JPMorgan Chase & Co. Issues Positive Forecast for Edwards Lifesciences (NYSE:EW) Stock Price

Edwards Lifesciences (NYSE:EW) had its target price upped by JPMorgan Chase & Co. from $105.00 to $120.00 in a research report report published on Thursday morning,Benzinga reports. They currently have an overweight rating on the medical research company’s stock.

Several other equities analysts also recently commented on the company. Argus lifted their price target on Edwards Lifesciences from $105.00 to $115.00 and gave the company a “buy” rating in a research note on Friday, August 21st. Robert W. Baird raised Edwards Lifesciences from a “neutral” rating to an “outperform” rating and set a $116.00 price objective for the company in a research note on Thursday. Sanford C. Bernstein raised their price objective on shares of Edwards Lifesciences from $99.00 to $106.00 and gave the company a “market perform” rating in a report on Thursday. Weiss Ratings reiterated a “hold (c)” rating on shares of Edwards Lifesciences in a report on Thursday, October 15th. Finally, Deutsche Bank Aktiengesellschaft set a $104.00 target price on shares of Edwards Lifesciences in a research report on Tuesday, October 27th. Twenty-three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $108.88.

Edwards Lifesciences Stock Up 1.3%

Shares of EW opened at $100.70 on Thursday. Edwards Lifesciences has a 52 week low of $74.66 and a 52 week high of $104.17. The stock has a market capitalization of $57.99 billion, a price-to-earnings ratio of 56.90, a PEG ratio of 2.60 and a beta of 0.85. 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 stock has a fifty day moving average of $88.68 and a 200-day moving average of $85.69.

Edwards Lifesciences (NYSE:EW) last released its quarterly earnings data on Wednesday, November 4th. The medical research company reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.06. The company had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.68 billion. Edwards Lifesciences had a return on equity of 16.25% and a net margin of 15.30%. Edwards Lifesciences’s revenue for the quarter was up 10.5% on a year-over-year basis. During the same quarter last year, the business posted $0.67 EPS. As a group, sell-side analysts anticipate that Edwards Lifesciences will post 3.00 earnings per share for the current fiscal year.

Insider Activity

In related news, VP Daniel Lippis sold 619 shares of the company’s stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $92.03, for a total transaction of $56,966.57. Following the sale, the vice president owned 40,034 shares in the company, valued at $3,684,329.02. This represents a 1.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Andrew M. Dahl sold 544 shares of the stock in a transaction that occurred 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 transaction, the senior vice president owned 14,868 shares in the company, valued at $1,353,880.08. The trade was a 3.53% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 5,045 shares of company stock valued at $451,596 in the last ninety days. 0.31% of the stock is owned by company insiders.

Institutional Investors Weigh In On Edwards Lifesciences

Hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. bought a new stake in Edwards Lifesciences during the second quarter worth $5,318,092,000. Bank of New York Mellon Corp purchased a new stake in shares of Edwards Lifesciences in the second quarter valued at about $1,274,082,000. Bank of America Corp DE purchased a new stake in shares of Edwards Lifesciences in the second quarter valued at about $605,397,000. Deutsche Bank AG bought a new position in shares of Edwards Lifesciences during the second quarter valued at about $516,552,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Edwards Lifesciences by 0.6% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,488,643 shares of the medical research company’s stock valued at $496,503,000 after purchasing an additional 30,495 shares in the last quarter. 79.46% of the stock is owned by institutional investors.

Edwards Lifesciences News Roundup

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

• Positive Sentiment: Edwards beat Q3 estimates, reporting adjusted EPS of $0.80 versus $0.74 expected and revenue of $1.72 billion, up about 11% year over year. It raised its full-year sales outlook and set adjusted EPS guidance of $2.97–$3.05. TAVR sales grew 8.8%, while transcatheter mitral and tricuspid therapies (TMTT) grew 45.6%, supporting the growth outlook. Q3 earnings and outlook
• Positive Sentiment: New PROGRESS Trial data found TAVR performed better than active surveillance for at-risk patients with moderate aortic stenosis, including fewer combined death or heart-failure events and better quality-of-life measures. The findings could support broader future use, though they do not by themselves establish a change in treatment or reimbursement. PROGRESS Trial data
• Positive Sentiment: Analysts responded favorably to the results: UBS raised its target to $118 and JPMorgan to $120, while other firms also increased targets and several upgraded the shares. The revisions signal improved expectations, but are analyst opinions rather than guaranteed returns. UBS price-target increase JPMorgan price-target increase
• Negative Sentiment: Edwards’ CEO acknowledged that more competition is coming in TAVR, a potential challenge to market share and growth. CEO comments on TAVR competition

Edwards Lifesciences Company Profile

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.