Zacks Investment Research lowered shares of Edwards Lifesciences (NYSE:EW) from a buy rating to a hold rating in a report released on Wednesday morning.
According to Zacks, “Over the past six months, Edwards Lifesciences has outperformed the broader industry. Th company witnessing growth across all segments in the last reported quarter buoys optimism. Also, we are upbeat about the raised 2018 revenue and earnings guidance. We are also encouraged with Edwards Lifesciences receiving CE Mark its self-expanding CENTERA valve. We are currently looking forward to the company’s buyout of Harpoon Medical which should significantly boost its Surgical Heart Valve Therapy portfolio. Management expects to gain traction in the ever-expanding TAVR market, based on increasing preference in favor of transcatheter aortic valve replacement as well as compelling clinical evidence, leading to strong adoption of THV therapy. However, tough competition in the cardiac devices market and reimbursement issues continue to pose challenges.”
Several other research firms have also issued reports on EW. Evercore ISI assumed coverage on Edwards Lifesciences in a research note on Wednesday, January 3rd. They set an outperform rating and a $140.00 price objective for the company. Morgan Stanley raised their target price on Edwards Lifesciences from $130.00 to $138.00 and gave the company an overweight rating in a research note on Friday, February 2nd. Canaccord Genuity restated a buy rating and issued a $174.00 target price (up from $140.00) on shares of Edwards Lifesciences in a research note on Friday, February 2nd. Cowen restated a buy rating and issued a $165.00 target price on shares of Edwards Lifesciences in a research note on Tuesday, March 20th. Finally, BMO Capital Markets restated a buy rating and issued a $137.00 target price on shares of Edwards Lifesciences in a research note on Friday, December 8th. Four analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. The stock has an average rating of Buy and an average target price of $144.16.
Edwards Lifesciences stock opened at $137.51 on Wednesday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.80 and a quick ratio of 1.41. Edwards Lifesciences has a 52-week low of $92.90 and a 52-week high of $143.22. The firm has a market cap of $28,880.40, a price-to-earnings ratio of 36.19, a P/E/G ratio of 2.02 and a beta of 0.58.
Edwards Lifesciences (NYSE:EW) last released its quarterly earnings data on Thursday, February 1st. The medical research company reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.03. Edwards Lifesciences had a return on equity of 27.78% and a net margin of 18.11%. The firm had revenue of $888.50 million during the quarter, compared to analyst estimates of $868.45 million. During the same period in the prior year, the company posted $0.75 earnings per share. The business’s revenue for the quarter was up 15.7% compared to the same quarter last year. equities analysts anticipate that Edwards Lifesciences will post 4.52 EPS for the current fiscal year.
In related news, VP Larry L. Wood sold 6,300 shares of the firm’s stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $121.00, for a total value of $762,300.00. Following the transaction, the vice president now owns 116,148 shares in the company, valued at $14,053,908. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Michael A. Mussallem sold 32,800 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $126.69, for a total value of $4,155,432.00. Following the completion of the transaction, the chief executive officer now owns 74,131 shares in the company, valued at approximately $9,391,656.39. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 191,603 shares of company stock valued at $25,589,717. 2.13% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of EW. JPMorgan Chase & Co. boosted its holdings in Edwards Lifesciences by 6.3% in the third quarter. JPMorgan Chase & Co. now owns 564,397 shares of the medical research company’s stock valued at $61,446,000 after acquiring an additional 33,347 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Edwards Lifesciences by 0.3% in the third quarter. Dimensional Fund Advisors LP now owns 593,513 shares of the medical research company’s stock valued at $64,875,000 after acquiring an additional 1,660 shares during the last quarter. Commerzbank Aktiengesellschaft FI boosted its holdings in Edwards Lifesciences by 8.4% in the third quarter. Commerzbank Aktiengesellschaft FI now owns 21,381 shares of the medical research company’s stock valued at $2,337,000 after acquiring an additional 1,657 shares during the last quarter. Stifel Financial Corp boosted its holdings in Edwards Lifesciences by 9.9% in the third quarter. Stifel Financial Corp now owns 51,359 shares of the medical research company’s stock valued at $5,617,000 after acquiring an additional 4,638 shares during the last quarter. Finally, Private Advisor Group LLC boosted its holdings in Edwards Lifesciences by 9.5% in the third quarter. Private Advisor Group LLC now owns 6,746 shares of the medical research company’s stock valued at $743,000 after acquiring an additional 583 shares during the last quarter. Institutional investors and hedge funds own 82.90% of the company’s stock.
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About Edwards Lifesciences
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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