Edwards Lifesciences (NYSE:EW) Given Buy Rating at Canaccord Genuity

Edwards Lifesciences (NYSE:EW)‘s stock had its “buy” rating restated by investment analysts at Canaccord Genuity in a research report issued on Friday, Stock Target Advisor reports. They presently have a $260.00 price target on the medical research company’s stock. Canaccord Genuity’s price objective indicates a potential upside of 8.80% from the company’s previous close.

EW has been the topic of several other research reports. Piper Jaffray Companies lifted their price target on shares of Edwards Lifesciences from $240.00 to $255.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Jefferies Financial Group upped their price target on shares of Edwards Lifesciences from $255.00 to $285.00 and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. Cowen increased their price objective on shares of Edwards Lifesciences from $250.00 to $265.00 and gave the stock a “positive” rating in a research note on Thursday, October 24th. Raymond James raised their price objective on shares of Edwards Lifesciences from $255.00 to $263.00 and gave the company an “outperform” rating in a research report on Friday. Finally, Wells Fargo & Co lifted their target price on shares of Edwards Lifesciences from $262.00 to $270.00 and gave the company an “outperform” rating in a research note on Friday. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. Edwards Lifesciences currently has an average rating of “Buy” and an average target price of $237.33.

NYSE:EW opened at $238.98 on Friday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.74 and a current ratio of 3.53. The stock has a 50-day simple moving average of $237.75 and a two-hundred day simple moving average of $212.06. The firm has a market capitalization of $49.84 billion, a PE ratio of 50.85, a P/E/G ratio of 2.96 and a beta of 0.80. Edwards Lifesciences has a 52-week low of $139.64 and a 52-week high of $247.64.

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

In related news, CFO Scott B. Ullem sold 7,500 shares of the stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $225.74, for a total transaction of $1,693,050.00. Following the completion of the transaction, the chief financial officer now directly owns 21,064 shares of the company’s stock, valued at $4,754,987.36. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Michael A. Mussallem sold 22,850 shares of the stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $214.90, for a total value of $4,910,465.00. Following the transaction, the chief executive officer now directly owns 95,770 shares of the company’s stock, valued at $20,580,973. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 126,651 shares of company stock valued at $29,299,139. 1.63% of the stock is owned by company insiders.

A number of large investors have recently added to or reduced their stakes in the business. Quest Capital Management Inc. ADV purchased a new position in shares of Edwards Lifesciences in the third quarter valued at $28,000. TRUE Private Wealth Advisors purchased a new position in shares of Edwards Lifesciences in the 2nd quarter worth $26,000. Usca Ria LLC purchased a new position in shares of Edwards Lifesciences in the 3rd quarter worth $34,000. Next Capital Management LLC increased 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 buying an additional 128 shares during the last quarter. Finally, Tarbox Family Office Inc. increased its holdings in shares of Edwards Lifesciences by 48.7% in the 2nd quarter. Tarbox Family Office Inc. now owns 177 shares of the medical research company’s stock worth $33,000 after buying an additional 58 shares during the last quarter. 80.87% of the stock is currently 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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