TD Cowen Issues Positive Forecast for Edwards Lifesciences (NYSE:EW) Stock Price

Edwards Lifesciences (NYSE:EW) had its price target raised by TD Cowen from $117.00 to $121.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a buy rating on the medical research company’s stock.

EW has been the topic of a number of other reports. Deutsche Bank set a $104.00 price target on shares of Edwards Lifesciences in a report on Tuesday, October 27th. Raymond James Financial increased their price objective on shares of Edwards Lifesciences from $100.00 to $103.00 and gave the company an “outperform” rating in a report on Friday, July 24th. Leerink Partners increased their price objective on shares of Edwards Lifesciences from $101.00 to $112.00 and gave the company an “outperform” rating in a report on Thursday, November 5th. Royal Bank Of Canada raised their price objective on Edwards Lifesciences from $110.00 to $115.00 and gave the company an “outperform” rating in a research report on Thursday, November 5th. Finally, Weiss Ratings raised Edwards Lifesciences from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday. Twenty-three analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, Edwards Lifesciences presently has an average rating of “Moderate Buy” and a consensus price target of $109.56.

Edwards Lifesciences Stock Performance

NYSE EW opened at $105.98 on Wednesday. The company has a quick ratio of 3.86, a current ratio of 4.60 and a debt-to-equity ratio of 0.05. Edwards Lifesciences has a twelve month low of $74.66 and a twelve month high of $106.05. The business has a 50-day moving average price of $89.77 and a 200-day moving average price of $86.09. The firm has a market cap of $60.94 billion, a price-to-earnings ratio of 35.38, a price-to-earnings-growth ratio of 2.78 and a beta of 0.85.

Edwards Lifesciences (NYSE:EW) last issued its earnings results on Wednesday, November 4th. The medical research company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $1.68 billion. During the same quarter last year, the company earned $0.67 EPS. The firm’s quarterly revenue was up 10.5% on a year-over-year basis. As a group, equities research analysts predict that Edwards Lifesciences will post 3.01 EPS for the current fiscal year.

Insider Buying and Selling at Edwards Lifesciences

In other news, VP Annette Brüls sold 2,644 shares of the company’s stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $89.98, for a total transaction of $237,907.12. Following the sale, the vice president directly owned 17,984 shares in the company, valued at approximately $1,618,200.32. This represents a 12.82% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Donald E. Bobo, Jr. sold 48,900 shares of the company’s stock in a transaction dated Monday, November 9th. The shares were sold at an average price of $103.05, for a total transaction of $5,039,145.00. Following the sale, the vice president owned 22,798 shares in the company, valued at $2,349,333.90. This represents a 68.20% 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 have sold 53,945 shares of company stock worth $5,498,306 over the last three months. 0.31% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Pin Oak Investment Advisors Inc. purchased a new position in shares of Edwards Lifesciences in the 2nd quarter worth approximately $26,000. TrinityBridge Ltd bought a new position in shares of Edwards Lifesciences during the 2nd quarter valued at approximately $27,000. GK Wealth Management LLC bought a new position in shares of Edwards Lifesciences during the 3rd quarter valued at approximately $26,000. RMG Wealth Management LLC purchased a new stake in Edwards Lifesciences during the 1st quarter valued at $26,000. Finally, Compass Financial Management LLC purchased a new stake in Edwards Lifesciences during the 2nd quarter valued at $32,000. Hedge funds and other institutional investors own 79.46% of the company’s stock.

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.