Edwards Lifesciences (NYSE:EW) Upgraded to “Buy” by StockNews.com

StockNews.com upgraded shares of Edwards Lifesciences (NYSE:EWGet Rating) from a hold rating to a buy rating in a research report sent to investors on Friday.

Other research analysts have also recently issued research reports about the company. Morgan Stanley decreased their target price on Edwards Lifesciences from $136.00 to $119.00 and set an overweight rating for the company in a research note on Friday, July 15th. Cowen decreased their target price on Edwards Lifesciences from $140.00 to $125.00 in a research note on Monday, July 11th. Cowen decreased their target price on Edwards Lifesciences from $140.00 to $125.00 in a research note on Monday, July 11th. Canaccord Genuity Group cut Edwards Lifesciences from a buy rating to a hold rating and decreased their target price for the company from $115.00 to $106.00 in a research note on Friday, July 29th. Finally, Canaccord Genuity Group cut Edwards Lifesciences from a buy rating to a hold rating and decreased their target price for the company from $115.00 to $106.00 in a research note on Friday, July 29th. Three research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average price target of $126.19.

Edwards Lifesciences Price Performance

Shares of EW opened at $106.12 on Friday. The firm has a market capitalization of $65.79 billion, a price-to-earnings ratio of 45.94, a price-to-earnings-growth ratio of 3.09 and a beta of 1.12. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.60 and a current ratio of 3.37. Edwards Lifesciences has a one year low of $85.58 and a one year high of $131.73. The stock’s fifty day moving average is $97.35 and its 200-day moving average is $105.35.

Edwards Lifesciences (NYSE:EWGet Rating) last issued its quarterly earnings results on Thursday, July 28th. The medical research company reported $0.63 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.01). The business had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.40 billion. Edwards Lifesciences had a net margin of 27.18% and a return on equity of 24.77%. Edwards Lifesciences’s revenue for the quarter was down .2% on a year-over-year basis. During the same period last year, the business posted $0.64 earnings per share. Equities analysts anticipate that Edwards Lifesciences will post 2.51 EPS for the current year.

Insider Activity at Edwards Lifesciences

In other Edwards Lifesciences news, CEO Michael A. Mussallem sold 32,550 shares of the firm’s stock in a transaction that occurred on Tuesday, May 10th. The stock was sold at an average price of $94.82, for a total value of $3,086,391.00. Following the sale, the chief executive officer now owns 157,353 shares of the company’s stock, valued at approximately $14,920,211.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Michael A. Mussallem sold 19,875 shares of Edwards Lifesciences stock in a transaction that occurred on Tuesday, June 14th. The stock was sold at an average price of $86.96, for a total transaction of $1,728,330.00. Following the sale, the chief executive officer now owns 157,353 shares of the company’s stock, valued at approximately $13,683,416.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael A. Mussallem sold 32,550 shares of Edwards Lifesciences stock in a transaction that occurred on Tuesday, May 10th. The stock was sold at an average price of $94.82, for a total value of $3,086,391.00. Following the sale, the chief executive officer now directly owns 157,353 shares in the company, valued at approximately $14,920,211.46. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 120,854 shares of company stock valued at $11,439,096. Corporate insiders own 1.29% of the company’s stock.

Institutional Trading of Edwards Lifesciences

Several institutional investors have recently modified their holdings of the company. Bank of Nova Scotia boosted its stake in Edwards Lifesciences by 128,314.4% in the 2nd quarter. Bank of Nova Scotia now owns 582,089,719 shares of the medical research company’s stock valued at $27,369,096,000 after buying an additional 581,636,429 shares in the last quarter. Norges Bank acquired a new stake in Edwards Lifesciences in the 4th quarter valued at $839,720,000. BlackRock Inc. boosted its stake in Edwards Lifesciences by 7.6% in the 4th quarter. BlackRock Inc. now owns 57,040,983 shares of the medical research company’s stock valued at $7,389,659,000 after buying an additional 4,007,132 shares in the last quarter. Nuveen Asset Management LLC boosted its stake in Edwards Lifesciences by 53.5% in the 4th quarter. Nuveen Asset Management LLC now owns 4,401,030 shares of the medical research company’s stock valued at $570,153,000 after buying an additional 1,533,795 shares in the last quarter. Finally, Capital International Investors raised its position in Edwards Lifesciences by 6.0% in the 4th quarter. Capital International Investors now owns 21,931,225 shares of the medical research company’s stock valued at $2,841,315,000 after purchasing an additional 1,250,416 shares during the last quarter. Institutional investors and hedge funds own 82.54% of the company’s stock.

Edwards Lifesciences Company Profile

(Get Rating)

Edwards Lifesciences Corporation provides products and technologies for structural heart disease, and critical care and surgical monitoring in the United States, Europe, Japan, and internationally. It offers transcatheter heart valve replacement products for the minimally invasive replacement of heart valves; and transcatheter heart valve repair and replacement products to treat mitral and tricuspid valve diseases.

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Analyst Recommendations for Edwards Lifesciences (NYSE:EW)

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