Edwards Lifesciences Corporation’s (EW) “Equal Weight” Rating Reiterated at Barclays PLC
Edwards Lifesciences Corporation (NYSE:EW)‘s stock had its “equal weight” rating restated by analysts at Barclays PLC in a note issued to investors on Saturday. They currently have a $120.00 price objective on the medical research company’s stock. Barclays PLC’s price objective would indicate a potential upside of 9.78% from the company’s current price.
A number of other analysts also recently commented on the company. William Blair reaffirmed an “outperform” rating on shares of Edwards Lifesciences Corporation in a research report on Monday, August 28th. BMO Capital Markets reaffirmed a “buy” rating and set a $132.00 price target on shares of Edwards Lifesciences Corporation in a research report on Friday, September 1st. Canaccord Genuity reissued a “buy” rating and set a $150.00 price objective on shares of Edwards Lifesciences Corporation in a report on Wednesday, June 28th. Zacks Investment Research raised Edwards Lifesciences Corporation from a “hold” rating to a “buy” rating and set a $130.00 price objective for the company in a report on Tuesday, July 18th. Finally, Royal Bank Of Canada reissued a “buy” rating and set a $130.00 price objective on shares of Edwards Lifesciences Corporation in a report on Friday, September 1st. Seven research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $120.75.
Edwards Lifesciences Corporation (NYSE EW) opened at 109.31 on Friday. Edwards Lifesciences Corporation has a 52 week low of $81.12 and a 52 week high of $121.75. The stock’s 50 day moving average price is $113.80 and its 200 day moving average price is $109.37. The company has a market capitalization of $23.08 billion, a P/E ratio of 33.15 and a beta of 0.64.
Edwards Lifesciences Corporation (NYSE:EW) last issued its quarterly earnings results on Wednesday, July 26th. The medical research company reported $1.08 EPS for the quarter, beating the Zacks’ consensus estimate of $0.88 by $0.20. The company had revenue of $842.00 million during the quarter, compared to the consensus estimate of $839.16 million. Edwards Lifesciences Corporation had a return on equity of 27.17% and a net margin of 22.16%. Edwards Lifesciences Corporation’s revenue was up 10.9% on a year-over-year basis. During the same period last year, the business posted $0.76 earnings per share. Analysts anticipate that Edwards Lifesciences Corporation will post $3.78 earnings per share for the current year.
In other Edwards Lifesciences Corporation news, CEO Michael A. Mussallem sold 32,900 shares of the firm’s stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $114.80, for a total transaction of $3,776,920.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Donald E. Bobo, Jr. sold 5,300 shares of the firm’s stock in a transaction dated Friday, July 28th. The shares were sold at an average price of $114.68, for a total value of $607,804.00. The disclosure for this sale can be found here. Insiders have sold 176,901 shares of company stock valued at $20,191,196 in the last three months. 2.13% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EW. BlackRock Inc. raised its position in Edwards Lifesciences Corporation by 2,184.9% during the first quarter. BlackRock Inc. now owns 14,003,695 shares of the medical research company’s stock valued at $1,317,326,000 after purchasing an additional 13,390,818 shares in the last quarter. Bank of New York Mellon Corp raised its position in Edwards Lifesciences Corporation by 161.7% during 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 purchasing an additional 3,277,726 shares in the last quarter. Egerton Capital UK LLP purchased a new stake in Edwards Lifesciences Corporation during the second quarter valued at about $217,805,000. Alliancebernstein L.P. raised its position in Edwards Lifesciences Corporation by 29.8% during the first quarter. Alliancebernstein L.P. now owns 6,366,425 shares of the medical research company’s stock valued at $598,890,000 after purchasing an additional 1,459,921 shares in the last quarter. Finally, Koch Industries Inc. raised its position in Edwards Lifesciences Corporation by 28,363.1% during 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 purchasing an additional 1,392,345 shares in the last quarter. Institutional investors and hedge funds own 82.08% of the company’s stock.
About Edwards Lifesciences Corporation
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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