Edwards Lifesciences Corporation (EW) PT Set at $124.00 by SunTrust Banks, Inc.

SunTrust Banks, Inc. set a $124.00 target price on Edwards Lifesciences Corporation (NYSE:EW) in a research note published on Wednesday morning. The firm currently has a buy rating on the medical research company’s stock. SunTrust Banks also issued estimates for Edwards Lifesciences Corporation’s Q3 2017 earnings at $0.84 EPS, Q4 2017 earnings at $0.91 EPS, FY2017 earnings at $3.76 EPS, Q1 2018 earnings at $1.09 EPS, Q2 2018 earnings at $1.06 EPS, Q3 2018 earnings at $0.93 EPS, Q4 2018 earnings at $0.97 EPS, FY2018 earnings at $4.06 EPS, FY2019 earnings at $4.51 EPS, FY2020 earnings at $5.03 EPS and FY2021 earnings at $5.52 EPS.

A number of other analysts also recently issued reports on the stock. Jefferies Group LLC reiterated a buy rating and issued a $115.00 price objective on shares of Edwards Lifesciences Corporation in a report on Friday, June 30th. Canaccord Genuity reiterated a buy rating and issued a $150.00 price objective on shares of Edwards Lifesciences Corporation in a report on Wednesday, June 28th. Royal Bank Of Canada reiterated a buy rating and issued a $130.00 price objective on shares of Edwards Lifesciences Corporation in a report on Friday, July 28th. Stifel Nicolaus reiterated a buy rating and issued a $130.00 price objective (up from $118.00) on shares of Edwards Lifesciences Corporation in a report on Thursday, July 27th. Finally, Bank of America Corporation lifted their price objective on shares of Edwards Lifesciences Corporation from $140.00 to $150.00 and gave the company a buy rating in a report on Thursday, July 27th. Seven analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of Buy and an average target price of $125.17.

Edwards Lifesciences Corporation (NYSE EW) traded down 1.40% on Wednesday, reaching $101.92. 1,951,568 shares of the company’s stock traded hands. Edwards Lifesciences Corporation has a 52-week low of $81.12 and a 52-week high of $121.45. The stock’s 50 day moving average is $110.49 and its 200 day moving average is $112.40. The firm has a market cap of $21.52 billion, a price-to-earnings ratio of 30.91 and a beta of 0.62.

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 the Zacks’ consensus estimate 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 company had revenue of $821.50 million during the quarter, compared to the consensus estimate of $833.85 million. During the same period in the previous year, the firm posted $0.68 EPS. The business’s quarterly revenue was up 11.1% compared to the same quarter last year. On average, equities research analysts predict that Edwards Lifesciences Corporation will post $3.75 EPS for the current fiscal year.

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

Several institutional investors have recently made changes to their positions in EW. Teachers Advisors LLC boosted its position in shares of Edwards Lifesciences Corporation by 26.6% in the first quarter. Teachers Advisors LLC now owns 835,393 shares of the medical research company’s stock valued at $78,585,000 after acquiring an additional 175,457 shares during the period. KCG Holdings Inc. boosted its position in shares of Edwards Lifesciences Corporation by 91.1% in the first quarter. KCG Holdings Inc. now owns 6,286 shares of the medical research company’s stock valued at $591,000 after acquiring an additional 2,996 shares during the period. Brown Advisory Securities LLC boosted its position in shares of Edwards Lifesciences Corporation by 8.0% in the first quarter. Brown Advisory Securities LLC now owns 3,703 shares of the medical research company’s stock valued at $350,000 after acquiring an additional 274 shares during the period. Schwab Charles Investment Management Inc. boosted its position in shares of Edwards Lifesciences Corporation by 5.6% in the first quarter. Schwab Charles Investment Management Inc. now owns 639,098 shares of the medical research company’s stock valued at $60,120,000 after acquiring an additional 34,092 shares during the period. Finally, DF Dent & Co. Inc. bought a new stake in shares of Edwards Lifesciences Corporation in the first quarter valued at about $694,000. 82.06% of the stock is owned by institutional investors.

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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