Wells Fargo & Co Increases Edwards Lifesciences (NYSE:EW) Price Target to $270.00

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Edwards Lifesciences (NYSE:EW) had its price target hoisted by Wells Fargo & Co from $262.00 to $270.00 in a research report report published on Friday, BenzingaRatingsTable reports. Wells Fargo & Co currently has an outperform rating on the medical research company’s stock.

EW has been the subject of a number of other reports. UBS Group increased their target price on shares of Edwards Lifesciences from $205.00 to $230.00 and gave the company a neutral rating in a report on Wednesday, October 16th. Morgan Stanley upped their price target on Edwards Lifesciences from $248.00 to $270.00 and gave the stock an overweight rating in a report on Friday. Canaccord Genuity raised their price objective on Edwards Lifesciences from $250.00 to $260.00 and gave the company a buy rating in a research note on Thursday, October 24th. Raymond James lifted their price objective on Edwards Lifesciences from $255.00 to $263.00 and gave the stock an outperform rating in a report on Friday. Finally, Credit Suisse Group boosted their target price on Edwards Lifesciences from $269.00 to $275.00 and gave the stock an outperform rating in a research report on Friday. Two analysts have rated the stock with a sell rating, five have issued a hold rating and thirteen have given a buy rating to the company. Edwards Lifesciences has a consensus rating of Buy and a consensus target price of $237.33.

Shares of NYSE EW traded down $3.98 during trading on Friday, hitting $238.98. 2,837,845 shares of the company were exchanged, compared to its average volume of 1,224,909. The company has a market cap of $49.84 billion, a price-to-earnings ratio of 50.85, a PEG ratio of 2.96 and a beta of 0.80. Edwards Lifesciences has a 1 year low of $139.64 and a 1 year high of $247.64. The firm’s fifty day moving average price is $237.75 and its 200 day moving average price is $212.06. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.53 and a quick ratio of 2.74.

Edwards Lifesciences (NYSE:EW) last announced its quarterly earnings results on Wednesday, October 23rd. The medical research company reported $1.41 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.22 by $0.19. Edwards Lifesciences had a net margin of 18.64% and a return on equity of 32.28%. The business had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter last year, the firm posted $1.07 EPS. The business’s revenue was up 20.7% compared to the same quarter last year. On average, research analysts forecast that Edwards Lifesciences will post 5.6 earnings per share for the current year.

In other Edwards Lifesciences news, VP Catherine M. Szyman sold 2,500 shares of the firm’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $216.71, for a total transaction of $541,775.00. Following the sale, the vice president now directly owns 20,138 shares of the company’s stock, valued at approximately $4,364,105.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael A. Mussallem sold 22,850 shares of Edwards Lifesciences stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $214.90, for a total transaction of $4,910,465.00. Following the sale, the chief executive officer now owns 95,770 shares of the company’s stock, valued at $20,580,973. The disclosure for this sale can be found here. Insiders have sold a total of 126,651 shares of company stock valued at $29,299,139 over the last 90 days. Insiders own 1.63% of the company’s stock.

Several large investors have recently bought and sold shares of EW. Prestige Wealth Management Group LLC raised its holdings in Edwards Lifesciences by 32.8% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 466 shares of the medical research company’s stock valued at $102,000 after acquiring an additional 115 shares during the last quarter. Bank of Hawaii purchased a new stake in shares of Edwards Lifesciences in the third quarter valued at $593,000. IHT Wealth Management LLC increased its stake in Edwards Lifesciences by 38.1% in the third quarter. IHT Wealth Management LLC now owns 1,512 shares of the medical research company’s stock valued at $333,000 after purchasing an additional 417 shares during the last quarter. GQ Asset Management LLC acquired a new position in Edwards Lifesciences in the third quarter valued at $259,000. Finally, National Pension Service lifted its position in Edwards Lifesciences by 4.8% during the third quarter. National Pension Service now owns 272,156 shares of the medical research company’s stock worth $59,850,000 after buying an additional 12,368 shares during the period. 80.87% of the stock is owned by institutional investors and hedge funds.

Edwards Lifesciences Company Profile

Edwards Lifesciences Corporation provides products and technologies for structural heart disease and critical care monitoring in the United States and internationally. It offers transcatheter heart valve therapy products comprising transcatheter aortic valve replacement, and transcatheter mitral and tricuspid therapies for the nonsurgical replacement of heart valves.

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Analyst Recommendations for Edwards Lifesciences (NYSE:EW)

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