Edwards Lifesciences (NYSE:EW) Hits New 1-Year High on Analyst Upgrade

Edwards Lifesciences Corp (NYSE:EW)’s share price reached a new 52-week high on Tuesday after Royal Bank of Canada raised their price target on the stock to $250.00. Royal Bank of Canada currently has an outperform rating on the stock. Edwards Lifesciences traded as high as $231.24 and last traded at $230.28, with a volume of 41508 shares changing hands. The stock had previously closed at $227.21.

Several other equities analysts have also recently commented on EW. UBS Group raised their price target on shares of Edwards Lifesciences from $205.00 to $230.00 and gave the company a “neutral” rating in a research report on Wednesday, October 16th. Bank of America reissued a “buy” rating and issued a $225.00 price target (up previously from $215.00) on shares of Edwards Lifesciences in a research report on Wednesday, July 24th. Piper Jaffray Companies started coverage on shares of Edwards Lifesciences in a research report on Monday, September 23rd. They issued an “overweight” rating and a $240.00 price target for the company. JPMorgan Chase & Co. raised their price target on shares of Edwards Lifesciences from $190.00 to $225.00 and gave the company a “neutral” rating in a research report on Wednesday, July 24th. Finally, Jefferies Financial Group raised their price target on shares of Edwards Lifesciences from $210.00 to $245.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and thirteen have issued a buy rating to the company. Edwards Lifesciences presently has an average rating of “Buy” and an average target price of $223.22.

In other news, VP Catherine M. Szyman sold 372 shares of Edwards Lifesciences stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $214.53, for a total transaction of $79,805.16. Following the completion of the sale, the vice president now directly owns 18,010 shares of the company’s stock, valued at approximately $3,863,685.30. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Michael A. Mussallem sold 22,850 shares of Edwards Lifesciences stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $216.70, for a total transaction of $4,951,595.00. Following the sale, the chief executive officer now directly owns 95,770 shares of the company’s stock, valued at $20,753,359. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 154,670 shares of company stock valued at $33,420,945. Corporate insiders own 1.63% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in EW. TRUE Private Wealth Advisors purchased a new stake in Edwards Lifesciences in the second quarter valued at $26,000. Evolution Wealth Advisors LLC acquired a new position in Edwards Lifesciences in the second quarter valued at $29,000. M&R Capital Management Inc. acquired a new position in Edwards Lifesciences in the second quarter valued at $29,000. Next Capital Management LLC increased its stake in Edwards Lifesciences by 297.7% in the second quarter. Next Capital Management LLC now owns 171 shares of the medical research company’s stock valued at $32,000 after purchasing an additional 128 shares during the period. Finally, Tarbox Family Office Inc. increased its stake in Edwards Lifesciences by 48.7% in the second quarter. Tarbox Family Office Inc. now owns 177 shares of the medical research company’s stock valued at $33,000 after purchasing an additional 58 shares during the period. 81.75% of the stock is owned by institutional investors and hedge funds.

The company has a debt-to-equity ratio of 0.18, a current ratio of 3.38 and a quick ratio of 2.48. The company has a market capitalization of $47.30 billion, a price-to-earnings ratio of 47.25, a price-to-earnings-growth ratio of 2.87 and a beta of 0.84. The business’s 50 day simple moving average is $222.13 and its 200 day simple moving average is $199.35.

Edwards Lifesciences (NYSE:EW) last posted its quarterly earnings data on Tuesday, July 23rd. The medical research company reported $1.38 EPS for the quarter, beating analysts’ consensus estimates of $1.33 by $0.05. The company had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.04 billion. Edwards Lifesciences had a net margin of 18.29% and a return on equity of 31.25%. Edwards Lifesciences’s quarterly revenue was up 15.2% on a year-over-year basis. During the same period in the previous year, the business posted $1.24 earnings per share. As a group, analysts expect that Edwards Lifesciences Corp will post 5.33 EPS for the current fiscal year.

About Edwards Lifesciences (NYSE:EW)

Edwards Lifesciences Corporation provides products and technologies for structural heart disease and critical care monitoring in the United States and internationally. It offers transcatheter heart valve therapy products comprising transcatheter aortic valve replacement, and transcatheter mitral and tricuspid therapies for the nonsurgical replacement of heart valves.

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