Edwards Lifesciences (NYSE:EW) Stock Gets Downgrade from Wall Street Zen

Edwards Lifesciences (NYSE:EW) was downgraded by equities researchers at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

Several other research analysts have also issued reports on the stock. Deutsche Bank Aktiengesellschaft set a $104.00 price target on shares of Edwards Lifesciences in a research note on Tuesday, October 27th. Leerink Partners raised shares of Edwards Lifesciences from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $87.00 to $101.00 in a report on Friday, July 24th. Royal Bank Of Canada upped their price objective on shares of Edwards Lifesciences from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Monday, July 13th. Argus upped their price target on Edwards Lifesciences from $105.00 to $115.00 and gave the company a “buy” rating in a report on Friday, August 21st. Finally, UBS Group reissued a “buy” rating and issued a $110.00 price target (up from $90.00) on shares of Edwards Lifesciences in a report on Thursday, October 8th. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, Edwards Lifesciences has an average rating of “Moderate Buy” and an average price target of $101.16.

Edwards Lifesciences Price Performance

Shares of NYSE EW opened at $91.91 on Friday. The firm has a market capitalization of $52.92 billion, a P/E ratio of 52.82, a P/E/G ratio of 2.41 and a beta of 0.87. The firm’s 50-day moving average price is $88.15 and its 200-day moving average price is $85.43. The company has a current ratio of 4.52, a quick ratio of 3.77 and a debt-to-equity ratio of 0.06. Edwards Lifesciences has a 1-year low of $74.66 and a 1-year high of $96.29.

Insider Activity

In related news, VP Daniel Lippis sold 619 shares of the company’s stock in a transaction on Thursday, October 8th. The stock was sold at an average price of $85.65, for a total transaction of $53,017.35. Following the transaction, the vice president directly owned 40,034 shares of the company’s stock, valued at approximately $3,428,912.10. The trade was a 1.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Annette Brüls sold 2,644 shares of the stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $89.98, for a total value of $237,907.12. Following the transaction, the vice president directly owned 17,984 shares in the company, valued at approximately $1,618,200.32. This represents a 12.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 5,045 shares of company stock worth $451,596 over the last 90 days. 0.31% of the stock is owned by company insiders.

Hedge Funds Weigh In On Edwards Lifesciences

A number of hedge funds have recently bought and sold shares of EW. Pin Oak Investment Advisors Inc. purchased a new stake in Edwards Lifesciences during the second quarter valued at about $26,000. TrinityBridge Ltd bought a new position in shares of Edwards Lifesciences in the 2nd quarter worth approximately $27,000. GK Wealth Management LLC bought a new position in Edwards Lifesciences in the 3rd quarter worth $26,000. RMG Wealth Management LLC purchased a new stake in Edwards Lifesciences in the 1st quarter worth $26,000. Finally, Compass Financial Management LLC bought a new position in shares of Edwards Lifesciences in the 2nd quarter valued at about $32,000. Institutional investors own 79.46% of the company’s stock.

About Edwards Lifesciences

Edwards Lifesciences Corporation (NYSE:EW) is a medical technology company focused on therapies for structural heart disease and critical care. The company develops and manufactures products designed to treat conditions affecting the heart’s valves, including aortic, mitral and tricuspid valve disorders.

Its portfolio includes transcatheter aortic valve replacement systems, transcatheter mitral and tricuspid therapies, surgical heart valves and valve-repair technologies. Edwards also provides related delivery systems and other medical devices used by physicians in minimally invasive and open-heart procedures.

Founded in 1958 by Miles Lowell Edwards, the company is headquartered in Irvine, California, and serves healthcare providers and patients internationally.