StockNews.com Initiates Coverage on Edwards Lifesciences (NYSE:EW)

Equities researchers at StockNews.com started coverage on shares of Edwards Lifesciences (NYSE:EWGet Rating) in a research note issued on Thursday. The firm set a “hold” rating on the medical research company’s stock.

A number of other research firms also recently issued reports on EW. Canaccord Genuity Group lowered their target price on shares of Edwards Lifesciences from $78.00 to $73.00 and set a “hold” rating for the company in a report on Monday, December 12th. Wells Fargo & Company downgraded shares of Edwards Lifesciences from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $97.00 to $78.00 in a report on Wednesday, March 8th. Canaccord Genuity Group boosted their target price on shares of Edwards Lifesciences from $68.00 to $76.00 and gave the company a “hold” rating in a report on Wednesday, February 1st. Morgan Stanley boosted their target price on shares of Edwards Lifesciences from $92.00 to $95.00 and gave the company an “overweight” rating in a report on Friday, January 6th. Finally, Sanford C. Bernstein downgraded shares of Edwards Lifesciences from an “outperform” rating to an “underperform” rating and lowered their target price for the company from $95.00 to $66.00 in a report on Tuesday, January 31st. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $88.95.

Edwards Lifesciences Stock Performance

NYSE:EW opened at $79.48 on Thursday. The firm has a 50 day simple moving average of $78.14 and a 200-day simple moving average of $79.52. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.03 and a quick ratio of 2.17. The firm has a market cap of $48.35 billion, a PE ratio of 32.57, a P/E/G ratio of 4.33 and a beta of 1.01. Edwards Lifesciences has a 1-year low of $67.13 and a 1-year high of $131.10.

Edwards Lifesciences (NYSE:EWGet Rating) last posted its quarterly earnings data on Tuesday, January 31st. The medical research company reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.03. The business had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.33 billion. Edwards Lifesciences had a net margin of 28.27% and a return on equity of 26.05%. The company’s revenue was up 1.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.51 earnings per share. On average, equities analysts expect that Edwards Lifesciences will post 2.52 EPS for the current year.

Insider Activity

In other news, VP Daveen Chopra sold 4,000 shares of the company’s stock in a transaction on Wednesday, February 15th. The shares were sold at an average price of $76.01, for a total value of $304,040.00. Following the completion of the transaction, the vice president now directly owns 18,911 shares in the company, valued at $1,437,425.11. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, VP Daveen Chopra sold 4,000 shares of the company’s stock in a transaction on Wednesday, February 15th. The shares were sold at an average price of $76.01, for a total value of $304,040.00. Following the completion of the transaction, the vice president now directly owns 18,911 shares in the company, valued at $1,437,425.11. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Jean-Luc M. Lemercier sold 6,640 shares of the company’s stock in a transaction on Wednesday, March 8th. The shares were sold at an average price of $76.96, for a total transaction of $511,014.40. Following the completion of the transaction, the vice president now owns 168,875 shares of the company’s stock, valued at $12,996,620. The disclosure for this sale can be found here. Over the last three months, insiders sold 101,821 shares of company stock worth $7,902,704. 1.29% of the stock is currently owned by company insiders.

Institutional Trading of Edwards Lifesciences

Several institutional investors have recently added to or reduced their stakes in EW. Sequoia Financial Advisors LLC raised its holdings in Edwards Lifesciences by 11.4% in the first quarter. Sequoia Financial Advisors LLC now owns 9,181 shares of the medical research company’s stock valued at $1,081,000 after acquiring an additional 941 shares in the last quarter. Zions Bancorporation N.A. raised its holdings in shares of Edwards Lifesciences by 34.7% during the first quarter. Zions Bancorporation N.A. now owns 1,738 shares of the medical research company’s stock worth $204,000 after purchasing an additional 448 shares during the period. Covestor Ltd raised its holdings in shares of Edwards Lifesciences by 18.2% during the first quarter. Covestor Ltd now owns 1,223 shares of the medical research company’s stock worth $144,000 after purchasing an additional 188 shares during the period. Mather Group LLC. raised its holdings in shares of Edwards Lifesciences by 53.5% during the first quarter. Mather Group LLC. now owns 7,182 shares of the medical research company’s stock worth $846,000 after purchasing an additional 2,503 shares during the period. Finally, Mackenzie Financial Corp raised its holdings in shares of Edwards Lifesciences by 3.1% during the first quarter. Mackenzie Financial Corp now owns 655,567 shares of the medical research company’s stock worth $77,173,000 after purchasing an additional 19,798 shares during the period. 80.35% of the stock is owned by institutional investors and hedge funds.

Edwards Lifesciences Company Profile

(Get Rating)

Edwards Lifesciences Corp. engages in patient-focused medical innovations for heart disease and critical care monitoring. Its products are categorized into four main areas: Transcatheter Aortic Valve Replacement, Transcatheter Mitral and Tricuspid Therapies, Surgical Structural Heart, and Critical Care.

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