Edwards Lifesciences (NYSE:EW) had its price objective increased by equities researchers at Morgan Stanley from $157.00 to $180.00 in a research report issued on Friday. The firm presently has an “overweight” rating on the medical research company’s stock. Morgan Stanley’s target price would suggest a potential upside of 10.21% from the company’s previous close.
A number of other brokerages have also commented on EW. SunTrust Banks cut their price target on Edwards Lifesciences to $170.00 and set a “buy” rating on the stock in a report on Friday, August 10th. ValuEngine upgraded Edwards Lifesciences from a “hold” rating to a “buy” rating in a report on Wednesday, September 19th. Zacks Investment Research upgraded Edwards Lifesciences from a “hold” rating to a “buy” rating and set a $185.00 target price on the stock in a report on Wednesday, September 26th. Guggenheim lowered Edwards Lifesciences from a “buy” rating to a “neutral” rating in a report on Tuesday, October 2nd. Finally, Bank of America lowered Edwards Lifesciences from a “buy” rating to a “neutral” rating in a report on Tuesday, October 2nd. Two analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have given a buy rating to the stock. Edwards Lifesciences currently has an average rating of “Buy” and an average target price of $162.85.
NYSE:EW opened at $163.33 on Friday. Edwards Lifesciences has a 1 year low of $110.68 and a 1 year high of $175.00. The company has a quick ratio of 1.85, a current ratio of 2.31 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $32.89 billion, a price-to-earnings ratio of 42.98, a price-to-earnings-growth ratio of 2.07 and a beta of 0.90.
Edwards Lifesciences (NYSE:EW) last posted its earnings results on Tuesday, October 23rd. The medical research company reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.02 by $0.05. Edwards Lifesciences had a return on equity of 30.11% and a net margin of 20.67%. The firm had revenue of $906.60 million during the quarter, compared to analysts’ expectations of $927.56 million. During the same period in the previous year, the firm earned $0.84 earnings per share. The company’s revenue was up 10.4% on a year-over-year basis. As a group, equities research analysts anticipate that Edwards Lifesciences will post 4.7 earnings per share for the current year.
In other news, CEO Michael A. Mussallem sold 32,900 shares of the company’s stock in a transaction that occurred on Wednesday, September 12th. The stock was sold at an average price of $144.02, for a total value of $4,738,258.00. Following the transaction, the chief executive officer now owns 76,026 shares of the company’s stock, valued at $10,949,264.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Schack Wesley W. Von sold 1,319 shares of the company’s stock in a transaction that occurred on Thursday, November 29th. The shares were sold at an average price of $160.96, for a total value of $212,306.24. Following the completion of the transaction, the director now directly owns 2,134 shares in the company, valued at approximately $343,488.64. The disclosure for this sale can be found here. Insiders sold 183,356 shares of company stock worth $27,011,207 in the last ninety days. 1.84% of the stock is owned by company insiders.
Several institutional investors have recently bought and sold shares of the company. Raymond James Financial Services Advisors Inc. grew its position in Edwards Lifesciences by 36.5% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 12,442 shares of the medical research company’s stock worth $1,811,000 after buying an additional 3,327 shares in the last quarter. Alps Advisors Inc. acquired a new stake in Edwards Lifesciences during the second quarter worth approximately $463,000. TD Asset Management Inc. grew its position in Edwards Lifesciences by 2.9% during the second quarter. TD Asset Management Inc. now owns 82,295 shares of the medical research company’s stock worth $11,980,000 after buying an additional 2,328 shares in the last quarter. LMR Partners LLP grew its position in Edwards Lifesciences by 133.3% during the second quarter. LMR Partners LLP now owns 4,508 shares of the medical research company’s stock worth $656,000 after buying an additional 2,576 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in Edwards Lifesciences during the second quarter worth approximately $3,212,000. 82.55% of the stock is currently 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.
Read More: Rule of 72
Receive News & Ratings for Edwards Lifesciences Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Edwards Lifesciences and related companies with MarketBeat.com's FREE daily email newsletter.