Research analysts at Evercore ISI started coverage on shares of Edwards Lifesciences (NYSE:EW) in a note issued to investors on Wednesday, January 3rd, Marketbeat.com reports. The firm set an “outperform” rating and a $140.00 price target on the medical research company’s stock. Evercore ISI’s price target points to a potential upside of 15.87% from the stock’s previous close.
Several other equities analysts have also commented on EW. Canaccord Genuity reaffirmed a “buy” rating and issued a $135.00 price target (down previously from $155.00) on shares of Edwards Lifesciences in a research note on Wednesday, October 25th. SunTrust Banks set a $124.00 price target on Edwards Lifesciences and gave the stock a “buy” rating in a report on Wednesday, October 25th. Morgan Stanley cut their price target on Edwards Lifesciences from $133.00 to $120.00 and set an “overweight” rating on the stock in a report on Thursday, October 26th. Barclays reiterated an “equal weight” rating and issued a $120.00 price objective on shares of Edwards Lifesciences in a report on Saturday, September 30th. Finally, Zacks Investment Research downgraded Edwards Lifesciences from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 26th. Six research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $129.57.
Shares of Edwards Lifesciences (NYSE:EW) traded up $0.86 on Wednesday, hitting $120.83. The company had a trading volume of 1,030,000 shares, compared to its average volume of 1,500,000. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.49 and a quick ratio of 2.76. Edwards Lifesciences has a 52-week low of $86.55 and a 52-week high of $121.45. The stock has a market capitalization of $25,570.00, a PE ratio of 35.13, a price-to-earnings-growth ratio of 1.92 and a beta of 0.51.
Edwards Lifesciences (NYSE:EW) last released its quarterly earnings data on Tuesday, October 24th. The medical research company reported $0.84 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.86 by ($0.02). The company had revenue of $821.50 million for the quarter, compared to analyst estimates of $833.85 million. Edwards Lifesciences had a return on equity of 27.22% and a net margin of 22.47%. The business’s quarterly revenue was up 11.1% on a year-over-year basis. During the same period last year, the firm posted $0.68 EPS. sell-side analysts predict that Edwards Lifesciences will post 3.76 EPS for the current year.
Edwards Lifesciences declared that its board has authorized a stock repurchase program on Thursday, December 7th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the medical research company to reacquire shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.
In related news, VP Donald E. Bobo, Jr. sold 5,300 shares of Edwards Lifesciences stock in a transaction on Friday, December 28th. The stock was sold at an average price of $114.08, for a total value of $604,624.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Michael A. Mussallem sold 32,900 shares of Edwards Lifesciences 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 disclosure for this sale can be found here. Insiders have sold 210,480 shares of company stock valued at $23,056,527 in the last three months. 2.13% of the stock is currently owned by company insiders.
Several institutional investors and hedge funds have recently modified their holdings of EW. Veritable L.P. increased its holdings in Edwards Lifesciences by 1.2% in the second quarter. Veritable L.P. now owns 6,244 shares of the medical research company’s stock valued at $738,000 after buying an additional 71 shares during the last quarter. Stephens Inc. AR increased its holdings in Edwards Lifesciences by 1.2% in the second quarter. Stephens Inc. AR now owns 7,831 shares of the medical research company’s stock valued at $926,000 after buying an additional 91 shares during the last quarter. Johnson Financial Group Inc. increased its holdings in Edwards Lifesciences by 7.1% in the second quarter. Johnson Financial Group Inc. now owns 1,639 shares of the medical research company’s stock valued at $194,000 after buying an additional 109 shares during the last quarter. Advisory Services Network LLC increased its holdings in Edwards Lifesciences by 0.9% in the second quarter. Advisory Services Network LLC now owns 12,565 shares of the medical research company’s stock valued at $1,486,000 after buying an additional 112 shares during the last quarter. Finally, Kingfisher Capital LLC increased its holdings in Edwards Lifesciences by 1.9% in the second quarter. Kingfisher Capital LLC now owns 8,454 shares of the medical research company’s stock valued at $1,000,000 after buying an additional 159 shares during the last quarter. Institutional investors own 81.36% 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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