Edwards Lifesciences Corporation (EW) Receives $120.32 Average PT from Analysts

Shares of Edwards Lifesciences Corporation (NYSE:EW) have earned a consensus recommendation of “Buy” from the twenty-four ratings firms that are currently covering the firm, MarketBeat reports. Seven analysts have rated the stock with a hold recommendation, sixteen have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $125.72.

A number of analysts have recently weighed in on the stock. Deutsche Bank AG cut their price objective on shares of Edwards Lifesciences Corporation from $122.00 to $115.00 and set a “hold” rating on the stock in a research note on Thursday. Morgan Stanley cut their price objective on shares of Edwards Lifesciences Corporation from $133.00 to $120.00 and set an “overweight” rating on the stock in a research note on Thursday. Barclays PLC cut their price objective on shares of Edwards Lifesciences Corporation from $120.00 to $118.00 and set an “equal weight” rating on the stock in a research note on Wednesday. SunTrust Banks, Inc. set a $124.00 price objective on shares of Edwards Lifesciences Corporation and gave the stock a “buy” rating in a research note on Wednesday. Finally, Canaccord Genuity reiterated a “buy” rating and issued a $135.00 price objective (down previously from $155.00) on shares of Edwards Lifesciences Corporation in a research note on Wednesday.

In related news, CEO Michael A. Mussallem sold 32,900 shares of Edwards Lifesciences Corporation stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $114.80, for a total value of $3,776,920.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Donald E. Bobo, Jr. sold 25,000 shares of Edwards Lifesciences Corporation stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $116.00, for a total transaction of $2,900,000.00. The disclosure for this sale can be found here. Insiders sold 195,861 shares of company stock valued at $22,218,268 in the last 90 days. Company insiders own 2.13% of the company’s stock.

Several hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in shares of Edwards Lifesciences Corporation by 2.0% in the second quarter. Vanguard Group Inc. now owns 20,748,569 shares of the medical research company’s stock valued at $2,453,311,000 after purchasing an additional 406,901 shares in the last quarter. BlackRock Inc. grew its holdings in shares of Edwards Lifesciences Corporation by 0.8% in the second quarter. BlackRock Inc. now owns 14,109,514 shares of the medical research company’s stock valued at $1,668,309,000 after purchasing an additional 105,819 shares in the last quarter. State Street Corp grew its holdings in shares of Edwards Lifesciences Corporation by 1.7% in the first quarter. State Street Corp now owns 9,388,994 shares of the medical research company’s stock valued at $883,219,000 after purchasing an additional 157,844 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Edwards Lifesciences Corporation by 161.7% in the second quarter. Bank of New York Mellon Corp now owns 5,304,536 shares of the medical research company’s stock valued at $627,207,000 after purchasing an additional 3,277,726 shares in the last quarter. Finally, Winslow Capital Management LLC grew its holdings in shares of Edwards Lifesciences Corporation by 0.8% in the first quarter. Winslow Capital Management LLC now owns 2,654,484 shares of the medical research company’s stock valued at $249,707,000 after purchasing an additional 19,887 shares in the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

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Edwards Lifesciences Corporation (NYSE EW) traded down 1.40% during midday trading on Friday, reaching $101.92. 1,951,568 shares of the company’s stock were exchanged. Edwards Lifesciences Corporation has a 12-month low of $81.12 and a 12-month high of $121.45. The stock’s 50-day moving average is $111.02 and its 200-day moving average is $112.41. The stock has a market capitalization of $21.52 billion, a price-to-earnings ratio of 30.91 and a beta of 0.62.

Edwards Lifesciences Corporation (NYSE:EW) last posted its quarterly earnings results on Tuesday, October 24th. The medical research company reported $0.84 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.86 by ($0.02). The company had revenue of $821.50 million during the quarter, compared to analysts’ expectations of $833.85 million. Edwards Lifesciences Corporation had a return on equity of 27.22% and a net margin of 22.47%. The company’s quarterly revenue was up 11.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.68 EPS. On average, equities analysts forecast that Edwards Lifesciences Corporation will post $3.75 earnings per share for the current year.

About Edwards Lifesciences Corporation

Edwards Lifesciences Corporation is a manufacturer of heart valve systems and repair products used to replace or repair a patient’s diseased or defective heart valve. The Company is engaged in patient-focused innovations for structural heart disease and critical care monitoring. Its segments include United States, Europe, Japan and Rest of World.

Analyst Recommendations for Edwards Lifesciences Corporation (NYSE:EW)

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