Investors Buy Shares of Edwards Lifesciences Corp. (EW) on Weakness
Investors purchased shares of Edwards Lifesciences Corp. (NYSE:EW) on weakness during trading hours on Friday. $37.53 million flowed into the stock on the tick-up and $22.32 million flowed out of the stock on the tick-down, for a money net flow of $15.21 million into the stock. Of all equities tracked, Edwards Lifesciences Corp. had the 43rd highest net in-flow for the day. Edwards Lifesciences Corp. traded down ($0.02) for the day and closed at $115.85
Several brokerages recently issued reports on EW. Deutsche Bank AG lifted their price objective on shares of Edwards Lifesciences Corp. from $100.00 to $115.00 and gave the company a “hold” rating in a report on Wednesday, July 27th. JMP Securities lifted their price objective on shares of Edwards Lifesciences Corp. from $125.00 to $130.00 and gave the company a “market outperform” rating in a report on Thursday, July 28th. JPMorgan Chase & Co. reissued a “buy” rating on shares of Edwards Lifesciences Corp. in a report on Tuesday, July 12th. Credit Suisse Group AG reissued a “buy” rating on shares of Edwards Lifesciences Corp. in a report on Wednesday, June 8th. Finally, Citigroup Inc. lifted their price objective on shares of Edwards Lifesciences Corp. from $86.00 to $94.00 and gave the company a “sell” rating in a report on Wednesday, July 27th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-one have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $118.13.
The firm’s 50-day moving average price is $112.70 and its 200-day moving average price is $101.71. The stock has a market capitalization of $24.66 billion and a P/E ratio of 47.87.
Edwards Lifesciences Corp. (NYSE:EW) last announced its quarterly earnings data on Tuesday, July 26th. The medical research company reported $0.76 EPS for the quarter, beating the Zacks’ consensus estimate of $0.70 by $0.06. The firm earned $759.30 million during the quarter, compared to analysts’ expectations of $724.26 million. The company’s revenue for the quarter was up 23.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.57 earnings per share. Equities analysts expect that Edwards Lifesciences Corp. will post $2.88 EPS for the current fiscal year.
In other Edwards Lifesciences Corp. news, VP Patrick B. Verguet sold 10,092 shares of the stock in a transaction that occurred on Tuesday, August 23rd. The shares were sold at an average price of $117.53, for a total value of $1,186,112.76. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director John T. Cardis sold 5,000 shares of the stock in a transaction that occurred on Wednesday, August 10th. The shares were sold at an average price of $113.21, for a total transaction of $566,050.00. The disclosure for this sale can be found here.
A hedge fund recently raised its stake in Edwards Lifesciences Corp. stock. State of Tennessee Treasury Department increased its stake in shares of Edwards Lifesciences Corp. (NYSE:EW) by 47.3% during the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 90,877 shares of the medical research company’s stock after buying an additional 29,177 shares during the period. State of Tennessee Treasury Department’s holdings in Edwards Lifesciences Corp. were worth $7,178,000 at the end of the most recent quarter.
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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