Analyst Predicts Rise in Edwards Lifesciences Stock Price

Edwards Lifesciences (NYSE:EW) has recently seen its stock price target increased by analysts at Citigroup. In a research report released on Wednesday, Citigroup raised its price target from $81.00 to $83.00, indicating that they maintain a ‘buy’ rating for the medtech company. This new target suggests a potential upside of approximately 12.21% from the stock's current trading price.

In addition to Citigroup's update, other analysts have also shared their insights on Edwards Lifesciences. Canaccord Genuity Group increased their price objective from $63.00 to $68.00 and rated the stock as a ‘hold’ in a report published on December 5th. Stifel Nicolaus similarly raised their target price from $70.00 to $75.00 with a ‘hold’ rating. On the same day, the Royal Bank of Canada raised their target to $85.00 and categorized the stock as ‘outperform’. Conversely, Robert W. Baird lowered their price target from $73.00 to $68.00, maintaining a ‘neutral’ rating. Lastly, Morgan Stanley confirmed an ‘equal weight’ rating with a target price set at $70.00. Overall, MarketBeat.com reports that there are seventeen analysts who classify the stock as a hold and ten who have assigned a buy rating.

Current Stock Performance

On Wednesday, shares of Edwards Lifesciences opened at $73.97. The company's market capitalization sits at approximately $43.63 billion, with a price-to-earnings (P/E) ratio of 10.67 and a price-to-earnings-growth (PEG) ratio of 3.52. It has demonstrated a beta of 1.12. Over the past year, the stock has fluctuated between a low of $58.93 and a high of $96.12. The fifty-day moving average is currently $69.09, while the two-hundred-day moving average stands at $74.19. The company's financial health is further indicated by a debt-to-equity ratio of 0.06, a current ratio of 3.46, and a quick ratio of 2.89.

Recent Earnings Report

Edwards Lifesciences previously disclosed its quarterly earnings data on October 24th. For that quarter, the company reported earnings per share (EPS) of $0.67, aligning with analysts' expectations. The company's return on equity was recorded at 20.76%, alongside a notable net margin of 70.82%. Revenue reached $1.35 billion for the quarter, coming in lower than the anticipated $1.57 billion but reflecting an 8.9% increase compared to the previous year. Analysts predict that Edwards Lifesciences is on track to post an EPS of 2.56 for the current year.

Insider Transactions

In more insider trading news, VP Donald E. Bobo, Jr. sold 5,000 shares on October 15th at an average price of $69.51, totaling approximately $347,550. This transaction lowered his direct ownership to 46,936 shares, valued at about $3.26 million. Additionally, insider Larry L. Wood sold 25,000 shares on November 5th for around $1.65 million, decreasing his ownership stake to 198,526 shares valued at approximately $13.08 million. Collectively, insider activity over the last quarter involved the sale of 35,000 shares worth a total of around $2.32 million, with insiders currently holding 1.29% of the company's stock.

Institutional Investment Trends

Institutional investors and hedge funds have made various changes to their stakes in Edwards Lifesciences recently. FSA Wealth Management LLC acquired a new position valued at approximately $30,000 in the third quarter, while Prospera Private Wealth LLC followed suit with a stake worth about $32,000. Avior Wealth Management LLC also escalated its position by 138.7%, now holding 530 shares valued at $35,000 after purchasing an additional 308 shares. HHM Wealth Advisors and Peoples Bank KS added new positions valued at approximately $55,000 and $40,000, respectively. Notably, institutional investors and hedge funds collectively hold 79.46% of the company's stock.

About Edwards Lifesciences

Edwards Lifesciences Corporation specializes in developing products and technologies tailored for treating structural heart disease and monitoring critical care across the globe, particularly in the United States, Europe, and Japan. The company is recognized for its transcatheter heart valve replacement systems, like the Edwards SAPIEN valves, that offer minimally invasive solutions for aortic valve replacement. They also develop products for repairing and replacing mitral and tricuspid valves under the PASCAL PRECISION and Cardioband brands.

Edwards, Lifesciences, Stock