Edwards Lifesciences (NYSE:EW) Upgraded at Bank of America

Edwards Lifesciences (NYSE:EW) was upgraded by equities researchers at Bank of America from a “neutral” rating to a “buy” rating in a report issued on Monday,Briefing.com Automated Import reports.

Several other equities research analysts also recently weighed in on the company. Morgan Stanley reaffirmed an “equal weight” rating and set a $70.00 price target on shares of Edwards Lifesciences in a research report on Friday, October 11th. Truist Financial reiterated a “hold” rating and set a $78.00 price target (up from $70.00) on shares of Edwards Lifesciences in a research report on Thursday, December 5th. Robert W. Baird decreased their price target on Edwards Lifesciences from $73.00 to $68.00 and set a “neutral” rating for the company in a report on Friday, October 25th. Sanford C. Bernstein raised shares of Edwards Lifesciences from a “strong sell” rating to a “hold” rating in a research note on Monday, October 28th. Finally, The Goldman Sachs Group boosted their target price on shares of Edwards Lifesciences from $81.00 to $90.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Sixteen analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $78.65.

Edwards Lifesciences Stock Performance

Shares of EW stock opened at $74.40 on Monday. The business has a fifty day moving average of $69.42 and a 200 day moving average of $73.90. Edwards Lifesciences has a 1 year low of $58.93 and a 1 year high of $96.12. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.46 and a quick ratio of 2.89. The firm has a market capitalization of $43.88 billion, a price-to-earnings ratio of 10.74, a price-to-earnings-growth ratio of 3.63 and a beta of 1.12.

Edwards Lifesciences (NYSE:EW) last issued its earnings results on Thursday, October 24th. The medical research company reported $0.67 EPS for the quarter, meeting analysts’ consensus estimates of $0.67. The firm had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.57 billion. Edwards Lifesciences had a return on equity of 20.76% and a net margin of 70.82%. Edwards Lifesciences’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.59 earnings per share. As a group, research analysts expect that Edwards Lifesciences will post 2.56 earnings per share for the current year.

Insider Buying and Selling at Edwards Lifesciences

In other Edwards Lifesciences news, VP Donald E. Bobo, Jr. sold 5,000 shares of the company’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $69.51, for a total transaction of $347,550.00. Following the transaction, the vice president now directly owns 46,936 shares in the company, valued at $3,262,521.36. This represents a 9.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Larry L. Wood sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $65.91, for a total value of $1,647,750.00. Following the transaction, the insider now owns 198,526 shares of the company’s stock, valued at $13,084,848.66. This trade represents a 11.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 35,000 shares of company stock worth $2,323,150 in the last ninety days. 1.29% of the stock is owned by insiders.

Institutional Trading of Edwards Lifesciences

A number of large investors have recently modified their holdings of the stock. Stableford Capital II LLC boosted its holdings in Edwards Lifesciences by 2.7% in the second quarter. Stableford Capital II LLC now owns 6,104 shares of the medical research company’s stock valued at $533,000 after purchasing an additional 159 shares during the period. Purus Wealth Management LLC raised its position in Edwards Lifesciences by 5.2% in the 2nd quarter. Purus Wealth Management LLC now owns 3,212 shares of the medical research company’s stock valued at $297,000 after purchasing an additional 160 shares in the last quarter. Busey Bank boosted its stake in shares of Edwards Lifesciences by 1.9% in the 2nd quarter. Busey Bank now owns 8,838 shares of the medical research company’s stock valued at $816,000 after buying an additional 165 shares during the period. Commerzbank Aktiengesellschaft FI boosted its stake in shares of Edwards Lifesciences by 7.4% in the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 2,415 shares of the medical research company’s stock valued at $224,000 after buying an additional 166 shares during the period. Finally, JFS Wealth Advisors LLC grew its position in shares of Edwards Lifesciences by 31.1% during the third quarter. JFS Wealth Advisors LLC now owns 700 shares of the medical research company’s stock worth $46,000 after buying an additional 166 shares in the last quarter. Hedge funds and other institutional investors own 79.46% 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, 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.