Edwards Lifesciences Corp (EW) Given Average Rating of “Buy” by Analysts
Edwards Lifesciences Corp (NYSE:EW) has earned a consensus rating of “Buy” from the twenty-five brokerages that are presently covering the company. One investment analyst has rated the stock with a sell rating, five have given a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $119.88.
EW has been the topic of several research analyst reports. BTIG Research cut Edwards Lifesciences Corp from a “buy” rating to a “neutral” rating in a research report on Thursday, February 2nd. They noted that the move was a valuation call. Leerink Swann cut Edwards Lifesciences Corp from an “outperform” rating to a “market perform” rating in a research report on Thursday, February 2nd. Northland Securities reaffirmed a “positive” rating and set a $105.00 price target on shares of Edwards Lifesciences Corp in a research report on Thursday, February 2nd. Canaccord Genuity set a $140.00 price target on Edwards Lifesciences Corp and gave the company a “buy” rating in a research report on Thursday, February 2nd. Finally, Deutsche Bank AG reaffirmed a “hold” rating and set a $100.00 price target on shares of Edwards Lifesciences Corp in a research report on Sunday, February 5th.
In other news, VP Donald E. Bobo, Jr. sold 13,720 shares of the stock in a transaction dated Monday, March 6th. The stock was sold at an average price of $90.01, for a total transaction of $1,234,937.20. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Bernard J. Zovighian sold 18,050 shares of the stock in a transaction dated Thursday, April 27th. The shares were sold at an average price of $109.21, for a total value of $1,971,240.50. The disclosure for this sale can be found here. Insiders sold a total of 255,041 shares of company stock worth $27,225,450 over the last 90 days. Corporate insiders own 2.37% of the company’s stock.
Several institutional investors have recently made changes to their positions in the stock. BlackRock Inc. raised its position in shares of Edwards Lifesciences Corp by 2,184.9% in the first quarter. BlackRock Inc. now owns 14,003,695 shares of the medical research company’s stock valued at $1,317,326,000 after buying an additional 13,390,818 shares during the period. Norges Bank purchased a new position in shares of Edwards Lifesciences Corp during the fourth quarter valued at approximately $217,484,000. Alliancebernstein L.P. raised its position in shares of Edwards Lifesciences Corp by 29.8% in the first quarter. Alliancebernstein L.P. now owns 6,366,425 shares of the medical research company’s stock valued at $598,890,000 after buying an additional 1,459,921 shares during the period. MARSHALL WACE ASIA Ltd purchased a new position in shares of Edwards Lifesciences Corp during the first quarter valued at approximately $126,959,000. Finally, Marshall Wace North America L.P. purchased a new position in shares of Edwards Lifesciences Corp during the first quarter valued at approximately $126,959,000. Hedge funds and other institutional investors own 83.99% of the company’s stock.
Edwards Lifesciences Corp (NYSE:EW) traded down 0.48% during midday trading on Tuesday, reaching $113.54. The company had a trading volume of 999,106 shares. The stock’s 50 day moving average is $103.82 and its 200 day moving average is $95.03. Edwards Lifesciences Corp has a 12-month low of $81.12 and a 12-month high of $121.75. The firm has a market capitalization of $23.82 billion, a price-to-earnings ratio of 37.75 and a beta of 0.53.
Edwards Lifesciences Corp (NYSE:EW) last posted its quarterly earnings data on Tuesday, April 25th. The medical research company reported $0.94 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.82 by $0.12. Edwards Lifesciences Corp had a return on equity of 25.00% and a net margin of 19.22%. The business had revenue of $883.50 million for the quarter, compared to analysts’ expectations of $776.51 million. During the same quarter in the previous year, the firm earned $0.71 earnings per share. The business’s revenue was up 26.7% on a year-over-year basis. Equities research analysts expect that Edwards Lifesciences Corp will post $3.53 earnings per share for the current year.
About Edwards Lifesciences Corp
Edwards Lifesciences Corporation is a manufacturer of heart valve systems and repair products used to replace or repair a patient’s diseased or defective heart valve. The Company is engaged in patient-focused innovations for structural heart disease and critical care monitoring. Its segments include United States, Europe, Japan and Rest of World.
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