Deutsche Bank AG Trims Edwards Lifesciences Corporation (EW) Target Price to $115.00

Edwards Lifesciences Corporation (NYSE:EW) had its price objective trimmed by Deutsche Bank AG from $122.00 to $115.00 in a research report sent to investors on Thursday morning. The brokerage currently has a hold rating on the medical research company’s stock.

EW has been the subject of a number of other research reports. Zacks Investment Research cut Edwards Lifesciences Corporation from a strong-buy rating to a hold rating in a research report on Tuesday, September 26th. BidaskClub cut Edwards Lifesciences Corporation from a buy rating to a hold rating in a research report on Friday, August 25th. Cowen and Company reiterated a buy rating and set a $135.00 price objective on shares of Edwards Lifesciences Corporation in a research report on Thursday, October 12th. BMO Capital Markets reiterated a buy rating and set a $132.00 price objective on shares of Edwards Lifesciences Corporation in a research report on Friday, September 1st. Finally, Jefferies Group LLC reiterated a buy rating and set a $115.00 price objective on shares of Edwards Lifesciences Corporation in a research report on Friday, June 30th. Seven research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of Buy and a consensus price target of $125.17.

Edwards Lifesciences Corporation (EW) traded down 1.40% during midday trading on Thursday, hitting $101.92. 1,951,568 shares of the stock were exchanged. The stock has a market cap of $21.52 billion, a P/E ratio of 29.71 and a beta of 0.62. Edwards Lifesciences Corporation has a one year low of $81.12 and a one year high of $121.45. The firm has a 50-day moving average price of $110.49 and a 200-day moving average price of $112.40.

Edwards Lifesciences Corporation (NYSE:EW) last announced its quarterly earnings results on Tuesday, October 24th. The medical research company reported $0.84 earnings per share for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.02). Edwards Lifesciences Corporation had a net margin of 22.47% and a return on equity of 27.22%. The firm had revenue of $821.50 million during the quarter, compared to analysts’ expectations of $833.85 million. During the same quarter in the prior year, the business earned $0.68 EPS. The company’s quarterly revenue was up 11.1% compared to the same quarter last year. On average, equities research analysts anticipate that Edwards Lifesciences Corporation will post $3.75 EPS for the current fiscal year.

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In related news, CEO Michael A. Mussallem sold 32,900 shares of the company’s stock in a transaction on Monday, July 31st. The stock was sold at an average price of $114.80, for a total transaction of $3,776,920.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Catherine M. Szyman sold 4,681 shares of the company’s stock in a transaction on Monday, July 31st. The stock was sold at an average price of $115.78, for a total value of $541,966.18. The disclosure for this sale can be found here. Insiders sold a total of 195,861 shares of company stock valued at $22,218,268 over the last quarter. Company insiders own 2.13% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in Edwards Lifesciences Corporation by 2.0% during the 2nd quarter. Vanguard Group Inc. now owns 20,748,569 shares of the medical research company’s stock worth $2,453,311,000 after buying an additional 406,901 shares during the last quarter. BlackRock Inc. grew its stake in Edwards Lifesciences Corporation by 0.8% during the 2nd quarter. BlackRock Inc. now owns 14,109,514 shares of the medical research company’s stock worth $1,668,309,000 after buying an additional 105,819 shares during the last quarter. State Street Corp grew its stake in Edwards Lifesciences Corporation by 1.7% during the 1st quarter. State Street Corp now owns 9,388,994 shares of the medical research company’s stock worth $883,219,000 after buying an additional 157,844 shares during the last quarter. Bank of New York Mellon Corp grew its stake in Edwards Lifesciences Corporation by 161.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 5,304,536 shares of the medical research company’s stock worth $627,207,000 after buying an additional 3,277,726 shares during the last quarter. Finally, Wells Fargo & Company MN grew its stake in Edwards Lifesciences Corporation by 13.3% during the 2nd quarter. Wells Fargo & Company MN now owns 2,119,260 shares of the medical research company’s stock worth $250,581,000 after buying an additional 248,293 shares during the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Edwards Lifesciences Corporation Company Profile

Edwards Lifesciences Corporation is a manufacturer of heart valve systems and repair products used to replace or repair a patient’s diseased or defective heart valve. The Company is engaged in patient-focused innovations for structural heart disease and critical care monitoring. Its segments include United States, Europe, Japan and Rest of World.

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