Edwards Lifesciences Corporation (NYSE:EW) Receives Consensus Recommendation of “Buy” from Brokerages

Edwards Lifesciences Corporation (NYSE:EW) has been assigned an average recommendation of “Buy” from the twenty-six research firms that are presently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation, eighteen have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $115.43.

A number of equities research analysts have recently weighed in on EW shares. Vetr downgraded shares of Edwards Lifesciences Corporation from a “strong-buy” rating to a “buy” rating and set a $105.74 price target on the stock. in a research note on Monday, March 27th. Evercore ISI upgraded shares of Edwards Lifesciences Corporation from an “in-line” rating to an “outperform” rating and raised their price target for the company from $98.50 to $110.00 in a research note on Monday, March 27th. Cowen and Company restated an “outperform” rating and issued a $120.00 price target on shares of Edwards Lifesciences Corporation in a research note on Tuesday, March 28th. Stifel Nicolaus raised their price target on shares of Edwards Lifesciences Corporation from $114.00 to $118.00 and gave the company a “buy” rating in a research note on Wednesday, April 26th. Finally, Royal Bank Of Canada raised their price target on shares of Edwards Lifesciences Corporation from $116.00 to $120.00 and gave the company an “outperform” rating in a research note on Wednesday, April 26th.

Edwards Lifesciences Corporation (NYSE:EW) opened at 116.49 on Monday. Edwards Lifesciences Corporation has a 52-week low of $81.12 and a 52-week high of $121.75. The firm has a 50-day moving average of $117.17 and a 200-day moving average of $103.04. The firm has a market capitalization of $24.44 billion, a price-to-earnings ratio of 38.73 and a beta of 0.63.

Edwards Lifesciences Corporation (NYSE:EW) last announced its quarterly earnings data on Tuesday, April 25th. The medical research company reported $0.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.82 by $0.12. The firm had revenue of $883.50 million for the quarter, compared to the consensus estimate of $776.51 million. Edwards Lifesciences Corporation had a net margin of 20.85% and a return on equity of 25.80%. The business’s revenue for the quarter was up 26.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.71 earnings per share. On average, equities research analysts forecast that Edwards Lifesciences Corporation will post $3.53 EPS for the current fiscal year.

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In related news, CEO Michael A. Mussallem sold 49,100 shares of the business’s stock in a transaction dated Friday, April 28th. The stock was sold at an average price of $109.78, for a total value of $5,390,198.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Bernard J. Zovighian sold 18,050 shares of the business’s stock in a transaction dated Thursday, April 27th. The shares were sold at an average price of $109.21, for a total value of $1,971,240.50. The disclosure for this sale can be found here. Insiders sold a total of 252,101 shares of company stock worth $28,141,680 over the last three months. 2.13% of the stock is owned by insiders.

Large investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in shares of Edwards Lifesciences Corporation by 2.5% in the first quarter. Vanguard Group Inc. now owns 20,341,668 shares of the medical research company’s stock valued at $1,913,541,000 after buying an additional 505,725 shares in the last quarter. BlackRock Inc. boosted its stake in shares of Edwards Lifesciences Corporation by 2,184.9% in the first quarter. BlackRock Inc. now owns 14,003,695 shares of the medical research company’s stock valued at $1,317,326,000 after buying an additional 13,390,818 shares in the last quarter. State Street Corp boosted its stake in shares of Edwards Lifesciences Corporation by 1.7% in the first quarter. State Street Corp now owns 9,388,994 shares of the medical research company’s stock valued at $883,219,000 after buying an additional 157,844 shares in the last quarter. Alliancebernstein L.P. boosted its stake in shares of Edwards Lifesciences Corporation by 29.8% in the first quarter. Alliancebernstein L.P. now owns 6,366,425 shares of the medical research company’s stock valued at $598,890,000 after buying an additional 1,459,921 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its stake in shares of Edwards Lifesciences Corporation by 17.4% in the first quarter. Ameriprise Financial Inc. now owns 5,737,459 shares of the medical research company’s stock valued at $539,685,000 after buying an additional 850,168 shares in the last quarter. Hedge funds and other institutional investors own 83.62% 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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