Edwards Lifesciences (EW) Upgraded to “Overweight” by Barclays

Barclays upgraded shares of Edwards Lifesciences (NYSE:EW) from an equal weight rating to an overweight rating in a report published on Thursday, MarketBeat Ratings reports. They currently have $135.00 target price on the medical research company’s stock, up from their previous target price of $125.00.

EW has been the subject of several other reports. Canaccord Genuity reissued a buy rating and set a $135.00 price objective (down from $155.00) on shares of Edwards Lifesciences in a report on Wednesday, October 25th. Evercore ISI initiated coverage on shares of Edwards Lifesciences in a report on Wednesday, January 3rd. They set an outperform rating and a $140.00 price objective for the company. SunTrust Banks set a $124.00 price objective on shares of Edwards Lifesciences and gave the stock a buy rating in a report on Wednesday, October 25th. Morgan Stanley decreased their price target on shares of Edwards Lifesciences from $133.00 to $120.00 and set an overweight rating for the company in a report on Thursday, October 26th. Finally, Zacks Investment Research lowered shares of Edwards Lifesciences from a strong-buy rating to a hold rating in a report on Tuesday, September 26th. Six research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of Buy and a consensus target price of $129.57.

Edwards Lifesciences (EW) traded up $0.45 during trading on Thursday, reaching $115.86. 909,400 shares of the company traded hands, compared to its average volume of 1,364,950. Edwards Lifesciences has a 12-month low of $86.55 and a 12-month high of $121.45. The stock has a market cap of $25,000.00, a P/E ratio of 33.68, a price-to-earnings-growth ratio of 1.86 and a beta of 0.51. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.49 and a quick ratio of 2.76.

Edwards Lifesciences (NYSE:EW) last released its quarterly earnings results on Tuesday, October 24th. The medical research company reported $0.84 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.86 by ($0.02). Edwards Lifesciences had a return on equity of 27.22% and a net margin of 22.47%. The firm had revenue of $821.50 million for the quarter, compared to analysts’ expectations of $833.85 million. During the same period last year, the firm earned $0.68 EPS. The business’s quarterly revenue was up 11.1% on a year-over-year basis. sell-side analysts predict that Edwards Lifesciences will post 3.76 earnings per share for the current year.

Edwards Lifesciences declared that its board has initiated a share repurchase plan on Thursday, December 7th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the medical research company to purchase shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.

In other Edwards Lifesciences news, CEO Michael A. Mussallem sold 32,800 shares of the business’s stock in a transaction dated Tuesday, December 19th. The shares were sold at an average price of $114.82, for a total transaction of $3,766,096.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Donald E. Bobo, Jr. sold 5,300 shares of the business’s stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $116.45, for a total transaction of $617,185.00. The disclosure for this sale can be found here. Insiders have sold a total of 177,680 shares of company stock valued at $19,285,511 over the last three months. 2.13% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in shares of Edwards Lifesciences by 2.0% in 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 purchasing an additional 406,901 shares in the last quarter. BlackRock Inc. raised its holdings in shares of Edwards Lifesciences by 0.8% in the 2nd quarter. BlackRock Inc. now owns 14,109,514 shares of the medical research company’s stock worth $1,668,309,000 after purchasing an additional 105,819 shares in the last quarter. Wells Fargo & Company MN raised its holdings in shares of Edwards Lifesciences by 20.2% in the 3rd quarter. Wells Fargo & Company MN now owns 2,548,282 shares of the medical research company’s stock worth $278,553,000 after purchasing an additional 429,022 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of Edwards Lifesciences by 7.0% in the 3rd quarter. American Century Companies Inc. now owns 2,224,010 shares of the medical research company’s stock worth $243,107,000 after purchasing an additional 144,701 shares in the last quarter. Finally, Artisan Partners Limited Partnership raised its holdings in shares of Edwards Lifesciences by 12.0% in the 3rd quarter. Artisan Partners Limited Partnership now owns 1,432,428 shares of the medical research company’s stock worth $156,579,000 after purchasing an additional 153,896 shares in the last quarter. Institutional investors and hedge funds own 81.36% 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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