Edwards Lifesciences Corp. PT Lowered to $76.00 (EW)
Equities researchers at Canaccord Genuity dropped their target price on shares of Edwards Lifesciences Corp. (NYSE:EW) from $94.00 to $76.00 in a research report issued on Wednesday, American Banking & Market News reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity’s target price would indicate a potential upside of 18.25% from the stock’s previous close.
Shares of Edwards Lifesciences Corp. (NYSE:EW) traded down 1.41% during mid-day trading on Wednesday, hitting $64.27. 1,578,021 shares of the company’s stock traded hands. Edwards Lifesciences Corp. has a 1-year low of $62.34 and a 1-year high of $94.98. The stock has a 50-day moving average of $72.3 and a 200-day moving average of $70.11. The company has a market cap of $7.216 billion and a price-to-earnings ratio of 19.06.
Edwards Lifesciences Corp. (NYSE:EW) last issued its quarterly earnings data on Monday, October 28th. The company reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.02. The company had revenue of $496.00 million for the quarter, compared to the consensus estimate of $490.96 million. During the same quarter in the previous year, the company posted $0.58 earnings per share. The company’s revenue for the quarter was up 10.6% on a year-over-year basis. On average, analysts predict that Edwards Lifesciences Corp. will post $3.06 earnings per share for the current fiscal year.
A number of other firms have also recently commented on EW. Analysts at Zacks reiterated a “neutral” rating on shares of Edwards Lifesciences Corp. in a research note to investors on Wednesday. They now have a $73.00 price target on the stock. Separately, analysts at JPMorgan Chase & Co. downgraded shares of Edwards Lifesciences Corp. from a “neutral” rating to an “underweight” rating in a research note to investors on Wednesday. They now have a $62.00 price target on the stock, down previously from $64.00. Finally, analysts at BMO Capital Markets raised their price target on shares of Edwards Lifesciences Corp. from $69.00 to $73.00 in a research note to investors on Tuesday. They now have a “market perform” rating on the stock. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and thirteen have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $76.13.
Edwards Lifesciences Corporation (NYSE:EW) is focused on technologies that treat structural heart disease and critically ill patients.
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