Edwards Lifesciences (EW) Upgraded to Overweight at Barclays

Edwards Lifesciences (NYSE:EW) was upgraded by research analysts at Barclays from an “equal weight” rating to an “overweight” rating in a research note issued on Thursday, Marketbeat reports. The firm presently has a $135.00 price target on the medical research company’s stock, up from their previous price target of $125.00. Barclays’ target price would suggest a potential upside of 17.61% from the stock’s current price.

A number of other equities analysts have also recently issued reports on EW. Evercore ISI assumed coverage on shares of Edwards Lifesciences in a research report on Wednesday. They set an “outperform” rating and a $140.00 target price for the company. JPMorgan Chase & Co. cut shares of Edwards Lifesciences from an “overweight” rating to a “neutral” rating in a research report on Tuesday. Morgan Stanley cut their target price on shares of Edwards Lifesciences from $133.00 to $120.00 and set an “overweight” rating for the company in a research report on Thursday, October 26th. Canaccord Genuity restated a “buy” rating and set a $155.00 target price on shares of Edwards Lifesciences in a research report on Sunday, October 8th. Finally, BMO Capital Markets restated a “buy” rating and set a $137.00 target price on shares of Edwards Lifesciences in a research report on Friday, December 8th. Six research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $128.57.

Edwards Lifesciences (NYSE:EW) traded up $0.20 during mid-day trading on Thursday, reaching $114.79. 402,582 shares of the company were exchanged, compared to its average volume of 1,516,400. The stock has a market capitalization of $24,200.00, a P/E ratio of 33.37, a P/E/G ratio of 1.79 and a beta of 0.51. Edwards Lifesciences has a 52-week low of $86.55 and a 52-week high of $121.45. The company has a current ratio of 3.49, a quick ratio of 2.76 and a debt-to-equity ratio of 0.33.

Edwards Lifesciences (NYSE:EW) last released its quarterly earnings data on Tuesday, October 24th. The medical research company reported $0.84 EPS for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.02). The company had revenue of $821.50 million for the quarter, compared to analysts’ expectations of $833.85 million. Edwards Lifesciences had a return on equity of 27.22% and a net margin of 22.47%. The firm’s quarterly revenue was up 11.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.68 EPS. analysts predict that Edwards Lifesciences will post 3.76 earnings per share for the current year.

Edwards Lifesciences declared that its Board of Directors has approved a stock repurchase program on Thursday, December 7th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the medical research company to buy shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

In other Edwards Lifesciences news, VP Larry L. Wood sold 18,960 shares of the business’s stock in a transaction that occurred on Monday, October 16th. The shares were sold at an average price of $108.54, for a total transaction of $2,057,918.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael A. Mussallem sold 32,900 shares of the business’s stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $100.93, for a total transaction of $3,320,597.00. The disclosure for this sale can be found here. Insiders have sold 177,680 shares of company stock valued at $19,285,511 in the last ninety days. 2.13% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in Edwards Lifesciences by 2.0% during the second quarter. Vanguard Group Inc. now owns 20,748,569 shares of the medical research company’s stock worth $2,453,311,000 after buying an additional 406,901 shares during the period. BlackRock Inc. grew its stake in Edwards Lifesciences by 0.8% during the second quarter. BlackRock Inc. now owns 14,109,514 shares of the medical research company’s stock worth $1,668,309,000 after buying an additional 105,819 shares during the period. Wells Fargo & Company MN grew its stake 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 worth $278,553,000 after buying an additional 429,022 shares during the period. American Century Companies Inc. boosted its stake in shares of Edwards Lifesciences by 7.0% in the third quarter. American Century Companies Inc. now owns 2,224,010 shares of the medical research company’s stock valued at $243,107,000 after purchasing an additional 144,701 shares during the period. Finally, Artisan Partners Limited Partnership boosted its stake in shares of Edwards Lifesciences by 12.0% in the third quarter. Artisan Partners Limited Partnership now owns 1,432,428 shares of the medical research company’s stock valued at $156,579,000 after purchasing an additional 153,896 shares during the period. Institutional investors own 81.01% of the company’s stock.

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About Edwards Lifesciences

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.

Analyst Recommendations for Edwards Lifesciences (NYSE:EW)

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