Edwards Lifesciences (NYSE:EW) Upgraded at Zacks Investment Research

Edwards Lifesciences (NYSE:EW) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday, Zacks.com reports. The firm presently has a $189.00 price target on the medical research company’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 2.36% from the company’s previous close.

According to Zacks, “Edwards Lifesciences has been seeing strong transcatheter valve sales in the domestic and overseas markets. In the first quarter, it registered strong sales within Critical Care division, boosted by a surge in HemoSphere sales. Currently, Edwards Lifesciences awaits the full-market launch of the HemoSphere platform with FloTrac System and Acumen Hypotension Predictive Index. It is upbeat about the CASMED acquisition, expected to strengthen its position in smart monitoring technologies within the critical care platform. Further, we are pleased with Edwards Lifesciences’ receipt of the CE Mark for PASCAL. Overall, in the past three months, Edwards outperformed its industry. Meanwhile, persistent supply constraints dented Cardioband system sales. This apart, tough competition in the cardiac devices market and reimbursement issue pose concerns.”

A number of other equities analysts have also issued reports on EW. Stifel Nicolaus upped their target price on Edwards Lifesciences from $190.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Jefferies Financial Group upped their target price on Edwards Lifesciences from $195.00 to $210.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Credit Suisse Group upped their target price on Edwards Lifesciences from $189.00 to $221.00 and gave the company an “outperform” rating in a research report on Monday, April 15th. JPMorgan Chase & Co. upped their target price on Edwards Lifesciences from $175.00 to $190.00 and gave the company a “neutral” rating in a research report on Wednesday, March 27th. They noted that the move was a valuation call. Finally, BMO Capital Markets upped their target price on Edwards Lifesciences to $204.00 and gave the company an “outperform” rating in a research report on Friday, March 22nd. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and fourteen have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $186.52.

Edwards Lifesciences stock opened at $184.64 on Wednesday. The company has a market cap of $38.53 billion, a P/E ratio of 39.29, a P/E/G ratio of 2.36 and a beta of 0.85. The company has a current ratio of 3.66, a quick ratio of 2.69 and a debt-to-equity ratio of 0.19. Edwards Lifesciences has a one year low of $134.53 and a one year high of $197.86.

Edwards Lifesciences (NYSE:EW) last released its quarterly earnings results on Tuesday, April 23rd. The medical research company reported $1.32 EPS for the quarter, topping the consensus estimate of $1.23 by $0.09. The firm had revenue of $993.00 million for the quarter, compared to analyst estimates of $989.87 million. Edwards Lifesciences had a return on equity of 31.16% and a net margin of 20.03%. Edwards Lifesciences’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.22 EPS. Sell-side analysts expect that Edwards Lifesciences will post 5.29 EPS for the current year.

In related news, VP Catherine M. Szyman sold 1,474 shares of the company’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $192.00, for a total transaction of $283,008.00. Following the sale, the vice president now directly owns 21,132 shares of the company’s stock, valued at approximately $4,057,344. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Robert W.A. Sellers sold 821 shares of the company’s stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $175.36, for a total value of $143,970.56. Following the sale, the vice president now directly owns 14,176 shares in the company, valued at $2,485,903.36. The disclosure for this sale can be found here. Over the last three months, insiders have sold 143,360 shares of company stock worth $25,719,260. Corporate insiders own 1.63% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Advisors Asset Management Inc. lifted its holdings in shares of Edwards Lifesciences by 4.5% in the 4th quarter. Advisors Asset Management Inc. now owns 30,477 shares of the medical research company’s stock worth $4,668,000 after acquiring an additional 1,310 shares during the last quarter. BB&T Securities LLC lifted its holdings in shares of Edwards Lifesciences by 0.9% in the 4th quarter. BB&T Securities LLC now owns 8,179 shares of the medical research company’s stock worth $1,252,000 after acquiring an additional 70 shares during the last quarter. Daiwa Securities Group Inc. lifted its holdings in shares of Edwards Lifesciences by 8.1% in the 4th quarter. Daiwa Securities Group Inc. now owns 8,668 shares of the medical research company’s stock worth $1,328,000 after acquiring an additional 652 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Edwards Lifesciences by 10.8% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 18,150 shares of the medical research company’s stock worth $2,780,000 after acquiring an additional 1,768 shares during the last quarter. Finally, Parallel Advisors LLC lifted its holdings in shares of Edwards Lifesciences by 11.2% in the 4th quarter. Parallel Advisors LLC now owns 684 shares of the medical research company’s stock worth $101,000 after acquiring an additional 69 shares during the last quarter. Hedge funds and other institutional investors own 82.12% of the company’s stock.

Edwards Lifesciences Company Profile

Edwards Lifesciences Corporation provides products and technologies for structural heart disease and critical care monitoring in the United States and internationally. It offers transcatheter heart valve therapy products comprising transcatheter aortic valve replacement, and transcatheter mitral and tricuspid therapies for the nonsurgical replacement of heart valves.

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