Edwards Lifesciences Corp. (EW) Given a $140.00 Price Target by Canaccord Genuity Analysts
Canaccord Genuity set a $140.00 price objective on Edwards Lifesciences Corp. (NYSE:EW) in a research note released on Monday morning. The brokerage currently has a buy rating on the medical research company’s stock.
A number of other research firms also recently commented on EW. Zacks Investment Research upgraded Edwards Lifesciences Corp. from a hold rating to a buy rating and set a $128.00 target price on the stock in a research report on Tuesday, August 16th. Jefferies Group restated a buy rating and issued a $115.00 target price (down previously from $125.00) on shares of Edwards Lifesciences Corp. in a research report on Wednesday, October 26th. Evercore ISI reiterated a hold rating and issued a $115.00 price objective on shares of Edwards Lifesciences Corp. in a report on Friday, August 19th. Stifel Nicolaus cut their price objective on Edwards Lifesciences Corp. from $122.00 to $114.00 and set a buy rating on the stock in a report on Wednesday, October 26th. Finally, RBC Capital Markets reiterated an outperform rating and issued a $123.00 price objective (down previously from $130.00) on shares of Edwards Lifesciences Corp. in a report on Wednesday, October 26th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and twenty-two have given a buy rating to the stock. Edwards Lifesciences Corp. presently has an average rating of Buy and a consensus target price of $117.68.
Edwards Lifesciences Corp. (NYSE:EW) traded up 0.34% during trading on Monday, hitting $84.59. The stock had a trading volume of 1,587,261 shares. The firm has a 50 day moving average of $99.49 and a 200-day moving average of $106.55. The company has a market cap of $18.09 billion, a P/E ratio of 33.43 and a beta of 0.71. Edwards Lifesciences Corp. has a one year low of $72.20 and a one year high of $121.75.
Edwards Lifesciences Corp. (NYSE:EW) last posted its earnings results on Tuesday, October 25th. The medical research company reported $0.68 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.68. Edwards Lifesciences Corp. had a return on equity of 24.32% and a net margin of 19.24%. The company had revenue of $739.40 million for the quarter, compared to the consensus estimate of $749.14 million. During the same quarter in the previous year, the business earned $0.54 earnings per share. The company’s revenue for the quarter was up 20.1% on a year-over-year basis. Equities analysts anticipate that Edwards Lifesciences Corp. will post $2.88 earnings per share for the current fiscal year.
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In other Edwards Lifesciences Corp. news, VP Huimin Wang sold 13,650 shares of the stock in a transaction on Wednesday, October 5th. The stock was sold at an average price of $120.04, for a total transaction of $1,638,546.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Donald E. Bobo, Jr. sold 18,000 shares of the stock in a transaction on Friday, September 2nd. The shares were sold at an average price of $115.78, for a total value of $2,084,040.00. The disclosure for this sale can be found here. Company insiders own 2.37% of the company’s stock.
A number of large investors have recently made changes to their positions in the stock. Nelson Van Denburg & Campbell Wealth Management Group LLC bought a new stake in shares of Edwards Lifesciences Corp. during the second quarter worth approximately $100,000. Spirit of America Management Corp NY bought a new stake in shares of Edwards Lifesciences Corp. during the third quarter worth approximately $121,000. TCI Wealth Advisors Inc. boosted its stake in shares of Edwards Lifesciences Corp. by 30.5% in the third quarter. TCI Wealth Advisors Inc. now owns 1,044 shares of the medical research company’s stock worth $126,000 after buying an additional 244 shares during the period. Cornerstone Advisors Inc. boosted its stake in shares of Edwards Lifesciences Corp. by 28.9% in the third quarter. Cornerstone Advisors Inc. now owns 1,075 shares of the medical research company’s stock worth $130,000 after buying an additional 241 shares during the period. Finally, Quadrant Capital Group LLC boosted its stake in shares of Edwards Lifesciences Corp. by 2.3% in the second quarter. Quadrant Capital Group LLC now owns 1,108 shares of the medical research company’s stock worth $106,000 after buying an additional 25 shares during the period. Hedge funds and other institutional investors own 83.08% of the company’s stock.
Edwards Lifesciences Corp. Company Profile
Edwards Lifesciences Corporation is focused on technologies that treat structural heart disease and critically ill patients. The Company manufactures heart valve systems and repair products used to replace or repair a patient’s diseased or defective heart valve. It develops hemodynamic monitoring systems used to measure a patient’s cardiovascular function in the hospital setting.
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