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 note issued to investors on Thursday. The brokerage presently has a $145.00 price objective on the medical research company’s stock. Zacks Investment Research‘s target price points to a potential upside of 14.31% from the stock’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.”

Several other analysts also recently weighed in on the stock. Guggenheim reissued a “buy” rating and issued a $162.00 price target on shares of Edwards Lifesciences in a research note on Friday, February 2nd. JMP Securities upped their price objective on shares of Edwards Lifesciences from $135.00 to $140.00 and gave the company a “market outperform” rating in a research note on Friday, February 2nd. Stifel Nicolaus reaffirmed a “buy” rating and set a $155.00 price objective on shares of Edwards Lifesciences in a research note on Friday, February 2nd. Barclays upped their price objective on shares of Edwards Lifesciences from $135.00 to $155.00 and gave the company an “overweight” rating in a research note on Friday, February 2nd. Finally, Morgan Stanley upped their price objective on shares of Edwards Lifesciences from $130.00 to $138.00 and gave the company an “overweight” rating in a research note on Friday, February 2nd. Three equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $140.04.

Shares of Edwards Lifesciences (NYSE:EW) traded down $2.85 during trading hours on Thursday, reaching $126.85. 739,155 shares of the company traded hands, compared to its average volume of 1,356,449. Edwards Lifesciences has a one year low of $89.20 and a one year high of $138.48. The stock has a market capitalization of $26,892.66, a price-to-earnings ratio of 44.05, a PEG ratio of 1.88 and a beta of 0.63. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.81 and a quick ratio of 1.41.

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

Edwards Lifesciences announced that its Board of Directors has authorized a share buyback program on Thursday, December 7th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the medical research company to buy shares of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its shares are undervalued.

In other news, VP Donald E. Bobo, Jr. sold 5,300 shares of the stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $116.45, for a total transaction of $617,185.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Larry L. Wood sold 18,960 shares of the stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $104.76, for a total transaction of $1,986,249.60. The disclosure for this sale can be found here. In the last 90 days, insiders sold 175,940 shares of company stock worth $20,049,578. Corporate insiders own 2.13% of the company’s stock.

Several large investors have recently bought and sold shares of EW. Koch Industries Inc. grew its holdings in shares of Edwards Lifesciences by 28,363.1% during the second quarter. Koch Industries Inc. now owns 1,397,254 shares of the medical research company’s stock valued at $1,386,000 after buying an additional 1,392,345 shares during the last quarter. Atlantic Trust Group LLC lifted its position in Edwards Lifesciences by 734.7% during the third quarter. Atlantic Trust Group LLC now owns 914,989 shares of the medical research company’s stock valued at $100,018,000 after purchasing an additional 805,370 shares during the period. Janus Henderson Group PLC lifted its position in Edwards Lifesciences by 1,135.0% during the third quarter. Janus Henderson Group PLC now owns 619,703 shares of the medical research company’s stock valued at $67,739,000 after purchasing an additional 569,525 shares during the period. Old Mutual Global Investors UK Ltd. lifted its position in Edwards Lifesciences by 83.0% during the third quarter. Old Mutual Global Investors UK Ltd. now owns 1,100,885 shares of the medical research company’s stock valued at $120,337,000 after purchasing an additional 499,436 shares during the period. Finally, Wells Fargo & Company MN lifted its position in Edwards Lifesciences by 20.2% during the third quarter. Wells Fargo & Company MN now owns 2,548,282 shares of the medical research company’s stock valued at $278,553,000 after purchasing an additional 429,022 shares during the period. Hedge funds and other institutional investors own 81.52% 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.

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