Edwards Lifesciences (NYSE:EW) Price Target Raised to $262.00

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Edwards Lifesciences (NYSE:EW) had its price target raised by equities research analysts at Piper Jaffray Companies from $255.00 to $262.00 in a report released on Monday, The Fly reports. The brokerage presently has an “overweight” rating on the medical research company’s stock. Piper Jaffray Companies’ price objective suggests a potential upside of 11.83% from the stock’s current price. Piper Jaffray Companies also issued estimates for Edwards Lifesciences’ Q4 2019 earnings at $1.48 EPS, FY2019 earnings at $5.59 EPS, Q1 2020 earnings at $1.49 EPS, Q2 2020 earnings at $1.55 EPS, Q3 2020 earnings at $1.53 EPS, FY2020 earnings at $6.18 EPS, Q1 2021 earnings at $1.65 EPS, Q2 2021 earnings at $1.74 EPS and Q3 2021 earnings at $1.71 EPS.

EW has been the subject of a number of other reports. ValuEngine lowered Edwards Lifesciences from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Wells Fargo & Co lifted their price objective on shares of Edwards Lifesciences from $262.00 to $270.00 and gave the stock an “outperform” rating in a report on Friday. Jefferies Financial Group upped their target price on shares of Edwards Lifesciences from $255.00 to $285.00 and gave the stock a “buy” rating in a research note on Tuesday, December 3rd. Credit Suisse Group increased their target price on shares of Edwards Lifesciences from $269.00 to $275.00 and gave the company an “outperform” rating in a report on Friday. Finally, Royal Bank of Canada raised their price target on shares of Edwards Lifesciences from $217.00 to $250.00 and gave the company an “outperform” rating in a research report on Tuesday, October 22nd. Two analysts have rated the stock with a sell rating, five have given a hold rating and thirteen have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $237.72.

NYSE:EW opened at $234.29 on Monday. The company has a quick ratio of 2.74, a current ratio of 3.53 and a debt-to-equity ratio of 0.17. Edwards Lifesciences has a twelve month low of $139.64 and a twelve month high of $247.64. The company has a fifty day moving average of $238.32 and a 200-day moving average of $213.03. The firm has a market capitalization of $49.84 billion, a P/E ratio of 49.85, a P/E/G ratio of 2.89 and a beta of 0.80.

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

In other Edwards Lifesciences news, VP Catherine M. Szyman sold 2,500 shares of the stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $216.71, for a total value of $541,775.00. Following the sale, the vice president now directly owns 20,138 shares in the company, valued at approximately $4,364,105.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael A. Mussallem sold 22,850 shares of the firm’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $238.79, for a total transaction of $5,456,351.50. Following the completion of the transaction, the chief executive officer now directly owns 95,770 shares of the company’s stock, valued at $22,868,918.30. The disclosure for this sale can be found here. In the last three months, insiders sold 96,301 shares of company stock valued at $22,695,624. 1.63% of the stock is currently owned by insiders.

Hedge funds have recently modified their holdings of the stock. TRUE Private Wealth Advisors bought a new position in Edwards Lifesciences in the second quarter valued at $26,000. Quest Capital Management Inc. ADV purchased a new position in shares of Edwards Lifesciences in the 3rd quarter worth about $28,000. Next Capital Management LLC boosted its holdings in shares of Edwards Lifesciences by 297.7% in the 2nd quarter. Next Capital Management LLC now owns 171 shares of the medical research company’s stock worth $32,000 after purchasing an additional 128 shares in the last quarter. Tarbox Family Office Inc. increased its position in shares of Edwards Lifesciences by 48.7% during the 2nd quarter. Tarbox Family Office Inc. now owns 177 shares of the medical research company’s stock valued at $33,000 after purchasing an additional 58 shares during the last quarter. Finally, Usca Ria LLC bought a new position in shares of Edwards Lifesciences during the 3rd quarter valued at about $34,000. Institutional investors own 80.88% of the company’s stock.

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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