Edwards Lifesciences (EW) Downgraded by Zacks Investment Research to Hold
According to Zacks, “Edwards Lifesciences has reported better-than-expected first-quarter 2019 figures. The company has been seeing strong transcatheter valve sales in the domestic and overseas markets. It has registered strong sales within its Critical Care division, boosted by a surge in HemoSphere sales. Currently, Edwards Lifesciences awaits the full-market launch of the HemoSphere platform with FloTrac System and Acumen Hypotension Predictive Index. The company is also upbeat about the acquisition of CASMED, expected to strengthen its position in smart monitoring technologies within the critical care platform. Further, we are pleased with Edwards Lifesciences’ recent receipt of the CE Mark for PASCAL. Overall, in the past three months, Edwards Lifesciences outperformed its industry. Meanwhile, persistent supply constraints dented Cardioband system sales. This apart, tough competition in the cardiac devices market and reimbursement issues raise concerns.”
EW has been the topic of a number of other reports. Bank of America raised Edwards Lifesciences from a neutral rating to a buy rating and raised their price target for the stock from $180.00 to $190.00 in a research note on Friday, January 18th. Raymond James decreased their price target on Edwards Lifesciences from $210.00 to $200.00 and set an outperform rating on the stock in a research note on Wednesday, April 24th. Barclays raised their price target on Edwards Lifesciences from $150.00 to $160.00 and gave the stock an underweight rating in a research note on Monday, March 25th. Morgan Stanley raised their price target on Edwards Lifesciences from $180.00 to $197.00 and gave the stock an overweight rating in a research note on Monday, March 18th. Finally, UBS Group raised their price target on Edwards Lifesciences from $175.00 to $180.00 and gave the stock a neutral rating in a research note on Tuesday, March 12th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and thirteen have given a buy rating to the company. The company currently has a consensus rating of Hold and an average price target of $187.00.
Edwards Lifesciences (NYSE:EW) last issued its quarterly earnings results on Tuesday, April 23rd. The medical research company reported $1.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.23 by $0.09. Edwards Lifesciences had a return on equity of 31.16% and a net margin of 20.03%. The firm had revenue of $993.00 million for the quarter, compared to analyst estimates of $989.87 million. During the same period last year, the company earned $1.22 EPS. The firm’s quarterly revenue was up 11.0% on a year-over-year basis. Equities analysts predict that Edwards Lifesciences will post 5.28 earnings per share for the current fiscal year.
In other news, VP Donald E. Bobo, Jr. sold 5,369 shares of the firm’s stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $175.06, for a total value of $939,897.14. Following the transaction, the vice president now directly owns 26,043 shares in the company, valued at approximately $4,559,087.58. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Larry L. Wood sold 6,716 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $170.82, for a total value of $1,147,227.12. Following the completion of the transaction, the vice president now owns 122,366 shares in the company, valued at $20,902,560.12. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 153,780 shares of company stock worth $27,129,483. Company insiders own 1.63% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. raised its holdings in shares of Edwards Lifesciences by 4.7% during the 1st quarter. BlackRock Inc. now owns 17,211,498 shares of the medical research company’s stock valued at $3,293,075,000 after buying an additional 780,079 shares during the period. Oregon Public Employees Retirement Fund raised its holdings in shares of Edwards Lifesciences by 21,360.5% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 10,636,891 shares of the medical research company’s stock valued at $69,000 after buying an additional 10,587,326 shares during the period. FMR LLC raised its holdings in shares of Edwards Lifesciences by 7.9% during the 1st quarter. FMR LLC now owns 8,175,796 shares of the medical research company’s stock valued at $1,564,274,000 after buying an additional 598,976 shares during the period. Jennison Associates LLC raised its holdings in shares of Edwards Lifesciences by 40.2% during the 1st quarter. Jennison Associates LLC now owns 5,763,824 shares of the medical research company’s stock valued at $1,102,792,000 after buying an additional 1,651,691 shares during the period. Finally, Norges Bank purchased a new stake in shares of Edwards Lifesciences during the 4th quarter valued at about $559,646,000. Institutional investors own 84.43% of the company’s stock.
Edwards Lifesciences Company Profile
Edwards Lifesciences Corporation provides products and technologies for structural heart disease and critical care monitoring in the United States and internationally. It offers transcatheter heart valve therapy products comprising transcatheter aortic valve replacement, and transcatheter mitral and tricuspid therapies for the nonsurgical replacement of heart valves.
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