Edwards Lifesciences (EW) Price Target Increased to $175.00 by Analysts at Raymond James

Edwards Lifesciences (NYSE:EW) had its target price lifted by equities research analysts at Raymond James from $160.00 to $175.00 in a note issued to investors on Thursday. The brokerage currently has an “outperform” rating on the medical research company’s stock. Raymond James’ target price suggests a potential upside of 11.32% from the company’s previous close.

Several other research firms have also recently issued reports on EW. SunTrust Banks raised their price objective on shares of Edwards Lifesciences to $200.00 and gave the stock a “buy” rating in a research report on Friday, September 28th. Bank of America cut shares of Edwards Lifesciences from a “buy” rating to a “neutral” rating in a research report on Tuesday, October 2nd. Guggenheim cut shares of Edwards Lifesciences from a “buy” rating to a “neutral” rating in a research report on Tuesday, October 2nd. Zacks Investment Research upgraded shares of Edwards Lifesciences from a “hold” rating to a “buy” rating and set a $185.00 price objective for the company in a research report on Wednesday, September 26th. Finally, Cowen set a $190.00 price target on shares of Edwards Lifesciences and gave the company a “buy” rating in a research report on Friday, November 30th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $162.85.

Edwards Lifesciences stock opened at $157.21 on Thursday. Edwards Lifesciences has a 12-month low of $110.68 and a 12-month high of $175.00. The stock has a market cap of $34.14 billion, a P/E ratio of 41.37, a PEG ratio of 2.15 and a beta of 0.90. The company has a quick ratio of 1.85, a current ratio of 2.31 and a debt-to-equity ratio of 0.18.

Edwards Lifesciences (NYSE:EW) last released its quarterly earnings data on Tuesday, October 23rd. The medical research company reported $1.07 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.02 by $0.05. Edwards Lifesciences had a net margin of 20.67% and a return on equity of 30.11%. The firm had revenue of $906.60 million during the quarter, compared to analysts’ expectations of $927.56 million. During the same period last year, the business earned $0.84 earnings per share. Edwards Lifesciences’s revenue was up 10.4% compared to the same quarter last year. As a group, equities research analysts predict that Edwards Lifesciences will post 4.7 earnings per share for the current year.

In related news, CEO Michael A. Mussallem sold 32,900 shares of Edwards Lifesciences stock in a transaction that occurred on Wednesday, September 12th. The shares were sold at an average price of $144.02, for a total value of $4,738,258.00. Following the completion of the transaction, the chief executive officer now owns 76,026 shares in the company, valued at $10,949,264.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Huimin Wang sold 33,800 shares of Edwards Lifesciences stock in a transaction that occurred on Tuesday, November 6th. The shares were sold at an average price of $150.43, for a total transaction of $5,084,534.00. Following the completion of the transaction, the vice president now owns 81,665 shares of the company’s stock, valued at approximately $12,284,865.95. The disclosure for this sale can be found here. Insiders sold 187,156 shares of company stock valued at $27,603,513 in the last 90 days. Company insiders own 1.84% of the company’s stock.

Several hedge funds have recently made changes to their positions in EW. Raymond James Financial Services Advisors Inc. lifted its stake in Edwards Lifesciences by 36.5% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 12,442 shares of the medical research company’s stock worth $1,811,000 after acquiring an additional 3,327 shares during the last quarter. Alps Advisors Inc. purchased a new position in Edwards Lifesciences in the second quarter worth approximately $463,000. TD Asset Management Inc. lifted its stake in Edwards Lifesciences by 2.9% in the second quarter. TD Asset Management Inc. now owns 82,295 shares of the medical research company’s stock worth $11,980,000 after acquiring an additional 2,328 shares during the last quarter. First Trust Advisors LP lifted its stake in Edwards Lifesciences by 633.6% in the second quarter. First Trust Advisors LP now owns 364,884 shares of the medical research company’s stock worth $53,116,000 after acquiring an additional 315,144 shares during the last quarter. Finally, LMR Partners LLP lifted its stake in Edwards Lifesciences by 133.3% in the second quarter. LMR Partners LLP now owns 4,508 shares of the medical research company’s stock worth $656,000 after acquiring an additional 2,576 shares during the last quarter. Hedge funds and other institutional investors own 82.55% of the company’s stock.

Edwards Lifesciences Company Profile

Edwards Lifesciences Corporation provides products and technologies to treat structural heart disease and critically ill patients in the United States and internationally. It offers transcatheter heart valve therapy products comprising transcatheter aortic heart valves and related delivery systems for the nonsurgical replacement of heart valves.

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Analyst Recommendations for Edwards Lifesciences (NYSE:EW)

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