Edwards Lifesciences Corp Reaches New 12-Month High at $87.03 (EW)
Edwards Lifesciences Corp (NYSE:EW)’s share price reached a new 52-week high during mid-day trading on Tuesday , AnalystRatings.Net reports. The stock traded as high as $87.03 and last traded at $85.31, with a volume of 1,200,952 shares traded. The stock had previously closed at $86.48.
A number of analysts have recently weighed in on EW shares. Analysts at Leerink Swann raised their price target on shares of Edwards Lifesciences Corp from $90.00 to $93.00 in a research note on Friday, May 9th. Separately, analysts at Jefferies Group raised their price target on shares of Edwards Lifesciences Corp to $94.00 in a research note on Friday, April 25th. Finally, analysts at Canaccord Genuity raised their price target on shares of Edwards Lifesciences Corp from $84.00 to $86.00 in a research note on Friday, April 25th. They now have a “buy” rating on the stock. Six investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $80.88.
The stock’s 50-day moving average is $80.34 and its 200-day moving average is $70.52. The company has a market cap of $8.985 billion and a P/E ratio of 31.41. Edwards Lifesciences Corp also was the recipient of a large drop in short interest in the month of April. As of April 30th, there was short interest totalling 4,910,229 shares, a drop of 40.9% from the April 15th total of 8,306,637 shares. Currently, 4.6% of the shares of the company are sold short. Based on an average trading volume of 1,326,037 shares, the days-to-cover ratio is currently 3.7 days.
Edwards Lifesciences Corp (NYSE:EW) last posted its quarterly earnings results on Thursday, April 24th. The company reported $0.76 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.69 by $0.07. The company had revenue of $522.40 million for the quarter, compared to the consensus estimate of $523.10 million. During the same quarter in the prior year, the company posted $0.72 earnings per share. The company’s quarterly revenue was up 5.2% on a year-over-year basis. On average, analysts predict that Edwards Lifesciences Corp will post $3.10 earnings per share for the current fiscal year.
Edwards Lifesciences Corporation (NYSE:EW) is focused on technologies that treat structural heart disease and critically ill patients.
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