Edwards Lifesciences (NYSE:EW) Stock Price Expected to Rise, UBS Group Analyst Says

Edwards Lifesciences (NYSE:EW) had its target price upped by analysts at UBS Group from $110.00 to $118.00 in a research report issued on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the medical research company’s stock. UBS Group‘s target price suggests a potential upside of 15.79% from the stock’s previous close.

A number of other analysts have also weighed in on the stock. Argus upped their price target on shares of Edwards Lifesciences from $105.00 to $115.00 and gave the stock a “buy” rating in a research note on Friday, August 21st. Evercore reaffirmed an “outperform” rating on shares of Edwards Lifesciences in a research note on Friday, October 23rd. Wall Street Zen cut Edwards Lifesciences from a “buy” rating to a “hold” rating in a report on Saturday, October 31st. BTIG Research upped their price objective on shares of Edwards Lifesciences from $110.00 to $115.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Robert W. Baird upgraded shares of Edwards Lifesciences from a “neutral” rating to an “outperform” rating and set a $116.00 target price for the company 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 stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $108.88.

Edwards Lifesciences Stock Performance

EW stock 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. Edwards Lifesciences has a 52 week low of $74.66 and a 52 week high of $104.17. 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 company has a market capitalization of $58.68 billion, a P/E ratio of 57.58, a price-to-earnings-growth ratio of 2.44 and a beta of 0.85. The firm has a fifty day moving average of $88.92 and a two-hundred day moving average of $85.78.

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

Insider Activity at Edwards Lifesciences

In other Edwards Lifesciences news, VP Annette Brüls sold 2,644 shares of the stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $89.98, for a total value of $237,907.12. Following the transaction, the vice president owned 17,984 shares of the company’s stock, valued at approximately $1,618,200.32. This represents a 12.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Andrew M. Dahl sold 544 shares of the firm’s 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 trade represents a 3.53% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 5,045 shares of company stock worth $451,596 over the last 90 days. Insiders own 0.31% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in EW. BlackRock Inc. acquired a new stake in shares of Edwards Lifesciences in the second quarter valued at approximately $5,318,092,000. Varma Mutual Pension Insurance Co acquired a new stake in Edwards Lifesciences in the 2nd quarter valued at $11,168,000. Conway Capital Management Inc. bought a new stake in Edwards Lifesciences during the 2nd quarter worth about $954,000. Commerce Bank acquired a new position in shares of Edwards Lifesciences during the 2nd quarter worth about $3,121,000. Finally, Assenagon Asset Management S.A. grew its holdings 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 acquiring an additional 906,345 shares in the last quarter. 79.46% of the stock is owned by institutional investors and hedge funds.

More 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.