Cowen and Company Reaffirms “Buy” Rating for Edwards Lifesciences Corporation (EW)

Cowen and Company reaffirmed their buy rating on shares of Edwards Lifesciences Corporation (NYSE:EW) in a report published on Thursday. They currently have a $135.00 price target on the medical research company’s stock.

EW has been the topic of a number of other research reports. Canaccord Genuity reaffirmed a buy rating and set a $150.00 target price on shares of Edwards Lifesciences Corporation in a report on Wednesday, June 28th. BidaskClub raised Edwards Lifesciences Corporation from a buy rating to a strong-buy rating in a report on Thursday, June 22nd. Zacks Investment Research downgraded Edwards Lifesciences Corporation from a strong-buy rating to a hold rating in a report on Monday, July 17th. Bank of America Corporation increased their target price on Edwards Lifesciences Corporation from $140.00 to $150.00 and gave the stock a buy rating in a report on Thursday, July 27th. Finally, Royal Bank Of Canada reaffirmed a buy rating and set a $130.00 target price on shares of Edwards Lifesciences Corporation in a report on Friday, September 1st. Seven research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of Buy and a consensus target price of $120.75.

Edwards Lifesciences Corporation (NYSE EW) traded up 0.10% on Thursday, reaching $108.36. The company’s stock had a trading volume of 70,017 shares. The company has a market capitalization of $22.88 billion, a price-to-earnings ratio of 32.87 and a beta of 0.62. The firm’s 50 day moving average price is $111.37 and its 200-day moving average price is $111.56. Edwards Lifesciences Corporation has a 52 week low of $81.12 and a 52 week high of $121.45.

Edwards Lifesciences Corporation (NYSE:EW) last released its earnings results on Wednesday, July 26th. The medical research company reported $1.08 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.20. Edwards Lifesciences Corporation had a return on equity of 27.17% and a net margin of 22.16%. The company had revenue of $842.00 million for the quarter, compared to the consensus estimate of $839.16 million. During the same quarter last year, the business posted $0.76 EPS. Edwards Lifesciences Corporation’s quarterly revenue was up 10.9% compared to the same quarter last year. On average, equities analysts predict that Edwards Lifesciences Corporation will post $3.78 EPS for the current year.

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In other news, VP Donald E. Bobo, Jr. sold 5,300 shares of Edwards Lifesciences Corporation stock in a transaction on Friday, September 29th. The stock was sold at an average price of $108.86, for a total transaction of $576,958.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Larry L. Wood sold 18,960 shares of Edwards Lifesciences Corporation stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $111.81, for a total value of $2,119,917.60. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 182,201 shares of company stock worth $20,768,154. 2.13% of the stock is owned by insiders.

Several hedge funds have recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Edwards Lifesciences Corporation by 2.0% during the 2nd quarter. Vanguard Group Inc. now owns 20,748,569 shares of the medical research company’s stock valued at $2,453,311,000 after purchasing an additional 406,901 shares during the period. BlackRock Inc. increased its position in shares of Edwards Lifesciences Corporation by 0.8% during the 2nd quarter. BlackRock Inc. now owns 14,109,514 shares of the medical research company’s stock valued at $1,668,309,000 after purchasing an additional 105,819 shares during the period. State Street Corp increased its position in shares of Edwards Lifesciences Corporation by 1.7% during the 1st quarter. State Street Corp now owns 9,388,994 shares of the medical research company’s stock valued at $883,219,000 after purchasing an additional 157,844 shares during the period. Bank of New York Mellon Corp increased its position in shares of Edwards Lifesciences Corporation by 161.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 5,304,536 shares of the medical research company’s stock valued at $627,207,000 after purchasing an additional 3,277,726 shares during the period. Finally, Winslow Capital Management LLC increased its position in shares of Edwards Lifesciences Corporation by 0.8% during the 1st quarter. Winslow Capital Management LLC now owns 2,654,484 shares of the medical research company’s stock valued at $249,707,000 after purchasing an additional 19,887 shares during the period. Institutional investors own 81.90% of the company’s stock.

About Edwards Lifesciences Corporation

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.

Analyst Recommendations for Edwards Lifesciences Corporation (NYSE:EW)

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