Truist Financial Forecasts Strong Price Appreciation for Edwards Lifesciences (NYSE:EW) Stock

Edwards Lifesciences (NYSE:EW) had its price objective hoisted by investment analysts at Truist Financial from $82.00 to $87.00 in a report issued on Tuesday,Benzinga reports. The firm presently has a “hold” rating on the medical research company’s stock. Truist Financial’s target price suggests a potential upside of 5.16% from the stock’s previous close.

Other equities analysts have also recently issued reports about the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Edwards Lifesciences in a research note on Wednesday, October 8th. Wells Fargo & Company increased their price objective on shares of Edwards Lifesciences from $84.00 to $88.00 and gave the company an “overweight” rating in a report on Thursday, August 7th. Deutsche Bank Aktiengesellschaft raised their price objective on Edwards Lifesciences from $85.00 to $94.00 and gave the company a “buy” rating in a research report on Friday, July 25th. The Goldman Sachs Group reiterated a “buy” rating on shares of Edwards Lifesciences in a research report on Friday, July 25th. Finally, Daiwa America raised Edwards Lifesciences from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 29th. Three research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $87.89.

Edwards Lifesciences Trading Up 0.7%

EW stock opened at $82.73 on Tuesday. The company has a debt-to-equity ratio of 0.06, a current ratio of 4.68 and a quick ratio of 3.87. Edwards Lifesciences has a 1-year low of $64.89 and a 1-year high of $84.66. The business has a 50 day simple moving average of $77.52 and a two-hundred day simple moving average of $76.75. The company has a market capitalization of $48.57 billion, a price-to-earnings ratio of 11.90, a PEG ratio of 3.94 and a beta of 1.05.

Insider Buying and Selling

In other Edwards Lifesciences news, insider Larry L. Wood sold 8,950 shares of the business’s stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $78.06, for a total transaction of $698,637.00. Following the sale, the insider directly owned 206,900 shares of the company’s stock, valued at $16,150,614. The trade was a 4.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 1.29% of the company’s stock.

Hedge Funds Weigh In On Edwards Lifesciences

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Rosenberg Matthew Hamilton purchased a new stake in Edwards Lifesciences during the 2nd quarter valued at $28,000. Quantbot Technologies LP purchased a new stake in shares of Edwards Lifesciences in the first quarter valued at $26,000. True Wealth Design LLC lifted its holdings in shares of Edwards Lifesciences by 251.5% in the 3rd quarter. True Wealth Design LLC now owns 362 shares of the medical research company’s stock worth $28,000 after acquiring an additional 259 shares during the last quarter. NewSquare Capital LLC boosted its stake in shares of Edwards Lifesciences by 57.8% during the 2nd quarter. NewSquare Capital LLC now owns 366 shares of the medical research company’s stock worth $29,000 after purchasing an additional 134 shares during the period. Finally, SouthState Corp bought a new position in Edwards Lifesciences during the 1st quarter valued at about $27,000. 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.