Piper Sandler Reaffirms “Overweight” Rating for Edwards Lifesciences (NYSE:EW)

Edwards Lifesciences (NYSE:EW)‘s stock had its “overweight” rating reiterated by Piper Sandler in a research note issued on Thursday, Benzinga reports. They presently have a $115.00 price target on the medical research company’s stock, up from their previous price target of $101.00. Piper Sandler‘s price target would indicate a potential upside of 14.60% from the stock’s previous close.

Several other equities research analysts have also recently weighed in on EW. Royal Bank Of Canada upped their target price on Edwards Lifesciences from $100.00 to $110.00 and gave the stock an “outperform” rating in a research note on Monday, July 13th. Robert W. Baird upgraded Edwards Lifesciences from a “neutral” rating to an “outperform” rating and set a $116.00 target price on the stock in a report on Thursday. Sanford C. Bernstein increased their price target on Edwards Lifesciences from $96.00 to $99.00 and gave the company a “market perform” rating in a research report on Friday, July 24th. Rothschild & Co Redburn lifted their price target on shares of Edwards Lifesciences from $99.00 to $102.00 and gave the stock a “buy” rating in a report on Monday, July 27th. Finally, Wall Street Zen cut Edwards Lifesciences from a “buy” rating to a “hold” rating in a research report on Saturday, October 31st. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, Edwards Lifesciences has a consensus rating of “Moderate Buy” and a consensus price target of $104.64.

Edwards Lifesciences Price Performance

Shares of Edwards Lifesciences stock traded up $0.98 during midday trading on Thursday, reaching $100.35. The company had a trading volume of 3,836,516 shares, compared to its average volume of 4,504,843. The company has a current ratio of 4.52, a quick ratio of 3.77 and a debt-to-equity ratio of 0.06. Edwards Lifesciences has a 1-year low of $74.66 and a 1-year high of $104.17. The company has a market capitalization of $57.78 billion, a price-to-earnings ratio of 57.69, a price-to-earnings-growth ratio of 2.49 and a beta of 0.85. The stock has a fifty day simple moving average of $88.48 and a 200 day simple moving average of $85.61.

Edwards Lifesciences (NYSE:EW) last posted its earnings results on Wednesday, November 4th. The medical research company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.06. The firm had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.68 billion. Edwards Lifesciences had a return on equity of 15.68% and a net margin of 15.43%. The company’s revenue for the quarter was up 10.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.67 earnings per share. As a group, equities research analysts forecast that Edwards Lifesciences will post 3.00 earnings per share for the current year.

Insider Transactions at Edwards Lifesciences

In other Edwards Lifesciences news, VP Annette Brüls sold 2,644 shares of the stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $89.98, for a total transaction 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Andrew M. Dahl sold 544 shares of the business’s stock in a transaction on Monday, August 31st. The stock was sold at an average price of $91.06, for a total transaction of $49,536.64. Following the completion of the sale, the senior vice president directly owned 14,868 shares of the company’s stock, valued at $1,353,880.08. This represents a 3.53% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 5,045 shares of company stock valued at $451,596 in the last quarter. Insiders own 0.31% of the company’s stock.

Institutional Trading of Edwards Lifesciences

Several large investors have recently modified their holdings of the business. RMG Wealth Management LLC purchased a new position in shares of Edwards Lifesciences during the first quarter valued at approximately $26,000. Pin Oak Investment Advisors Inc. bought a new stake in Edwards Lifesciences in the second quarter valued at $26,000. GK Wealth Management LLC bought a new position in Edwards Lifesciences in the 3rd quarter worth $26,000. TrinityBridge Ltd bought a new position in Edwards Lifesciences in the 2nd quarter worth $27,000. Finally, Meeder Asset Management Inc. lifted its position in shares of Edwards Lifesciences by 175.2% in the 1st quarter. Meeder Asset Management Inc. now owns 366 shares of the medical research company’s stock worth $29,000 after purchasing an additional 233 shares during the period. 79.46% of the stock is owned by institutional investors.

Edwards Lifesciences News Roundup

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

• Positive Sentiment: Edwards reported third-quarter adjusted earnings of $0.80 per share, above the $0.74 consensus, and revenue of $1.72 billion versus estimates of $1.68 billion. Revenue increased 10.5% year over year, with structural heart therapy sales supporting growth and margin expansion. The company raised its full-year outlook; reports also highlighted 44% growth in transcatheter mitral and tricuspid therapies. Edwards Q3 Earnings & Revenues Surpass Estimates, Stock Climbs
• Positive Sentiment: Analysts turned more bullish after the results: Baird upgraded EW to outperform, Truist to strong buy, and BTIG maintains a buy rating. Raymond James and JPMorgan also raised their price targets, adding to optimism about the outlook. Baird analyst rating JPMorgan price target
• Positive Sentiment: One-year CLASP II TR trial results showed Edwards’ PASCAL tricuspid repair system outperformed medical therapy, a potential product and clinical catalyst. PASCAL trial results
• Negative Sentiment: Management expects more competition in TAVR, which could pressure market share or growth. Separately, RBC said the Progress trial data may not significantly expand the TAVR market, tempering expectations for broader market growth. CEO discusses TAVR competition

About Edwards Lifesciences

Edwards Lifesciences Corporation (NYSE:EW) is a medical technology company focused on therapies for structural heart disease and critical care. The company develops and manufactures products designed to treat conditions affecting the heart’s valves, including aortic, mitral and tricuspid valve disorders.

Its portfolio includes transcatheter aortic valve replacement systems, transcatheter mitral and tricuspid therapies, surgical heart valves and valve-repair technologies. Edwards also provides related delivery systems and other medical devices used by physicians in minimally invasive and open-heart procedures.

Founded in 1958 by Miles Lowell Edwards, the company is headquartered in Irvine, California, and serves healthcare providers and patients internationally.