On September 17, 2023, Edwards Lifesciences (NYSE:EW) received a downgrade from analysts at StockNews.com. The research report downgraded the company’s rating from “buy” to “hold”. As a result of this downgrade, shares of EW stock traded down $0.82 during mid-day trading on Friday, reaching $73.20.
Edwards Lifesciences has a trading volume of 3,985,637 shares, which is compared to its average volume of 3,165,992. The company’s 52-week low stands at $67.13 while its 52-week high is at $94.87. The stock’s 50-day moving average price is $81.72 and its 200-day moving average price is $83.95.
Additionally, Edwards Lifesciences has a debt-to-equity ratio of 0.09 and a current ratio of 3.15 along with a quick ratio of 2.30. In terms of market capitalization, the company sits at $44.50 billion with a P/E ratio of 32.39 and a P/E/G ratio of 3.95. Its beta is recorded as 1.03.
Various hedge funds have recently made changes to their holdings in EW stock as well. Advisors Asset Management Inc., for instance, has boosted its holdings in Edwards Lifesciences by just around 0.3% in the first quarter after purchasing an additional 117 shares during that period.
Apollon Wealth Management LLC also increased its holdings by approximately 1% in the same time frame after acquiring an additional 119 shares in the first quarter.
Geller Advisors LLC saw an increase of its position by around
6.5% in the first quarter as well, resulting in owning an additional
120 shares of the medical research company’s stock.
In terms of institutional investors’ positions, Allworth Financial LP raised its position by 2.5% in the first quarter, owning 5,015 shares of Edwards Lifesciences stock.
Rockland Trust Co. also expanded its position by 1.4% in the first quarter after purchasing an additional 122 shares.
It is worth noting that approximately 79.25% of the stock is owned by hedge funds and other institutional investors.
Moving on to the company’s financial performance, Edwards Lifesciences last released its earnings results on Wednesday, July 26th. The medical research company reported earnings per share (EPS) of $0.66 for the quarter, surpassing the consensus estimate of $0.65 by $0.01.
Edwards Lifesciences also achieved a net margin of 24.56% and a return on equity of 25.43%. The firm generated revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.51 billion.
When comparing this quarter to the same quarter in the previous year, Edwards Lifesciences observed a positive growth rate of 11.4% in terms of quarterly revenue.
Equities research analysts are forecasting that Edwards Lifesciences will post earnings per share (EPS) of $2.55 for the current year.
While it is uncertain what specifically led to StockNews.com’s downgrade from a “buy” rating to a “hold” rating for Edwards Lifesciences, investors should carefully consider these insights when making investment decisions about EW stock.
Edwards Lifesciences Corporation
EW
Buy
Updated on: 04/12/2023
Financial Health
Healthy
Debt to equity ratio: Neutral
Price to earnings ratio: Strong Buy
Price to book ratio: Strong Buy
DCF: Strong Buy
ROE: Neutral
Positive Ratings and Insider Sales: Insights into Edwards Lifesciences (EW)
Shares of Edwards Lifesciences (EW) received positive ratings and price targets from several research firms recently. Royal Bank of Canada reiterated an “outperform” rating and set a price target of $96.00 on August 17th. Similarly, 58.com upheld a “reiterates” rating on June 27th. Morgan Stanley, on the other hand, reaffirmed an “overweight” rating and established a price target of $102.00 on July 14th. Robert W. Baird initiated their coverage with an “outperform” rating and a price target of $107.00 on July 18th. Lastly, Citigroup increased their price target from $101.00 to $110.00 on July 10th.
The consensus rating for Edwards Lifesciences, according to Bloomberg.com, currently stands at “Hold,” with an average price target of $92.42 as of September 17, 2023.
In recent news related to the company, Vice President Donald E. Bobo Jr. sold 4,500 shares of Edwards Lifesciences stock on September 14th for an average price of $73.71 per share, resulting in a total value of $331,695.00. Following this transaction, Bobo now holds direct ownership of 39,503 shares in the company, valued at approximately $2,911,766.13.
Another insider sale occurred when Larry L. Wood, an insider at Edwards Lifesciences, sold 8,660 shares on the same day for an average price of $73.63 per share amounting to a total transaction value of $637,-
635.-80.- The Vice President’s current holding is calculated at approximately 213,-794,-652.-22.- This information was disclosed through a document filed with the SEC and can be accessed via the SEC website.
Additionally, VP Donald E.Bobo Jr. conducted another sale of 4,500 shares on September 14th at an average price of $73.71 per share, resulting in a total transaction value of $331,-695.- Following this sale, the Vice President now holds direct ownership of 39,503 shares valued at $2,911,766.-13.
The disclosure for these sales can be accessed through the provided hyperlink. Furthermore, over the past ninety days, insiders have sold shares totaling 174,359 with a combined value of $14,301,-522.- Insiders currently possess approximately 1.29% of the company’s stock.
These recent developments provide insights into both analyst ratings and insider activities concerning Edwards Lifesciences. Investors and stakeholders may find this information useful when making informed decisions related to their holdings in EW.
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