SunTrust Banks Weighs in on Edwards Lifesciences Corporation’s Q2 2018 Earnings (EW)

Edwards Lifesciences Corporation (NYSE:EW) – Analysts at SunTrust Banks raised their Q2 2018 earnings estimates for Edwards Lifesciences Corporation in a note issued to investors on Monday. SunTrust Banks analyst B. Nudell now expects that the medical research company will post earnings of $1.09 per share for the quarter, up from their previous forecast of $0.99. SunTrust Banks currently has a “Buy” rating and a $14.00 price objective on the stock. SunTrust Banks also issued estimates for Edwards Lifesciences Corporation’s Q3 2018 earnings at $0.94 EPS and FY2021 earnings at $5.89 EPS.

Edwards Lifesciences Corporation (NYSE:EW) last released its quarterly earnings results on Wednesday, July 26th. The medical research company reported $1.08 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.20. Edwards Lifesciences Corporation had a net margin of 22.16% and a return on equity of 27.17%. The company had revenue of $842 million for the quarter, compared to the consensus estimate of $839.16 million. During the same period in the previous year, the firm earned $0.76 EPS. Edwards Lifesciences Corporation’s revenue was up 10.9% on a year-over-year basis.

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A number of other brokerages have also weighed in on EW. Stifel Nicolaus reiterated a “buy” rating and issued a $130.00 price objective (up from $118.00) on shares of Edwards Lifesciences Corporation in a research report on Thursday, July 27th. Royal Bank Of Canada reiterated a “buy” rating and issued a $130.00 price objective on shares of Edwards Lifesciences Corporation in a research report on Friday, July 28th. Zacks Investment Research upgraded Edwards Lifesciences Corporation from a “hold” rating to a “buy” rating and set a $130.00 price objective on the stock in a research report on Tuesday, July 18th. Jefferies Group LLC lifted their price objective on Edwards Lifesciences Corporation from $115.00 to $132.00 and gave the stock a “buy” rating in a research report on Thursday, July 27th. Finally, Bank of America Corporation lifted their price objective on Edwards Lifesciences Corporation from $120.00 to $140.00 and gave the stock a “buy” rating in a research report on Tuesday, May 30th. Five investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $121.13.

Edwards Lifesciences Corporation (NYSE:EW) traded down 1.323% during mid-day trading on Wednesday, hitting $113.745. 776,223 shares of the company’s stock were exchanged. The stock has a market capitalization of $23.94 billion, a P/E ratio of 34.500 and a beta of 0.63. Edwards Lifesciences Corporation has a 52 week low of $81.12 and a 52 week high of $121.75. The firm has a 50 day moving average of $117.23 and a 200 day moving average of $104.41.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Sabal Trust CO boosted its position in Edwards Lifesciences Corporation by 0.5% in the second quarter. Sabal Trust CO now owns 2,934 shares of the medical research company’s stock valued at $347,000 after buying an additional 14 shares in the last quarter. Alexandria Capital LLC boosted its position in Edwards Lifesciences Corporation by 1.7% in the second quarter. Alexandria Capital LLC now owns 1,146 shares of the medical research company’s stock valued at $136,000 after buying an additional 19 shares in the last quarter. Quadrant Capital Group LLC boosted its position in Edwards Lifesciences Corporation by 3.5% in the first quarter. Quadrant Capital Group LLC now owns 1,209 shares of the medical research company’s stock valued at $109,000 after buying an additional 41 shares in the last quarter. Rehmann Capital Advisory Group boosted its position in Edwards Lifesciences Corporation by 1.6% in the first quarter. Rehmann Capital Advisory Group now owns 3,393 shares of the medical research company’s stock valued at $319,000 after buying an additional 55 shares in the last quarter. Finally, M Holdings Securities Inc. boosted its position in Edwards Lifesciences Corporation by 1.5% in the first quarter. M Holdings Securities Inc. now owns 4,132 shares of the medical research company’s stock valued at $389,000 after buying an additional 62 shares in the last quarter. Hedge funds and other institutional investors own 83.80% of the company’s stock.

In other news, VP Donald E. Bobo, Jr. sold 5,300 shares of the business’s stock in a transaction on Friday, July 28th. The stock was sold at an average price of $114.68, for a total value of $607,804.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Catherine M. Szyman sold 4,681 shares of the business’s stock in a transaction on Monday, July 31st. The stock was sold at an average price of $115.78, for a total value of $541,966.18. The disclosure for this sale can be found here. Insiders sold 178,732 shares of company stock valued at $20,320,171 in the last 90 days. Company insiders own 2.13% of the company’s stock.

Edwards Lifesciences Corporation 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.

Earnings History and Estimates for Edwards Lifesciences Corporation (NYSE:EW)

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