Edwards Lifesciences (NYSE:EW)‘s stock had its “buy” rating restated by stock analysts at Stifel Nicolaus in a report released on Friday, February 2nd. They currently have a $155.00 target price on the medical research company’s stock. Stifel Nicolaus’ target price suggests a potential upside of 21.80% from the company’s current price.
EW has been the subject of a number of other reports. Canaccord Genuity reiterated a “buy” rating and set a $135.00 price target (down from $155.00) on shares of Edwards Lifesciences in a research report on Wednesday, October 25th. Evercore ISI started coverage on shares of Edwards Lifesciences in a research note on Wednesday, January 3rd. They issued an “outperform” rating and a $140.00 price target for the company. Morgan Stanley lifted their price target on shares of Edwards Lifesciences from $130.00 to $138.00 and gave the stock an “overweight” rating in a research note on Friday, February 2nd. SunTrust Banks set a $124.00 price target on shares of Edwards Lifesciences and gave the stock a “buy” rating in a research note on Wednesday, October 25th. Finally, BMO Capital Markets restated a “buy” rating and set a $137.00 price objective on shares of Edwards Lifesciences in a research report on Friday, December 8th. Three investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. Edwards Lifesciences has an average rating of “Buy” and a consensus target price of $141.15.
Edwards Lifesciences (NYSE EW) traded up $0.99 on Friday, reaching $127.26. 641,368 shares of the company’s stock traded hands, compared to its average volume of 1,373,473. The stock has a market capitalization of $26,950.00, a P/E ratio of 44.22, a price-to-earnings-growth ratio of 1.86 and a beta of 0.63. The company has a current ratio of 1.81, a quick ratio of 1.41 and a debt-to-equity ratio of 0.15. Edwards Lifesciences has a fifty-two week low of $89.20 and a fifty-two week high of $138.48.
Edwards Lifesciences (NYSE:EW) last issued its earnings results on Thursday, February 1st. The medical research company reported $0.94 EPS for the quarter, beating the Zacks’ consensus estimate of $0.91 by $0.03. Edwards Lifesciences had a net margin of 18.11% and a return on equity of 27.69%. The business had revenue of $888.50 million during the quarter, compared to analysts’ expectations of $868.45 million. During the same period in the prior year, the business earned $0.75 earnings per share. The company’s quarterly revenue was up 15.7% compared to the same quarter last year. sell-side analysts expect that Edwards Lifesciences will post 4.49 earnings per share for the current fiscal year.
Edwards Lifesciences announced that its Board of Directors has approved a stock repurchase program on Thursday, December 7th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the medical research company to purchase shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.
In other news, VP Larry L. Wood sold 18,960 shares of the company’s stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $104.76, for a total transaction of $1,986,249.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael A. Mussallem sold 32,900 shares of the company’s stock in a transaction dated Monday, November 20th. The shares were sold at an average price of $106.86, for a total transaction of $3,515,694.00. The disclosure for this sale can be found here. Insiders sold a total of 175,940 shares of company stock worth $20,049,578 over the last quarter. Insiders own 2.13% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. boosted its stake in Edwards Lifesciences by 2.2% in the fourth quarter. BlackRock Inc. now owns 15,410,737 shares of the medical research company’s stock worth $1,736,943,000 after purchasing an additional 331,896 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Edwards Lifesciences by 45.7% in the 4th quarter. Bank of New York Mellon Corp now owns 7,580,924 shares of the medical research company’s stock valued at $854,444,000 after acquiring an additional 2,377,444 shares during the last quarter. Wells Fargo & Company MN increased its holdings in Edwards Lifesciences by 20.2% in the 3rd quarter. Wells Fargo & Company MN now owns 2,548,282 shares of the medical research company’s stock valued at $278,553,000 after acquiring an additional 429,022 shares during the last quarter. American Century Companies Inc. increased its holdings in Edwards Lifesciences by 7.0% in the 3rd quarter. American Century Companies Inc. now owns 2,224,010 shares of the medical research company’s stock valued at $243,107,000 after acquiring an additional 144,701 shares during the last quarter. Finally, Artisan Partners Limited Partnership increased its holdings in shares of Edwards Lifesciences by 12.0% in the 3rd quarter. Artisan Partners Limited Partnership now owns 1,432,428 shares of the medical research company’s stock worth $156,579,000 after buying an additional 153,896 shares during the last quarter. 81.11% of the stock is owned by institutional investors.
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About Edwards Lifesciences
Edwards Lifesciences Corporation is a manufacturer of heart valve systems and repair products used to replace or repair a patient’s diseased or defective heart valve. The Company is engaged in patient-focused innovations for structural heart disease and critical care monitoring. Its segments include United States, Europe, Japan and Rest of World.
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