Edwards Lifesciences’ (EW) Overweight Rating Reaffirmed at Piper Sandler

Piper Sandler reissued their overweight rating on shares of Edwards Lifesciences (NYSE:EW) in a report published on Thursday morning,Benzinga reports. Piper Sandler currently has a $115.00 target price on the medical research company’s stock, up from their previous target price of $101.00.

Other analysts have also recently issued research reports about the stock. Barclays upgraded shares of Edwards Lifesciences to a “strong-buy” rating in a research report on Wednesday, October 7th. Mizuho set a $120.00 target price on shares of Edwards Lifesciences in a research report on Thursday. Raymond James Financial increased their target price on Edwards Lifesciences from $100.00 to $103.00 and gave the company an “outperform” rating in a research note on Friday, July 24th. Truist Financial set a $113.00 price target on Edwards Lifesciences and gave the stock a “buy” rating in a research note on Wednesday. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Edwards Lifesciences in a report on Thursday, October 15th. Twenty-three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $108.88.

Edwards Lifesciences Stock Up 1.3%

EW stock opened at $100.70 on Thursday. The company has a current ratio of 4.52, a quick ratio of 3.77 and a debt-to-equity ratio of 0.06. The company’s 50 day moving average is $88.68 and its 200 day moving average is $85.69. The stock has a market cap of $57.99 billion, a price-to-earnings ratio of 56.90, a price-to-earnings-growth ratio of 2.60 and a beta of 0.85. 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, beating analysts’ consensus estimates of $0.74 by $0.06. Edwards Lifesciences had a net margin of 15.30% and a return on equity of 16.25%. The business had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.68 billion. During the same period last year, the firm posted $0.67 earnings per share. Edwards Lifesciences’s quarterly revenue was up 10.5% on a year-over-year basis. Sell-side analysts predict that Edwards Lifesciences will post 3.00 EPS for the current fiscal year.

Insiders Place Their Bets

In other Edwards Lifesciences news, VP Daniel Lippis sold 619 shares of the business’s stock in a transaction that occurred on Tuesday, August 11th. The stock was 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 approximately $3,684,329.02. The trade was a 1.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Andrew M. Dahl sold 544 shares of the stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $91.06, for a total value of $49,536.64. Following the sale, the senior vice president directly 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. Insiders have sold 5,045 shares of company stock valued at $451,596 in the last ninety days. Company insiders own 0.31% of the company’s stock.

Hedge Funds Weigh In On Edwards Lifesciences

Hedge funds have recently modified their holdings of the company. BlackRock Inc. bought a new stake in Edwards Lifesciences during the 2nd quarter valued at approximately $5,318,092,000. Varma Mutual Pension Insurance Co purchased a new position in shares of Edwards Lifesciences during the 2nd quarter worth approximately $11,168,000. Conway Capital Management Inc. bought a new position in shares of Edwards Lifesciences in the 2nd quarter worth approximately $954,000. Commerce Bank bought a new position in shares of Edwards Lifesciences in the 2nd quarter worth approximately $3,121,000. Finally, Assenagon Asset Management S.A. lifted its stake in shares of Edwards Lifesciences by 50.0% in the 3rd quarter. Assenagon Asset Management S.A. now owns 2,719,271 shares of the medical research company’s stock valued at $234,727,000 after purchasing an additional 906,345 shares during the period. Hedge funds and other institutional investors own 79.46% of the company’s stock.

Trending Headlines about Edwards Lifesciences

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.