Brokerages Set Edwards Lifesciences Corp (EW) Price Target at $154.35

Shares of Edwards Lifesciences Corp (NYSE:EW) have received a consensus recommendation of “Buy” from the twenty-two ratings firms that are covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation and thirteen have given a buy recommendation to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $156.33.

A number of research firms recently commented on EW. Bank of America downgraded Edwards Lifesciences from a “buy” rating to a “neutral” rating in a report on Tuesday, October 2nd. ValuEngine raised Edwards Lifesciences from a “hold” rating to a “buy” rating in a report on Wednesday, September 19th. Morgan Stanley lifted their target price on Edwards Lifesciences from $150.00 to $157.00 and gave the stock an “overweight” rating in a report on Thursday, October 11th. SunTrust Banks reduced their price target on Edwards Lifesciences to $170.00 and set a “buy” rating for the company in a research report on Friday, August 10th. Finally, Guggenheim cut Edwards Lifesciences from a “buy” rating to a “neutral” rating in a research report on Tuesday, October 2nd.

Shares of Edwards Lifesciences stock traded up $1.43 on Monday, reaching $163.44. 1,439,400 shares of the stock were exchanged, compared to its average volume of 1,431,259. The company has a quick ratio of 1.85, a current ratio of 2.31 and a debt-to-equity ratio of 0.18. Edwards Lifesciences has a twelve month low of $110.68 and a twelve month high of $175.00. The company has a market capitalization of $33.87 billion, a price-to-earnings ratio of 43.01, a price-to-earnings-growth ratio of 2.13 and a beta of 0.90.

Edwards Lifesciences (NYSE:EW) last released its earnings results on Tuesday, October 23rd. The medical research company reported $1.07 EPS for the quarter, topping the Zacks’ consensus estimate of $1.02 by $0.05. Edwards Lifesciences had a return on equity of 30.11% and a net margin of 20.67%. The firm had revenue of $906.60 million during the quarter, compared to the consensus estimate of $927.56 million. During the same quarter in the previous year, the company posted $0.84 earnings per share. The company’s revenue was up 10.4% compared to the same quarter last year. Research analysts anticipate that Edwards Lifesciences will post 4.7 EPS for the current fiscal year.

In other news, CFO Scott B. Ullem sold 25,036 shares of the business’s stock in a transaction that occurred on Wednesday, September 5th. The stock was sold at an average price of $140.04, for a total value of $3,506,041.44. Following the completion of the sale, the chief financial officer now directly owns 41,019 shares in the company, valued at $5,744,300.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael A. Mussallem sold 32,900 shares of the business’s stock in a transaction that occurred on Wednesday, September 12th. The shares were sold at an average price of $144.02, for a total value of $4,738,258.00. Following the completion of the sale, the chief executive officer now owns 76,026 shares of the company’s stock, valued at $10,949,264.52. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 212,192 shares of company stock valued at $31,055,823. 1.84% of the stock is owned by company insiders.

Several institutional investors have recently bought and sold shares of the company. FMR LLC increased its position in shares of Edwards Lifesciences by 32.9% in the second quarter. FMR LLC now owns 6,714,684 shares of the medical research company’s stock valued at $977,456,000 after buying an additional 1,663,511 shares in the last quarter. Brown Advisory Inc. increased its position in shares of Edwards Lifesciences by 2.2% in the third quarter. Brown Advisory Inc. now owns 3,950,371 shares of the medical research company’s stock valued at $687,760,000 after buying an additional 84,355 shares in the last quarter. Capital Research Global Investors increased its position in shares of Edwards Lifesciences by 164.8% in the third quarter. Capital Research Global Investors now owns 3,545,266 shares of the medical research company’s stock valued at $617,231,000 after buying an additional 2,206,539 shares in the last quarter. Janus Henderson Group PLC increased its position in shares of Edwards Lifesciences by 117.0% in the third quarter. Janus Henderson Group PLC now owns 2,505,128 shares of the medical research company’s stock valued at $436,144,000 after buying an additional 1,350,879 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its position in shares of Edwards Lifesciences by 5.3% in the second quarter. Massachusetts Financial Services Co. MA now owns 2,147,510 shares of the medical research company’s stock valued at $312,614,000 after buying an additional 107,676 shares in the last quarter. Institutional investors and hedge funds own 82.55% of the company’s stock.

About Edwards Lifesciences

Edwards Lifesciences Corporation provides products and technologies to treat structural heart disease and critically ill patients in the United States and internationally. It offers transcatheter heart valve therapy products comprising transcatheter aortic heart valves and related delivery systems for the nonsurgical replacement of heart valves.

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Analyst Recommendations for Edwards Lifesciences (NYSE:EW)

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