Robert W. Baird Upgrades Edwards Lifesciences (NYSE:EW) to Outperform

Edwards Lifesciences (NYSE:EW – Get Free Report) was upgraded by investment analysts at Robert W. Baird from a “neutral” rating to an “outperform” rating in a research note issued on Thursday, Marketbeat Ratings reports. The brokerage presently has a $116.00 price target on the medical research company’s stock. Robert W. Baird‘s price objective suggests a potential upside of 13.83% from the company’s current price.

Several other research analysts have also recently issued reports on the stock. Barclays raised shares of Edwards Lifesciences to a “strong-buy” rating in a report on Wednesday, October 7th. JPMorgan Chase & Co. increased their price target on Edwards Lifesciences from $100.00 to $105.00 and gave the stock an “overweight” rating in a research report on Friday, October 2nd. Raymond James Financial lifted their price objective on Edwards Lifesciences from $100.00 to $103.00 and gave the company an “outperform” rating in a research note on Friday, July 24th. Royal Bank Of Canada boosted their price objective on Edwards Lifesciences from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Monday, July 13th. Finally, Wall Street Zen downgraded Edwards Lifesciences from a “buy” rating to a “hold” rating in a research note on Saturday, October 31st. Twenty-three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $108.88.

Get Our Latest Analysis on EW

Edwards Lifesciences Stock Performance

Shares of NYSE EW traded up $1.09 during mid-day trading on Thursday, hitting $101.91. The stock had a trading volume of 5,112,546 shares, compared to its average volume of 4,098,582. The firm has a market cap of $58.68 billion, a PE ratio of 57.58, a PEG ratio of 2.44 and a beta of 0.85. The company has a debt-to-equity ratio of 0.06, a quick ratio of 3.77 and a current ratio of 4.52. The company has a 50 day moving average of $88.92 and a two-hundred day moving average of $85.78. Edwards Lifesciences has a twelve month low of $74.66 and a twelve month high of $104.17.

Edwards Lifesciences (NYSE:EW – Get Free Report) last issued its quarterly earnings results on Wednesday, November 4th. The medical research company reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.06. The company had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.68 billion. Edwards Lifesciences had a return on equity of 15.68% and a net margin of 15.43%. The firm’s revenue was up 10.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.67 EPS. Research analysts predict that Edwards Lifesciences will post 3.01 EPS for the current fiscal year.

Insider Transactions at Edwards Lifesciences

In other news, VP Annette Brüls sold 2,644 shares of the firm’s stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $89.98, for a total transaction of $237,907.12. Following the sale, the vice president directly owned 17,984 shares in the company, valued at $1,618,200.32. This trade represents a 12.82% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Andrew M. Dahl sold 544 shares of Edwards Lifesciences stock in a transaction dated Monday, August 31st. The shares were sold at an average price of $91.06, for a total value of $49,536.64. Following the completion of the transaction, the senior vice president owned 14,868 shares of the company’s stock, valued at approximately $1,353,880.08. This represents a 3.53% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 5,045 shares of company stock valued at $451,596 in the last ninety days. 0.31% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. RMG Wealth Management LLC purchased a new position in Edwards Lifesciences during the first quarter valued at $26,000. Pin Oak Investment Advisors Inc. purchased a new stake in shares of Edwards Lifesciences during the second quarter worth about $26,000. GK Wealth Management LLC purchased a new stake in shares of Edwards Lifesciences during the third quarter worth about $26,000. TrinityBridge Ltd acquired a new position in shares of Edwards Lifesciences during the 2nd quarter worth about $27,000. Finally, Meeder Asset Management Inc. raised its position in shares of Edwards Lifesciences by 175.2% during the 1st quarter. Meeder Asset Management Inc. now owns 366 shares of the medical research company’s stock worth $29,000 after purchasing an additional 233 shares during the last quarter. 79.46% of the stock is owned by institutional investors and hedge funds.

Trending Headlines about Edwards Lifesciences

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

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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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Analyst Recommendations for Edwards Lifesciences (NYSE:EW)

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