Edwards Lifesciences (NYSE:EW) Stock Rating Raised to Strong-Buy at Truist Financial

Truist Financial upgraded shares of Edwards Lifesciences (NYSE:EW) from a hold rating to a strong-buy rating in a research note published on Wednesday morning,Zacks reports.

A number of other equities research analysts have also recently weighed in on EW. Leerink Partners upgraded shares of Edwards Lifesciences from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $87.00 to $101.00 in a report on Friday, July 24th. Royal Bank Of Canada lifted their target price on shares of Edwards Lifesciences from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Monday, July 13th. Argus boosted their price target on Edwards Lifesciences from $105.00 to $115.00 and gave the stock a “buy” rating in a research report on Friday, August 21st. Jefferies Financial Group boosted their price target on Edwards Lifesciences from $102.00 to $105.00 and gave the stock a “buy” rating in a research report on Friday, July 24th. Finally, Evercore restated an “outperform” rating on shares of Edwards Lifesciences in a research note on Friday, October 23rd. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $101.88.

Edwards Lifesciences Stock Performance

Shares of EW stock opened at $99.39 on Wednesday. The company’s fifty day moving average price is $88.48 and its 200-day moving average price is $85.61. The stock has a market cap of $57.23 billion, a PE ratio of 57.12, a price-to-earnings-growth ratio of 2.49 and a beta of 0.85. The company has a current ratio of 4.52, a quick ratio of 3.77 and a debt-to-equity ratio of 0.06. Edwards Lifesciences has a 12 month low of $74.66 and a 12 month high of $100.25.

Edwards Lifesciences (NYSE:EW) last issued its quarterly earnings results on Wednesday, November 4th. The medical research company reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.06. Edwards Lifesciences had a net margin of 15.43% and a return on equity of 15.68%. The company had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.68 billion. During the same period last year, the business earned $0.67 EPS. Edwards Lifesciences’s quarterly revenue was up 10.5% compared to the same quarter last year. On average, equities analysts expect that Edwards Lifesciences will post 3.00 EPS for the current fiscal year.

Insider Activity at Edwards Lifesciences

In other Edwards Lifesciences news, VP Daniel J. Lippis sold 619 shares of Edwards Lifesciences stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $92.03, for a total value of $56,966.57. Following the completion of the sale, the vice president owned 40,034 shares of the company’s stock, valued at approximately $3,684,329.02. This trade represents a 1.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Annette Brüls sold 2,644 shares of the business’s stock in a transaction on Friday, August 28th. The stock was sold at an average price of $89.98, for a total value of $237,907.12. Following the completion of the transaction, the vice president owned 17,984 shares of the company’s stock, valued at $1,618,200.32. This represents a 12.82% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 5,045 shares of company stock valued at $451,596. 0.31% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Edwards Lifesciences

Several institutional investors have recently modified their holdings of EW. RMG Wealth Management LLC bought a new stake in shares of Edwards Lifesciences in the first quarter worth $26,000. Pin Oak Investment Advisors Inc. purchased a new stake in Edwards Lifesciences during the second quarter valued at $26,000. GK Wealth Management LLC purchased a new position in Edwards Lifesciences in the third quarter worth about $26,000. TrinityBridge Ltd purchased a new position in Edwards Lifesciences in the second quarter worth about $27,000. Finally, Meeder Asset Management Inc. grew its stake in shares of Edwards Lifesciences by 175.2% during the 1st quarter. Meeder Asset Management Inc. now owns 366 shares of the medical research company’s stock valued at $29,000 after purchasing an additional 233 shares during the period. 79.46% of the stock is owned by hedge funds and other institutional investors.

Key Headlines Impacting Edwards Lifesciences

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

• Positive Sentiment: Edwards reported third-quarter adjusted earnings of $0.80 per share, above the $0.74 consensus, and revenue of $1.72 billion versus $1.68 billion expected. Revenue grew 10.5% year over year, providing a fundamental boost to sentiment. Earnings results
• Positive Sentiment: New CLASP II TR data showed the PASCAL system for tricuspid valve repair outperformed medical therapy, with benefits sustained through one year. The findings may strengthen the case for the product and support future growth. PASCAL trial results
• Positive Sentiment: Results from the PROGRESS trial indicated TAVR reduced the risk of death or heart-failure events in patients with moderate aortic stenosis, potentially supporting use of the procedure in additional patients. PROGRESS trial results
• Negative Sentiment: RBC said the PROGRESS findings are unlikely to meaningfully expand the market for transcatheter aortic valve replacement, tempering expectations for the trial’s commercial impact. RBC analysis

Edwards Lifesciences Company Profile

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.