Edwards Lifesciences (NYSE:EW) had its target price raised by Barclays from $135.00 to $155.00 in a report issued on Friday. The brokerage presently has an “overweight” rating on the medical research company’s stock. Barclays’ target price indicates a potential upside of 17.58% from the stock’s current price.
Other research analysts have also issued research reports about the company. Canaccord Genuity reaffirmed a “buy” rating and set a $174.00 price objective (up previously from $140.00) on shares of Edwards Lifesciences in a report on Friday. Morgan Stanley upped their price objective on Edwards Lifesciences from $130.00 to $138.00 and gave the stock an “overweight” rating in a report on Friday. Cowen reaffirmed a “buy” rating and set a $150.00 price objective on shares of Edwards Lifesciences in a report on Thursday. SunTrust Banks reaffirmed a “buy” rating and set a $150.00 price objective on shares of Edwards Lifesciences in a report on Wednesday. Finally, JPMorgan Chase & Co. lowered Edwards Lifesciences from an “overweight” rating to a “neutral” rating in a report on Tuesday, January 2nd. Six research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and an average 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. Edwards Lifesciences has a twelve month low of $86.55 and a twelve month high of $138.48. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.49 and a quick ratio of 2.76. The stock has a market capitalization of $27,900.00, a PE ratio of 45.77, a PEG ratio of 2.02 and a beta of 0.63.
Edwards Lifesciences announced that its board has authorized a stock buyback plan on Thursday, December 7th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the medical research company to reacquire shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its shares are undervalued.
In related news, 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 transaction of $3,515,694.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Donald E. Bobo, Jr. sold 5,300 shares of the stock in a transaction on Monday, January 29th. The shares were sold at an average price of $127.24, for a total value of $674,372.00. Following the sale, the vice president now directly owns 24,908 shares in the company, valued at approximately $3,169,293.92. The disclosure for this sale can be found here. Insiders sold 164,920 shares of company stock worth $18,578,747 in the last three months. 2.13% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently bought and sold shares of EW. ETF Managers Group LLC acquired a new stake in shares of Edwards Lifesciences during the second quarter valued at $112,000. Cerebellum GP LLC acquired a new stake in shares of Edwards Lifesciences during the fourth quarter valued at $128,000. Resources Investment Advisors Inc. boosted its stake in shares of Edwards Lifesciences by 66.0% during the fourth quarter. Resources Investment Advisors Inc. now owns 1,170 shares of the medical research company’s stock valued at $132,000 after acquiring an additional 465 shares during the last quarter. Exane Derivatives boosted its stake in shares of Edwards Lifesciences by 381.3% during the fourth quarter. Exane Derivatives now owns 1,213 shares of the medical research company’s stock valued at $137,000 after acquiring an additional 961 shares during the last quarter. Finally, MPS Loria Financial Planners LLC acquired a new stake in shares of Edwards Lifesciences during the second quarter valued at $140,000. 81.78% of the stock is currently owned by institutional investors and hedge funds.
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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.
