Royal Bank of Canada Issues Positive Forecast for Edwards Lifesciences (NYSE:EW) Stock Price

Edwards Lifesciences (NYSE:EW) had its price target raised by Royal Bank of Canada from $75.00 to $80.00 in a research note published on Wednesday,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the medical research company’s stock.

Other analysts have also issued reports about the company. Barclays decreased their price objective on Edwards Lifesciences from $90.00 to $80.00 and set an “overweight” rating on the stock in a research note on Monday, September 9th. Daiwa Capital Markets raised shares of Edwards Lifesciences from a “neutral” rating to an “outperform” rating in a report on Wednesday, July 31st. Oppenheimer restated an “outperform” rating and issued a $90.00 price objective on shares of Edwards Lifesciences in a research report on Thursday, September 12th. Robert W. Baird decreased their target price on shares of Edwards Lifesciences from $73.00 to $68.00 and set a “neutral” rating on the stock in a report on Friday, October 25th. Finally, Evercore ISI cut their price target on shares of Edwards Lifesciences from $76.00 to $70.00 and set an “in-line” rating for the company in a report on Tuesday, October 1st. Seventeen equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $76.85.

Edwards Lifesciences Price Performance

Shares of NYSE:EW opened at $71.37 on Wednesday. The firm has a market capitalization of $42.09 billion, a PE ratio of 10.30, a P/E/G ratio of 4.05 and a beta of 1.12. The company has a quick ratio of 2.89, a current ratio of 3.46 and a debt-to-equity ratio of 0.06. The company has a 50-day moving average price of $68.10 and a two-hundred day moving average price of $75.23. Edwards Lifesciences has a twelve month low of $58.93 and a twelve month high of $96.12.

Edwards Lifesciences (NYSE:EW) last released its quarterly earnings data on Thursday, October 24th. The medical research company reported $0.67 EPS for the quarter, hitting the consensus estimate of $0.67. Edwards Lifesciences had a net margin of 70.82% and a return on equity of 20.76%. The company had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.57 billion. During the same period last year, the firm earned $0.59 EPS. Edwards Lifesciences’s revenue for the quarter was up 8.9% on a year-over-year basis. Equities analysts forecast that Edwards Lifesciences will post 2.57 EPS for the current year.

Insiders Place Their Bets

In other news, insider Larry L. Wood sold 25,000 shares of the business’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $65.91, for a total value of $1,647,750.00. Following the completion of the sale, the insider now owns 198,526 shares of the company’s stock, valued at approximately $13,084,848.66. The trade was a 11.18 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Donald E. Bobo, Jr. sold 5,000 shares of the firm’s 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 in the company, valued at approximately $3,133,916.72. The trade was a 9.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 40,000 shares of company stock valued at $2,657,000 over the last quarter. 1.29% of the stock is owned by corporate insiders.

Institutional Trading of Edwards Lifesciences

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Kennedy Capital Management LLC purchased a new stake in Edwards Lifesciences during the 1st quarter valued at $2,440,000. B. Riley Wealth Advisors Inc. grew its stake in shares of Edwards Lifesciences by 80.4% in the first quarter. B. Riley Wealth Advisors Inc. now owns 21,065 shares of the medical research company’s stock worth $2,013,000 after purchasing an additional 9,390 shares during the last quarter. Tidal Investments LLC increased its holdings in Edwards Lifesciences by 54.7% during the 1st quarter. Tidal Investments LLC now owns 30,245 shares of the medical research company’s stock valued at $2,890,000 after purchasing an additional 10,700 shares during the period. Plato Investment Management Ltd raised its position in Edwards Lifesciences by 982.2% during the 1st quarter. Plato Investment Management Ltd now owns 7,521 shares of the medical research company’s stock valued at $719,000 after purchasing an additional 6,826 shares during the last quarter. Finally, Sanibel Captiva Trust Company Inc. lifted its holdings in Edwards Lifesciences by 3.7% in the 1st quarter. Sanibel Captiva Trust Company Inc. now owns 8,046 shares of the medical research company’s stock worth $769,000 after buying an additional 286 shares during the period. Institutional investors own 79.46% of the company’s stock.

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.