Evercore ISI Reaffirms Hold Rating for Edwards Lifesciences Corp. (EW)
Evercore ISI reiterated their hold rating on shares of Edwards Lifesciences Corp. (NYSE:EW) in a research note released on Monday morning. They currently have a $105.00 price target on the medical research company’s stock.
A number of other research analysts have also commented on EW. Zacks Investment Research lowered Edwards Lifesciences Corp. from a buy rating to a hold rating in a report on Friday, August 5th. Canaccord Genuity reiterated a buy rating and set a $140.00 price target on shares of Edwards Lifesciences Corp. in a report on Thursday, August 18th. Credit Suisse Group AG set a $116.00 price target on Edwards Lifesciences Corp. and gave the stock a buy rating in a report on Thursday, August 18th. Morgan Stanley reiterated a buy rating and set a $140.00 price target on shares of Edwards Lifesciences Corp. in a report on Friday, August 19th. Finally, Leerink Swann reiterated a buy rating on shares of Edwards Lifesciences Corp. in a report on Friday, August 19th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-two have given a buy rating to the stock. Edwards Lifesciences Corp. has an average rating of Buy and a consensus target price of $117.28.
Edwards Lifesciences Corp. (NYSE:EW) opened at 82.85 on Monday. Edwards Lifesciences Corp. has a one year low of $72.20 and a one year high of $121.75. The firm has a market cap of $17.71 billion, a P/E ratio of 32.75 and a beta of 0.71. The stock’s 50 day moving average is $98.42 and its 200 day moving average is $106.41.
Edwards Lifesciences Corp. (NYSE:EW) last announced its earnings results on Tuesday, October 25th. The medical research company reported $0.68 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.68. The firm earned $739.40 million during the quarter, compared to analysts’ expectations of $749.14 million. Edwards Lifesciences Corp. had a return on equity of 24.32% and a net margin of 19.24%. The company’s revenue was up 20.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.54 earnings per share. On average, equities research analysts expect that Edwards Lifesciences Corp. will post $2.88 earnings per share for the current year.
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In related news, VP Huimin Wang sold 13,650 shares of Edwards Lifesciences Corp. stock in a transaction that occurred on Monday, November 7th. The stock was sold at an average price of $91.29, for a total value of $1,246,108.50. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Michael A. Mussallem sold 49,100 shares of Edwards Lifesciences Corp. stock in a transaction that occurred on Thursday, October 27th. The shares were sold at an average price of $92.77, for a total value of $4,555,007.00. The disclosure for this sale can be found here. Insiders own 2.37% of the company’s stock.
A number of large investors have recently made changes to their positions in EW. Nelson Van Denburg & Campbell Wealth Management Group LLC purchased a new stake in shares of Edwards Lifesciences Corp. during the second quarter worth about $100,000. Spirit of America Management Corp NY purchased a new stake in shares of Edwards Lifesciences Corp. during the third quarter worth about $121,000. TCI Wealth Advisors Inc. raised its stake in shares of Edwards Lifesciences Corp. by 30.5% in the third quarter. TCI Wealth Advisors Inc. now owns 1,044 shares of the medical research company’s stock worth $126,000 after buying an additional 244 shares in the last quarter. Cornerstone Advisors Inc. raised its stake in shares of Edwards Lifesciences Corp. by 28.9% in the third quarter. Cornerstone Advisors Inc. now owns 1,075 shares of the medical research company’s stock worth $130,000 after buying an additional 241 shares in the last quarter. Finally, Quadrant Capital Group LLC raised its stake in shares of Edwards Lifesciences Corp. by 2.3% in the second quarter. Quadrant Capital Group LLC now owns 1,108 shares of the medical research company’s stock worth $106,000 after buying an additional 25 shares in the last quarter. 83.08% of the stock is currently owned by institutional investors and hedge funds.
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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