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

Edwards Lifesciences (NYSE:EW) had its target price lowered by Morgan Stanley from $83.33 to $83.00 in a research note published on Monday, BenzingaRatingsTable reports. Morgan Stanley currently has an overweight rating on the medical research company’s stock.

Other equities analysts also recently issued research reports about the stock. Canaccord Genuity reiterated a buy rating on shares of Edwards Lifesciences in a report on Friday, April 24th. Credit Suisse Group decreased their target price on shares of Edwards Lifesciences to $88.00 and set an outperform rating for the company in a research report on Tuesday, June 2nd. Cowen lowered their price target 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. Barclays reiterated an underweight rating and set a $51.67 price objective (down previously from $55.00) on shares of Edwards Lifesciences in a research note on Monday, April 27th. They noted that the move was a valuation call. Finally, BTIG Research restated a hold rating on shares of Edwards Lifesciences in a research note on Thursday, April 23rd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and sixteen have given a buy rating to the stock. The stock presently has an average rating of Buy and a consensus target price of $82.52.

NYSE:EW opened at $69.19 on Monday. The company’s 50 day moving average is $109.57 and its two-hundred day moving average is $81.90. The company has a market cap of $42.76 billion, a PE ratio of 35.94, a P/E/G ratio of 2.60 and a beta of 0.86. Edwards Lifesciences has a twelve month low of $51.51 and a twelve month high of $82.55. 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 (NYSE:EW) last announced its quarterly earnings data 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. Edwards Lifesciences had a net margin of 24.71% and a return on equity of 31.83%. The firm had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same period in the previous year, the company earned $0.44 earnings per share. The business’s quarterly revenue was up 13.7% compared to the same quarter last year. As a group, analysts expect that Edwards Lifesciences will post 1.65 EPS for the current fiscal year.

In other Edwards Lifesciences news, VP Catherine M. Szyman sold 1,116 shares of the stock in a transaction dated Thursday, April 16th. The shares were sold at an average price of $216.91, for a total value of $242,071.56. Following the completion of the sale, the vice president now owns 14,755 shares in the company, valued at approximately $3,200,507.05. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Michael A. Mussallem sold 22,850 shares of the firm’s stock in a transaction that occurred on Tuesday, April 7th. The stock was sold at an average price of $202.34, for a total transaction of $4,623,469.00. Following the completion of the transaction, the chief executive officer now directly owns 69,976 shares in the company, valued at $14,158,943.84. The disclosure for this sale can be found here. Insiders have sold 196,086 shares of company stock valued at $24,236,803 over the last quarter. 1.48% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EW. Procyon Private Wealth Partners LLC raised its stake in Edwards Lifesciences by 276.3% during the first quarter. Procyon Private Wealth Partners LLC now owns 143 shares of the medical research company’s stock worth $27,000 after purchasing an additional 105 shares during the period. 1776 Wealth LLC increased its holdings in shares of Edwards Lifesciences by 97.6% during the 1st quarter. 1776 Wealth LLC now owns 162 shares of the medical research company’s stock worth $30,000 after buying an additional 80 shares during the last quarter. Balentine LLC purchased a new stake in shares of Edwards Lifesciences during the 1st quarter valued at approximately $32,000. Trust Co. of Vermont lifted its holdings 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 acquiring an additional 100 shares during the last quarter. Finally, Pinz Capital Management LP purchased a new position in Edwards Lifesciences in the first quarter worth approximately $60,000. 80.66% 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 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.

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Analyst Recommendations for Edwards Lifesciences (NYSE:EW)

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