Evercore ISI assumed coverage on shares of Edwards Lifesciences (NYSE:EW) in a report released on Wednesday morning. The brokerage issued an outperform rating and a $140.00 target price on the medical research company’s stock.
Several other equities analysts have also issued reports on the company. JPMorgan Chase & Co. lowered Edwards Lifesciences from an overweight rating to a neutral rating in a report on Tuesday. Cowen set a $135.00 target price on Edwards Lifesciences and gave the company a buy rating in a report on Sunday, December 10th. BMO Capital Markets reaffirmed a buy rating and issued a $137.00 target price on shares of Edwards Lifesciences in a report on Friday, December 8th. Canaccord Genuity reaffirmed a buy rating and issued a $137.00 target price on shares of Edwards Lifesciences in a report on Wednesday, November 29th. Finally, Deutsche Bank reduced their target price on Edwards Lifesciences from $122.00 to $115.00 and set a hold rating for the company in a report on Thursday, October 26th. Six investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of Buy and an average target price of $129.57.
Shares of Edwards Lifesciences (NYSE EW) traded up $0.24 on Wednesday, reaching $115.65. The company’s stock had a trading volume of 465,306 shares, compared to its average volume of 1,516,800. 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 company has a market cap of $24,550.00, a price-to-earnings ratio of 33.62, a P/E/G ratio of 1.84 and a beta of 0.51. Edwards Lifesciences has a 1 year low of $86.55 and a 1 year high of $121.45.
Edwards Lifesciences declared that its Board of Directors has authorized a stock repurchase plan on Thursday, December 7th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the medical research company to purchase shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its shares are undervalued.
In other Edwards Lifesciences news, Director Schack Wesley W. Von sold 1,000 shares of the stock in a transaction on Thursday, November 9th. The stock was sold at an average price of $104.15, for a total transaction of $104,150.00. Following the completion of the transaction, the director now directly owns 2,622 shares of the company’s stock, valued at $273,081.30. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Michael A. Mussallem sold 32,900 shares of the stock in a transaction on Monday, October 30th. The shares were sold at an average price of $100.93, for a total value of $3,320,597.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 177,680 shares of company stock valued at $19,285,511. 2.13% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Koch Industries Inc. lifted its position 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 worth $1,386,000 after acquiring an additional 1,392,345 shares in the last quarter. Atlantic Trust Group LLC lifted its position in shares of 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 worth $100,018,000 after acquiring an additional 805,370 shares in the last quarter. Artisan Partners Limited Partnership lifted its position in shares of Edwards Lifesciences by 90.6% during the second quarter. Artisan Partners Limited Partnership now owns 1,278,532 shares of the medical research company’s stock worth $151,174,000 after acquiring an additional 607,784 shares in the last quarter. Janus Henderson Group PLC lifted its position in shares of 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 worth $67,739,000 after acquiring an additional 569,525 shares in the last quarter. Finally, Old Mutual Global Investors UK Ltd. lifted its position in shares of 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 worth $120,337,000 after acquiring an additional 499,436 shares in the last quarter. 81.01% of the stock is owned by institutional investors and hedge funds.
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.
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