Edwards Lifesciences Corporation (EW) Rating Reiterated by Stifel Nicolaus
Stifel Nicolaus restated their buy rating on shares of Edwards Lifesciences Corporation (NYSE:EW) in a report issued on Thursday morning, MarketBeat Ratings reports. The firm currently has a $130.00 price objective on the medical research company’s stock, up from their prior price objective of $118.00.
Other equities research analysts also recently issued reports about the company. Zacks Investment Research downgraded Edwards Lifesciences Corporation from a buy rating to a hold rating in a report on Thursday, May 18th. BidaskClub downgraded Edwards Lifesciences Corporation from a strong-buy rating to a buy rating in a report on Wednesday, July 19th. Bank of America Corporation boosted their target price on Edwards Lifesciences Corporation from $140.00 to $150.00 and gave the stock a buy rating in a report on Thursday. SunTrust Banks, Inc. boosted their target price on Edwards Lifesciences Corporation to $14.00 and gave the stock a buy rating in a report on Monday, July 17th. Finally, Royal Bank Of Canada boosted their target price on Edwards Lifesciences Corporation from $116.00 to $120.00 and gave the stock an outperform rating in a report on Wednesday, April 26th. Five analysts have rated the stock with a hold rating, eighteen have issued 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 price target of $121.13.
Shares of Edwards Lifesciences Corporation (EW) traded down 0.68% during mid-day trading on Thursday, hitting $114.73. The stock had a trading volume of 615,245 shares. The firm has a 50 day moving average of $117.23 and a 200 day moving average of $104.08. The stock has a market cap of $24.15 billion, a price-to-earnings ratio of 34.80 and a beta of 0.63. Edwards Lifesciences Corporation has a one year low of $81.12 and a one year high of $121.75.
Edwards Lifesciences Corporation (NYSE:EW) last released its quarterly earnings data on Wednesday, July 26th. The medical research company reported $1.08 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.20. The company had revenue of $842 million for the quarter, compared to the consensus estimate of $839.16 million. Edwards Lifesciences Corporation had a return on equity of 27.17% and a net margin of 22.16%. The company’s quarterly revenue was up 10.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.76 earnings per share. On average, analysts forecast that Edwards Lifesciences Corporation will post $3.53 earnings per share for the current year.
In other Edwards Lifesciences Corporation news, VP Donald E. Bobo, Jr. sold 34,120 shares of the company’s stock in a transaction on Thursday, May 4th. The shares were sold at an average price of $109.98, for a total transaction of $3,752,517.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Michael A. Mussallem sold 49,100 shares of the company’s stock in a transaction on Wednesday, May 3rd. The shares were sold at an average price of $109.71, for a total transaction of $5,386,761.00. The disclosure for this sale can be found here. Insiders have sold a total of 184,951 shares of company stock valued at $20,780,242 in the last quarter. Corporate insiders own 2.13% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. M Holdings Securities Inc. purchased a new stake in Edwards Lifesciences Corporation during the fourth quarter worth approximately $381,000. Kentucky Retirement Systems purchased a new stake in Edwards Lifesciences Corporation during the fourth quarter worth approximately $1,454,000. Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in Edwards Lifesciences Corporation during the fourth quarter worth approximately $649,000. Macquarie Group Ltd. boosted its stake in Edwards Lifesciences Corporation by 56.9% in the fourth quarter. Macquarie Group Ltd. now owns 149,380 shares of the medical research company’s stock worth $13,996,000 after buying an additional 54,196 shares in the last quarter. Finally, Bath Savings Trust Co purchased a new stake in Edwards Lifesciences Corporation during the first quarter worth approximately $229,000. Institutional investors own 83.80% of the company’s stock.
About Edwards Lifesciences Corporation
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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