Edwards Lifesciences (NYSE:EW) had its price target boosted by investment analysts at Morgan Stanley from $130.00 to $138.00 in a research report issued to clients and investors on Friday. The firm currently has an “overweight” rating on the medical research company’s stock. Morgan Stanley’s price objective would suggest a potential upside of 4.68% from the stock’s previous close.
Other equities research analysts also recently issued reports about the company. Canaccord Genuity reiterated a “buy” rating and set a $135.00 target price (down from $155.00) on shares of Edwards Lifesciences in a report on Wednesday, October 25th. Evercore ISI started coverage on Edwards Lifesciences in a report on Wednesday, January 3rd. They set an “outperform” rating and a $140.00 target price on the stock. SunTrust Banks set a $124.00 target price on Edwards Lifesciences and gave the company a “buy” rating in a report on Wednesday, October 25th. BMO Capital Markets reiterated a “buy” rating and set a $137.00 target price on shares of Edwards Lifesciences in a report on Friday, December 8th. Finally, Deutsche Bank dropped their target price on Edwards Lifesciences from $122.00 to $115.00 and set a “hold” rating on the stock in a report on Thursday, October 26th. Six investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $139.25.
Edwards Lifesciences (NYSE EW) traded up $4.85 during trading on Friday, hitting $131.83. The stock had a trading volume of 3,309,483 shares, compared to its average volume of 1,100,000. The stock has a market cap of $27,900.00, a P/E ratio of 45.77, a price-to-earnings-growth ratio of 2.02 and a beta of 0.63. The company has a current ratio of 3.49, a quick ratio of 2.76 and a debt-to-equity ratio of 0.33. Edwards Lifesciences has a 52 week low of $86.55 and a 52 week high of $138.48.
Edwards Lifesciences announced that its Board of Directors has authorized a share repurchase plan on Thursday, December 7th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the medical research company to reacquire shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s leadership believes its shares are undervalued.
In other Edwards Lifesciences news, Director Schack Wesley W. Von sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 9th. The stock was sold at an average price of $104.15, for a total transaction of $104,150.00. Following the completion of the sale, the director now owns 2,622 shares in the company, valued at approximately $273,081.30. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Larry L. Wood sold 18,960 shares of the firm’s stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $104.76, for a total value of $1,986,249.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 164,920 shares of company stock valued at $18,578,747. 2.13% of the stock is owned by insiders.
Several institutional investors and hedge funds have recently modified their holdings of the company. Advisory Services Network LLC grew its position in shares of Edwards Lifesciences by 0.9% in the 2nd quarter. Advisory Services Network LLC now owns 12,565 shares of the medical research company’s stock worth $1,486,000 after acquiring an additional 112 shares in the last quarter. Kingfisher Capital LLC grew its position in shares of Edwards Lifesciences by 1.9% in the 2nd quarter. Kingfisher Capital LLC now owns 8,454 shares of the medical research company’s stock worth $1,000,000 after acquiring an additional 159 shares in the last quarter. Aspen Investment Management Inc grew its position in shares of Edwards Lifesciences by 10.2% in the 2nd quarter. Aspen Investment Management Inc now owns 4,038 shares of the medical research company’s stock worth $477,000 after acquiring an additional 375 shares in the last quarter. Resources Investment Advisors Inc. grew its position in shares of Edwards Lifesciences by 66.0% in the 4th quarter. Resources Investment Advisors Inc. now owns 1,170 shares of the medical research company’s stock worth $132,000 after acquiring an additional 465 shares in the last quarter. Finally, Pacer Advisors Inc. grew its position in shares of Edwards Lifesciences by 10.4% in the 3rd quarter. Pacer Advisors Inc. now owns 5,312 shares of the medical research company’s stock worth $581,000 after acquiring an additional 499 shares in the last quarter. Institutional investors own 81.78% of the company’s stock.
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.
