Edwards Lifesciences Corp. (EW) Stock Rating Reaffirmed by Northland Securities
Edwards Lifesciences Corp. (NYSE:EW)‘s stock had its “outperform” rating reiterated by analysts at Northland Securities in a research note issued on Tuesday. They presently have a $105.00 target price on the medical research company’s stock. Northland Securities’ target price indicates a potential upside of 26.74% from the company’s previous close.
A number of other brokerages have also recently weighed in on EW. Zacks Investment Research cut Edwards Lifesciences Corp. from a “buy” rating to a “hold” rating in a report on Friday, October 28th. Jefferies Group reiterated a “buy” rating and issued a $115.00 target price (down previously from $125.00) on shares of Edwards Lifesciences Corp. in a report on Wednesday, October 26th. RBC Capital Markets reiterated an “outperform” rating and issued a $123.00 target price (down previously from $130.00) on shares of Edwards Lifesciences Corp. in a report on Wednesday, October 26th. Canaccord Genuity set a $140.00 target price on Edwards Lifesciences Corp. and gave the company a “buy” rating in a report on Monday. Finally, Stifel Nicolaus reduced their target price on Edwards Lifesciences Corp. from $122.00 to $114.00 and set a “buy” rating on the stock in a report on Wednesday, October 26th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-two have given a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $117.28.
Edwards Lifesciences Corp. (NYSE:EW) opened at 82.85 on Tuesday. The stock’s 50 day moving average price is $98.42 and its 200 day moving average price is $106.41. The firm has a market capitalization of $17.71 billion, a PE ratio of 32.75 and a beta of 0.71. Edwards Lifesciences Corp. has a 52-week low of $72.20 and a 52-week high of $121.75.
Edwards Lifesciences Corp. (NYSE:EW) last posted its quarterly earnings data on Tuesday, October 25th. The medical research company reported $0.68 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.68. Edwards Lifesciences Corp. had a return on equity of 24.32% and a net margin of 19.24%. The business had revenue of $739.40 million for the quarter, compared to analysts’ expectations of $749.14 million. During the same quarter last year, the firm earned $0.54 earnings per share. The business’s revenue was up 20.1% on a year-over-year basis. Analysts expect that Edwards Lifesciences Corp. will post $2.88 earnings per share for the current year.
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In other news, CEO Michael A. Mussallem sold 49,100 shares of the business’s stock in a transaction that occurred on Thursday, October 27th. The stock was sold at an average price of $92.77, for a total transaction of $4,555,007.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Donald E. Bobo, Jr. sold 18,000 shares of the business’s stock in a transaction that occurred on Friday, September 2nd. The stock was sold at an average price of $115.78, for a total value of $2,084,040.00. The disclosure for this sale can be found here. Insiders own 2.37% of the company’s stock.
Institutional investors have recently modified their holdings of the company. Ameriprise Financial Inc. boosted its stake in shares of Edwards Lifesciences Corp. by 62.3% in the second quarter. Ameriprise Financial Inc. now owns 4,253,976 shares of the medical research company’s stock valued at $424,200,000 after buying an additional 1,632,567 shares during the last quarter. American Century Companies Inc. boosted its stake in shares of Edwards Lifesciences Corp. by 83.1% in the second quarter. American Century Companies Inc. now owns 1,423,750 shares of the medical research company’s stock valued at $141,991,000 after buying an additional 646,142 shares during the last quarter. Emerald Acquisition Ltd. purchased a new stake in shares of Edwards Lifesciences Corp. during the second quarter valued at approximately $58,912,000. 1832 Asset Management L.P. purchased a new stake in shares of Edwards Lifesciences Corp. during the third quarter valued at approximately $67,325,000. Finally, Capital Fund Management S.A. boosted its stake in shares of Edwards Lifesciences Corp. by 10,543.8% in the second quarter. Capital Fund Management S.A. now owns 473,012 shares of the medical research company’s stock valued at $47,173,000 after buying an additional 468,568 shares during the last quarter. Institutional investors and hedge funds own 83.08% of the company’s stock.
Edwards Lifesciences Corp. Company Profile
Edwards Lifesciences Corporation is focused on technologies that treat structural heart disease and critically ill patients. The Company manufactures heart valve systems and repair products used to replace or repair a patient’s diseased or defective heart valve. It develops hemodynamic monitoring systems used to measure a patient’s cardiovascular function in the hospital setting.
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