Edwards Lifesciences (NYSE:EW) Earns Overweight Rating from Piper Sandler

Edwards Lifesciences (NYSE:EW)‘s stock had its “overweight” rating reissued by research analysts at Piper Sandler in a research note issued on Thursday, Benzinga reports. They presently have a $115.00 target price on the medical research company’s stock, up from their previous target price of $101.00. Piper Sandler‘s price objective suggests a potential upside of 14.60% from the company’s current price.

EW has been the topic of a number of other research reports. The Goldman Sachs Group upped their price objective on shares of Edwards Lifesciences from $98.00 to $102.00 and gave the stock a “buy” rating in a report on Tuesday, July 14th. Rothschild & Co Redburn boosted their target price on shares of Edwards Lifesciences from $99.00 to $102.00 and gave the stock a “buy” rating in a report on Monday, July 27th. Royal Bank Of Canada increased their price target on shares of Edwards Lifesciences from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Monday, July 13th. Wells Fargo & Company restated an “overweight” rating and issued a $113.00 price target (up from $100.00) on shares of Edwards Lifesciences in a report on Thursday. Finally, Sanford C. Bernstein increased their target price on Edwards Lifesciences from $96.00 to $99.00 and gave the company a “market perform” rating in a research report on Friday, July 24th. Two analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $104.64.

Edwards Lifesciences Stock Up 1.0%

Shares of EW stock traded up $0.98 during trading hours on Thursday, reaching $100.35. The company had a trading volume of 3,836,516 shares, compared to its average volume of 4,504,843. Edwards Lifesciences has a 12 month low of $74.66 and a 12 month high of $104.17. The business has a fifty day simple moving average of $88.48 and a 200-day simple moving average of $85.61. The company has a market cap of $57.78 billion, a price-to-earnings ratio of 57.69, a price-to-earnings-growth ratio of 2.49 and a beta of 0.85. The company has a debt-to-equity ratio of 0.06, a current ratio of 4.52 and a quick ratio of 3.77.

Edwards Lifesciences (NYSE:EW) last released its quarterly earnings data on Wednesday, November 4th. The medical research company reported $0.80 EPS for the quarter, beating the consensus estimate of $0.74 by $0.06. The business had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.68 billion. Edwards Lifesciences had a net margin of 15.43% and a return on equity of 15.68%. The company’s revenue was up 10.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.67 earnings per share. On average, research analysts expect that Edwards Lifesciences will post 3.00 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, VP Annette Brüls sold 2,644 shares of Edwards Lifesciences stock in a transaction on Friday, August 28th. The stock was sold at an average price of $89.98, for a total transaction of $237,907.12. Following the transaction, the vice president owned 17,984 shares in the company, valued at $1,618,200.32. The trade was a 12.82% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Daniel Lippis sold 619 shares of the firm’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $92.03, for a total transaction of $56,966.57. Following the sale, the vice president owned 40,034 shares of the company’s stock, valued at $3,684,329.02. This represents a 1.52% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 5,045 shares of company stock worth $451,596. 0.31% of the stock is owned by corporate insiders.

Institutional Trading of Edwards Lifesciences

A number of large investors have recently made changes to their positions in the company. BlackRock Inc. bought a new stake in Edwards Lifesciences during the second quarter worth approximately $5,318,092,000. Bank of New York Mellon Corp acquired a new position in Edwards Lifesciences during the second quarter worth $1,274,082,000. Bank of America Corp DE acquired a new stake in Edwards Lifesciences in the 2nd quarter worth approximately $605,397,000. Deutsche Bank AG bought a new stake in shares of Edwards Lifesciences during the 2nd quarter worth $516,552,000. Finally, Legal & General Group Plc bought a new stake in shares of Edwards Lifesciences during the 2nd quarter worth $389,089,000. 79.46% of the stock is currently owned by hedge funds and other institutional investors.

Trending Headlines about Edwards Lifesciences

Here are the key news stories impacting Edwards Lifesciences this week:

• Positive Sentiment: Edwards reported third-quarter adjusted earnings of $0.80 per share, above the $0.74 consensus, and revenue of $1.72 billion versus estimates of $1.68 billion. Revenue increased 10.5% year over year, with structural heart therapy sales supporting growth and margin expansion. The company raised its full-year outlook; reports also highlighted 44% growth in transcatheter mitral and tricuspid therapies. Edwards Q3 Earnings & Revenues Surpass Estimates, Stock Climbs
• Positive Sentiment: Analysts turned more bullish after the results: Baird upgraded EW to outperform, Truist to strong buy, and BTIG maintains a buy rating. Raymond James and JPMorgan also raised their price targets, adding to optimism about the outlook. Baird analyst rating JPMorgan price target
• Positive Sentiment: One-year CLASP II TR trial results showed Edwards’ PASCAL tricuspid repair system outperformed medical therapy, a potential product and clinical catalyst. PASCAL trial results
• Negative Sentiment: Management expects more competition in TAVR, which could pressure market share or growth. Separately, RBC said the Progress trial data may not significantly expand the TAVR market, tempering expectations for broader market growth. CEO discusses TAVR competition

About Edwards Lifesciences

Edwards Lifesciences Corporation (NYSE:EW) is a medical technology company focused on therapies for structural heart disease and critical care. The company develops and manufactures products designed to treat conditions affecting the heart’s valves, including aortic, mitral and tricuspid valve disorders.

Its portfolio includes transcatheter aortic valve replacement systems, transcatheter mitral and tricuspid therapies, surgical heart valves and valve-repair technologies. Edwards also provides related delivery systems and other medical devices used by physicians in minimally invasive and open-heart procedures.

Founded in 1958 by Miles Lowell Edwards, the company is headquartered in Irvine, California, and serves healthcare providers and patients internationally.