Truist Financial upgraded shares of Edwards Lifesciences (NYSE:EW – Free Report) from a hold rating to a buy rating in a report published on Wednesday morning, MarketBeat Ratings reports. They currently have $113.00 price target on the medical research company’s stock, up from their prior price target of $95.00.
A number of other analysts also recently weighed in on EW. UBS Group reissued a “buy” rating and issued a $110.00 price target (up from $90.00) on shares of Edwards Lifesciences in a report on Thursday, October 8th. Sanford C. Bernstein boosted their price objective on shares of Edwards Lifesciences from $96.00 to $99.00 and gave the stock a “market perform” rating in a report on Friday, July 24th. Leerink Partners raised shares of Edwards Lifesciences from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $87.00 to $101.00 in a research report on Friday, July 24th. Argus increased their target price on shares of Edwards Lifesciences from $105.00 to $115.00 and gave the company a “buy” rating in a research note on Friday, August 21st. Finally, Wall Street Zen downgraded Edwards Lifesciences from a “buy” rating to a “hold” rating in a research report on Saturday, October 31st. Twenty-three research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $108.88.
Edwards Lifesciences Stock Performance
Shares of EW stock traded up $1.09 during trading hours on Wednesday, reaching $101.91. 5,112,546 shares of the company’s stock were exchanged, compared to its average volume of 4,098,582. Edwards Lifesciences has a fifty-two week low of $74.66 and a fifty-two week high of $104.17. The company has a quick ratio of 3.77, a current ratio of 4.52 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $58.68 billion, a P/E ratio of 57.58, a P/E/G ratio of 2.44 and a beta of 0.85. The business has a fifty day moving average price of $88.92 and a 200-day moving average price of $85.78.
Edwards Lifesciences (NYSE:EW – Get Free Report) last announced its quarterly earnings data on Wednesday, November 4th. The medical research company reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.06. Edwards Lifesciences had a net margin of 15.43% and a return on equity of 15.68%. The business had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.68 billion. During the same quarter last year, the company posted $0.67 earnings per share. Edwards Lifesciences’s quarterly revenue was up 10.5% on a year-over-year basis. Analysts predict that Edwards Lifesciences will post 3.01 EPS for the current fiscal year.
Insider Buying and Selling
In related news, VP Annette Brüls sold 2,644 shares of the firm’s stock in a transaction on Friday, August 28th. The stock was sold at an average price of $89.98, for a total value of $237,907.12. Following the completion of the transaction, the vice president directly owned 17,984 shares of the company’s stock, valued at $1,618,200.32. This trade represents a 12.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Andrew M. Dahl sold 544 shares of Edwards Lifesciences stock in a transaction on Monday, August 31st. The stock was sold at an average price of $91.06, for a total transaction of $49,536.64. Following the sale, the senior vice president owned 14,868 shares in the company, valued at $1,353,880.08. This represents a 3.53% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 5,045 shares of company stock valued at $451,596 over the last ninety days. 0.31% of the stock is owned by company insiders.
Institutional Trading of Edwards Lifesciences
A number of institutional investors and hedge funds have recently added to or reduced their stakes in EW. Legacy Trust raised its position in Edwards Lifesciences by 1.4% in the third quarter. Legacy Trust now owns 7,409 shares of the medical research company’s stock worth $682,000 after purchasing an additional 104 shares in the last quarter. Flagship Harbor Advisors LLC lifted its stake in Edwards Lifesciences by 1.2% during the third quarter. Flagship Harbor Advisors LLC now owns 10,615 shares of the medical research company’s stock worth $916,000 after purchasing an additional 125 shares during the period. Fifth Third Wealth Advisors LLC boosted its holdings in Edwards Lifesciences by 1.8% during the third quarter. Fifth Third Wealth Advisors LLC now owns 7,268 shares of the medical research company’s stock valued at $627,000 after purchasing an additional 132 shares in the last quarter. Calamos Wealth Management LLC boosted its holdings in Edwards Lifesciences by 6.1% during the third quarter. Calamos Wealth Management LLC now owns 2,438 shares of the medical research company’s stock valued at $210,000 after purchasing an additional 141 shares in the last quarter. Finally, Signaturefd LLC grew its stake in shares of Edwards Lifesciences by 1.4% in the 3rd quarter. Signaturefd LLC now owns 10,034 shares of the medical research company’s stock valued at $866,000 after purchasing an additional 142 shares during the period. Institutional investors own 79.46% of the company’s stock.
Edwards Lifesciences News Summary
Here are the key news stories impacting Edwards Lifesciences this week:
- Positive Sentiment: Edwards reported Q3 sales growth of 11.2% to $1.72 billion, with adjusted earnings and revenue beating estimates. TMTT sales rose 45.6% and TAVR sales grew 8.8%; the company raised its sales outlook and set adjusted full-year EPS guidance of $2.97–$3.05. Edwards Q3 earnings call highlights
- Positive Sentiment: PROGRESS Trial results found TAVR outperformed active surveillance for at-risk patients with moderate aortic stenosis, including fewer combined death or heart-failure outcomes. The findings could support earlier use of the procedure and expand Edwards’ potential market. Trial data points to earlier TAVR use
- Positive Sentiment: Analysts lifted price targets following the results: UBS raised its target to $118 and JPMorgan to $120, while Piper Sandler reaffirmed its buy-equivalent rating with a $115 target. The latest target increases and reaffirmations add to bullish sentiment. UBS reaffirms buy rating Piper Sandler keeps buy rating
- Negative Sentiment: Management has acknowledged that more competition is coming in TAVR, a potential pressure on market share and future growth, although the recent results and trial data provide positive offsets. CEO comments on TAVR competition
About Edwards Lifesciences
Edwards Lifesciences is a medical technology company focused on therapies for structural heart disease and critical care. Its products include transcatheter and surgical heart valves, as well as technologies used to monitor patients during intensive care and surgery.
The company traces its origins to 1958, when engineer Lowell Edwards and surgeon Albert Starr began developing an artificial heart valve. Their work led to the Starr-Edwards valve, introduced in 1960. Edwards Lifesciences is headquartered in Irvine, California, and serves clinicians and patients around the world.
Its structural heart portfolio includes transcatheter aortic valve replacement (TAVR) systems and therapies addressing mitral and tricuspid valve disease.
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