Citigroup Issues Positive Forecast for Edwards Lifesciences (NYSE:EW) Stock Price

Edwards Lifesciences (NYSE:EW) had its target price increased by Citigroup from $110.00 to $117.00 in a research report report published on Thursday morning,Benzinga reports. The brokerage currently has a buy rating on the medical research company’s stock.

Several other research analysts have also weighed in on EW. UBS Group reiterated a “buy” rating and set a $110.00 target price (up from $90.00) on shares of Edwards Lifesciences in a report on Thursday, October 8th. Royal Bank Of Canada increased their price target on Edwards Lifesciences from $110.00 to $115.00 and gave the stock an “outperform” rating in a report on Thursday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Edwards Lifesciences in a research report on Thursday, October 15th. Wall Street Zen lowered Edwards Lifesciences from a “buy” rating to a “hold” rating in a research report on Saturday, October 31st. Finally, Barclays lifted their price objective on Edwards Lifesciences from $110.00 to $120.00 and gave the company an “overweight” rating in a report on Thursday. Twenty-three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, Edwards Lifesciences presently has a consensus rating of “Moderate Buy” and an average price target of $108.88.

Edwards Lifesciences Trading Up 1.3%

EW opened at $100.70 on Thursday. The firm’s fifty day moving average is $88.68 and its two-hundred day moving average is $85.69. The company has a debt-to-equity ratio of 0.06, a quick ratio of 3.77 and a current ratio of 4.52. The firm has a market cap of $57.99 billion, a PE ratio of 56.90, a price-to-earnings-growth ratio of 2.60 and a beta of 0.85. Edwards Lifesciences has a twelve month low of $74.66 and a twelve month high of $104.17.

Edwards Lifesciences (NYSE:EW) last announced its quarterly earnings results on Wednesday, November 4th. The medical research company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.06. Edwards Lifesciences had a net margin of 15.30% and a return on equity of 16.25%. The company had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.68 billion. During the same quarter in the previous year, the business earned $0.67 EPS. The firm’s revenue was up 10.5% on a year-over-year basis. Equities research analysts anticipate that Edwards Lifesciences will post 3.00 EPS for the current year.

Insider Buying and Selling at Edwards Lifesciences

In other news, VP Daniel J. Lippis sold 619 shares of the company’s stock in a transaction dated Thursday, October 8th. The stock was sold at an average price of $85.65, for a total transaction of $53,017.35. Following the completion of the transaction, the vice president directly owned 40,034 shares of the company’s stock, valued at $3,428,912.10. This represents a 1.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Annette Brüls sold 2,644 shares of the stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $89.98, for a total value of $237,907.12. Following the transaction, the vice president owned 17,984 shares of the company’s stock, valued at approximately $1,618,200.32. The trade was a 12.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 5,045 shares of company stock valued at $451,596 in the last 90 days. 0.31% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Edwards Lifesciences

Several institutional investors have recently bought and sold shares of the company. BlackRock Inc. acquired a new stake in shares of Edwards Lifesciences in the second quarter valued at approximately $5,318,092,000. Bank of New York Mellon Corp acquired a new position in Edwards Lifesciences during the second quarter worth $1,274,082,000. Bank of America Corp DE acquired a new position in Edwards Lifesciences during the second quarter worth $605,397,000. Deutsche Bank AG acquired a new position in Edwards Lifesciences during the second quarter worth $516,552,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Edwards Lifesciences by 0.6% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,488,643 shares of the medical research company’s stock valued at $496,503,000 after purchasing an additional 30,495 shares in the last quarter. Institutional investors own 79.46% of the company’s stock.

Key Stories Impacting Edwards Lifesciences

Here are the key news stories impacting Edwards Lifesciences this week:

• Positive Sentiment: Edwards beat Q3 estimates, reporting adjusted EPS of $0.80 versus $0.74 expected and revenue of $1.72 billion, up about 11% year over year. It raised its full-year sales outlook and set adjusted EPS guidance of $2.97–$3.05. TAVR sales grew 8.8%, while transcatheter mitral and tricuspid therapies (TMTT) grew 45.6%, supporting the growth outlook. Q3 earnings and outlook
• Positive Sentiment: New PROGRESS Trial data found TAVR performed better than active surveillance for at-risk patients with moderate aortic stenosis, including fewer combined death or heart-failure events and better quality-of-life measures. The findings could support broader future use, though they do not by themselves establish a change in treatment or reimbursement. PROGRESS Trial data
• Positive Sentiment: Analysts responded favorably to the results: UBS raised its target to $118 and JPMorgan to $120, while other firms also increased targets and several upgraded the shares. The revisions signal improved expectations, but are analyst opinions rather than guaranteed returns. UBS price-target increase JPMorgan price-target increase
• Negative Sentiment: Edwards’ CEO acknowledged that more competition is coming in TAVR, a potential challenge to market share and growth. CEO comments on TAVR competition

About Edwards Lifesciences

Edwards Lifesciences Corporation (NYSE:EW) is a medical technology company focused on therapies for structural heart disease and critical care. The company develops and manufactures products designed to treat conditions affecting the heart’s valves, including aortic, mitral and tricuspid valve disorders.

Its portfolio includes transcatheter aortic valve replacement systems, transcatheter mitral and tricuspid therapies, surgical heart valves and valve-repair technologies. Edwards also provides related delivery systems and other medical devices used by physicians in minimally invasive and open-heart procedures.

Founded in 1958 by Miles Lowell Edwards, the company is headquartered in Irvine, California, and serves healthcare providers and patients internationally.