Canaccord Genuity Group Cuts Edwards Lifesciences (NYSE:EW) Price Target to $66.00

Edwards Lifesciences (NYSE:EWFree Report) had its price target reduced by Canaccord Genuity Group from $77.00 to $66.00 in a research note issued to investors on Monday, Benzinga reports. They currently have a hold rating on the medical research company’s stock.

Several other equities analysts also recently weighed in on the company. Jefferies Financial Group downgraded Edwards Lifesciences from a buy rating to a hold rating and lowered their target price for the company from $85.00 to $70.00 in a research report on Wednesday, September 18th. Stifel Nicolaus decreased their price target on Edwards Lifesciences from $85.00 to $70.00 and set a hold rating on the stock in a report on Thursday, July 25th. StockNews.com cut Edwards Lifesciences from a buy rating to a hold rating in a report on Thursday, July 25th. Piper Sandler decreased their price target on Edwards Lifesciences from $88.00 to $73.00 and set a neutral rating on the stock in a report on Thursday, July 25th. Finally, Evercore ISI decreased their price target on Edwards Lifesciences from $76.00 to $70.00 and set an in-line rating on the stock in a report on Tuesday, October 1st. Sixteen equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of Hold and an average price target of $77.27.

Get Our Latest Stock Analysis on EW

Edwards Lifesciences Price Performance

NYSE EW opened at $68.26 on Monday. The company has a market capitalization of $41.13 billion, a PE ratio of 29.42, a price-to-earnings-growth ratio of 2.80 and a beta of 1.13. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.87 and a current ratio of 3.71. The business’s fifty day moving average is $66.86 and its 200 day moving average is $80.43. Edwards Lifesciences has a fifty-two week low of $58.93 and a fifty-two week high of $96.12.

Edwards Lifesciences (NYSE:EWGet Free Report) last released its earnings results on Wednesday, July 24th. The medical research company reported $0.70 earnings per share 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 the consensus estimate 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% compared to the same quarter last year. During the same period in the previous year, the business earned $0.66 earnings per share. Sell-side analysts predict that Edwards Lifesciences will post 2.71 earnings per share for the current year.

Insider Activity

In related news, VP Daveen Chopra sold 1,250 shares of the stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $69.95, for a total value of $87,437.50. Following the transaction, the vice president now owns 29,333 shares of the company’s stock, valued at $2,051,843.35. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, VP Donald E. Bobo, Jr. sold 5,000 shares of the stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $66.77, for a total value of $333,850.00. Following the transaction, the vice president now owns 46,936 shares of the company’s stock, valued at $3,133,916.72. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Daveen Chopra sold 1,250 shares of the company’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $69.95, for a total value of $87,437.50. Following the sale, the vice president now owns 29,333 shares of the company’s stock, valued at approximately $2,051,843.35. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 11,250 shares of company stock valued at $751,688. 1.29% of the stock is currently owned by insiders.

Institutional Trading of Edwards Lifesciences

A number of hedge funds have recently bought and sold shares of EW. Price T Rowe Associates Inc. MD lifted its holdings in Edwards Lifesciences by 57.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,516,260 shares of the medical research company’s stock worth $622,695,000 after buying an additional 2,390,137 shares during the period. CCLA Investment Management lifted its holdings in Edwards Lifesciences by 100,739.7% during the first quarter. CCLA Investment Management now owns 1,406,714 shares of the medical research company’s stock worth $134,092,000 after buying an additional 1,405,319 shares during the period. Swedbank AB purchased a new stake in Edwards Lifesciences during the first quarter worth $124,511,000. Sei Investments Co. lifted its holdings in shares of Edwards Lifesciences by 162.7% during the 1st quarter. Sei Investments Co. now owns 1,465,719 shares of the medical research company’s stock valued at $140,064,000 after purchasing an additional 907,688 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Edwards Lifesciences by 4.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 19,782,909 shares of the medical research company’s stock valued at $1,827,347,000 after purchasing an additional 809,605 shares during the last quarter. Hedge funds and other institutional investors own 79.46% of the company’s stock.

Edwards Lifesciences Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Edwards Lifesciences (NYSE:EW)

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