Sanford C. Bernstein Issues Positive Forecast for Edwards Lifesciences (NYSE:EW) Stock Price

Edwards Lifesciences (NYSE:EW) had its price target hoisted by Sanford C. Bernstein from $99.00 to $106.00 in a research report sent to investors on Thursday,Benzinga reports. The brokerage currently has a market perform rating on the medical research company’s stock.

A number of other research analysts have also recently weighed in on EW. Jefferies Financial Group lifted their target price on shares of Edwards Lifesciences from $102.00 to $105.00 and gave the company a “buy” rating in a research note on Friday, July 24th. Citigroup reissued a “buy” rating and set a $101.00 price target (up from $96.00) on shares of Edwards Lifesciences in a report on Monday, October 5th. Barclays upgraded Edwards Lifesciences to a “strong-buy” rating in a research report on Wednesday, October 7th. Mizuho set a $120.00 price objective on Edwards Lifesciences in a research note on Thursday. Finally, The Goldman Sachs Group increased their target price on Edwards Lifesciences from $98.00 to $102.00 and gave the stock a “buy” rating in a research report on Tuesday, July 14th. Twenty-three equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $108.88.

Edwards Lifesciences Price Performance

NYSE EW opened at $100.70 on Thursday. Edwards Lifesciences has a 12 month low of $74.66 and a 12 month high of $104.17. The stock has a market cap 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’s 50 day moving average is $88.68 and its two-hundred day moving average is $85.69. The company has a current ratio of 4.52, a quick ratio of 3.77 and a debt-to-equity ratio of 0.06.

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

Insider Buying and Selling

In other Edwards Lifesciences news, VP Daniel J. Lippis sold 619 shares of the firm’s stock in a transaction that occurred on Thursday, October 8th. The stock was sold at an average price of $85.65, for a total transaction of $53,017.35. Following the completion of the transaction, the vice president owned 40,034 shares in the company, valued at $3,428,912.10. This trade represents a 1.52% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Andrew M. Dahl sold 544 shares of Edwards Lifesciences 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 completion of the sale, the senior vice president directly owned 14,868 shares in the company, valued at approximately $1,353,880.08. The trade was a 3.53% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 5,045 shares of company stock worth $451,596. Corporate insiders own 0.31% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Maryland State Retirement & Pension System lifted its position in Edwards Lifesciences by 9.3% during the third quarter. Maryland State Retirement & Pension System now owns 34,128 shares of the medical research company’s stock valued at $2,946,000 after purchasing an additional 2,896 shares during the last quarter. Ritholtz Wealth Management increased its holdings in shares of Edwards Lifesciences by 91.6% in the 3rd quarter. Ritholtz Wealth Management now owns 15,148 shares of the medical research company’s stock worth $1,308,000 after buying an additional 7,241 shares during the last quarter. Jacobi Capital Management LLC purchased a new stake in shares of Edwards Lifesciences during the 3rd quarter valued at about $32,000. Jefferies Financial Group Inc. raised its position in shares of Edwards Lifesciences by 649.1% during the 3rd quarter. Jefferies Financial Group Inc. now owns 296,800 shares of the medical research company’s stock valued at $25,620,000 after buying an additional 257,180 shares in the last quarter. Finally, First Command Advisory Services Inc. lifted its holdings in shares of Edwards Lifesciences by 261.5% in the 3rd quarter. First Command Advisory Services Inc. now owns 2,686 shares of the medical research company’s stock valued at $232,000 after acquiring an additional 1,943 shares during the last quarter. 79.46% of the stock is owned by hedge funds and other institutional investors.

More Edwards Lifesciences News

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.