Edwards Lifesciences (EW) Upgraded at ValuEngine

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Edwards Lifesciences (NYSE:EW) was upgraded by equities researchers at ValuEngine from a “hold” rating to a “buy” rating in a research note issued on Wednesday, September 19th.

EW has been the subject of a number of other reports. Citigroup upped their price objective on shares of Edwards Lifesciences from $115.00 to $118.00 and gave the stock a “sell” rating in a research report on Tuesday, July 31st. Zacks Investment Research downgraded shares of Edwards Lifesciences from a “buy” rating to a “hold” rating in a research report on Monday, July 16th. SunTrust Banks reduced their price objective on shares of Edwards Lifesciences to $170.00 and set a “buy” rating for the company in a research report on Friday, August 10th. Raymond James started coverage on shares of Edwards Lifesciences in a research report on Thursday, May 31st. They issued an “outperform” rating and a $152.00 price objective for the company. Finally, Jefferies Financial Group reissued a “buy” rating and set a $168.00 target price on shares of Edwards Lifesciences in a research report on Friday, July 27th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and fifteen have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $155.30.

EW stock traded up $3.62 during trading on Wednesday, reaching $143.39. The stock had a trading volume of 2,098,946 shares, compared to its average volume of 1,375,395. Edwards Lifesciences has a one year low of $100.20 and a one year high of $175.00. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.47 and a current ratio of 1.86. The company has a market capitalization of $36.45 billion, a price-to-earnings ratio of 37.73, a PEG ratio of 2.41 and a beta of 0.56.

Edwards Lifesciences (NYSE:EW) last issued its quarterly earnings data on Thursday, July 26th. The medical research company reported $1.24 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.13 by $0.11. Edwards Lifesciences had a net margin of 19.59% and a return on equity of 29.11%. The business had revenue of $972.00 million during the quarter, compared to the consensus estimate of $968.32 million. During the same period in the prior year, the firm posted $1.08 EPS. The firm’s quarterly revenue was up 10.0% compared to the same quarter last year. On average, sell-side analysts forecast that Edwards Lifesciences will post 4.67 EPS for the current fiscal year.

In related news, VP Huimin Wang sold 3,800 shares of the company’s stock in a transaction that occurred on Friday, October 5th. The shares were sold at an average price of $152.79, for a total transaction of $580,602.00. Following the sale, the vice president now directly owns 81,665 shares in the company, valued at approximately $12,477,595.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael A. Mussallem sold 32,900 shares of the company’s stock in a transaction that occurred on Tuesday, July 31st. The shares were sold at an average price of $141.86, for a total transaction of $4,667,194.00. Following the sale, the chief executive officer now owns 43,126 shares in the company, valued at $6,117,854.36. The disclosure for this sale can be found here. Insiders have sold a total of 158,811 shares of company stock valued at $22,738,863 over the last three months. Insiders own 1.84% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. FMR LLC lifted its stake in Edwards Lifesciences by 32.9% in the 2nd quarter. FMR LLC now owns 6,714,684 shares of the medical research company’s stock worth $977,456,000 after purchasing an additional 1,663,511 shares in the last quarter. WCM Investment Management CA lifted its stake in Edwards Lifesciences by 19,310.8% in the 2nd quarter. WCM Investment Management CA now owns 455,377 shares of the medical research company’s stock worth $66,290,000 after purchasing an additional 453,031 shares in the last quarter. Morgan Stanley lifted its stake in Edwards Lifesciences by 38.4% in the 2nd quarter. Morgan Stanley now owns 1,329,458 shares of the medical research company’s stock worth $193,531,000 after purchasing an additional 369,027 shares in the last quarter. First Trust Advisors LP lifted its stake in Edwards Lifesciences by 633.6% in the 2nd quarter. First Trust Advisors LP now owns 364,884 shares of the medical research company’s stock worth $53,116,000 after purchasing an additional 315,144 shares in the last quarter. Finally, Voya Investment Management LLC lifted its stake in Edwards Lifesciences by 47.9% in the 2nd quarter. Voya Investment Management LLC now owns 911,238 shares of the medical research company’s stock worth $132,649,000 after purchasing an additional 295,113 shares in the last quarter. Institutional investors own 82.10% 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.

Read More: Price to Earnings Ratio (PE)

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Edwards Lifesciences (NYSE:EW)

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