Shares of Edwards Lifesciences Corp (NYSE:EW) have been assigned an average rating of “Buy” from the twenty-two brokerages that are currently covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, six have issued a hold recommendation and fourteen have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $189.00.
A number of brokerages have weighed in on EW. Credit Suisse Group boosted their target price on shares of JPMorgan Chase & Co. from $128.00 to $132.00 and gave the company an “outperform” rating in a research note on Monday, April 15th. BTIG Research began coverage on shares of in a research note on Wednesday, April 24th. They set a “buy” rating and a $5.00 target price for the company. JPMorgan Chase & Co. boosted their target price on shares of Edwards Lifesciences from $175.00 to $190.00 and gave the company a “neutral” rating in a research note on Wednesday, March 27th. They noted that the move was a valuation call. Jefferies Financial Group lowered shares of MACOM Technology Solutions from a “buy” rating to a “hold” rating and decreased their target price for the company from $18.00 to $15.00 in a research note on Wednesday, April 24th. Finally, Bank of America began coverage on shares of DENTSPLY SIRONA in a research note on Monday, March 18th. They set a “buy” rating and a $57.00 target price for the company.
In other Edwards Lifesciences news, VP Catherine M. Szyman sold 1,474 shares of the stock in a transaction on Monday, April 15th. The stock was sold at an average price of $192.00, for a total value of $283,008.00. Following the completion of the sale, the vice president now owns 21,132 shares in the company, valued at approximately $4,057,344. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Michael A. Mussallem sold 32,800 shares of the stock in a transaction on Monday, April 29th. The stock was sold at an average price of $174.73, for a total value of $5,731,144.00. Following the completion of the sale, the chief executive officer now owns 75,926 shares of the company’s stock, valued at approximately $13,266,549.98. The disclosure for this sale can be found here. Insiders sold a total of 164,217 shares of company stock valued at $29,618,008 over the last 90 days. 1.63% of the stock is currently owned by company insiders.
Hedge funds have recently modified their holdings of the business. FTB Advisors Inc. purchased a new stake in Edwards Lifesciences in the 1st quarter worth $25,000. Evolution Wealth Advisors LLC bought a new position in shares of Edwards Lifesciences during the 2nd quarter valued at about $29,000. Executive Wealth Management LLC bought a new position in shares of Edwards Lifesciences during the 4th quarter valued at about $25,000. Sontag Advisory LLC bought a new position in shares of Edwards Lifesciences during the 4th quarter valued at about $26,000. Finally, Field & Main Bank bought a new position in shares of Edwards Lifesciences during the 1st quarter valued at about $34,000. Institutional investors and hedge funds own 82.00% of the company’s stock.
EW stock traded down $3.58 during midday trading on Tuesday, hitting $191.45. The company’s stock had a trading volume of 1,026,081 shares, compared to its average volume of 1,498,925. The stock has a market capitalization of $39.92 billion, a P/E ratio of 40.73, a PEG ratio of 2.45 and a beta of 0.85. Edwards Lifesciences has a 12 month low of $134.53 and a 12 month high of $197.86. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.69 and a current ratio of 3.66. The business has a 50-day simple moving average of $182.93.
Edwards Lifesciences (NYSE:EW) last released its quarterly earnings data on Tuesday, April 23rd. The medical research company reported $1.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.23 by $0.09. The business had revenue of $993.00 million for the quarter, compared to analysts’ expectations of $989.87 million. Edwards Lifesciences had a return on equity of 31.16% and a net margin of 20.03%. The firm’s quarterly revenue was up 11.0% on a year-over-year basis. During the same period in the prior year, the firm posted $1.22 EPS. On average, equities analysts predict that Edwards Lifesciences will post 5.29 earnings per share for the current year.
Edwards Lifesciences Company Profile
Edwards Lifesciences Corporation provides products and technologies for structural heart disease and critical care monitoring in the United States and internationally. It offers transcatheter heart valve therapy products comprising transcatheter aortic valve replacement, and transcatheter mitral and tricuspid therapies for the nonsurgical replacement of heart valves.
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