Barclays PLC Reaffirms “Equal Weight” Rating for Edwards Lifesciences Corporation (EW)
Barclays PLC reiterated their equal weight rating on shares of Edwards Lifesciences Corporation (NYSE:EW) in a research note issued to investors on Saturday morning. The brokerage currently has a $120.00 price objective on the medical research company’s stock.
Other analysts have also recently issued reports about the company. BidaskClub upgraded Edwards Lifesciences Corporation from a buy rating to a strong-buy rating in a research report on Thursday, June 22nd. Zacks Investment Research lowered Edwards Lifesciences Corporation from a strong-buy rating to a hold rating in a research report on Tuesday, September 26th. BMO Capital Markets reiterated a buy rating and issued a $132.00 target price on shares of Edwards Lifesciences Corporation in a research note on Friday, September 1st. Cowen and Company reissued an outperform rating and set a $135.00 price target (up previously from $130.00) on shares of Edwards Lifesciences Corporation in a report on Thursday, July 27th. Finally, Jefferies Group LLC reissued a buy rating and set a $115.00 price target on shares of Edwards Lifesciences Corporation in a report on Friday, June 30th. Seven analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus target price of $120.75.
Edwards Lifesciences Corporation (NYSE EW) opened at 109.99 on Friday. Edwards Lifesciences Corporation has a 12 month low of $81.12 and a 12 month high of $121.75. The firm has a market cap of $23.23 billion, a PE ratio of 33.36 and a beta of 0.62. The company has a 50-day moving average price of $112.41 and a 200 day moving average price of $110.54.
Edwards Lifesciences Corporation (NYSE:EW) last issued its earnings results on Wednesday, July 26th. The medical research company reported $1.08 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.88 by $0.20. Edwards Lifesciences Corporation had a net margin of 22.16% and a return on equity of 27.17%. The company had revenue of $842.00 million for the quarter, compared to analysts’ expectations of $839.16 million. During the same period in the prior year, the company earned $0.76 earnings per share. The firm’s revenue was up 10.9% compared to the same quarter last year. Equities research analysts anticipate that Edwards Lifesciences Corporation will post $3.78 EPS for the current year.
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In other Edwards Lifesciences Corporation news, VP Catherine M. Szyman sold 4,681 shares of the company’s stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $115.78, for a total value of $541,966.18. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Donald E. Bobo, Jr. sold 5,300 shares of the company’s stock in a transaction dated Friday, September 29th. The stock was sold at an average price of $108.86, for a total value of $576,958.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 182,201 shares of company stock worth $20,768,154. 2.13% of the stock is currently owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the stock. Westpac Banking Corp grew its position in Edwards Lifesciences Corporation by 13.5% in the second quarter. Westpac Banking Corp now owns 14,214 shares of the medical research company’s stock worth $1,681,000 after acquiring an additional 1,691 shares in the last quarter. Financial Counselors Inc. increased its stake in shares of Edwards Lifesciences Corporation by 2.1% during the 1st quarter. Financial Counselors Inc. now owns 13,637 shares of the medical research company’s stock worth $1,283,000 after purchasing an additional 282 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of Edwards Lifesciences Corporation by 41.9% during the 2nd quarter. Principal Financial Group Inc. now owns 465,885 shares of the medical research company’s stock worth $55,086,000 after purchasing an additional 137,643 shares during the last quarter. Calamos Advisors LLC increased its stake in shares of Edwards Lifesciences Corporation by 6.0% during the 2nd quarter. Calamos Advisors LLC now owns 40,495 shares of the medical research company’s stock worth $4,788,000 after purchasing an additional 2,309 shares during the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of Edwards Lifesciences Corporation by 2.5% during the 1st quarter. Vanguard Group Inc. now owns 20,341,668 shares of the medical research company’s stock valued at $1,913,541,000 after purchasing an additional 505,725 shares in the last quarter. Hedge funds and other institutional investors own 82.08% of the company’s stock.
Edwards Lifesciences Corporation Company Profile
Edwards Lifesciences Corporation is a manufacturer of heart valve systems and repair products used to replace or repair a patient’s diseased or defective heart valve. The Company is engaged in patient-focused innovations for structural heart disease and critical care monitoring. Its segments include United States, Europe, Japan and Rest of World.
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