E/G ratio of 2.53 and a beta of 0.84. The firm’s fifty day simple moving average is $109.78 and its 200-day simple moving average is $81.98. The company has a current ratio of 3.36, a quick ratio of 2.47 and a debt-to-equity ratio of 0.17. Edwards Lifesciences has a 1-year low of $51.51 and a 1-year high of $82.55.

Edwards Lifesciences (NYSE:EW) last released its quarterly earnings results on Thursday, April 23rd. The medical research company reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.07. The business had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.03 billion. Edwards Lifesciences had a net margin of 24.71% and a return on equity of 31.83%. Edwards Lifesciences’s revenue for the quarter was up 13.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.44 EPS. On average, equities research analysts predict that Edwards Lifesciences will post 1.65 earnings per share for the current year.

In other news, VP Donald E. Bobo, Jr. sold 5,369 shares of Edwards Lifesciences stock in a transaction dated Friday, April 3rd. The shares were sold at an average price of $182.44, for a total transaction of $979,520.36. Following the sale, the vice president now directly owns 26,191 shares in the company, valued at approximately $4,778,286.04. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Catherine M. Szyman sold 750 shares of Edwards Lifesciences stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $216.93, for a total transaction of $162,697.50. Following the sale, the vice president now owns 18,318 shares in the company, valued at $3,973,723.74. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 190,757 shares of company stock worth $24,479,231. 1.48% of the stock is owned by company insiders.

Several institutional investors have recently modified their holdings of EW. Procyon Private Wealth Partners LLC boosted its position in Edwards Lifesciences by 276.3% in the first quarter. Procyon Private Wealth Partners LLC now owns 143 shares of the medical research company’s stock valued at $27,000 after buying an additional 105 shares in the last quarter. 1776 Wealth LLC boosted its position in Edwards Lifesciences by 97.6% in the first quarter. 1776 Wealth LLC now owns 162 shares of the medical research company’s stock valued at $30,000 after buying an additional 80 shares in the last quarter. Balentine LLC acquired a new position in Edwards Lifesciences in the first quarter valued at about $32,000. Trust Co. of Vermont boosted its position in Edwards Lifesciences by 65.4% in the first quarter. Trust Co. of Vermont now owns 253 shares of the medical research company’s stock valued at $48,000 after buying an additional 100 shares in the last quarter. Finally, Pinz Capital Management LP acquired a new position in Edwards Lifesciences in the first quarter valued at about $60,000. Institutional investors and hedge funds own 80.66% 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 and internationally. It offers transcatheter heart valve therapy products comprising transcatheter aortic valve replacement, and transcatheter mitral and tricuspid therapies for the nonsurgical replacement of heart valves.

See Also: Hang Seng Index (HSI)

Analyst Recommendations for Edwards Lifesciences (NYSE:EW)

Receive News & Ratings for Edwards Lifesciences Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Edwards Lifesciences and related companies with MarketBeat.com's FREE daily email newsletter.