Edwards Lifesciences (NYSE:EW) Stock Lifted to “Outperform” by Robert W. Baird

Robert W. Baird upgraded shares of Edwards Lifesciences (NYSE:EW) from a neutral rating to an outperform rating in a report published on Thursday, MarketBeat.com reports. The brokerage currently has $116.00 price target on the medical research company’s stock.

EW has been the topic of several other reports. Citigroup reissued a “buy” rating and set a $101.00 price objective (up from $96.00) on shares of Edwards Lifesciences in a research note on Monday, October 5th. Royal Bank Of Canada upped their price objective on Edwards Lifesciences from $100.00 to $110.00 and gave the company an “outperform” rating in a research report on Monday, July 13th. Piper Sandler reaffirmed an “overweight” rating and issued a $101.00 price objective (up from $100.00) on shares of Edwards Lifesciences in a research note on Friday, July 24th. JPMorgan Chase & Co. lifted their target price on Edwards Lifesciences from $100.00 to $105.00 and gave the stock an “overweight” rating in a report on Friday, October 2nd. Finally, Barclays raised Edwards Lifesciences to a “strong-buy” rating in a research report on Wednesday, October 7th. Twenty-three research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, Edwards Lifesciences currently has a consensus rating of “Moderate Buy” and an average price target of $108.88.

Edwards Lifesciences Stock Performance

Shares of NYSE:EW opened at $100.70 on Thursday. Edwards Lifesciences has a 52 week low of $74.66 and a 52 week high of $104.17. The stock has a market capitalization of $57.99 billion, a P/E ratio of 56.90, a PEG ratio of 2.60 and a beta of 0.85. The firm has a fifty day simple moving average of $88.68 and a two-hundred day simple moving average of $85.69. The company has a quick ratio of 3.77, a current ratio of 4.52 and a debt-to-equity ratio of 0.06.

Edwards Lifesciences (NYSE:EW) last posted its earnings results on Wednesday, November 4th. The medical research company reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.06. The firm 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 15.30% and a return on equity of 16.25%. The business’s quarterly revenue was up 10.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.67 EPS. On average, analysts expect that Edwards Lifesciences will post 3.00 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, VP Annette Brüls sold 2,644 shares of the company’s stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $89.98, for a total transaction of $237,907.12. Following the transaction, the vice president directly owned 17,984 shares in the company, valued at approximately $1,618,200.32. This represents a 12.82% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Daniel Lippis sold 619 shares of the company’s stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $92.03, for a total transaction of $56,966.57. Following the transaction, the vice president owned 40,034 shares in the company, valued at $3,684,329.02. The trade was a 1.52% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 5,045 shares of company stock valued at $451,596. Company insiders own 0.31% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Maryland State Retirement & Pension System grew its holdings in Edwards Lifesciences by 9.3% during the 3rd quarter. Maryland State Retirement & Pension System now owns 34,128 shares of the medical research company’s stock worth $2,946,000 after acquiring an additional 2,896 shares in the last quarter. Ritholtz Wealth Management increased its position in Edwards Lifesciences by 91.6% during the 3rd quarter. Ritholtz Wealth Management now owns 15,148 shares of the medical research company’s stock valued at $1,308,000 after purchasing an additional 7,241 shares during the period. Jacobi Capital Management LLC bought a new stake in shares of Edwards Lifesciences in the 3rd quarter valued at about $32,000. Jefferies Financial Group Inc. raised its holdings in shares of Edwards Lifesciences by 649.1% in the 3rd quarter. Jefferies Financial Group Inc. now owns 296,800 shares of the medical research company’s stock valued at $25,620,000 after purchasing an additional 257,180 shares in the last quarter. Finally, First Command Advisory Services Inc. raised its holdings in shares of Edwards Lifesciences by 261.5% in the 3rd quarter. First Command Advisory Services Inc. now owns 2,686 shares of the medical research company’s stock valued at $232,000 after purchasing an additional 1,943 shares in the last quarter. Institutional investors own 79.46% of the company’s stock.

Edwards Lifesciences News Summary

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

• Positive Sentiment: Edwards beat Q3 estimates, reporting adjusted EPS of $0.80 versus $0.74 expected and revenue of $1.72 billion, up about 11% year over year. It raised its full-year sales outlook and set adjusted EPS guidance of $2.97–$3.05. TAVR sales grew 8.8%, while transcatheter mitral and tricuspid therapies (TMTT) grew 45.6%, supporting the growth outlook. Q3 earnings and outlook
• Positive Sentiment: New PROGRESS Trial data found TAVR performed better than active surveillance for at-risk patients with moderate aortic stenosis, including fewer combined death or heart-failure events and better quality-of-life measures. The findings could support broader future use, though they do not by themselves establish a change in treatment or reimbursement. PROGRESS Trial data
• Positive Sentiment: Analysts responded favorably to the results: UBS raised its target to $118 and JPMorgan to $120, while other firms also increased targets and several upgraded the shares. The revisions signal improved expectations, but are analyst opinions rather than guaranteed returns. UBS price-target increase JPMorgan price-target increase
• Negative Sentiment: Edwards’ CEO acknowledged that more competition is coming in TAVR, a potential challenge to market share and growth. CEO comments on 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.