Edwards Lifesciences (NYSE:EW) Price Target Raised to $106.00

Edwards Lifesciences (NYSE:EW) had its price objective increased by equities research analysts at Sanford C. Bernstein from $99.00 to $106.00 in a report issued on Thursday, Benzinga reports. The brokerage presently has a “market perform” rating on the medical research company’s stock. Sanford C. Bernstein‘s price objective suggests a potential upside of 7.30% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the company. Jefferies Financial Group upped their price objective on Edwards Lifesciences from $102.00 to $105.00 and gave the stock a “buy” rating in a research note on Friday, July 24th. Wells Fargo & Company restated an “overweight” rating and set a $113.00 target price (up from $100.00) on shares of Edwards Lifesciences in a report on Thursday. Royal Bank Of Canada upped their price target on shares of Edwards Lifesciences from $100.00 to $110.00 and gave the stock an “outperform” rating in a research report on Monday, July 13th. Rothschild & Co Redburn increased their price target on shares of Edwards Lifesciences from $99.00 to $102.00 and gave the company a “buy” rating in a research note on Monday, July 27th. Finally, JPMorgan Chase & Co. lifted 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. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $104.92.

Edwards Lifesciences Stock Down 0.6%

Shares of NYSE EW traded down $0.58 during mid-day trading on Thursday, hitting $98.79. The company had a trading volume of 4,140,956 shares, compared to its average volume of 4,506,118. The company has a current ratio of 4.52, a quick ratio of 3.77 and a debt-to-equity ratio of 0.06. The firm has a 50-day simple moving average of $88.48 and a two-hundred day simple moving average of $85.61. The company has a market capitalization of $56.88 billion, a PE ratio of 56.96, a price-to-earnings-growth ratio of 2.49 and a beta of 0.85. Edwards Lifesciences has a one year low of $74.66 and a one year high of $104.17.

Edwards Lifesciences (NYSE:EW) last issued its quarterly earnings results on Wednesday, November 4th. The medical research company reported $0.80 EPS for the quarter, beating the consensus estimate of $0.74 by $0.06. The firm had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.68 billion. Edwards Lifesciences had a return on equity of 15.68% and a net margin of 15.43%. The business’s quarterly revenue was up 10.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.67 earnings per share. On average, equities analysts expect that Edwards Lifesciences will post 3.00 EPS for the current year.

Insider Buying and Selling at Edwards Lifesciences

In other Edwards Lifesciences news, VP Annette Brüls sold 2,644 shares of Edwards Lifesciences stock in a transaction on Friday, August 28th. The shares were sold at an average price of $89.98, for a total transaction of $237,907.12. Following the completion of the transaction, the vice president directly owned 17,984 shares of the company’s stock, valued at $1,618,200.32. The trade was a 12.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Daniel Lippis sold 619 shares of the company’s stock in a transaction on Thursday, October 8th. The shares were sold at an average price of $85.65, for a total transaction of $53,017.35. Following the completion of the transaction, the vice president owned 40,034 shares in the company, valued at approximately $3,428,912.10. This represents a 1.52% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 5,045 shares of company stock valued at $451,596 in the last quarter. 0.31% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. bought a new position in shares of Edwards Lifesciences during the second quarter worth approximately $5,318,092,000. Bank of New York Mellon Corp acquired a new stake in Edwards Lifesciences during the 2nd quarter worth approximately $1,274,082,000. Bank of America Corp DE bought a new stake in Edwards Lifesciences in the 2nd quarter valued at $605,397,000. Deutsche Bank AG bought a new stake in Edwards Lifesciences in the 2nd quarter valued at $516,552,000. Finally, Legal & General Group Plc acquired a new position in Edwards Lifesciences in the 2nd quarter valued at $389,089,000. Institutional investors and hedge funds own 79.46% of the company’s stock.

Trending Headlines about Edwards Lifesciences

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

• Positive Sentiment: Edwards reported third-quarter adjusted earnings of $0.80 per share, above the $0.74 consensus, and revenue of $1.72 billion versus estimates of $1.68 billion. Revenue increased 10.5% year over year, with structural heart therapy sales supporting growth and margin expansion. The company raised its full-year outlook; reports also highlighted 44% growth in transcatheter mitral and tricuspid therapies. Edwards Q3 Earnings & Revenues Surpass Estimates, Stock Climbs
• Positive Sentiment: Analysts turned more bullish after the results: Baird upgraded EW to outperform, Truist to strong buy, and BTIG maintains a buy rating. Raymond James and JPMorgan also raised their price targets, adding to optimism about the outlook. Baird analyst rating JPMorgan price target
• Positive Sentiment: One-year CLASP II TR trial results showed Edwards’ PASCAL tricuspid repair system outperformed medical therapy, a potential product and clinical catalyst. PASCAL trial results
• Negative Sentiment: Management expects more competition in TAVR, which could pressure market share or growth. Separately, RBC said the Progress trial data may not significantly expand the TAVR market, tempering expectations for broader market growth. CEO discusses TAVR competition

Edwards Lifesciences Company Profile

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.