Edwards Lifesciences (NYSE:EW) Upgraded by Dbs Bank to “Hold” Rating

Dbs Bank upgraded shares of Edwards Lifesciences (NYSE:EW) to a hold rating in a report issued on Monday morning,Zacks.com reports.

EW has been the subject of several other reports. Canaccord Genuity Group lifted their target price on Edwards Lifesciences from $71.00 to $75.00 and gave the company a “hold” rating in a research note on Friday, April 25th. Morgan Stanley lifted their target price on Edwards Lifesciences from $70.00 to $75.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 12th. Royal Bank of Canada reissued an “outperform” rating and issued a $85.00 target price on shares of Edwards Lifesciences in a research note on Wednesday, February 12th. Piper Sandler lifted their target price on Edwards Lifesciences from $80.00 to $83.00 and gave the company an “overweight” rating in a research note on Tuesday, May 13th. Finally, Wall Street Zen cut Edwards Lifesciences from a “buy” rating to a “hold” rating in a research note on Friday, May 16th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $80.20.

Edwards Lifesciences Trading Up 0.3%

EW stock opened at $77.95 on Monday. The business has a fifty day moving average price of $73.76 and a 200 day moving average price of $72.64. The stock has a market capitalization of $45.73 billion, a price-to-earnings ratio of 11.18, a P/E/G ratio of 4.82 and a beta of 1.12. Edwards Lifesciences has a fifty-two week low of $58.93 and a fifty-two week high of $95.25. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.46 and a quick ratio of 2.89.

Edwards Lifesciences (NYSE:EW) last released its earnings results on Wednesday, April 23rd. The medical research company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.60 by $0.04. The company had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.40 billion. Edwards Lifesciences had a return on equity of 19.40% and a net margin of 72.93%. The business’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same period last year, the firm earned $0.66 EPS. Analysts expect that Edwards Lifesciences will post 2.45 EPS for the current fiscal year.

Insiders Place Their Bets

In other Edwards Lifesciences news, VP Donald E. Bobo, Jr. sold 2,570 shares of Edwards Lifesciences stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $77.40, for a total transaction of $198,918.00. Following the transaction, the vice president now directly owns 50,356 shares in the company, valued at approximately $3,897,554.40. The trade was a 4.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Bernard J. Zovighian sold 6,164 shares of Edwards Lifesciences stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $69.51, for a total value of $428,459.64. Following the transaction, the chief executive officer now owns 59,083 shares in the company, valued at approximately $4,106,859.33. This represents a 9.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 59,012 shares of company stock worth $4,224,717. Corporate insiders own 1.29% of the company’s stock.

Institutional Trading of Edwards Lifesciences

A number of institutional investors have recently modified their holdings of EW. Prosperity Consulting Group LLC lifted its stake in shares of Edwards Lifesciences by 3.6% in the 4th quarter. Prosperity Consulting Group LLC now owns 3,906 shares of the medical research company’s stock valued at $289,000 after acquiring an additional 134 shares during the last quarter. Arlington Trust Co LLC increased its holdings in Edwards Lifesciences by 1.2% in the first quarter. Arlington Trust Co LLC now owns 11,092 shares of the medical research company’s stock valued at $804,000 after purchasing an additional 135 shares during the period. Abacus Planning Group Inc. increased its holdings in Edwards Lifesciences by 0.3% in the fourth quarter. Abacus Planning Group Inc. now owns 40,207 shares of the medical research company’s stock valued at $2,977,000 after purchasing an additional 140 shares during the period. Valeo Financial Advisors LLC increased its holdings in Edwards Lifesciences by 2.8% in the first quarter. Valeo Financial Advisors LLC now owns 5,136 shares of the medical research company’s stock valued at $372,000 after purchasing an additional 142 shares during the period. Finally, Versant Capital Management Inc increased its holdings in Edwards Lifesciences by 9.3% in the first quarter. Versant Capital Management Inc now owns 1,698 shares of the medical research company’s stock valued at $123,000 after purchasing an additional 145 shares during the period. 79.46% 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, 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.