BTIG Research Forecasts Strong Price Appreciation for Edwards Lifesciences (NYSE:EW) Stock

Edwards Lifesciences (NYSE:EW) had its price objective lifted by analysts at BTIG Research from $110.00 to $115.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the medical research company’s stock. BTIG Research‘s price objective would indicate a potential upside of 12.85% from the company’s previous close.

A number of other research analysts also recently issued reports on EW. Deutsche Bank Aktiengesellschaft set a $104.00 price target on shares of Edwards Lifesciences in a research report on Tuesday, October 27th. Royal Bank Of Canada lifted their price objective on shares of Edwards Lifesciences from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Monday, July 13th. The Goldman Sachs Group upped 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. Barclays upgraded shares of Edwards Lifesciences to a “strong-buy” rating in a research report on Wednesday, October 7th. Finally, Argus upped their target price on Edwards Lifesciences from $105.00 to $115.00 and gave the company a “buy” rating in a report on Friday, August 21st. 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, Edwards Lifesciences currently has a consensus rating of “Moderate Buy” and a consensus price target of $108.88.

Edwards Lifesciences Price Performance

Shares of NYSE EW traded up $1.09 during midday trading on Thursday, hitting $101.91. The company had a trading volume of 5,112,546 shares, compared to its average volume of 4,098,582. The firm has a market capitalization of $58.68 billion, a price-to-earnings ratio of 57.58, a price-to-earnings-growth ratio of 2.44 and a beta of 0.85. Edwards Lifesciences has a twelve month low of $74.66 and a twelve month high of $104.17. The business has a 50-day simple moving average of $88.92 and a two-hundred day simple moving average of $85.78. The company has a quick ratio of 3.77, a current ratio of 4.52 and a debt-to-equity ratio of 0.06.

Edwards Lifesciences (NYSE:EW) last issued its quarterly earnings data 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 analysts’ expectations of $1.68 billion. Edwards Lifesciences had a net margin of 15.43% and a return on equity of 15.68%. The company’s revenue was up 10.5% on a year-over-year basis. During the same period last year, the company posted $0.67 EPS. Equities research analysts anticipate that Edwards Lifesciences will post 3.01 earnings per share for the current year.

Insider Buying and Selling at Edwards Lifesciences

In other Edwards Lifesciences news, SVP Andrew M. Dahl sold 544 shares of the company’s stock in a transaction 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 sale, the senior vice president directly owned 14,868 shares in the company, valued at $1,353,880.08. This represents a 3.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Annette Brüls sold 2,644 shares of the stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $89.98, for a total transaction of $237,907.12. Following the sale, the vice president owned 17,984 shares of the company’s stock, valued at $1,618,200.32. This trade represents a 12.82% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 5,045 shares of company stock valued at $451,596. 0.31% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. RMG Wealth Management LLC bought a new position in shares of Edwards Lifesciences in the first quarter worth about $26,000. Pin Oak Investment Advisors Inc. bought a new stake in shares of Edwards Lifesciences during the second quarter valued at approximately $26,000. GK Wealth Management LLC bought a new stake in shares of Edwards Lifesciences during the third quarter valued at approximately $26,000. TrinityBridge Ltd acquired a new stake in shares of Edwards Lifesciences in the second quarter valued at approximately $27,000. Finally, Meeder Asset Management Inc. increased its holdings in shares of Edwards Lifesciences by 175.2% in the first quarter. Meeder Asset Management Inc. now owns 366 shares of the medical research company’s stock valued at $29,000 after purchasing an additional 233 shares in the last quarter. Institutional investors and hedge funds own 79.46% of the company’s stock.

Edwards Lifesciences News Roundup

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

• Positive Sentiment: Edwards reported Q3 sales growth of 11.2% to $1.72 billion, with adjusted earnings and revenue beating estimates. TMTT sales rose 45.6% and TAVR sales grew 8.8%; the company raised its sales outlook and set adjusted full-year EPS guidance of $2.97–$3.05. Edwards Q3 earnings call highlights
• Positive Sentiment: PROGRESS Trial results found TAVR outperformed active surveillance for at-risk patients with moderate aortic stenosis, including fewer combined death or heart-failure outcomes. The findings could support earlier use of the procedure and expand Edwards’ potential market. Trial data points to earlier TAVR use
• Positive Sentiment: Analysts lifted price targets following the results: UBS raised its target to $118 and JPMorgan to $120, while Piper Sandler reaffirmed its buy-equivalent rating with a $115 target. The latest target increases and reaffirmations add to bullish sentiment. UBS reaffirms buy rating Piper Sandler keeps buy rating
• Negative Sentiment: Management has acknowledged that more competition is coming in TAVR, a potential pressure on market share and future growth, although the recent results and trial data provide positive offsets. CEO comments on TAVR competition

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.

Its structural heart portfolio includes transcatheter aortic valve replacement (TAVR) systems and therapies addressing mitral and tricuspid valve disease.