Edwards Lifesciences (NYSE:EW) Stock Gets Price Target Increase from Citigroup

Edwards Lifesciences (NYSE:EW) had its price target upped by investment analysts at Citigroup from $110.00 to $117.00 in a note issued to investors on Thursday, Benzinga reports. The firm currently has a “buy” rating on the medical research company’s stock. Citigroup‘s price target would indicate a potential upside of 16.18% from the company’s current price.

EW has been the subject of a number of other reports. Argus upped their target price on Edwards Lifesciences from $105.00 to $115.00 and gave the company a “buy” rating in a research report on Friday, August 21st. Weiss Ratings restated a “hold (c)” rating on shares of Edwards Lifesciences in a research report on Thursday, October 15th. Jefferies Financial Group raised their price target on Edwards Lifesciences from $102.00 to $105.00 and gave the stock a “buy” rating in a research report on Friday, July 24th. Deutsche Bank Aktiengesellschaft set a $104.00 price target on Edwards Lifesciences in a research note on Tuesday, October 27th. Finally, Truist Financial set a $113.00 price objective on shares of Edwards Lifesciences and gave the stock a “buy” rating in a research report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $107.16.

Edwards Lifesciences Price Performance

Shares of EW stock traded up $1.33 during trading on Thursday, hitting $100.70. The company had a trading volume of 9,153,898 shares, compared to its average volume of 4,523,223. The company has a debt-to-equity ratio of 0.06, a quick ratio of 3.77 and a current ratio of 4.52. The firm has a market capitalization of $57.99 billion, a P/E ratio of 57.88, a price-to-earnings-growth ratio of 2.49 and a beta of 0.85. The stock’s 50-day moving average price is $88.48 and its 200 day moving average price is $85.61. Edwards Lifesciences has a one year low of $74.66 and a one year high of $104.17.

Edwards Lifesciences (NYSE:EW) last issued 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. Edwards Lifesciences had a return on equity of 15.68% and a net margin of 15.43%. The business had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.68 billion. During the same quarter in the prior year, the business posted $0.67 earnings per share. The firm’s quarterly revenue was up 10.5% compared to the same quarter last year. Equities analysts expect that Edwards Lifesciences will post 3.00 EPS for the current fiscal year.

Insider Buying and Selling at Edwards Lifesciences

In other Edwards Lifesciences news, VP Annette Brüls sold 2,644 shares of Edwards Lifesciences 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 in the company, valued at $1,618,200.32. The trade was a 12.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Daniel Lippis sold 619 shares of the business’s stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $92.03, for a total value of $56,966.57. Following the transaction, the vice president directly owned 40,034 shares of the company’s stock, valued at approximately $3,684,329.02. The trade was a 1.52% decrease in their position. 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 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.

Hedge Funds Weigh In On Edwards Lifesciences

A number of institutional investors have recently added to or reduced their stakes in EW. BlackRock Inc. bought a new stake in shares of Edwards Lifesciences during the second quarter worth $5,318,092,000. Bank of New York Mellon Corp acquired a new position in shares of Edwards Lifesciences during the second quarter worth $1,274,082,000. Bank of America Corp DE bought a new position in shares of Edwards Lifesciences in the 2nd quarter valued at $605,397,000. Deutsche Bank AG bought a new position in shares of Edwards Lifesciences in the 2nd quarter valued at $516,552,000. Finally, Legal & General Group Plc bought a new position in shares of Edwards Lifesciences in the 2nd quarter valued at $389,089,000. 79.46% of the stock is currently owned by institutional investors and hedge funds.

Edwards Lifesciences News Summary

Here are the key news stories impacting Edwards Lifesciences this week:

• Positive Sentiment: Edwards reported third-quarter adjusted EPS of $0.80, above the $0.74 consensus, and revenue of $1.72 billion, ahead of estimates and up 11.2% year over year. Strong structural-heart sales helped lift results. Edwards Lifesciences third-quarter results
• Positive Sentiment: The company raised its full-year adjusted EPS outlook to $2.97–$3.05. TMTT sales grew 45.6% and TAVR sales increased 8.8%, reinforcing growth across its heart-valve and repair businesses. Q3 earnings call highlights
• Positive Sentiment: PROGRESS Trial results found TAVR performed better than active surveillance for at-risk patients with moderate aortic stenosis, including fewer combined death or heart-failure outcomes and hospitalizations, plus improved quality-of-life measures. The findings may support earlier use of the procedure. PROGRESS Trial data
• Positive Sentiment: Analysts raised targets following the results: Barclays to $120, JPMorgan to $120, RBC to $115, and Leerink Partners to $112. Baird upgraded EW to outperform, while Truist moved to strong buy, signaling improved sentiment about the outlook. Analyst reaction and market coverage
• Negative Sentiment: Edwards’ CEO said more competition is coming in TAVR. Greater competitive pressure could weigh on market share or pricing, tempering the otherwise favorable growth and trial news. CEO comments on TAVR competition

About Edwards Lifesciences

Edwards Lifesciences Corporation (NYSE:EW) is a medical technology company focused on therapies for structural heart disease and critical care. The company develops and manufactures products designed to treat conditions affecting the heart’s valves, including aortic, mitral and tricuspid valve disorders.

Its portfolio includes transcatheter aortic valve replacement systems, transcatheter mitral and tricuspid therapies, surgical heart valves and valve-repair technologies. Edwards also provides related delivery systems and other medical devices used by physicians in minimally invasive and open-heart procedures.

Founded in 1958 by Miles Lowell Edwards, the company is headquartered in Irvine, California, and serves healthcare providers and patients internationally.