Edwards Lifesciences Corp’s Neutral Rating Reiterated at Zacks (EW)
Edwards Lifesciences Corp (NYSE:EW)‘s stock had its “neutral” rating reissued by Zacks in a report issued on Wednesday. They currently have a $104.00 price objective on the stock. Zacks‘s price objective suggests a potential upside of 5.26% from the company’s current price.
Zacks’ analyst wrote, “Edwards posted an impressive second-quarter 2014 with adjusted EPS of $0.88, which steered ahead of the Zacks Consensus Estimate by a huge $0.11 and was up 4.8% year over year. Sales of $575.1 million were up 11.2% beating the Zacks Consensus Estimate of $546 million. The company continues to remain in the headlines with several positive takeaways in the second quarter including positive results for SAPIEN 3 and the launch of SAPIEN XT in the U.S. But with the U.S. launch of Sapien XT, Edwards is now well positioned to continue strengthening its foothold in the U.S. THV market. Sales growth across the structural heart valve therapy group was also encouraging. Edwards also reported meaningful margin expansion in the quarter. Despite a competitor’s product launch, things are gradually working in favor of Edwards with an expected rebound in the next quarter. We thus reiterate the stock at Neutral.”
EW has been the subject of a number of other recent research reports. Analysts at JMP Securities raised their price target on shares of Edwards Lifesciences Corp from $97.00 to $120.00 in a research note on Thursday, August 21st. They now have an “outperform” rating on the stock. Separately, analysts at Stifel Nicolaus raised their price target on shares of Edwards Lifesciences Corp from $90.00 to $100.00 in a research note on Thursday, July 31st. Finally, analysts at JPMorgan Chase & Co. raised their price target on shares of Edwards Lifesciences Corp from $78.00 to $90.00 in a research note on Thursday, July 31st. Six investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Edwards Lifesciences Corp currently has a consensus rating of “Buy” and an average target price of $92.24.
Edwards Lifesciences Corp (NYSE:EW) traded down 0.86% during mid-day trading on Wednesday, hitting $97.95. 353,502 shares of the company’s stock traded hands. Edwards Lifesciences Corp has a 52 week low of $60.62 and a 52 week high of $99.35. The stock has a 50-day moving average of $91.38 and a 200-day moving average of $81.38. The company has a market cap of $10.386 billion and a P/E ratio of 14.26.
Edwards Lifesciences Corp (NYSE:EW) last announced its earnings results on Tuesday, July 29th. The company reported $0.88 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.77 by $0.11. The company had revenue of $547.00 million for the quarter, compared to the consensus estimate of $545.10 million. During the same quarter last year, the company posted $0.82 earnings per share. Edwards Lifesciences Corp’s revenue was up 11.2% compared to the same quarter last year. Analysts expect that Edwards Lifesciences Corp will post $3.29 EPS for the current fiscal year.
In other Edwards Lifesciences Corp news, VP Larry L. Wood sold 63,752 shares of the stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $97.85, for a total transaction of $6,238,133.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Edwards Lifesciences Corporation (NYSE:EW) is focused on technologies that treat structural heart disease and critically ill patients.
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