Edwards Lifesciences Corp. (NYSE:EW)‘s stock had its “buy” rating restated by research analysts at Citigroup Inc. in a report released on Tuesday, AnalystRatingsNetwork reports. They currently have a $72.00 target price on the stock, down from their previous target price of $75.00. Citigroup Inc.’s price target points to a potential upside of 14.78% from the stock’s previous close.
The analysts wrote, “On Monday (12/09/13), Edwards held its annual investor meeting in New York, NY where it issued initial 2014 guidance (and high level thoughts on 2015), updates on the general business dynamics and growth drivers within each segment and updates on clinical trial and pipeline activities including its mitral program. While 2014 was below expectations due to increased competitive pressure US/EU, mgmt. believes the long-term opportunity remains unchanged.”
In other Edwards Lifesciences Corp. news, VP Huimin Wang sold 4,650 shares of the stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $64.65, for a total value of $300,622.50. Following the sale, the vice president now directly owns 31,337 shares of the company’s stock, valued at approximately $2,025,937. The sale was disclosed in a legal filing with the SEC, which is available at this link.
Several other analysts have also recently commented on the stock. Analysts at Canaccord Genuity reiterated a “buy” rating on shares of Edwards Lifesciences Corp. in a research note to investors on Tuesday. They now have a $74.00 price target on the stock, down previously from $76.00. Separately, analysts at Wells Fargo & Co. downgraded shares of Edwards Lifesciences Corp. from an “outperform” rating to a “market perform” rating in a research note to investors on Tuesday. Finally, analysts at CRT Capital initiated coverage on shares of Edwards Lifesciences Corp. in a research note to investors on Tuesday, November 26th. They set a “fair value” rating and a $72.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and eleven have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $74.12.
Edwards Lifesciences Corp. (NYSE:EW) traded down 0.33% during mid-day trading on Tuesday, hitting $62.52. 1,074,328 shares of the company’s stock traded hands. Edwards Lifesciences Corp. has a one year low of $61.91 and a one year high of $94.98. The stock has a 50-day moving average of $66.67 and a 200-day moving average of $69.15. The company has a market cap of $6.840 billion and a price-to-earnings ratio of 17.84. Edwards Lifesciences Corp. also was the recipient of unusually large options trading on Monday. Stock investors purchased 9,271 put options on the stock. This is an increase of approximately 544% compared to the typical volume of 1,439 put options.
Edwards Lifesciences Corp. (NYSE:EW) last announced its earnings results on Monday, October 28th. The company reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.02. The company had revenue of $496.00 million for the quarter, compared to the consensus estimate of $490.96 million. During the same quarter in the previous year, the company posted $0.58 earnings per share. The company’s revenue for the quarter was up 10.6% on a year-over-year basis. Analysts expect that Edwards Lifesciences Corp. will post $3.05 EPS for the current fiscal year.
Edwards Lifesciences Corporation (NYSE:EW) is focused on technologies that treat structural heart disease and critically ill patients.
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