Cowen set a $135.00 price objective on Edwards Lifesciences (NYSE:EW) in a research report report published on Sunday. The brokerage currently has a buy rating on the medical research company’s stock.
A number of other equities research analysts also recently issued reports on the stock. BMO Capital Markets reissued a buy rating and set a $132.00 price objective on shares of Edwards Lifesciences in a research report on Friday, September 1st. William Blair reissued an outperform rating on shares of Edwards Lifesciences in a research report on Monday, August 28th. Royal Bank Of Canada reissued a buy rating and set a $130.00 price objective on shares of Edwards Lifesciences in a research report on Friday, September 1st. SunTrust Banks set a $124.00 price objective on shares of Edwards Lifesciences and gave the company a buy rating in a research report on Wednesday, October 25th. Finally, Morgan Stanley cut their price objective on shares of Edwards Lifesciences from $133.00 to $120.00 and set an overweight rating for the company in a research report on Thursday, October 26th. Six research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. Edwards Lifesciences has a consensus rating of Buy and an average target price of $126.43.
Edwards Lifesciences (NYSE EW) traded up $0.58 during trading hours on Friday, reaching $118.03. 1,405,500 shares of the company’s stock were exchanged, compared to its average volume of 1,642,867. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.76 and a current ratio of 3.49. Edwards Lifesciences has a fifty-two week low of $86.55 and a fifty-two week high of $121.45. The company has a market cap of $24,977.50, a P/E ratio of 32.69, a PEG ratio of 2.11 and a beta of 0.51.
Edwards Lifesciences (NYSE:EW) last posted its earnings results on Tuesday, October 24th. The medical research company reported $0.84 EPS for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.02). Edwards Lifesciences had a return on equity of 27.22% and a net margin of 22.47%. The company had revenue of $821.50 million during the quarter, compared to the consensus estimate of $833.85 million. During the same period last year, the firm posted $0.68 EPS. The company’s revenue for the quarter was up 11.1% on a year-over-year basis. equities analysts predict that Edwards Lifesciences will post 3.76 earnings per share for the current year.
Edwards Lifesciences announced that its Board of Directors has approved a stock repurchase program on Thursday, December 7th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the medical research company to reacquire shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.
In other Edwards Lifesciences news, CEO Michael A. Mussallem sold 32,900 shares of the business’s stock in a transaction on Monday, October 30th. The shares were sold at an average price of $100.93, for a total value of $3,320,597.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Donald E. Bobo, Jr. sold 5,300 shares of the business’s stock in a transaction on Friday, September 29th. The stock was sold at an average price of $108.86, for a total transaction of $576,958.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 139,580 shares of company stock worth $14,849,205. Corporate insiders own 2.13% of the company’s stock.
Hedge funds have recently made changes to their positions in the business. GSA Capital Partners LLP raised its position in shares of Edwards Lifesciences by 594.9% during the 3rd quarter. GSA Capital Partners LLP now owns 22,565 shares of the medical research company’s stock valued at $2,467,000 after buying an additional 19,318 shares in the last quarter. Belpointe Asset Management LLC purchased a new stake in shares of Edwards Lifesciences during the 3rd quarter valued at about $354,000. IFM Investors Pty Ltd purchased a new stake in shares of Edwards Lifesciences during the 3rd quarter valued at about $637,000. Dana Investment Advisors Inc. raised its position in shares of Edwards Lifesciences by 772.9% during the 3rd quarter. Dana Investment Advisors Inc. now owns 27,462 shares of the medical research company’s stock valued at $3,002,000 after buying an additional 24,316 shares in the last quarter. Finally, Sterling Capital Management LLC raised its position in shares of Edwards Lifesciences by 6.2% during the 3rd quarter. Sterling Capital Management LLC now owns 25,351 shares of the medical research company’s stock valued at $2,771,000 after buying an additional 1,471 shares in the last quarter. Institutional investors and hedge funds own 81.82% of the company’s stock.
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Edwards Lifesciences Company Profile
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.
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