Edwards Lifesciences (NYSE:EW) received a $135.00 price target from equities researchers at Cowen in a report issued on Sunday. The firm currently has a “buy” rating on the medical research company’s stock. Cowen’s price target suggests a potential upside of 14.38% from the stock’s previous close.
A number of other brokerages have also recently commented on EW. Canaccord Genuity reiterated a “buy” rating and issued a $155.00 price target on shares of Edwards Lifesciences in a research note on Sunday, October 8th. Barclays dropped their price target on Edwards Lifesciences from $120.00 to $118.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 25th. BidaskClub cut Edwards Lifesciences from a “buy” rating to a “hold” rating in a research note on Friday, August 25th. Royal Bank Of Canada reiterated a “buy” rating and issued a $130.00 price target on shares of Edwards Lifesciences in a research note on Friday, September 1st. Finally, Deutsche Bank dropped their price target on Edwards Lifesciences from $122.00 to $115.00 and set a “hold” rating for the company in a research note on Thursday, October 26th. Six investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $126.43.
Edwards Lifesciences (NYSE:EW) traded up $0.58 during midday trading on Friday, reaching $118.03. The company’s stock had a trading volume of 1,405,500 shares, compared to its average volume of 1,642,867. The company has a quick ratio of 2.76, a current ratio of 3.49 and a debt-to-equity ratio of 0.33. Edwards Lifesciences has a 12-month low of $86.55 and a 12-month high of $121.45. The company has a market capitalization of $24,977.50, a PE ratio of 32.69, a PEG ratio of 2.11 and a beta of 0.51.
Edwards Lifesciences announced that its board has authorized a share buyback plan on Thursday, December 7th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the medical research company to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its stock is undervalued.
In other Edwards Lifesciences news, CEO Michael A. Mussallem sold 32,900 shares of the stock in a transaction dated Monday, October 30th. The stock was sold at an average price of $100.93, for a total transaction of $3,320,597.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Donald E. Bobo, Jr. sold 5,300 shares of the stock in a transaction dated Friday, September 29th. The stock was sold at an average price of $108.86, for a total value of $576,958.00. The disclosure for this sale can be found here. Insiders sold 139,580 shares of company stock valued at $14,849,205 over the last 90 days. 2.13% of the stock is currently owned by company insiders.
Institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its stake in shares of Edwards Lifesciences by 2.0% in the 2nd quarter. Vanguard Group Inc. now owns 20,748,569 shares of the medical research company’s stock valued at $2,453,311,000 after buying an additional 406,901 shares during the period. BlackRock Inc. grew its stake in shares of Edwards Lifesciences by 0.8% in the 2nd quarter. BlackRock Inc. now owns 14,109,514 shares of the medical research company’s stock valued at $1,668,309,000 after buying an additional 105,819 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Edwards Lifesciences by 161.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 5,304,536 shares of the medical research company’s stock valued at $627,207,000 after buying an additional 3,277,726 shares during the period. Wells Fargo & Company MN grew its stake in shares of Edwards Lifesciences by 20.2% in the 3rd quarter. Wells Fargo & Company MN now owns 2,548,282 shares of the medical research company’s stock valued at $278,553,000 after buying an additional 429,022 shares during the period. Finally, American Century Companies Inc. grew its stake in shares of Edwards Lifesciences by 7.0% in the 3rd quarter. American Century Companies Inc. now owns 2,224,010 shares of the medical research company’s stock valued at $243,107,000 after buying an additional 144,701 shares during the period. Hedge funds and other institutional investors own 81.82% of the company’s stock.
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About Edwards Lifesciences
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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