Royal Bank of Canada Boosts Edwards Lifesciences (NYSE:EW) Price Target to $101.00

Edwards Lifesciences (NYSE:EW) had its price objective increased by Royal Bank of Canada from $95.00 to $101.00 in a research note published on Monday morning, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the medical research company’s stock.

Several other equities research analysts have also recently weighed in on the company. StockNews.com cut Edwards Lifesciences from a buy rating to a hold rating in a research note on Wednesday, March 20th. Wells Fargo & Company upgraded Edwards Lifesciences from an equal weight rating to an overweight rating and set a $94.00 price objective for the company in a research note on Friday, February 2nd. Bank of America upgraded Edwards Lifesciences from a neutral rating to a buy rating in a research note on Thursday, March 7th. OTR Global upgraded Edwards Lifesciences from a mixed rating to a positive rating in a research note on Tuesday, March 26th. Finally, Morgan Stanley boosted their price objective on Edwards Lifesciences from $95.00 to $103.00 and gave the company an overweight rating in a research note on Thursday, March 21st. One research analyst has rated the stock with a sell rating, seven have given a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus target price of $91.73.

Edwards Lifesciences Price Performance

EW stock opened at $87.24 on Monday. The business has a 50 day moving average price of $90.12 and a 200 day moving average price of $78.14. The stock has a market cap of $52.51 billion, a price-to-earnings ratio of 37.93, a PEG ratio of 4.42 and a beta of 1.05. Edwards Lifesciences has a fifty-two week low of $60.57 and a fifty-two week high of $96.12. The company has a quick ratio of 2.40, a current ratio of 3.38 and a debt-to-equity ratio of 0.09.

Edwards Lifesciences (NYSE:EW) last posted its earnings results on Tuesday, February 6th. The medical research company reported $0.64 earnings per share for the quarter, hitting the consensus estimate of $0.64. The firm had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.50 billion. Edwards Lifesciences had a return on equity of 23.56% and a net margin of 23.35%. The firm’s revenue was up 13.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.64 earnings per share. Equities research analysts anticipate that Edwards Lifesciences will post 2.76 earnings per share for the current fiscal year.

Insider Transactions at Edwards Lifesciences

In other Edwards Lifesciences news, CFO Scott B. Ullem sold 7,255 shares of the stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $78.29, for a total value of $567,993.95. Following the completion of the transaction, the chief financial officer now owns 19,248 shares in the company, valued at $1,506,925.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Edwards Lifesciences news, CFO Scott B. Ullem sold 7,255 shares of the stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $78.29, for a total value of $567,993.95. Following the completion of the transaction, the chief financial officer now owns 19,248 shares in the company, valued at $1,506,925.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Heisz Leslie Stone sold 7,056 shares of the stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $86.45, for a total value of $609,991.20. Following the completion of the transaction, the director now owns 26,980 shares of the company’s stock, valued at approximately $2,332,421. The disclosure for this sale can be found here. Insiders sold 194,004 shares of company stock worth $17,166,254 over the last 90 days. 1.27% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Nordea Investment Management AB increased its position in shares of Edwards Lifesciences by 1,224.1% in the fourth quarter. Nordea Investment Management AB now owns 1,610,412 shares of the medical research company’s stock valued at $123,261,000 after buying an additional 1,488,791 shares in the last quarter. Arlington Trust Co LLC increased its position in shares of Edwards Lifesciences by 5,092.4% in the fourth quarter. Arlington Trust Co LLC now owns 12,306 shares of the medical research company’s stock valued at $938,000 after buying an additional 12,069 shares in the last quarter. Versor Investments LP increased its position in shares of Edwards Lifesciences by 83.3% in the third quarter. Versor Investments LP now owns 4,496 shares of the medical research company’s stock valued at $311,000 after buying an additional 2,043 shares in the last quarter. HealthInvest Partners AB acquired a new stake in shares of Edwards Lifesciences during the fourth quarter valued at $1,587,000. Finally, Gateway Investment Advisers LLC boosted its stake in shares of Edwards Lifesciences by 12.2% during the fourth quarter. Gateway Investment Advisers LLC now owns 253,337 shares of the medical research company’s stock valued at $19,317,000 after acquiring an additional 27,519 shares during the last quarter. Hedge funds and other 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.