Edwards Lifesciences Corp. (NYSE:EW) Given Average Recommendation of “Buy” by Analysts
Edwards Lifesciences Corp. (NYSE:EW) has earned a consensus rating of “Buy” from the twenty-seven analysts that are covering the firm. One research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and twenty have given a buy recommendation to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $118.95.
Several analysts recently weighed in on EW shares. Credit Suisse Group AG reissued a “buy” rating on shares of Edwards Lifesciences Corp. in a research note on Wednesday, June 8th. Canaccord Genuity reaffirmed a “buy” rating and set a $132.00 price target on shares of Edwards Lifesciences Corp. in a research report on Wednesday, June 1st. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Edwards Lifesciences Corp. in a research report on Tuesday, July 12th. Bank of America Corp. raised shares of Edwards Lifesciences Corp. from a “neutral” rating to a “buy” rating and set a $130.00 price target on the stock in a research report on Wednesday, July 27th. Finally, BTIG Research upped their price target on shares of Edwards Lifesciences Corp. from $122.00 to $130.00 and gave the company a “buy” rating in a research report on Wednesday, July 27th.
Shares of Edwards Lifesciences Corp. (NYSE:EW) traded up 0.53% during trading on Tuesday, hitting $117.36. The stock had a trading volume of 470,628 shares. Edwards Lifesciences Corp. has a 1-year low of $66.57 and a 1-year high of $118.92. The firm has a 50-day moving average of $115.02 and a 200 day moving average of $104.13. The company has a market capitalization of $24.98 billion, a P/E ratio of 48.50 and a beta of 0.60.
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Edwards Lifesciences Corp. (NYSE:EW) last issued its quarterly earnings data on Tuesday, July 26th. The medical research company reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.06. Edwards Lifesciences Corp. had a net margin of 19.26% and a return on equity of 23.72%. The company had revenue of $759.30 million for the quarter, compared to analysts’ expectations of $724.26 million. During the same quarter in the previous year, the firm posted $0.57 earnings per share. Edwards Lifesciences Corp.’s revenue for the quarter was up 23.1% on a year-over-year basis. Equities research analysts predict that Edwards Lifesciences Corp. will post $2.88 earnings per share for the current fiscal year.
In other Edwards Lifesciences Corp. news, VP Huimin Wang sold 13,650 shares of the stock in a transaction that occurred on Tuesday, July 5th. The shares were sold at an average price of $98.44, for a total value of $1,343,706.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Larry L. Wood sold 13,257 shares of the stock in a transaction that occurred on Friday, July 1st. The stock was sold at an average price of $98.79, for a total transaction of $1,309,659.03. The disclosure for this sale can be found here. 2.37% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Edwards Lifesciences Corp. by 0.7% in the second quarter. Vanguard Group Inc. now owns 18,796,184 shares of the medical research company’s stock valued at $1,874,543,000 after buying an additional 134,432 shares in the last quarter. FMR LLC boosted its stake in Edwards Lifesciences Corp. by 1.2% in the second quarter. FMR LLC now owns 12,366,588 shares of the medical research company’s stock valued at $1,233,319,000 after buying an additional 141,713 shares during the period. BlackRock Institutional Trust Company N.A. boosted its stake in Edwards Lifesciences Corp. by 0.3% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 5,451,618 shares of the medical research company’s stock valued at $480,887,000 after buying an additional 14,400 shares during the period. Ameriprise Financial Inc. boosted its stake in Edwards Lifesciences Corp. by 62.3% in the second quarter. Ameriprise Financial Inc. now owns 4,253,976 shares of the medical research company’s stock valued at $424,200,000 after buying an additional 1,632,567 shares during the period. Finally, BlackRock Fund Advisors boosted its stake in Edwards Lifesciences Corp. by 4.6% in the second quarter. BlackRock Fund Advisors now owns 4,194,236 shares of the medical research company’s stock valued at $418,291,000 after buying an additional 184,872 shares during the period. Institutional investors and hedge funds own 85.21% of the company’s stock.
About Edwards Lifesciences Corp.
Edwards Lifesciences Corporation is focused on technologies that treat structural heart disease and critically ill patients. The Company manufactures heart valve systems and repair products used to replace or repair a patient’s diseased or defective heart valve. It develops hemodynamic monitoring systems used to measure a patient’s cardiovascular function in the hospital setting.
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