According to Zacks, “Edwards Lifesciences has reported better-than-expected first-quarter 2019 figures. The company has been seeing strong transcatheter valve sales in the domestic and overseas markets. It has registered strong sales within its Critical Care division, boosted by a surge in HemoSphere sales. Currently, Edwards Lifesciences awaits the full-market launch of the HemoSphere platform with FloTrac System and Acumen Hypotension Predictive Index. The company is also upbeat about the acquisition of CASMED, expected to strengthen its position in smart monitoring technologies within the critical care platform. Further, we are pleased with Edwards Lifesciences’ recent receipt of the CE Mark for PASCAL. Overall, in the past three months, Edwards Lifesciences outperformed its industry. Meanwhile, persistent supply constraints dented Cardioband system sales. This apart, tough competition in the cardiac devices market and reimbursement issues raise concerns.”
A number of other research analysts also recently commented on EW. Bank of America upgraded Edwards Lifesciences from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $180.00 to $190.00 in a research note on Friday, January 18th. Raymond James decreased their price target on Edwards Lifesciences from $210.00 to $200.00 and set an “outperform” rating for the company in a research note on Wednesday, April 24th. Barclays increased their price target on Edwards Lifesciences from $150.00 to $160.00 and gave the stock an “underweight” rating in a research note on Monday, March 25th. Morgan Stanley upped their price objective on Edwards Lifesciences from $180.00 to $197.00 and gave the company an “overweight” rating in a report on Monday, March 18th. Finally, UBS Group upped their price objective on Edwards Lifesciences from $175.00 to $180.00 and gave the company a “neutral” rating in a report on Tuesday, March 12th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and thirteen have assigned a buy rating to the company. Edwards Lifesciences currently has an average rating of “Hold” and a consensus price target of $187.00.
Edwards Lifesciences (NYSE:EW) last posted its quarterly earnings results on Tuesday, April 23rd. The medical research company reported $1.32 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.23 by $0.09. The business had revenue of $993.00 million for the quarter, compared to analyst estimates of $989.87 million. Edwards Lifesciences had a return on equity of 31.16% and a net margin of 20.03%. The business’s revenue was up 11.0% compared to the same quarter last year. During the same period in the prior year, the company posted $1.22 EPS. On average, research analysts forecast that Edwards Lifesciences will post 5.28 EPS for the current fiscal year.
In related news, VP Catherine M. Szyman sold 1,474 shares of the stock in a transaction dated Thursday, February 21st. The stock was sold at an average price of $176.34, for a total value of $259,925.16. Following the completion of the sale, the vice president now directly owns 15,905 shares of the company’s stock, valued at approximately $2,804,687.70. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Larry L. Wood sold 6,716 shares of the stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $170.82, for a total value of $1,147,227.12. Following the completion of the sale, the vice president now directly owns 122,366 shares of the company’s stock, valued at $20,902,560.12. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 148,411 shares of company stock valued at $26,189,586. 1.63% of the stock is currently owned by company insiders.
Institutional investors have recently made changes to their positions in the stock. Executive Wealth Management LLC acquired a new position in Edwards Lifesciences in the 4th quarter worth about $25,000. FTB Advisors Inc. acquired a new position in shares of Edwards Lifesciences during the 1st quarter valued at about $25,000. Sontag Advisory LLC acquired a new position in shares of Edwards Lifesciences during the 4th quarter valued at about $26,000. Lindbrook Capital LLC acquired a new position in shares of Edwards Lifesciences during the 4th quarter valued at about $27,000. Finally, Capital Financial Planning LLC acquired a new position in shares of Edwards Lifesciences during the 4th quarter valued at about $28,000. 84.43% of the stock is owned by hedge funds and other institutional investors.
About Edwards Lifesciences
Edwards Lifesciences Corporation provides products and technologies for structural heart disease and critical care monitoring in the United States and internationally. It offers transcatheter heart valve therapy products comprising transcatheter aortic valve replacement, and transcatheter mitral and tricuspid therapies for the nonsurgical replacement of heart valves.
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