UBS Group Boosts Edwards Lifesciences (NYSE:EW) Price Target to $230.00

Edwards Lifesciences (NYSE:EW) had its price target raised by UBS Group from $205.00 to $230.00 in a research report report published on Wednesday, BenzingaRatingsTable reports. The firm currently has a neutral rating on the medical research company’s stock.

Several other equities research analysts have also recently weighed in on EW. Wells Fargo & Co increased their target price on Edwards Lifesciences from $220.00 to $250.00 and gave the company an outperform rating in a report on Friday, September 6th. JPMorgan Chase & Co. increased their target price on Edwards Lifesciences from $190.00 to $225.00 and gave the company a neutral rating in a report on Wednesday, July 24th. Zacks Investment Research upgraded Edwards Lifesciences from a hold rating to a buy rating and set a $232.00 target price for the company in a report on Thursday, July 25th. Bank of America restated a buy rating and set a $225.00 target price (up from $215.00) on shares of Edwards Lifesciences in a report on Wednesday, July 24th. Finally, BTIG Research restated a hold rating on shares of Edwards Lifesciences in a report on Thursday, July 25th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and thirteen have given a buy rating to the company’s stock. The company has an average rating of Buy and an average price target of $219.06.

Shares of EW stock opened at $227.46 on Wednesday. The stock has a market capitalization of $47.38 billion, a PE ratio of 46.11, a P/E/G ratio of 2.87 and a beta of 0.84. Edwards Lifesciences has a 1-year low of $136.44 and a 1-year high of $230.19. The business has a 50-day moving average of $221.73 and a 200 day moving average of $198.64. The company has a debt-to-equity ratio of 0.18, a current ratio of 3.38 and a quick ratio of 2.48.

Edwards Lifesciences (NYSE:EW) last issued its earnings results on Tuesday, July 23rd. The medical research company reported $1.38 earnings per share for the quarter, beating the consensus estimate of $1.33 by $0.05. The company had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.04 billion. Edwards Lifesciences had a return on equity of 31.25% and a net margin of 18.29%. Edwards Lifesciences’s quarterly revenue was up 15.2% compared to the same quarter last year. During the same period in the prior year, the business posted $1.24 EPS. Analysts anticipate that Edwards Lifesciences will post 5.33 EPS for the current year.

In other news, CFO Scott B. Ullem sold 7,500 shares of the stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $225.74, for a total value of $1,693,050.00. Following the completion of the transaction, the chief financial officer now owns 21,064 shares of the company’s stock, valued at approximately $4,754,987.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Huimin Wang sold 4,650 shares of the stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $223.18, for a total value of $1,037,787.00. Following the completion of the transaction, the vice president now directly owns 36,898 shares of the company’s stock, valued at approximately $8,234,895.64. The disclosure for this sale can be found here. Insiders have sold a total of 154,670 shares of company stock valued at $33,420,945 in the last ninety days. 1.63% of the stock is currently owned by corporate insiders.

Several large investors have recently made changes to their positions in the company. Jennison Associates LLC increased its position in Edwards Lifesciences by 4.8% during the 2nd quarter. Jennison Associates LLC now owns 6,039,006 shares of the medical research company’s stock valued at $1,115,646,000 after buying an additional 275,182 shares in the last quarter. Nuveen Asset Management LLC increased its position in Edwards Lifesciences by 8,278.5% during the 2nd quarter. Nuveen Asset Management LLC now owns 3,951,568 shares of the medical research company’s stock valued at $730,013,000 after buying an additional 3,904,405 shares in the last quarter. Northern Trust Corp increased its position in Edwards Lifesciences by 2.1% during the 2nd quarter. Northern Trust Corp now owns 2,422,599 shares of the medical research company’s stock valued at $447,551,000 after buying an additional 48,931 shares in the last quarter. Royal Bank of Canada increased its position in Edwards Lifesciences by 7.2% during the 2nd quarter. Royal Bank of Canada now owns 1,650,840 shares of the medical research company’s stock valued at $304,976,000 after buying an additional 110,497 shares in the last quarter. Finally, Amundi Pioneer Asset Management Inc. increased its position in Edwards Lifesciences by 9.7% during the 2nd quarter. Amundi Pioneer Asset Management Inc. now owns 1,314,685 shares of the medical research company’s stock valued at $242,876,000 after buying an additional 115,881 shares in the last quarter. 81.80% of the stock is owned by hedge funds and other institutional investors.

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.

Recommended Story: Municipal Bonds

Analyst Recommendations for Edwards Lifesciences (NYSE:EW)

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.