Edwards Lifesciences (NYSE:EW) had its price objective raised by Royal Bank of Canada to $145.00 in a research report report published on Wednesday morning. The firm currently has an outperform rating on the medical research company’s stock.
A number of other equities research analysts have also recently weighed in on the company. Zacks Investment Research cut Edwards Lifesciences from a buy rating to a hold rating in a research note on Wednesday, April 4th. SunTrust Banks restated a buy rating and set a $180.00 price objective on shares of Edwards Lifesciences in a research note on Tuesday, April 10th. Canaccord Genuity restated a buy rating and set a $174.00 price objective (up from $140.00) on shares of Edwards Lifesciences in a research note on Friday, February 2nd. Cowen restated a buy rating and set a $165.00 price objective on shares of Edwards Lifesciences in a research note on Tuesday, March 20th. Finally, Barclays upped their price objective on Edwards Lifesciences from $135.00 to $155.00 and gave the stock an overweight rating in a research note on Friday, February 2nd. Five analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. The stock has an average rating of Buy and a consensus target price of $148.87.
Shares of Edwards Lifesciences opened at $135.95 on Wednesday, according to MarketBeat Ratings. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.07 and a quick ratio of 1.63. The firm has a market cap of $28.66 billion, a P/E ratio of 35.78, a P/E/G ratio of 1.99 and a beta of 0.64. Edwards Lifesciences has a 1-year low of $100.20 and a 1-year high of $143.22.
Edwards Lifesciences (NYSE:EW) last issued its quarterly earnings data on Tuesday, April 24th. The medical research company reported $1.22 earnings per share for the quarter, topping analysts’ consensus estimates of $1.11 by $0.11. The firm had revenue of $938.00 million during the quarter, compared to analysts’ expectations of $936.69 million. Edwards Lifesciences had a return on equity of 28.60% and a net margin of 17.36%. The firm’s quarterly revenue was up 6.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.94 EPS. equities analysts forecast that Edwards Lifesciences will post 4.63 EPS for the current fiscal year.
In other Edwards Lifesciences news, CFO Scott B. Ullem sold 25,000 shares of the stock in a transaction dated Wednesday, March 28th. The stock was sold at an average price of $137.33, for a total value of $3,433,250.00. Following the completion of the sale, the chief financial officer now directly owns 35,968 shares in the company, valued at $4,939,485.44. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Huimin Wang sold 3,800 shares of the stock in a transaction dated Monday, March 19th. The shares were sold at an average price of $141.84, for a total value of $538,992.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 268,815 shares of company stock valued at $36,597,924. 1.84% of the stock is currently owned by company insiders.
Several hedge funds have recently made changes to their positions in EW. Optimum Investment Advisors acquired a new position in shares of Edwards Lifesciences in the first quarter valued at about $110,000. IHT Wealth Management LLC increased its holdings in shares of Edwards Lifesciences by 84.6% in the first quarter. IHT Wealth Management LLC now owns 932 shares of the medical research company’s stock valued at $126,000 after purchasing an additional 427 shares during the period. Cerebellum GP LLC acquired a new position in shares of Edwards Lifesciences in the fourth quarter valued at about $128,000. Resources Investment Advisors Inc. increased its holdings in shares of Edwards Lifesciences by 66.0% in the fourth quarter. Resources Investment Advisors Inc. now owns 1,170 shares of the medical research company’s stock valued at $132,000 after purchasing an additional 465 shares during the period. Finally, Exane Derivatives increased its holdings in shares of Edwards Lifesciences by 381.3% in the fourth quarter. Exane Derivatives now owns 1,213 shares of the medical research company’s stock valued at $137,000 after purchasing an additional 961 shares during the period. 81.03% of the stock is currently owned by institutional investors and hedge funds.
About Edwards Lifesciences
Edwards Lifesciences Corporation provides products and technologies to treat structural heart disease and critically ill patients in the United States and internationally. It offers transcatheter heart valve therapy products comprising transcatheter aortic heart valves and related delivery systems for the nonsurgical replacement of heart valves.
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