Edwards Lifesciences (EW) Earns “Buy” Rating from Canaccord Genuity

Canaccord Genuity reissued their buy rating on shares of Edwards Lifesciences (NYSE:EW) in a research note issued to investors on Wednesday. Canaccord Genuity currently has a $137.00 target price on the medical research company’s stock.

Several other equities analysts have also recently issued reports on EW. Barclays reaffirmed an equal weight rating and issued a $120.00 price objective on shares of Edwards Lifesciences in a research note on Saturday, September 30th. Deutsche Bank lowered their price objective on shares of Edwards Lifesciences from $122.00 to $115.00 and set a hold rating on the stock in a research note on Thursday, October 26th. Zacks Investment Research cut shares of Edwards Lifesciences from a strong-buy rating to a hold rating in a research note on Tuesday, September 26th. BidaskClub cut shares of Edwards Lifesciences from a buy rating to a hold rating in a research note on Friday, August 25th. Finally, Cowen reaffirmed a buy rating and issued a $135.00 price objective on shares of Edwards Lifesciences in a research note on Thursday, October 12th. Seven research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. Edwards Lifesciences has a consensus rating of Buy and an average price target of $125.53.

Edwards Lifesciences (NYSE EW) opened at $116.41 on Wednesday. The company has a market cap of $24,801.85, a PE ratio of 32.47, a price-to-earnings-growth ratio of 2.10 and a beta of 0.50. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.76 and a current ratio of 3.49. Edwards Lifesciences has a 52 week low of $81.25 and a 52 week high of $121.45.

Edwards Lifesciences (NYSE:EW) last released its earnings results on Tuesday, October 24th. The medical research company reported $0.84 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.86 by ($0.02). The company had revenue of $821.50 million for the quarter, compared to analyst estimates of $833.85 million. Edwards Lifesciences had a net margin of 22.47% and a return on equity of 27.22%. The firm’s quarterly revenue was up 11.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.68 EPS. equities research analysts forecast that Edwards Lifesciences will post 3.75 earnings per share for the current year.

In related news, VP Donald E. Bobo, Jr. sold 5,300 shares of the firm’s stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $116.45, for a total transaction of $617,185.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Schack Wesley W. Von sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 9th. The stock was sold at an average price of $104.15, for a total transaction of $104,150.00. Following the sale, the director now owns 2,622 shares of the company’s stock, valued at $273,081.30. The disclosure for this sale can be found here. Over the last three months, insiders sold 172,480 shares of company stock worth $18,548,810. 2.13% of the stock is currently owned by insiders.

Several hedge funds have recently bought and sold shares of the stock. Bank of New York Mellon Corp lifted its stake in Edwards Lifesciences by 161.7% in the second quarter. Bank of New York Mellon Corp now owns 5,304,536 shares of the medical research company’s stock valued at $627,207,000 after acquiring an additional 3,277,726 shares during the last quarter. Egerton Capital UK LLP acquired a new stake in Edwards Lifesciences in the second quarter valued at approximately $217,805,000. Koch Industries Inc. lifted its stake in Edwards Lifesciences by 28,363.1% in the second quarter. Koch Industries Inc. now owns 1,397,254 shares of the medical research company’s stock valued at $1,386,000 after acquiring an additional 1,392,345 shares during the last quarter. Artisan Partners Limited Partnership lifted its stake in Edwards Lifesciences by 90.6% in the second quarter. Artisan Partners Limited Partnership now owns 1,278,532 shares of the medical research company’s stock valued at $151,174,000 after acquiring an additional 607,784 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its stake in Edwards Lifesciences by 1,135.0% in the third quarter. Janus Henderson Group PLC now owns 619,703 shares of the medical research company’s stock valued at $67,739,000 after acquiring an additional 569,525 shares during the last quarter. Institutional investors and hedge funds own 81.55% of the company’s stock.

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About Edwards Lifesciences

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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