Citigroup Forecasts Strong Price Appreciation for Edwards Lifesciences (NYSE:EW) Stock

Edwards Lifesciences (NYSE:EW) had its target price raised by investment analysts at Citigroup from $110.00 to $117.00 in a research note issued to investors on Thursday, Benzinga reports. The firm presently has a “buy” rating on the medical research company’s stock. Citigroup‘s price target would suggest a potential upside of 14.81% from the company’s current price.

A number of other analysts have also commented on EW. The Goldman Sachs Group boosted their price target on Edwards Lifesciences from $98.00 to $102.00 and gave the company a “buy” rating in a report on Tuesday, July 14th. JPMorgan Chase & Co. increased their price objective on Edwards Lifesciences from $100.00 to $105.00 and gave the stock an “overweight” rating in a report on Friday, October 2nd. BTIG Research lifted their target price on Edwards Lifesciences from $110.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday. Deutsche Bank Aktiengesellschaft set a $104.00 price target on shares of Edwards Lifesciences in a research note on Tuesday, October 27th. Finally, Robert W. Baird raised shares of Edwards Lifesciences from a “neutral” rating to an “outperform” rating and set a $116.00 price objective on the stock in a research report on Thursday. Twenty-three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $108.88.

Edwards Lifesciences Stock Up 1.1%

Shares of NYSE:EW traded up $1.09 during midday trading on Thursday, reaching $101.91. 5,112,546 shares of the company were exchanged, compared to its average volume of 4,098,582. Edwards Lifesciences has a fifty-two week low of $74.66 and a fifty-two week high of $104.17. The company has a quick ratio of 3.77, a current ratio of 4.52 and a debt-to-equity ratio of 0.06. The stock has a fifty day simple moving average of $88.92 and a two-hundred day simple moving average of $85.78. The firm has a market cap of $58.68 billion, a PE ratio of 57.58, a P/E/G ratio of 2.44 and a beta of 0.85.

Edwards Lifesciences (NYSE:EW) last posted its quarterly earnings data 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 business had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.68 billion. Edwards Lifesciences had a net margin of 15.43% and a return on equity of 15.68%. The firm’s revenue was up 10.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.67 EPS. As a group, sell-side analysts forecast that Edwards Lifesciences will post 3.01 earnings per share for the current year.

Insider Activity at Edwards Lifesciences

In other Edwards Lifesciences 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 directly owned 14,868 shares in the company, valued at $1,353,880.08. This trade represents a 3.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Annette Brüls sold 2,644 shares of the business’s stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $89.98, for a total value of $237,907.12. Following the transaction, the vice president directly owned 17,984 shares in the company, valued at $1,618,200.32. This trade represents a 12.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 5,045 shares of company stock valued at $451,596. Insiders own 0.31% of the company’s stock.

Hedge Funds Weigh In On Edwards Lifesciences

Several hedge funds and other institutional investors have recently made changes to their positions in the company. RMG Wealth Management LLC acquired a new position in Edwards Lifesciences during the first quarter worth $26,000. Pin Oak Investment Advisors Inc. bought a new stake in Edwards Lifesciences during the second quarter worth $26,000. GK Wealth Management LLC acquired a new stake in Edwards Lifesciences in the third quarter valued at $26,000. TrinityBridge Ltd acquired a new stake in Edwards Lifesciences in the second quarter valued at $27,000. Finally, Meeder Asset Management Inc. lifted its stake in Edwards Lifesciences by 175.2% in the first quarter. Meeder Asset Management Inc. now owns 366 shares of the medical research company’s stock valued at $29,000 after acquiring an additional 233 shares during the last quarter. 79.46% of the stock is owned by institutional investors.

More Edwards Lifesciences News

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

• Positive Sentiment: Edwards reported Q3 sales growth of 11.2% to $1.72 billion, with adjusted earnings and revenue beating estimates. TMTT sales rose 45.6% and TAVR sales grew 8.8%; the company raised its sales outlook and set adjusted full-year EPS guidance of $2.97–$3.05. Edwards Q3 earnings call highlights
• Positive Sentiment: PROGRESS Trial results found TAVR outperformed active surveillance for at-risk patients with moderate aortic stenosis, including fewer combined death or heart-failure outcomes. The findings could support earlier use of the procedure and expand Edwards’ potential market. Trial data points to earlier TAVR use
• Positive Sentiment: Analysts lifted price targets following the results: UBS raised its target to $118 and JPMorgan to $120, while Piper Sandler reaffirmed its buy-equivalent rating with a $115 target. The latest target increases and reaffirmations add to bullish sentiment. UBS reaffirms buy rating Piper Sandler keeps buy rating
• Negative Sentiment: Management has acknowledged that more competition is coming in TAVR, a potential pressure on market share and future growth, although the recent results and trial data provide positive offsets. CEO comments on TAVR competition

About Edwards Lifesciences

Edwards Lifesciences is a medical technology company focused on therapies for structural heart disease and critical care. Its products include transcatheter and surgical heart valves, as well as technologies used to monitor patients during intensive care and surgery.

The company traces its origins to 1958, when engineer Lowell Edwards and surgeon Albert Starr began developing an artificial heart valve. Their work led to the Starr-Edwards valve, introduced in 1960. Edwards Lifesciences is headquartered in Irvine, California, and serves clinicians and patients around the world.

Its structural heart portfolio includes transcatheter aortic valve replacement (TAVR) systems and therapies addressing mitral and tricuspid valve disease.