Edwards Lifesciences Corporation (NYSE:EW) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a report released on Tuesday.

According to Zacks, “Over the last six months, Edwards Lifesciences has outperformed the broader industry. Edwards Lifesciences’ second-quarter 2017 performance was quite promising . Moreover, the raised guidance for 2017 hints at brighter prospects. In fact, the guidance raise was backed by a strong performance by all of the company’s three product lines.   We believe that the recent FDA approvals for several products including SAPIEN 3 THV for valve-in-valve procedures and INSPIRIS RESILIA aortic valve have been boosting investors’ confidence on the stock. However, higher operating expenses raise concerns. The stock’s valuation is also stretched on huge investments in the launch and promotion of products. Stiff competition, currency headwind and reimbursement issues are other challenges.”

Other equities research analysts have also recently issued research reports about the stock. Bank of America Corporation raised their target price on shares of Edwards Lifesciences Corporation from $140.00 to $150.00 and gave the stock a “buy” rating in a report on Thursday, July 27th. BidaskClub downgraded shares of Edwards Lifesciences Corporation from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 19th. SunTrust Banks, Inc. increased their price target on shares of Edwards Lifesciences Corporation to $14.00 and gave the stock a “buy” rating in a research report on Monday, July 17th. Canaccord Genuity reiterated a “buy” rating and issued a $155.00 price target (up from $150.00) on shares of Edwards Lifesciences Corporation in a research report on Sunday, July 30th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $130.00 price target (up from $118.00) on shares of Edwards Lifesciences Corporation in a research report on Thursday, July 27th. 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’s stock. The company has a consensus rating of “Buy” and an average price target of $120.75.

Shares of Edwards Lifesciences Corporation (NYSE:EW) opened at 109.37 on Tuesday. Edwards Lifesciences Corporation has a one year low of $81.12 and a one year high of $121.75. The company has a market cap of $23.09 billion, a PE ratio of 33.17 and a beta of 0.64. The firm’s 50-day moving average is $113.80 and its 200-day moving average is $109.37.

Edwards Lifesciences Corporation (NYSE:EW) last issued its earnings results on Wednesday, July 26th. The medical research company reported $1.08 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.88 by $0.20. Edwards Lifesciences Corporation had a net margin of 22.16% and a return on equity of 27.17%. The company had revenue of $842.00 million for the quarter, compared to analysts’ expectations of $839.16 million. During the same quarter last year, the company posted $0.76 earnings per share. The firm’s quarterly revenue was up 10.9% on a year-over-year basis. On average, equities analysts anticipate that Edwards Lifesciences Corporation will post $3.78 EPS for the current year.

ILLEGAL ACTIVITY WARNING: “Zacks Investment Research Downgrades Edwards Lifesciences Corporation (EW) to Hold” was published by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are reading this piece on another website, it was illegally stolen and reposted in violation of United States & international copyright and trademark law. The correct version of this piece can be viewed at https://www.thecerbatgem.com/2017/09/28/zacks-investment-research-downgrades-edwards-lifesciences-corporation-ew-to-hold.html.

In other Edwards Lifesciences Corporation news, VP Larry L. Wood sold 18,960 shares of Edwards Lifesciences Corporation stock in a transaction on Friday, September 15th. The shares were sold at an average price of $112.58, for a total value of $2,134,516.80. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Catherine M. Szyman sold 4,681 shares of Edwards Lifesciences Corporation stock in a transaction on Monday, July 31st. The shares were sold at an average price of $115.78, for a total transaction of $541,966.18. The disclosure for this sale can be found here. Over the last quarter, insiders sold 176,901 shares of company stock worth $20,191,196. 2.13% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Sabal Trust CO increased its holdings in Edwards Lifesciences Corporation by 0.5% in the 2nd quarter. Sabal Trust CO now owns 2,934 shares of the medical research company’s stock valued at $347,000 after acquiring an additional 14 shares during the last quarter. Alps Advisors Inc. increased its holdings in Edwards Lifesciences Corporation by 0.3% in the 2nd quarter. Alps Advisors Inc. now owns 5,102 shares of the medical research company’s stock valued at $603,000 after acquiring an additional 14 shares during the last quarter. Alexandria Capital LLC increased its holdings in Edwards Lifesciences Corporation by 1.7% in the 2nd quarter. Alexandria Capital LLC now owns 1,146 shares of the medical research company’s stock valued at $136,000 after acquiring an additional 19 shares during the last quarter. M Holdings Securities Inc. increased its holdings in Edwards Lifesciences Corporation by 1.5% in the 1st quarter. M Holdings Securities Inc. now owns 4,132 shares of the medical research company’s stock valued at $389,000 after acquiring an additional 62 shares during the last quarter. Finally, Veritable L.P. increased its holdings in Edwards Lifesciences Corporation by 1.2% in the 2nd quarter. Veritable L.P. now owns 6,244 shares of the medical research company’s stock valued at $738,000 after acquiring an additional 71 shares during the last quarter. Institutional investors own 82.08% of the company’s stock.

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.

Analyst Recommendations for Edwards Lifesciences Corporation (NYSE:EW)

Receive News & Stock Ratings for Edwards Lifesciences Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Edwards Lifesciences Corporation and related stocks with our FREE daily email newsletter.