Edwards Lifesciences (NYSE:EW) Stock Gets Price Target Bump from Royal Bank Of Canada

Edwards Lifesciences (NYSE:EW) had its target price lifted by Royal Bank Of Canada from $110.00 to $115.00 in a report released on Thursday, Benzinga reports. The brokerage currently has an “outperform” rating on the medical research company’s stock. Royal Bank Of Canada‘s price objective suggests a potential upside of 12.85% from the stock’s previous close.

Other analysts have also recently issued reports about the company. Evercore reiterated an “outperform” rating on shares of Edwards Lifesciences in a research note on Friday, October 23rd. Sanford C. Bernstein boosted their price objective on Edwards Lifesciences from $99.00 to $106.00 and gave the stock a “market perform” rating in a research report on Thursday. Leerink Partners upgraded shares of Edwards Lifesciences from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $87.00 to $101.00 in a research note on Friday, July 24th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Edwards Lifesciences in a report on Thursday, October 15th. Finally, Wells Fargo & Company reaffirmed an “overweight” rating and issued a $113.00 target price (up from $100.00) on shares of Edwards Lifesciences in a report on Thursday. Twenty-three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $108.88.

Edwards Lifesciences Stock Up 1.1%

Shares of NYSE EW traded up $1.09 during midday trading on Thursday, hitting $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 company has a debt-to-equity ratio of 0.06, a current ratio of 4.52 and a quick ratio of 3.77. The firm has a market capitalization of $58.68 billion, a price-to-earnings ratio of 57.58, a price-to-earnings-growth ratio of 2.44 and a beta of 0.85. The business’s fifty day simple moving average is $88.92 and its two-hundred day simple moving average is $85.78. Edwards Lifesciences has a 1 year low of $74.66 and a 1 year high of $104.17.

Edwards Lifesciences (NYSE:EW) last announced its earnings results on Wednesday, November 4th. The medical research company reported $0.80 earnings per share for the quarter, topping 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 firm had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.68 billion. During the same period in the prior year, the firm earned $0.67 EPS. The firm’s revenue for the quarter was up 10.5% on a year-over-year basis. On average, equities analysts predict that Edwards Lifesciences will post 3.01 EPS for the current year.

Insider Buying and Selling at Edwards Lifesciences

In other news, SVP Andrew M. Dahl sold 544 shares of the stock in a transaction dated Monday, August 31st. The stock was sold at an average price of $91.06, for a total value of $49,536.64. Following the transaction, the senior vice president owned 14,868 shares in the company, valued at approximately $1,353,880.08. This represents a 3.53% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Daniel J. Lippis sold 619 shares of the stock in a transaction dated Thursday, October 8th. The shares were sold at an average price of $85.65, for a total value of $53,017.35. Following the completion of the transaction, the vice president owned 40,034 shares in the company, valued at approximately $3,428,912.10. The trade was a 1.52% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 5,045 shares of company stock worth $451,596 over the last ninety days. Corporate insiders own 0.31% of the company’s stock.

Hedge Funds Weigh In On Edwards Lifesciences

Hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new stake in Edwards Lifesciences during the second quarter worth approximately $5,318,092,000. Bank of New York Mellon Corp purchased a new stake in shares of Edwards Lifesciences during the 2nd quarter worth approximately $1,274,082,000. Bank of America Corp DE acquired a new position in shares of Edwards Lifesciences in the 2nd quarter valued at $605,397,000. Deutsche Bank AG acquired a new position in shares of Edwards Lifesciences in the 2nd quarter valued at $516,552,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Edwards Lifesciences by 0.6% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,488,643 shares of the medical research company’s stock valued at $496,503,000 after buying an additional 30,495 shares in the last quarter. 79.46% of the stock is currently owned by hedge funds and other institutional investors.

Edwards Lifesciences News Roundup

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

Edwards Lifesciences Company Profile

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.