Stifel Nicolaus reiterated their buy rating on shares of Edwards Lifesciences (NYSE:EW) in a report released on Friday. The brokerage currently has a $155.00 target price on the medical research company’s stock.
Several other research firms also recently commented on EW. Canaccord Genuity reissued a buy rating and issued a $135.00 price objective (down from $155.00) on shares of Edwards Lifesciences in a research note on Wednesday, October 25th. Evercore ISI initiated coverage on Edwards Lifesciences in a research note on Wednesday, January 3rd. They issued an outperform rating and a $140.00 price objective for the company. Morgan Stanley increased their price objective on Edwards Lifesciences from $130.00 to $138.00 and gave the company an overweight rating in a research note on Friday. SunTrust Banks set a $124.00 target price on Edwards Lifesciences and gave the stock a buy rating in a research note on Wednesday, October 25th. Finally, BMO Capital Markets reaffirmed a buy rating and issued a $137.00 target price on shares of Edwards Lifesciences in a research note on Friday, December 8th. Four investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of Buy and an average price target of $139.25.
Edwards Lifesciences (EW) opened at $131.83 on Friday. Edwards Lifesciences has a 52 week low of $88.67 and a 52 week high of $138.48. The company has a quick ratio of 1.41, a current ratio of 1.81 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $27,897.85, a price-to-earnings ratio of 45.77, a P/E/G ratio of 2.01 and a beta of 0.63.
Edwards Lifesciences (NYSE:EW) last posted its quarterly earnings data on Thursday, February 1st. The medical research company reported $0.94 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.91 by $0.03. Edwards Lifesciences had a return on equity of 27.69% and a net margin of 18.11%. The firm had revenue of $888.50 million during the quarter, compared to the consensus estimate of $868.45 million. During the same period in the prior year, the company earned $0.75 EPS. The firm’s revenue was up 15.7% compared to the same quarter last year. equities analysts predict that Edwards Lifesciences will post 4.42 earnings per share for the current year.
Edwards Lifesciences announced that its Board of Directors has initiated a share repurchase program on Thursday, December 7th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the medical research company to repurchase shares of its stock through open market purchases. Shares repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.
In other news, Director Schack Wesley W. Von sold 1,000 shares of the stock in a transaction on Thursday, November 9th. The stock was sold at an average price of $104.15, for a total transaction of $104,150.00. Following the completion of the transaction, the director now directly owns 2,622 shares in the company, valued at approximately $273,081.30. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Michael A. Mussallem sold 32,900 shares of the stock in a transaction on Monday, November 20th. The stock was sold at an average price of $106.86, for a total value of $3,515,694.00. The disclosure for this sale can be found here. Insiders sold a total of 164,920 shares of company stock valued at $18,578,747 over the last ninety days. Corporate insiders own 2.13% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in EW. Victory Capital Management Inc. boosted its holdings in Edwards Lifesciences by 4.6% during the 3rd quarter. Victory Capital Management Inc. now owns 557,773 shares of the medical research company’s stock valued at $60,969,000 after acquiring an additional 24,399 shares during the period. Korea Investment CORP boosted its holdings in Edwards Lifesciences by 144.5% during the 3rd quarter. Korea Investment CORP now owns 355,683 shares of the medical research company’s stock valued at $38,880,000 after acquiring an additional 210,200 shares during the period. Raymond James Financial Services Advisors Inc. boosted its holdings in Edwards Lifesciences by 53.3% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 11,991 shares of the medical research company’s stock valued at $1,418,000 after acquiring an additional 4,170 shares during the period. Oakbrook Investments LLC boosted its holdings in Edwards Lifesciences by 25.7% during the 3rd quarter. Oakbrook Investments LLC now owns 19,050 shares of the medical research company’s stock valued at $2,082,000 after acquiring an additional 3,900 shares during the period. Finally, ING Groep NV boosted its holdings in Edwards Lifesciences by 41.2% during the 3rd quarter. ING Groep NV now owns 22,905 shares of the medical research company’s stock valued at $2,504,000 after acquiring an additional 6,684 shares during the period. Institutional investors and hedge funds own 81.52% 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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