Edwards Lifesciences (EW) Lifted to Buy at Zacks Investment Research

Edwards Lifesciences (NYSE:EW) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Thursday. The firm presently has a $145.00 price target on the medical research company’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 14.66% from the company’s current price.

According to Zacks, “Edwards Lifesciences exited the fourth quarter 2017 on a solid note. The company has witnessed growth across all segments. It also performed well on both the gross and operating margin fronts. Also, the raised 2018 revenue and earnings guidance buoys optimism. We are currently looking forward to the company’s buyout of Harpoon Medical which should significantly boost its Surgical Heart Valve Therapy portfolio. Management expects to gain traction in the ever-expanding TAVR market, based on increasing preference in favor of transcatheter aortic valve replacement as well as compelling clinical evidence, leading to strong adoption of THV therapy. However, tough competition in the cardiac devices market and reimbursement issues continue to pose challenges. Also, over the past six months, Edwards Lifesciences has underperformed the broader industry.”

Other equities analysts have also recently issued reports about the company. Cowen set a $135.00 target price on Edwards Lifesciences and gave the company a “buy” rating in a research note on Sunday, December 10th. Evercore ISI began coverage on Edwards Lifesciences in a research note on Wednesday, January 3rd. They set an “outperform” rating and a $140.00 target price for the company. Barclays upgraded Edwards Lifesciences from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $125.00 to $135.00 in a research note on Thursday, January 4th. Deutsche Bank reduced their target price 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. Finally, Canaccord Genuity reiterated a “buy” rating and set a $137.00 target price on shares of Edwards Lifesciences in a research note on Wednesday, November 29th. Three analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $140.04.

Edwards Lifesciences (NYSE:EW) traded down $3.24 during midday trading on Thursday, reaching $126.46. The company’s stock had a trading volume of 855,415 shares, compared to its average volume of 1,361,524. The stock has a market cap of $26,892.66, a PE ratio of 43.95, a PEG ratio of 1.88 and a beta of 0.63. Edwards Lifesciences has a 52-week low of $89.20 and a 52-week high of $138.48. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.41 and a current ratio of 1.81.

Edwards Lifesciences (NYSE:EW) last released its quarterly earnings results on Thursday, February 1st. The medical research company reported $0.94 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.91 by $0.03. The firm had revenue of $888.50 million during the quarter, compared to analysts’ expectations of $868.45 million. Edwards Lifesciences had a return on equity of 27.69% and a net margin of 18.11%. Edwards Lifesciences’s quarterly revenue was up 15.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.75 EPS. equities analysts anticipate that Edwards Lifesciences will post 4.49 EPS for the current fiscal year.

Edwards Lifesciences declared that its Board of Directors has initiated a stock buyback program on Thursday, December 7th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the medical research company to purchase shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

In other Edwards Lifesciences news, VP Larry L. Wood sold 18,960 shares of the stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $104.76, for a total value of $1,986,249.60. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Michael A. Mussallem sold 32,900 shares of the stock in a transaction on Monday, November 20th. The stock was sold at an average price of $106.86, for a total value of $3,515,694.00. The disclosure for this sale can be found here. Insiders have sold 175,940 shares of company stock worth $20,049,578 over the last 90 days. 2.13% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of EW. Cerebellum GP LLC acquired a new stake in Edwards Lifesciences in the fourth quarter worth $128,000. Resources Investment Advisors Inc. increased its position 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 worth $132,000 after buying an additional 465 shares during the period. Exane Derivatives increased its position in Edwards Lifesciences by 381.3% in the fourth quarter. Exane Derivatives now owns 1,213 shares of the medical research company’s stock worth $137,000 after buying an additional 961 shares during the period. MPS Loria Financial Planners LLC acquired a new stake in Edwards Lifesciences in the second quarter worth $140,000. Finally, Dupont Capital Management Corp acquired a new stake in Edwards Lifesciences in the third quarter worth $142,000. 81.52% of the stock is currently owned by hedge funds and other institutional investors.

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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.

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