Edwards Lifesciences (NYSE:EW – Free Report) had its price target hoisted by Royal Bank Of Canada from $110.00 to $115.00 in a report published on Thursday,Benzinga reports. They currently have an outperform rating on the medical research company’s stock.
Several other research analysts also recently weighed in on the company. JPMorgan Chase & Co. lifted their target price on Edwards Lifesciences from $100.00 to $105.00 and gave the company an “overweight” rating in a research note on Friday, October 2nd. TD Cowen restated a “buy” rating on shares of Edwards Lifesciences in a research note on Tuesday, October 27th. Wells Fargo & Company reaffirmed an “overweight” rating and set a $113.00 price target (up from $100.00) on shares of Edwards Lifesciences in a report on Thursday. Evercore reaffirmed an “outperform” rating on shares of Edwards Lifesciences in a report on Friday, October 23rd. Finally, Rothschild & Co Redburn boosted their price objective on shares of Edwards Lifesciences from $99.00 to $102.00 and gave the company a “buy” rating in a research note on Monday, July 27th. Twenty-three analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $108.88.
Check Out Our Latest Analysis on EW
Edwards Lifesciences Trading Up 1.3%
Shares of NYSE:EW opened at $100.70 on Thursday. Edwards Lifesciences has a 52 week low of $74.66 and a 52 week high of $104.17. The company’s 50 day moving average is $88.68 and its two-hundred day moving average is $85.69. The company has a market cap of $57.99 billion, a PE ratio of 56.90, a P/E/G ratio of 2.60 and a beta of 0.85. The company has a current ratio of 4.52, a quick ratio of 3.77 and a debt-to-equity ratio of 0.06.
Edwards Lifesciences (NYSE:EW – Get Free Report) last released 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. The business had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.68 billion. Edwards Lifesciences had a net margin of 15.30% and a return on equity of 16.25%. The company’s revenue for the quarter was up 10.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.67 EPS. Equities analysts predict that Edwards Lifesciences will post 3.00 earnings per share for the current fiscal year.
Insider Activity
In other news, SVP Andrew M. Dahl sold 544 shares of the firm’s stock in a transaction that occurred on Monday, August 31st. The stock was sold at an average price of $91.06, for a total value of $49,536.64. Following the completion of the sale, the senior vice president directly owned 14,868 shares of the company’s stock, valued at $1,353,880.08. This trade represents a 3.53% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Annette Brüls sold 2,644 shares of Edwards Lifesciences stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $89.98, for a total value of $237,907.12. Following the completion of the sale, the vice president owned 17,984 shares in the company, valued at approximately $1,618,200.32. This trade represents a 12.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 5,045 shares of company stock valued at $451,596 in the last three months. 0.31% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On Edwards Lifesciences
Several institutional investors have recently made changes to their positions in the stock. BlackRock Inc. purchased a new stake in Edwards Lifesciences during the second quarter worth about $5,318,092,000. Bank of New York Mellon Corp acquired a new position in Edwards Lifesciences during the second quarter worth about $1,274,082,000. Bank of America Corp DE purchased a new position in Edwards Lifesciences in the second quarter valued at about $605,397,000. Deutsche Bank AG purchased a new position in Edwards Lifesciences in the second quarter valued at about $516,552,000. Finally, Legal & General Group Plc purchased a new position in Edwards Lifesciences in the second quarter valued at about $389,089,000. 79.46% of the stock is currently owned by hedge funds and other institutional investors.
Edwards Lifesciences News Summary
Here are the key news stories impacting Edwards Lifesciences this week:
- Positive Sentiment: Edwards beat Q3 estimates, reporting adjusted EPS of $0.80 versus $0.74 expected and revenue of $1.72 billion, up about 11% year over year. It raised its full-year sales outlook and set adjusted EPS guidance of $2.97–$3.05. TAVR sales grew 8.8%, while transcatheter mitral and tricuspid therapies (TMTT) grew 45.6%, supporting the growth outlook. Q3 earnings and outlook
- Positive Sentiment: New PROGRESS Trial data found TAVR performed better than active surveillance for at-risk patients with moderate aortic stenosis, including fewer combined death or heart-failure events and better quality-of-life measures. The findings could support broader future use, though they do not by themselves establish a change in treatment or reimbursement. PROGRESS Trial data
- Positive Sentiment: Analysts responded favorably to the results: UBS raised its target to $118 and JPMorgan to $120, while other firms also increased targets and several upgraded the shares. The revisions signal improved expectations, but are analyst opinions rather than guaranteed returns. UBS price-target increase JPMorgan price-target increase
- Negative Sentiment: Edwards’ CEO acknowledged that more competition is coming in TAVR, a potential challenge to market share and growth. CEO comments on TAVR competition
Edwards Lifesciences Company Profile
Edwards Lifesciences Corporation (NYSE:EW) is a medical technology company focused on therapies for structural heart disease and critical care. The company develops and manufactures products designed to treat conditions affecting the heart’s valves, including aortic, mitral and tricuspid valve disorders.
Its portfolio includes transcatheter aortic valve replacement systems, transcatheter mitral and tricuspid therapies, surgical heart valves and valve-repair technologies. Edwards also provides related delivery systems and other medical devices used by physicians in minimally invasive and open-heart procedures.
Founded in 1958 by Miles Lowell Edwards, the company is headquartered in Irvine, California, and serves healthcare providers and patients internationally.
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