Leerink Partners Forecasts Strong Price Appreciation for Edwards Lifesciences (NYSE:EW) Stock

Edwards Lifesciences (NYSE:EW) had its target price raised by analysts at Leerink Partners from $101.00 to $112.00 in a research report issued on Thursday, Benzinga reports. The brokerage presently has an “outperform” rating on the medical research company’s stock. Leerink Partners‘s target price would suggest a potential upside of 9.90% from the company’s current price.

Other analysts have also issued reports about the company. Weiss Ratings reissued a “hold (c)” rating on shares of Edwards Lifesciences in a report on Thursday, October 15th. UBS Group reiterated a “buy” rating and issued a $110.00 price target (up from $90.00) on shares of Edwards Lifesciences in a report on Thursday, October 8th. Wall Street Zen cut Edwards Lifesciences from a “buy” rating to a “hold” rating in a research note on Saturday, October 31st. Wells Fargo & Company restated an “overweight” rating and set a $113.00 price objective (up from $100.00) on shares of Edwards Lifesciences in a research note on Thursday. Finally, Barclays lifted their price objective on shares of Edwards Lifesciences from $110.00 to $120.00 and gave the stock an “overweight” rating in a report on Thursday. Twenty-three equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, Edwards Lifesciences currently has an average rating of “Moderate Buy” and a consensus price target of $108.88.

Edwards Lifesciences Stock Up 1.1%

EW traded up $1.09 during trading on Thursday, hitting $101.91. The company had a trading volume of 5,112,546 shares, compared to its average volume of 4,098,582. The company has a market cap of $58.68 billion, a PE ratio of 57.58, a P/E/G ratio of 2.44 and a beta of 0.85. The business has a 50-day moving average of $88.92 and a 200-day moving average of $85.78. The company has a debt-to-equity ratio of 0.06, a current ratio of 4.52 and a quick ratio of 3.77. 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 quarterly earnings data 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. The company had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.68 billion. Edwards Lifesciences had a net margin of 15.43% and a return on equity of 15.68%. The firm’s revenue for the quarter was up 10.5% compared to the same quarter last year. During the same period last year, the business earned $0.67 EPS. As a group, analysts forecast that Edwards Lifesciences will post 3.01 earnings per share for the current year.

Insider Buying and Selling at Edwards Lifesciences

In other Edwards Lifesciences news, SVP Andrew M. Dahl sold 544 shares of the stock in a transaction 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 sale, the senior vice president directly owned 14,868 shares of the company’s stock, valued at $1,353,880.08. This trade represents a 3.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Daniel J. Lippis sold 619 shares of the firm’s stock in a transaction on Tuesday, August 11th. The shares were 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 $3,684,329.02. The trade was a 1.52% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 5,045 shares of company stock worth $451,596 over the last ninety days. Company insiders own 0.31% of the company’s stock.

Institutional Trading of Edwards Lifesciences

A number of large investors have recently modified their holdings of EW. Cornerstone Advisors LLC acquired a new position in Edwards Lifesciences during the 3rd quarter valued at about $9,240,000. Aberdeen Group plc grew its position in Edwards Lifesciences by 49.9% in the 3rd quarter. Aberdeen Group plc now owns 745,667 shares of the medical research company’s stock worth $64,366,000 after purchasing an additional 248,305 shares during the last quarter. Valmark Advisers Inc. increased its stake in shares of Edwards Lifesciences by 22.5% in the third quarter. Valmark Advisers Inc. now owns 7,655 shares of the medical research company’s stock valued at $661,000 after purchasing an additional 1,407 shares during the period. Allworth Financial LP increased its stake in shares of Edwards Lifesciences by 140.9% in the third quarter. Allworth Financial LP now owns 39,993 shares of the medical research company’s stock valued at $3,618,000 after purchasing an additional 23,393 shares during the period. Finally, Legacy Trust increased its stake in shares of Edwards Lifesciences by 1.4% in the third quarter. Legacy Trust now owns 7,409 shares of the medical research company’s stock valued at $682,000 after purchasing an additional 104 shares during the period. Institutional investors and hedge funds own 79.46% of the company’s stock.

Key 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

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.