Edwards Lifesciences (EW) Coverage Initiated at Sanford C. Bernstein

Analysts at Sanford C. Bernstein assumed coverage on shares of Edwards Lifesciences (NYSE:EW) in a research note issued on Wednesday, Marketbeat reports. The brokerage set a “market perform” rating and a $165.00 price target on the medical research company’s stock. Sanford C. Bernstein’s price objective indicates a potential upside of 12.45% from the company’s current price.

Other research analysts have also issued reports about the stock. ValuEngine lowered shares of Edwards Lifesciences from a “buy” rating to a “hold” rating in a report on Wednesday, June 6th. SunTrust Banks reiterated a “buy” rating and set a $180.00 price objective on shares of Edwards Lifesciences in a report on Tuesday, April 10th. Royal Bank of Canada increased their price objective on shares of Edwards Lifesciences to $145.00 and gave the stock an “outperform” rating in a report on Wednesday, May 23rd. Zacks Investment Research lowered shares of Edwards Lifesciences from a “buy” rating to a “hold” rating in a report on Wednesday, April 4th. Finally, Cowen reiterated a “buy” rating and set a $165.00 price objective on shares of Edwards Lifesciences in a report on Tuesday, March 20th. Six equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Edwards Lifesciences currently has a consensus rating of “Buy” and an average price target of $150.00.

Shares of Edwards Lifesciences opened at $146.73 on Wednesday, Marketbeat reports. The stock has a market cap of $31.67 billion, a PE ratio of 38.61, a P/E/G ratio of 2.20 and a beta of 0.65. Edwards Lifesciences has a 1-year low of $100.20 and a 1-year high of $155.22. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.63 and a current ratio of 2.07.

Edwards Lifesciences (NYSE:EW) last announced its quarterly earnings data on Tuesday, April 24th. The medical research company reported $1.22 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.11 by $0.11. The business had revenue of $938.00 million for the quarter, compared to analyst estimates of $936.69 million. Edwards Lifesciences had a net margin of 17.36% and a return on equity of 28.60%. The company’s revenue was up 6.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.94 EPS. analysts forecast that Edwards Lifesciences will post 4.63 earnings per share for the current fiscal year.

In other Edwards Lifesciences news, VP Larry L. Wood sold 6,300 shares of the stock in a transaction that occurred on Friday, June 15th. The shares were sold at an average price of $151.86, for a total value of $956,718.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Donald E. Bobo, Jr. sold 5,500 shares of the stock in a transaction that occurred on Wednesday, June 13th. The shares were sold at an average price of $150.00, for a total transaction of $825,000.00. Following the completion of the sale, the vice president now directly owns 25,512 shares of the company’s stock, valued at approximately $3,826,800. The disclosure for this sale can be found here. In the last three months, insiders have sold 230,582 shares of company stock valued at $31,499,888. Corporate insiders own 1.84% of the company’s stock.

A number of large investors have recently modified their holdings of the business. Tower Research Capital LLC TRC grew its position in shares of Edwards Lifesciences by 185.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,868 shares of the medical research company’s stock worth $210,000 after buying an additional 1,213 shares in the last quarter. Standard Life Aberdeen plc grew its position in shares of Edwards Lifesciences by 1.7% during the fourth quarter. Standard Life Aberdeen plc now owns 63,722 shares of the medical research company’s stock worth $7,183,000 after buying an additional 1,050 shares in the last quarter. Financial Counselors Inc. grew its position in shares of Edwards Lifesciences by 6.0% during the fourth quarter. Financial Counselors Inc. now owns 13,369 shares of the medical research company’s stock worth $1,507,000 after buying an additional 762 shares in the last quarter. Mackenzie Financial Corp grew its position in shares of Edwards Lifesciences by 30.5% during the fourth quarter. Mackenzie Financial Corp now owns 5,686 shares of the medical research company’s stock worth $641,000 after buying an additional 1,329 shares in the last quarter. Finally, Amalgamated Bank grew its position in shares of Edwards Lifesciences by 9.6% during the fourth quarter. Amalgamated Bank now owns 27,644 shares of the medical research company’s stock worth $3,116,000 after buying an additional 2,420 shares in the last quarter. 80.89% of the stock is owned by institutional investors.

Edwards Lifesciences Company Profile

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.

Analyst Recommendations for Edwards Lifesciences (NYSE:EW)

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