Edwards Lifesciences (NYSE:EW) Earns Buy Rating from Stifel Nicolaus

Edwards Lifesciences (NYSE:EW)‘s stock had its “buy” rating reiterated by research analysts at Stifel Nicolaus in a research note issued on Friday, February 2nd. They currently have a $155.00 target price on the medical research company’s stock. Stifel Nicolaus’ target price points to a potential upside of 22.75% from the stock’s current price.

EW has been the subject of a number of other research reports. Cowen reiterated a “buy” rating and issued a $150.00 price target on shares of Edwards Lifesciences in a research note on Thursday, February 1st. SunTrust Banks reissued a “buy” rating and set a $150.00 price objective on shares of Edwards Lifesciences in a report on Wednesday, January 31st. Morgan Stanley cut their target price on shares of Edwards Lifesciences from $133.00 to $120.00 and set an “overweight” rating on the stock in a report on Thursday, October 26th. Canaccord Genuity reaffirmed a “buy” rating and issued a $174.00 target price (up from $140.00) on shares of Edwards Lifesciences in a report on Friday, February 2nd. Finally, JPMorgan Chase & Co. cut shares of Edwards Lifesciences from an “overweight” rating to a “neutral” rating in a report on Tuesday, January 2nd. Three equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Edwards Lifesciences has an average rating of “Buy” and an average target price of $141.15.

Shares of Edwards Lifesciences (NYSE:EW) traded up $2.49 during midday trading on Friday, hitting $126.27. 1,447,347 shares of the stock were exchanged, compared to its average volume of 1,370,000. Edwards Lifesciences has a 1-year low of $89.20 and a 1-year high of $138.48. The firm has a market capitalization of $26,720.00, a PE ratio of 43.84, a price-to-earnings-growth ratio of 1.86 and a beta of 0.63. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.81 and a quick ratio of 1.41.

Edwards Lifesciences (NYSE:EW) last released its quarterly earnings data on Thursday, February 1st. The medical research company reported $0.94 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.91 by $0.03. Edwards Lifesciences had a net margin of 18.11% and a return on equity of 27.69%. The firm had revenue of $888.50 million during the quarter, compared to analysts’ expectations of $868.45 million. During the same period last year, the business earned $0.75 earnings per share. Edwards Lifesciences’s revenue was up 15.7% compared to the same quarter last year. equities research analysts expect that Edwards Lifesciences will post 4.49 earnings per share for the current fiscal year.

Edwards Lifesciences declared that its board has approved a share buyback plan on Thursday, December 7th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the medical research company to reacquire shares of its stock through open market purchases. Shares buyback plans are often an indication that the company’s board of directors believes its stock is undervalued.

In related news, VP Larry L. Wood sold 18,960 shares of the stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $104.76, for a total transaction of $1,986,249.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Robert W.A. Sellers sold 12,020 shares of the stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $131.03, for a total transaction of $1,574,980.60. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 175,940 shares of company stock valued at $20,049,578. Corporate insiders own 2.13% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EW. Bank of New York Mellon Corp boosted its holdings in Edwards Lifesciences by 45.7% in the 4th quarter. Bank of New York Mellon Corp now owns 7,580,924 shares of the medical research company’s stock worth $854,444,000 after acquiring an additional 2,377,444 shares during the period. Koch Industries Inc. boosted its holdings in Edwards Lifesciences by 28,363.1% in the 2nd quarter. Koch Industries Inc. now owns 1,397,254 shares of the medical research company’s stock worth $1,386,000 after acquiring an additional 1,392,345 shares during the period. Atlantic Trust Group LLC boosted its holdings in Edwards Lifesciences by 734.7% in the 3rd quarter. Atlantic Trust Group LLC now owns 914,989 shares of the medical research company’s stock worth $100,018,000 after acquiring an additional 805,370 shares during the period. Janus Henderson Group PLC boosted its stake in shares of Edwards Lifesciences by 1,135.0% during the 3rd quarter. Janus Henderson Group PLC now owns 619,703 shares of the medical research company’s stock valued at $67,739,000 after buying an additional 569,525 shares during the last quarter. Finally, Old Mutual Global Investors UK Ltd. boosted its stake in shares of Edwards Lifesciences by 83.0% during the 3rd quarter. Old Mutual Global Investors UK Ltd. now owns 1,100,885 shares of the medical research company’s stock valued at $120,337,000 after buying an additional 499,436 shares during the last quarter. Hedge funds and other institutional investors own 81.52% of the company’s stock.

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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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