Edwards Lifesciences Corp (NYSE:EW) was downgraded by investment analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Tuesday, June 13th.
EW has been the topic of several other research reports. Northland Securities set a $105.00 price target on shares of Edwards Lifesciences Corp and gave the stock a “buy” rating in a research note on Monday, March 20th. Vetr raised shares of Edwards Lifesciences Corp from a “hold” rating to a “buy” rating and set a $116.04 target price for the company in a research report on Thursday, May 4th. Evercore ISI raised shares of Edwards Lifesciences Corp from an “in-line” rating to an “outperform” rating and boosted their target price for the stock from $98.50 to $110.00 in a research report on Monday, March 27th. Jefferies Group LLC reissued a “buy” rating on shares of Edwards Lifesciences Corp in a research report on Wednesday, April 26th. Finally, Stifel Nicolaus boosted their target price on shares of Edwards Lifesciences Corp from $114.00 to $118.00 and gave the stock a “buy” rating in a research report on Wednesday, April 26th. One research analyst has rated the stock with a sell rating, six have given a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $120.38.
Shares of Edwards Lifesciences Corp (NYSE EW) traded down 0.82% during mid-day trading on Tuesday, hitting $117.87. The stock had a trading volume of 1,395,631 shares. The stock’s 50-day moving average is $113.72 and its 200 day moving average is $98.91. Edwards Lifesciences Corp has a 12 month low of $81.12 and a 12 month high of $121.75. The company has a market cap of $24.73 billion, a PE ratio of 39.19 and a beta of 0.75.
Edwards Lifesciences Corp (NYSE:EW) last released its quarterly earnings results on Tuesday, April 25th. The medical research company reported $0.94 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.82 by $0.12. Edwards Lifesciences Corp had a net margin of 26.06% and a return on equity of 34.44%. The firm had revenue of $883.50 million for the quarter, compared to the consensus estimate of $776.51 million. During the same quarter in the previous year, the firm posted $0.71 EPS. The firm’s quarterly revenue was up 26.7% on a year-over-year basis. On average, equities research analysts forecast that Edwards Lifesciences Corp will post $3.53 earnings per share for the current fiscal year.
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In related news, VP Bernard J. Zovighian sold 18,050 shares of the stock in a transaction that occurred on Thursday, April 27th. The shares were sold at an average price of $109.21, for a total transaction of $1,971,240.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael A. Mussallem sold 49,100 shares of the stock in a transaction that occurred on Friday, April 28th. The shares were sold at an average price of $109.78, for a total transaction of $5,390,198.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 284,221 shares of company stock valued at $31,023,158. Company insiders own 2.13% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its stake in Edwards Lifesciences Corp by 2,184.9% in the first quarter. BlackRock Inc. now owns 14,003,695 shares of the medical research company’s stock valued at $1,317,326,000 after buying an additional 13,390,818 shares in the last quarter. Norges Bank acquired a new stake in Edwards Lifesciences Corp during the fourth quarter valued at approximately $217,484,000. Alliancebernstein L.P. raised its stake in Edwards Lifesciences Corp by 29.8% in the first quarter. Alliancebernstein L.P. now owns 6,366,425 shares of the medical research company’s stock valued at $598,890,000 after buying an additional 1,459,921 shares in the last quarter. MARSHALL WACE ASIA Ltd acquired a new stake in Edwards Lifesciences Corp during the first quarter valued at approximately $126,959,000. Finally, Marshall Wace North America L.P. purchased a new stake in Edwards Lifesciences Corp during the first quarter worth about $126,959,000. 84.60% of the stock is owned by institutional investors and hedge funds.
Edwards Lifesciences Corp 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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