Edwards Lifesciences (NYSE:EW) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Edwards Lifesciences (NYSE:EW) from a hold rating to a buy rating in a report published on Sunday,Wall Street Zen reports.

A number of other analysts have also commented on the company. Leerink Partners lifted their target price on Edwards Lifesciences from $101.00 to $112.00 and gave the stock an “outperform” rating in a report on Thursday, November 5th. Royal Bank Of Canada upped their price target on Edwards Lifesciences from $110.00 to $115.00 and gave the company an “outperform” rating in a report on Thursday, November 5th. Evercore reaffirmed an “outperform” rating on shares of Edwards Lifesciences in a report on Friday, October 23rd. TD Cowen reaffirmed a “buy” rating on shares of Edwards Lifesciences in a research report on Tuesday, October 27th. Finally, Raymond James Financial lifted their price objective on Edwards Lifesciences from $100.00 to $103.00 and gave the stock an “outperform” rating in a report on Friday, July 24th. 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 data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $108.88.

Edwards Lifesciences Price Performance

Shares of EW stock opened at $103.97 on Friday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 3.86 and a current ratio of 4.60. Edwards Lifesciences has a fifty-two week low of $74.66 and a fifty-two week high of $105.37. The firm has a market cap of $59.78 billion, a P/E ratio of 35.62, a P/E/G ratio of 2.79 and a beta of 0.85. The business’s 50 day moving average price is $89.47 and its 200-day moving average price is $85.98.

Edwards Lifesciences (NYSE:EW) last announced its earnings results on Wednesday, November 4th. The medical research company reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.06. Edwards Lifesciences had a return on equity of 16.06% and a net margin of 15.30%. The company had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.68 billion. During the same quarter in the prior year, the company earned $0.67 earnings per share. The firm’s revenue for the quarter was up 10.5% on a year-over-year basis. On average, equities research analysts anticipate that Edwards Lifesciences will post 3.01 earnings per share for the current year.

Insider Activity

In other Edwards Lifesciences news, VP Daniel Lippis sold 619 shares of the firm’s stock in a transaction dated Tuesday, November 10th. The stock was sold at an average price of $104.25, for a total transaction of $64,530.75. Following the sale, the vice president directly owned 40,034 shares of the company’s stock, valued at $4,173,544.50. This trade represents a 1.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing 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 business’s stock in a transaction that occurred on Monday, August 31st. The stock was sold at an average price of $91.06, for a total value of $49,536.64. Following the completion of the transaction, the senior vice president directly owned 14,868 shares in the company, valued at approximately $1,353,880.08. This represents a 3.53% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 53,945 shares of company stock valued at $5,498,306 over the last 90 days. Company insiders own 0.31% of the company’s stock.

Hedge Funds Weigh In On Edwards Lifesciences

Several institutional investors have recently bought and sold shares of EW. RMG Wealth Management LLC bought a new stake in shares of Edwards Lifesciences in the 1st quarter worth about $26,000. Pin Oak Investment Advisors Inc. purchased a new stake in shares of Edwards Lifesciences during the 2nd quarter valued at about $26,000. GK Wealth Management LLC bought a new position in shares of Edwards Lifesciences in the 3rd quarter valued at about $26,000. TrinityBridge Ltd bought a new position in shares of Edwards Lifesciences in the 2nd quarter valued at about $27,000. Finally, Meeder Asset Management Inc. lifted its holdings in shares of Edwards Lifesciences by 175.2% in the 1st quarter. Meeder Asset Management Inc. now owns 366 shares of the medical research company’s stock valued at $29,000 after acquiring an additional 233 shares during the last quarter. Institutional investors own 79.46% of the company’s stock.

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.