Edwards Lifesciences (NYSE:EW) Stock Gets Price Target Bump from JPMorgan Chase & Co.

Edwards Lifesciences (NYSE:EW) had its target price upped by research analysts at JPMorgan Chase & Co. from $105.00 to $120.00 in a research note issued on Thursday, Benzinga reports. The firm presently has an “overweight” rating on the medical research company’s stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 17.75% from the stock’s previous close.

Several other brokerages have also recently issued reports on EW. TD Cowen restated a “buy” rating on shares of Edwards Lifesciences in a report on Tuesday, October 27th. Deutsche Bank Aktiengesellschaft set a $104.00 price target on shares of Edwards Lifesciences in a research note on Tuesday, October 27th. Royal Bank Of Canada boosted their price target on shares of Edwards Lifesciences from $110.00 to $115.00 and gave the company an “outperform” rating in a research report on Thursday. Rothschild & Co Redburn upped their price objective on shares of Edwards Lifesciences from $99.00 to $102.00 and gave the company a “buy” rating in a research note on Monday, July 27th. Finally, Jefferies Financial Group upped their price objective on shares of Edwards Lifesciences from $102.00 to $105.00 and gave the company a “buy” rating in a research note on Friday, July 24th. Twenty-three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $108.88.

Edwards Lifesciences Stock Up 1.1%

EW traded up $1.09 on Thursday, reaching $101.91. The company’s stock had a trading volume of 5,112,546 shares, compared to its average volume of 4,098,582. The stock has a 50 day moving average of $88.92 and a two-hundred day moving average of $85.78. The company has a quick ratio of 3.77, a current ratio of 4.52 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $58.68 billion, a price-to-earnings ratio of 57.58, a P/E/G ratio of 2.44 and a beta of 0.85. Edwards Lifesciences has a fifty-two week low of $74.66 and a fifty-two week high of $104.17.

Edwards Lifesciences (NYSE:EW) last announced its quarterly earnings results on Wednesday, November 4th. The medical research company reported $0.80 EPS for the quarter, beating the consensus estimate of $0.74 by $0.06. Edwards Lifesciences had a net margin of 15.43% and a return on equity of 15.68%. The company had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.68 billion. During the same period in the prior year, the firm posted $0.67 earnings per share. The firm’s revenue was up 10.5% on a year-over-year basis. As a group, analysts forecast that Edwards Lifesciences will post 3.01 EPS for the current fiscal year.

Insider Transactions at Edwards Lifesciences

In related news, VP Daniel Lippis sold 619 shares of the company’s stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $92.03, for a total value of $56,966.57. Following the completion of the sale, the vice president owned 40,034 shares in the company, valued at $3,684,329.02. This represents a 1.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Andrew M. Dahl sold 544 shares of the company’s stock in a transaction on Monday, August 31st. The shares were sold at an average price of $91.06, for a total transaction of $49,536.64. Following the completion of the sale, the senior vice president owned 14,868 shares of the company’s stock, valued at approximately $1,353,880.08. This trade represents a 3.53% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 5,045 shares of company stock worth $451,596. Insiders own 0.31% of the company’s stock.

Institutional Investors Weigh In On Edwards Lifesciences

A number of hedge funds have recently added to or reduced their stakes in the company. Cornerstone Advisors LLC acquired a new stake in shares of Edwards Lifesciences in the 3rd quarter valued at approximately $9,240,000. Aberdeen Group plc boosted its stake in shares of Edwards Lifesciences by 49.9% in the third quarter. Aberdeen Group plc now owns 745,667 shares of the medical research company’s stock valued at $64,366,000 after buying an additional 248,305 shares in the last quarter. Valmark Advisers Inc. boosted its stake in shares of Edwards Lifesciences by 22.5% in the third quarter. Valmark Advisers Inc. now owns 7,655 shares of the medical research company’s stock valued at $661,000 after buying an additional 1,407 shares in the last quarter. Allworth Financial LP grew its holdings in Edwards Lifesciences by 140.9% during the third quarter. Allworth Financial LP now owns 39,993 shares of the medical research company’s stock worth $3,618,000 after acquiring an additional 23,393 shares during the period. Finally, Legacy Trust grew its holdings in Edwards Lifesciences by 1.4% during the third quarter. Legacy Trust now owns 7,409 shares of the medical research company’s stock worth $682,000 after acquiring an additional 104 shares during the period. Institutional investors and hedge funds own 79.46% of the company’s stock.

Key Edwards Lifesciences News

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

• Positive Sentiment: Edwards reported Q3 sales growth of 11.2% to $1.72 billion, with adjusted earnings and revenue beating estimates. TMTT sales rose 45.6% and TAVR sales grew 8.8%; the company raised its sales outlook and set adjusted full-year EPS guidance of $2.97–$3.05. Edwards Q3 earnings call highlights
• Positive Sentiment: PROGRESS Trial results found TAVR outperformed active surveillance for at-risk patients with moderate aortic stenosis, including fewer combined death or heart-failure outcomes. The findings could support earlier use of the procedure and expand Edwards’ potential market. Trial data points to earlier TAVR use
• Positive Sentiment: Analysts lifted price targets following the results: UBS raised its target to $118 and JPMorgan to $120, while Piper Sandler reaffirmed its buy-equivalent rating with a $115 target. The latest target increases and reaffirmations add to bullish sentiment. UBS reaffirms buy rating Piper Sandler keeps buy rating
• Negative Sentiment: Management has acknowledged that more competition is coming in TAVR, a potential pressure on market share and future growth, although the recent results and trial data provide positive offsets. CEO comments on TAVR competition

About Edwards Lifesciences

Edwards Lifesciences is a medical technology company focused on therapies for structural heart disease and critical care. Its products include transcatheter and surgical heart valves, as well as technologies used to monitor patients during intensive care and surgery.

The company traces its origins to 1958, when engineer Lowell Edwards and surgeon Albert Starr began developing an artificial heart valve. Their work led to the Starr-Edwards valve, introduced in 1960. Edwards Lifesciences is headquartered in Irvine, California, and serves clinicians and patients around the world.

Its structural heart portfolio includes transcatheter aortic valve replacement (TAVR) systems and therapies addressing mitral and tricuspid valve disease.