Royal Bank of Canada Boosts Edwards Lifesciences (EW) Price Target to $175.00

Edwards Lifesciences (NYSE:EW) had its price target lifted by equities researchers at Royal Bank of Canada to $175.00 in a research report issued on Thursday, The Fly reports. The brokerage presently has an “outperform” rating on the medical research company’s stock. Royal Bank of Canada’s price objective would indicate a potential upside of 11.32% from the company’s current price.

A number of other analysts have also recently weighed in on the company. Zacks Investment Research raised Edwards Lifesciences from a “hold” rating to a “buy” rating and set a $185.00 price objective for the company in a research report on Wednesday, September 26th. Bank of America cut Edwards Lifesciences from a “buy” rating to a “neutral” rating in a research report on Tuesday, October 2nd. Guggenheim cut Edwards Lifesciences from a “buy” rating to a “neutral” rating in a research report on Tuesday, October 2nd. Northland Securities reissued a “hold” rating and issued a $120.00 price target on shares of Edwards Lifesciences in a report on Thursday, October 11th. Finally, SunTrust Banks raised their price target on Edwards Lifesciences to $200.00 and gave the company a “buy” rating in a report on Friday, September 28th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $162.85.

Edwards Lifesciences stock opened at $157.21 on Thursday. Edwards Lifesciences has a twelve month low of $110.68 and a twelve month high of $175.00. The company has a quick ratio of 1.85, a current ratio of 2.31 and a debt-to-equity ratio of 0.18. The company has a market cap of $34.14 billion, a price-to-earnings ratio of 41.37, a P/E/G ratio of 2.15 and a beta of 0.90.

Edwards Lifesciences (NYSE:EW) last posted its quarterly earnings data on Tuesday, October 23rd. The medical research company reported $1.07 earnings per share for the quarter, topping analysts’ consensus estimates of $1.02 by $0.05. Edwards Lifesciences had a return on equity of 30.11% and a net margin of 20.67%. The company had revenue of $906.60 million during the quarter, compared to analysts’ expectations of $927.56 million. During the same period last year, the firm earned $0.84 EPS. The firm’s revenue for the quarter was up 10.4% on a year-over-year basis. As a group, research analysts forecast that Edwards Lifesciences will post 4.7 EPS for the current year.

In related news, Director William J. Phd Link sold 13,578 shares of the firm’s stock in a transaction that occurred on Monday, November 19th. The stock was sold at an average price of $149.92, for a total value of $2,035,613.76. Following the completion of the transaction, the director now directly owns 16,730 shares of the company’s stock, valued at approximately $2,508,161.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael A. Mussallem sold 32,900 shares of the firm’s stock in a transaction that occurred on Wednesday, September 12th. The shares were sold at an average price of $144.02, for a total value of $4,738,258.00. Following the completion of the transaction, the chief executive officer now directly owns 76,026 shares of the company’s stock, valued at $10,949,264.52. The disclosure for this sale can be found here. Insiders sold a total of 187,156 shares of company stock valued at $27,603,513 over the last three months. Insiders own 1.84% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Honkamp Krueger Financial Services Inc. purchased a new position in Edwards Lifesciences in the 3rd quarter valued at approximately $106,000. Private Capital Group LLC purchased a new position in Edwards Lifesciences in the 2nd quarter valued at approximately $112,000. Centaurus Financial Inc. purchased a new position in Edwards Lifesciences in the 2nd quarter valued at approximately $114,000. SRS Capital Advisors Inc. increased its stake in Edwards Lifesciences by 317.5% in the 3rd quarter. SRS Capital Advisors Inc. now owns 668 shares of the medical research company’s stock valued at $116,000 after purchasing an additional 508 shares in the last quarter. Finally, TLP Group LLC increased its stake in Edwards Lifesciences by 163.6% in the 3rd quarter. TLP Group LLC now owns 680 shares of the medical research company’s stock valued at $118,000 after purchasing an additional 422 shares in the last quarter. 82.55% of the stock is owned by hedge funds and other institutional investors.

About Edwards Lifesciences

Edwards Lifesciences Corporation provides products and technologies to treat structural heart disease and critically ill patients in the United States and internationally. It offers transcatheter heart valve therapy products comprising transcatheter aortic heart valves and related delivery systems for the nonsurgical replacement of heart valves.

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The Fly

Analyst Recommendations for Edwards Lifesciences (NYSE:EW)

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