BMO Capital Markets Reaffirms Buy Rating for Edwards Lifesciences (EW)

BMO Capital Markets reissued their buy rating on shares of Edwards Lifesciences (NYSE:EW) in a research note issued to investors on Friday. The brokerage currently has a $137.00 price target on the medical research company’s stock.

EW has been the topic of a number of other reports. Canaccord Genuity reaffirmed a buy rating and issued a $155.00 target price on shares of Edwards Lifesciences in a research report on Sunday, October 8th. Cowen reissued a buy rating and set a $135.00 price target on shares of Edwards Lifesciences in a research report on Thursday, October 12th. Barclays dropped their price target on Edwards Lifesciences from $120.00 to $118.00 and set an equal weight rating on the stock in a research report on Wednesday, October 25th. BidaskClub lowered Edwards Lifesciences from a buy rating to a hold rating in a research report on Friday, August 25th. Finally, Royal Bank Of Canada reissued a buy rating and set a $130.00 price target on shares of Edwards Lifesciences in a research report on Friday, September 1st. Six research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of Buy and an average price target of $126.43.

Shares of Edwards Lifesciences (NYSE EW) traded up $0.55 on Friday, hitting $118.58. The company’s stock had a trading volume of 207,689 shares, compared to its average volume of 1,642,867. Edwards Lifesciences has a one year low of $86.55 and a one year high of $121.45. The firm has a market cap of $24,977.50, a price-to-earnings ratio of 32.69, a price-to-earnings-growth ratio of 2.11 and a beta of 0.51. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.76 and a current ratio of 3.49.

Edwards Lifesciences (NYSE:EW) last announced its earnings results on Tuesday, October 24th. The medical research company reported $0.84 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.86 by ($0.02). Edwards Lifesciences had a net margin of 22.47% and a return on equity of 27.22%. The business had revenue of $821.50 million during the quarter, compared to analyst estimates of $833.85 million. During the same period in the previous year, the company earned $0.68 earnings per share. The business’s revenue for the quarter was up 11.1% on a year-over-year basis. analysts anticipate that Edwards Lifesciences will post 3.76 earnings per share for the current year.

Edwards Lifesciences declared that its Board of Directors has approved a share buyback program on Thursday, December 7th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the medical research company to repurchase shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

In related news, CEO Michael A. Mussallem sold 32,900 shares of the company’s stock in a transaction on Monday, October 30th. The stock was sold at an average price of $100.93, for a total transaction of $3,320,597.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Donald E. Bobo, Jr. sold 5,300 shares of the stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $116.45, for a total value of $617,185.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 139,580 shares of company stock valued at $14,849,205. 2.13% of the stock is owned by company insiders.

Several large investors have recently added to or reduced their stakes in EW. Bank of New York Mellon Corp grew its stake in shares of Edwards Lifesciences by 161.7% in the second quarter. Bank of New York Mellon Corp now owns 5,304,536 shares of the medical research company’s stock worth $627,207,000 after purchasing an additional 3,277,726 shares in the last quarter. Koch Industries Inc. grew its stake in shares of Edwards Lifesciences by 28,363.1% in the second quarter. Koch Industries Inc. now owns 1,397,254 shares of the medical research company’s stock worth $1,386,000 after purchasing an additional 1,392,345 shares in the last quarter. Artisan Partners Limited Partnership grew its stake in shares of Edwards Lifesciences by 90.6% in the second quarter. Artisan Partners Limited Partnership now owns 1,278,532 shares of the medical research company’s stock worth $151,174,000 after purchasing an additional 607,784 shares in the last quarter. Janus Henderson Group PLC grew its stake in shares of Edwards Lifesciences by 1,135.0% in the third quarter. Janus Henderson Group PLC now owns 619,703 shares of the medical research company’s stock worth $67,739,000 after purchasing an additional 569,525 shares in the last quarter. Finally, Old Mutual Global Investors UK Ltd. grew its stake in shares of Edwards Lifesciences by 83.0% in the third quarter. Old Mutual Global Investors UK Ltd. now owns 1,100,885 shares of the medical research company’s stock worth $120,337,000 after purchasing an additional 499,436 shares in the last quarter. 81.82% of the stock is owned by institutional investors.

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About Edwards Lifesciences

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.

Analyst Recommendations for Edwards Lifesciences (NYSE:EW)

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