Edwards Lifesciences (NYSE:EW) had its price objective boosted by investment analysts at JMP Securities from $135.00 to $140.00 in a research report issued to clients and investors on Friday. The brokerage currently has a “market outperform” rating on the medical research company’s stock. JMP Securities’ price objective points to a potential upside of 6.20% from the company’s previous close.
Several other research firms have also weighed in on EW. Morgan Stanley increased their target price on Edwards Lifesciences from $130.00 to $138.00 and gave the company an “overweight” rating in a research note on Friday. Barclays raised their price target on Edwards Lifesciences from $135.00 to $155.00 and gave the stock an “overweight” rating in a research report on Friday. Stifel Nicolaus reaffirmed a “buy” rating and set a $155.00 price target on shares of Edwards Lifesciences in a research report on Friday. Cowen reaffirmed a “buy” rating and set a $150.00 price target on shares of Edwards Lifesciences in a research report on Thursday. Finally, Canaccord Genuity reaffirmed a “buy” rating and set a $174.00 price target (up previously from $140.00) on shares of Edwards Lifesciences in a research report on Friday. Six equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $139.25.
Edwards Lifesciences (NYSE EW) traded up $4.85 during trading hours on Friday, reaching $131.83. The company’s stock had a trading volume of 3,307,596 shares, compared to its average volume of 1,255,095. Edwards Lifesciences has a 1 year low of $88.67 and a 1 year high of $138.48. The company has a quick ratio of 2.76, a current ratio of 3.49 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $26,870.00, a price-to-earnings ratio of 45.77, a price-to-earnings-growth ratio of 2.02 and a beta of 0.63.
Edwards Lifesciences declared that its board has initiated a share buyback program on Thursday, December 7th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the medical research company to repurchase shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board believes its shares are undervalued.
In related news, Director Schack Wesley W. Von sold 1,000 shares of the stock in a transaction dated 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 transaction, the director now directly owns 2,622 shares in the company, valued at $273,081.30. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Larry L. Wood sold 18,960 shares of the stock in a transaction dated Wednesday, November 15th. The stock was 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. Over the last quarter, insiders have sold 164,920 shares of company stock valued at $18,578,747. 2.13% of the stock is owned by corporate insiders.
Several large investors have recently bought and sold shares of the stock. ETF Managers Group LLC bought a new position in Edwards Lifesciences in the second quarter valued at approximately $112,000. Cerebellum GP LLC bought a new position in Edwards Lifesciences in the fourth quarter valued at approximately $128,000. Resources Investment Advisors Inc. grew its stake in Edwards Lifesciences by 66.0% in the fourth quarter. Resources Investment Advisors Inc. now owns 1,170 shares of the medical research company’s stock valued at $132,000 after purchasing an additional 465 shares in the last quarter. Exane Derivatives grew its stake in Edwards Lifesciences by 381.3% in the fourth quarter. Exane Derivatives now owns 1,213 shares of the medical research company’s stock valued at $137,000 after purchasing an additional 961 shares in the last quarter. Finally, MPS Loria Financial Planners LLC bought a new position in Edwards Lifesciences in the second quarter valued at approximately $140,000. Institutional investors and hedge funds own 81.78% of the company’s stock.
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Edwards Lifesciences Company Profile
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.
