Edwards Lifesciences (EW) Rating Increased to Overweight at Barclays
Edwards Lifesciences (NYSE:EW) was upgraded by research analysts at Barclays from an “equal weight” rating to an “overweight” rating in a note issued to investors on Thursday. The brokerage currently has a $135.00 target price on the medical research company’s stock, up from their prior target price of $125.00. Barclays’ price objective would indicate a potential upside of 16.52% from the stock’s current price.
EW has been the topic of a number of other reports. Canaccord Genuity restated a “buy” rating and issued a $155.00 price target on shares of Edwards Lifesciences in a research note on Sunday, October 8th. Cowen restated a “buy” rating and issued a $135.00 price target on shares of Edwards Lifesciences in a research note on Thursday, October 12th. JPMorgan Chase & Co. cut Edwards Lifesciences from an “overweight” rating to a “neutral” rating in a research note on Tuesday. Deutsche Bank cut their price target on Edwards Lifesciences from $122.00 to $115.00 and set a “hold” rating on the stock in a research note on Thursday, October 26th. Finally, BMO Capital Markets restated a “buy” rating and issued a $137.00 price target on shares of Edwards Lifesciences in a research note on Friday, December 8th. Six analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $129.57.
Shares of Edwards Lifesciences (NYSE EW) opened at $115.86 on Thursday. The stock has a market capitalization of $24,423.05, a price-to-earnings ratio of 31.97, a PEG ratio of 1.85 and a beta of 0.51. The company has a quick ratio of 2.76, a current ratio of 3.49 and a debt-to-equity ratio of 0.33. Edwards Lifesciences has a 52 week low of $86.55 and a 52 week high of $121.45.
Edwards Lifesciences (NYSE:EW) last posted its quarterly earnings results on Tuesday, October 24th. The medical research company reported $0.84 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.86 by ($0.02). Edwards Lifesciences had a net margin of 22.47% and a return on equity of 27.22%. The business had revenue of $821.50 million during the quarter, compared to analyst estimates of $833.85 million. During the same quarter in the prior year, the business earned $0.68 earnings per share. The firm’s quarterly revenue was up 11.1% on a year-over-year basis. analysts anticipate that Edwards Lifesciences will post 3.76 EPS for the current year.
Edwards Lifesciences declared that its Board of Directors has initiated a stock repurchase program on Thursday, December 7th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the medical research company to reacquire shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.
In other Edwards Lifesciences news, VP Donald E. Bobo, Jr. sold 5,300 shares of the firm’s stock in a transaction dated Monday, October 30th. The stock was sold at an average price of $101.12, for a total transaction of $535,936.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Michael A. Mussallem sold 32,900 shares of the firm’s stock in a transaction dated Monday, October 30th. The stock was sold at an average price of $100.93, for a total value of $3,320,597.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 177,680 shares of company stock worth $19,285,511. Corporate insiders own 2.13% of the company’s stock.
Several hedge funds have recently modified their holdings of EW. Koch Industries Inc. grew its holdings in shares of Edwards Lifesciences by 28,363.1% during the second quarter. Koch Industries Inc. now owns 1,397,254 shares of the medical research company’s stock worth $1,386,000 after purchasing an additional 1,392,345 shares during the last quarter. Atlantic Trust Group LLC grew its holdings in shares of Edwards Lifesciences by 734.7% during the third quarter. Atlantic Trust Group LLC now owns 914,989 shares of the medical research company’s stock worth $100,018,000 after buying an additional 805,370 shares during the last quarter. Artisan Partners Limited Partnership grew its holdings in shares of Edwards Lifesciences by 90.6% during the second quarter. Artisan Partners Limited Partnership now owns 1,278,532 shares of the medical research company’s stock worth $151,174,000 after buying an additional 607,784 shares during the last quarter. Janus Henderson Group PLC grew its holdings in shares of Edwards Lifesciences by 1,135.0% during the third quarter. Janus Henderson Group PLC now owns 619,703 shares of the medical research company’s stock worth $67,739,000 after buying an additional 569,525 shares during the last quarter. Finally, Old Mutual Global Investors UK Ltd. grew its holdings in shares of Edwards Lifesciences by 83.0% during the third quarter. Old Mutual Global Investors UK Ltd. now owns 1,100,885 shares of the medical research company’s stock worth $120,337,000 after buying an additional 499,436 shares during the last quarter. 81.01% of the stock is currently owned by institutional investors.
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Edwards Lifesciences 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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