Edwards Lifesciences (NYSE:EW) Given New $112.00 Price Target at Leerink Partners

Edwards Lifesciences (NYSE:EW) had its price target hoisted by Leerink Partners from $101.00 to $112.00 in a research report sent to investors on Thursday,Benzinga reports. The firm currently has an outperform rating on the medical research company’s stock.

Several other equities analysts have also recently issued reports on EW. Wall Street Zen cut Edwards Lifesciences from a “buy” rating to a “hold” rating in a research note on Saturday, October 31st. Wells Fargo & Company reiterated an “overweight” rating and issued a $113.00 price target (up from $100.00) on shares of Edwards Lifesciences in a report on Thursday. JPMorgan Chase & Co. boosted their price objective on shares of Edwards Lifesciences from $100.00 to $105.00 and gave the company an “overweight” rating in a research report on Friday, October 2nd. BTIG Research boosted their price objective on shares of Edwards Lifesciences from $110.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Piper Sandler restated an “overweight” rating and issued a $115.00 price objective (up from $101.00) on shares of Edwards Lifesciences in a report on Thursday. Twenty-three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $108.88.

Edwards Lifesciences Stock Up 1.3%

Shares of NYSE:EW opened at $100.70 on Thursday. Edwards Lifesciences has a 1 year low of $74.66 and a 1 year high of $104.17. The company has a market cap of $57.99 billion, a PE ratio of 56.90, a P/E/G ratio of 2.60 and a beta of 0.85. The company has a debt-to-equity ratio of 0.06, a current ratio of 4.52 and a quick ratio of 3.77. The stock’s 50-day moving average is $88.68 and its 200 day moving average is $85.69.

Edwards Lifesciences (NYSE:EW) last released its quarterly earnings results on Wednesday, November 4th. The medical research company reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.06. Edwards Lifesciences had a return on equity of 16.25% and a net margin of 15.30%. The business had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.68 billion. During the same quarter in the prior year, the company posted $0.67 EPS. Edwards Lifesciences’s quarterly revenue was up 10.5% compared to the same quarter last year. Sell-side analysts anticipate that Edwards Lifesciences will post 3.00 EPS for the current year.

Insiders Place Their Bets

In other news, SVP Andrew M. Dahl sold 544 shares of the firm’s stock in a transaction that occurred on Monday, August 31st. The stock was sold at an average price of $91.06, for a total value of $49,536.64. Following the completion of the transaction, the senior vice president owned 14,868 shares in the company, valued at $1,353,880.08. This trade represents a 3.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Annette Brüls sold 2,644 shares of Edwards Lifesciences stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $89.98, for a total value of $237,907.12. Following the sale, the vice president owned 17,984 shares in the company, valued at $1,618,200.32. This represents a 12.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 5,045 shares of company stock worth $451,596. Company insiders own 0.31% of the company’s stock.

Hedge Funds Weigh In On Edwards Lifesciences

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Maryland State Retirement & Pension System raised its holdings in Edwards Lifesciences by 9.3% in the third quarter. Maryland State Retirement & Pension System now owns 34,128 shares of the medical research company’s stock worth $2,946,000 after buying an additional 2,896 shares during the last quarter. Ritholtz Wealth Management lifted its stake in shares of Edwards Lifesciences by 91.6% in the third quarter. Ritholtz Wealth Management now owns 15,148 shares of the medical research company’s stock worth $1,308,000 after buying an additional 7,241 shares in the last quarter. Jacobi Capital Management LLC bought a new position in shares of Edwards Lifesciences in the third quarter worth approximately $32,000. Jefferies Financial Group Inc. grew its holdings in shares of Edwards Lifesciences by 649.1% during the third quarter. Jefferies Financial Group Inc. now owns 296,800 shares of the medical research company’s stock valued at $25,620,000 after buying an additional 257,180 shares during the last quarter. Finally, First Command Advisory Services Inc. grew its holdings in shares of Edwards Lifesciences by 261.5% during the third quarter. First Command Advisory Services Inc. now owns 2,686 shares of the medical research company’s stock valued at $232,000 after buying an additional 1,943 shares during the last quarter. Hedge funds and other institutional investors own 79.46% of the company’s stock.

Edwards Lifesciences News Summary

Here are the key news stories impacting Edwards Lifesciences this week:

• Positive Sentiment: Edwards beat Q3 estimates, reporting adjusted EPS of $0.80 versus $0.74 expected and revenue of $1.72 billion, up about 11% year over year. It raised its full-year sales outlook and set adjusted EPS guidance of $2.97–$3.05. TAVR sales grew 8.8%, while transcatheter mitral and tricuspid therapies (TMTT) grew 45.6%, supporting the growth outlook. Q3 earnings and outlook
• Positive Sentiment: New PROGRESS Trial data found TAVR performed better than active surveillance for at-risk patients with moderate aortic stenosis, including fewer combined death or heart-failure events and better quality-of-life measures. The findings could support broader future use, though they do not by themselves establish a change in treatment or reimbursement. PROGRESS Trial data
• Positive Sentiment: Analysts responded favorably to the results: UBS raised its target to $118 and JPMorgan to $120, while other firms also increased targets and several upgraded the shares. The revisions signal improved expectations, but are analyst opinions rather than guaranteed returns. UBS price-target increase JPMorgan price-target increase
• Negative Sentiment: Edwards’ CEO acknowledged that more competition is coming in TAVR, a potential challenge to market share and growth. CEO comments on TAVR competition

About Edwards Lifesciences

Edwards Lifesciences Corporation (NYSE:EW) is a medical technology company focused on therapies for structural heart disease and critical care. The company develops and manufactures products designed to treat conditions affecting the heart’s valves, including aortic, mitral and tricuspid valve disorders.

Its portfolio includes transcatheter aortic valve replacement systems, transcatheter mitral and tricuspid therapies, surgical heart valves and valve-repair technologies. Edwards also provides related delivery systems and other medical devices used by physicians in minimally invasive and open-heart procedures.

Founded in 1958 by Miles Lowell Edwards, the company is headquartered in Irvine, California, and serves healthcare providers and patients internationally.