Edwards Lifesciences (NYSE:EW) had its target price raised by research analysts at Morgan Stanley from $197.00 to $210.00 in a research report issued to clients and investors on Tuesday, BenzingaRatingsTable reports. The brokerage presently has an “overweight” rating on the medical research company’s stock. Morgan Stanley’s target price suggests a potential upside of 10.67% from the company’s previous close.
Other equities analysts also recently issued research reports about the company. Credit Suisse Group boosted their target price on JPMorgan Chase & Co. from $128.00 to $132.00 and gave the stock an “outperform” rating in a research note on Monday, April 15th. Zacks Investment Research downgraded CGI from a “buy” rating to a “hold” rating in a research note on Wednesday, June 19th. BMO Capital Markets boosted their target price on Alimentation Couche-Tard from C$79.00 to C$84.00 and gave the stock an “outperform” rating in a research note on Friday, March 22nd. Stifel Nicolaus downgraded Owens Corning from a “buy” rating to a “hold” rating and set a $52.45 price objective on the stock. in a research note on Wednesday, April 24th. Finally, Barclays reiterated a “sell” rating on shares of Deutsche Bank in a research note on Monday, March 25th. Two analysts have rated the stock with a sell rating, six have given a hold rating and fourteen have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $188.75.
EW stock opened at $189.76 on Tuesday. The firm has a market cap of $39.10 billion, a P/E ratio of 39.07, a P/E/G ratio of 2.40 and a beta of 0.85. The company has a debt-to-equity ratio of 0.19, a current ratio of 3.66 and a quick ratio of 2.69. Edwards Lifesciences has a 52-week low of $134.53 and a 52-week high of $197.86. The company’s 50-day moving average is $185.01.
Edwards Lifesciences (NYSE:EW) last released its quarterly earnings results on Tuesday, April 23rd. The medical research company reported $1.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.23 by $0.09. The business had revenue of $993.00 million during the quarter, compared to the consensus estimate of $989.87 million. Edwards Lifesciences had a return on equity of 31.16% and a net margin of 20.03%. The company’s quarterly revenue was up 11.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.22 EPS. Equities research analysts expect that Edwards Lifesciences will post 5.29 earnings per share for the current year.
In other Edwards Lifesciences news, VP Catherine M. Szyman sold 1,152 shares of the business’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $191.70, for a total transaction of $220,838.40. Following the sale, the vice president now owns 19,162 shares of the company’s stock, valued at approximately $3,673,355.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Robert W.A. Sellers sold 821 shares of the business’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $175.36, for a total transaction of $143,970.56. Following the sale, the vice president now directly owns 14,176 shares in the company, valued at approximately $2,485,903.36. The disclosure for this sale can be found here. Insiders have sold a total of 163,895 shares of company stock worth $29,555,839 in the last three months. Insiders own 1.63% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. Pinnacle Bank bought a new position in shares of Edwards Lifesciences in the fourth quarter worth $65,000. Mackay Shields LLC grew its position in Edwards Lifesciences by 58.8% in the fourth quarter. Mackay Shields LLC now owns 53,020 shares of the medical research company’s stock worth $8,121,000 after acquiring an additional 19,624 shares in the last quarter. Cetera Advisor Networks LLC grew its position in Edwards Lifesciences by 3.8% in the fourth quarter. Cetera Advisor Networks LLC now owns 1,573 shares of the medical research company’s stock worth $242,000 after acquiring an additional 57 shares in the last quarter. Mercer Global Advisors Inc. ADV purchased a new position in Edwards Lifesciences in the first quarter worth $843,000. Finally, National Pension Service grew its position in Edwards Lifesciences by 5.4% in the fourth quarter. National Pension Service now owns 226,191 shares of the medical research company’s stock worth $39,837,000 after acquiring an additional 11,615 shares in the last quarter. 81.99% of the stock is currently owned by hedge funds and other institutional investors.
Edwards Lifesciences Company Profile
Edwards Lifesciences Corporation provides products and technologies for structural heart disease and critical care monitoring in the United States and internationally. It offers transcatheter heart valve therapy products comprising transcatheter aortic valve replacement, and transcatheter mitral and tricuspid therapies for the nonsurgical replacement of heart valves.
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