Edwards Lifesciences Corporation (NYSE:EW) Receives Outperform Rating from Cowen and Company
Cowen and Company restated their outperform rating on shares of Edwards Lifesciences Corporation (NYSE:EW) in a report released on Thursday morning. The firm currently has a $135.00 price target on the medical research company’s stock, up from their prior price target of $130.00.
Several other research firms have also recently weighed in on EW. BidaskClub upgraded shares of Edwards Lifesciences Corporation from a buy rating to a strong-buy rating in a report on Thursday, June 22nd. Canaccord Genuity restated a buy rating and set a $150.00 price target on shares of Edwards Lifesciences Corporation in a report on Wednesday, June 28th. Zacks Investment Research cut shares of Edwards Lifesciences Corporation from a buy rating to a hold rating in a report on Thursday, June 8th. Jefferies Group LLC restated a buy rating and set a $115.00 price target on shares of Edwards Lifesciences Corporation in a report on Friday, June 30th. Finally, SunTrust Banks, Inc. boosted their price target on shares of Edwards Lifesciences Corporation to $14.00 and gave the stock a buy rating in a report on Monday, July 17th. Five research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of Buy and an average price target of $121.13.
Edwards Lifesciences Corporation (NYSE:EW) traded down 0.68% during trading on Thursday, hitting $114.73. 615,245 shares of the stock were exchanged. Edwards Lifesciences Corporation has a 52 week low of $81.12 and a 52 week high of $121.75. The firm has a market cap of $24.15 billion, a PE ratio of 34.80 and a beta of 0.63. The firm’s 50-day moving average is $117.23 and its 200 day moving average is $104.08.
Edwards Lifesciences Corporation (NYSE:EW) last issued its quarterly earnings data on Wednesday, July 26th. The medical research company reported $1.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.20. The firm had revenue of $842 million during the quarter, compared to analysts’ expectations of $839.16 million. Edwards Lifesciences Corporation had a net margin of 22.16% and a return on equity of 27.17%. The business’s revenue was up 10.9% on a year-over-year basis. During the same period last year, the company earned $0.76 earnings per share. Analysts expect that Edwards Lifesciences Corporation will post $3.53 earnings per share for the current fiscal year.
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In related news, VP Donald E. Bobo, Jr. sold 34,120 shares of the company’s stock in a transaction that occurred 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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Patrick B. Verguet sold 11,500 shares of the company’s stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $111.64, for a total transaction of $1,283,860.00. The disclosure for this sale can be found here. In the last three months, insiders sold 184,951 shares of company stock worth $20,780,242. Insiders own 2.13% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the company. Korea Investment CORP raised its stake in Edwards Lifesciences Corporation by 238.2% in the second quarter. Korea Investment CORP now owns 145,483 shares of the medical research company’s stock worth $17,202,000 after buying an additional 102,467 shares during the period. Egerton Capital UK LLP purchased a new stake in Edwards Lifesciences Corporation during the second quarter worth $217,805,000. Lockheed Martin Investment Management Co. raised its stake in Edwards Lifesciences Corporation by 86.7% in the second quarter. Lockheed Martin Investment Management Co. now owns 23,900 shares of the medical research company’s stock worth $2,826,000 after buying an additional 11,100 shares during the period. Johnston Asset Management LLC raised its stake in Edwards Lifesciences Corporation by 12.1% in the second quarter. Johnston Asset Management LLC now owns 379,351 shares of the medical research company’s stock worth $44,854,000 after buying an additional 40,850 shares during the period. Finally, CAPROCK Group Inc. purchased a new stake in Edwards Lifesciences Corporation during the second quarter worth $318,000. 83.80% of the stock is currently owned by institutional investors and hedge funds.
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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