Edwards Lifesciences (NYSE:EW) Stock Rating Raised to Strong-Buy at Truist Financial

Edwards Lifesciences (NYSE:EW) was upgraded by equities research analysts at Truist Financial from a “hold” rating to a “strong-buy” rating in a research note issued on Wednesday, Zacks reports.

EW has been the subject of a number of other research reports. Raymond James Financial increased their target price on shares of Edwards Lifesciences from $100.00 to $103.00 and gave the company an “outperform” rating in a research report on Friday, July 24th. Weiss Ratings reiterated a “hold (c)” rating on shares of Edwards Lifesciences in a report on Thursday, October 15th. Robert W. Baird cut their price target on Edwards Lifesciences from $94.00 to $90.00 and set a “neutral” rating for the company in a research note on Thursday, October 15th. JPMorgan Chase & Co. boosted their target price on Edwards Lifesciences from $100.00 to $105.00 and gave the stock an “overweight” rating in a research note on Friday, October 2nd. Finally, Citigroup reissued a “buy” rating and issued a $101.00 price objective (up from $96.00) on shares of Edwards Lifesciences in a report on Monday, October 5th. Two analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, Edwards Lifesciences has a consensus rating of “Moderate Buy” and a consensus target price of $101.88.

Edwards Lifesciences Price Performance

EW stock opened at $99.39 on Wednesday. The company has a 50 day simple moving average of $88.48 and a 200 day simple moving average of $85.61. The stock has a market cap of $57.23 billion, a price-to-earnings ratio of 57.12, a P/E/G 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 has a 1 year low of $74.66 and a 1 year high of $100.25.

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

Insider Transactions at Edwards Lifesciences

In other news, SVP Andrew M. Dahl sold 544 shares of Edwards Lifesciences stock in a transaction dated Monday, August 31st. The stock was sold at an average price of $91.06, for a total value of $49,536.64. Following the completion of the transaction, the senior vice president owned 14,868 shares of the company’s stock, valued at $1,353,880.08. The trade was a 3.53% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Annette Brüls sold 2,644 shares of the company’s stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $89.98, for a total value of $237,907.12. Following the completion of the transaction, the vice president directly owned 17,984 shares in the company, valued at $1,618,200.32. This trade represents a 12.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 5,045 shares of company stock valued at $451,596. Corporate insiders own 0.31% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. Pin Oak Investment Advisors Inc. purchased a new stake in Edwards Lifesciences during the second quarter valued at $26,000. TrinityBridge Ltd bought a new position in Edwards Lifesciences in the 2nd quarter worth approximately $27,000. GK Wealth Management LLC purchased a new stake in Edwards Lifesciences during the third quarter valued at $26,000. RMG Wealth Management LLC purchased a new position in Edwards Lifesciences in the first quarter worth about $26,000. Finally, Compass Financial Management LLC bought a new position in shares of Edwards Lifesciences during the 2nd quarter valued at approximately $32,000. 79.46% of the stock is owned by hedge funds and other institutional investors.

Key Edwards Lifesciences News

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 $1.68 billion expected. Revenue grew 10.5% year over year, providing a fundamental boost to sentiment. Earnings results
• Positive Sentiment: New CLASP II TR data showed the PASCAL system for tricuspid valve repair outperformed medical therapy, with benefits sustained through one year. The findings may strengthen the case for the product and support future growth. PASCAL trial results
• Positive Sentiment: Results from the PROGRESS trial indicated TAVR reduced the risk of death or heart-failure events in patients with moderate aortic stenosis, potentially supporting use of the procedure in additional patients. PROGRESS trial results
• Negative Sentiment: RBC said the PROGRESS findings are unlikely to meaningfully expand the market for transcatheter aortic valve replacement, tempering expectations for the trial’s commercial impact. RBC analysis

Edwards Lifesciences Company Profile

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.