Edwards Lifesciences (NYSE:EW) Upgraded to “Buy” at StockNews.com

Edwards Lifesciences (NYSE:EWGet Rating) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday.

A number of other equities research analysts have also recently issued reports on EW. Canaccord Genuity Group cut Edwards Lifesciences from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $115.00 to $106.00 in a report on Friday, July 29th. William Blair restated an “outperform” rating on shares of Edwards Lifesciences in a report on Tuesday, April 26th. Citigroup reduced their price objective on Edwards Lifesciences from $134.00 to $115.00 and set a “buy” rating for the company in a report on Tuesday, May 17th. Truist Financial reduced their price objective on Edwards Lifesciences from $140.00 to $120.00 and set a “buy” rating for the company in a report on Wednesday, July 20th. Finally, Morgan Stanley reduced their price objective on Edwards Lifesciences from $136.00 to $119.00 and set an “overweight” rating for the company in a report on Friday, July 15th. Three investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. Based on data from MarketBeat, Edwards Lifesciences presently has an average rating of “Moderate Buy” and an average price target of $126.19.

Edwards Lifesciences Stock Up 1.2 %

Shares of NYSE:EW traded up $1.27 during midday trading on Friday, reaching $106.12. The company had a trading volume of 2,023,754 shares, compared to its average volume of 2,724,930. The company has a quick ratio of 2.60, a current ratio of 3.37 and a debt-to-equity ratio of 0.10. The business’s 50 day moving average price is $97.35 and its 200 day moving average price is $105.35. The stock has a market cap of $65.79 billion, a PE ratio of 45.94, a P/E/G ratio of 3.05 and a beta of 1.12. Edwards Lifesciences has a 1-year low of $85.58 and a 1-year high of $131.73.

Edwards Lifesciences (NYSE:EWGet Rating) last announced its quarterly earnings results on Thursday, July 28th. The medical research company reported $0.63 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.01). The business had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.40 billion. Edwards Lifesciences had a return on equity of 24.77% and a net margin of 27.18%. Edwards Lifesciences’s quarterly revenue was down .2% compared to the same quarter last year. During the same period last year, the firm earned $0.64 EPS. Research analysts forecast that Edwards Lifesciences will post 2.51 EPS for the current fiscal year.

Insider Activity at Edwards Lifesciences

In other Edwards Lifesciences news, CEO Michael A. Mussallem sold 32,550 shares of the company’s stock in a transaction on Tuesday, May 10th. The shares were sold at an average price of $94.82, for a total transaction of $3,086,391.00. Following the sale, the chief executive officer now owns 157,353 shares of the company’s stock, valued at $14,920,211.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, VP Bernard J. Zovighian sold 4,809 shares of the stock in a transaction dated Tuesday, May 24th. The shares were sold at an average price of $95.52, for a total transaction of $459,355.68. Following the transaction, the vice president now owns 39,816 shares of the company’s stock, valued at approximately $3,803,224.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael A. Mussallem sold 32,550 shares of the stock in a transaction dated Tuesday, May 10th. The stock was sold at an average price of $94.82, for a total transaction of $3,086,391.00. Following the transaction, the chief executive officer now directly owns 157,353 shares in the company, valued at approximately $14,920,211.46. The disclosure for this sale can be found here. Insiders sold 120,854 shares of company stock worth $11,439,096 over the last three months. Company insiders own 1.29% of the company’s stock.

Hedge Funds Weigh In On Edwards Lifesciences

Several large investors have recently added to or reduced their stakes in the business. M&T Bank Corp lifted its position in Edwards Lifesciences by 255.6% in the 2nd quarter. M&T Bank Corp now owns 229,627 shares of the medical research company’s stock valued at $10,569,000 after acquiring an additional 165,045 shares in the last quarter. Sound View Wealth Advisors Group LLC increased its stake in Edwards Lifesciences by 19.3% in the 2nd quarter. Sound View Wealth Advisors Group LLC now owns 2,561 shares of the medical research company’s stock valued at $244,000 after buying an additional 415 shares during the last quarter. Pinebridge Investments L.P. increased its stake in Edwards Lifesciences by 1,088.2% in the 2nd quarter. Pinebridge Investments L.P. now owns 282,811 shares of the medical research company’s stock valued at $26,892,000 after buying an additional 259,009 shares during the last quarter. NS Partners Ltd increased its stake in Edwards Lifesciences by 19.4% in the 2nd quarter. NS Partners Ltd now owns 222,511 shares of the medical research company’s stock valued at $21,159,000 after buying an additional 36,099 shares during the last quarter. Finally, Mckinley Capital Management LLC Delaware increased its stake in Edwards Lifesciences by 101.0% in the 2nd quarter. Mckinley Capital Management LLC Delaware now owns 46,260 shares of the medical research company’s stock valued at $4,399,000 after buying an additional 23,250 shares during the last quarter. Institutional investors own 82.54% of the company’s stock.

About Edwards Lifesciences

(Get Rating)

Edwards Lifesciences Corporation provides products and technologies for structural heart disease, and critical care and surgical monitoring in the United States, Europe, Japan, and internationally. It offers transcatheter heart valve replacement products for the minimally invasive replacement of heart valves; and transcatheter heart valve repair and replacement products to treat mitral and tricuspid valve diseases.

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