Edwards Lifesciences’ (NYSE:EW) “Buy” Rating Reaffirmed at SunTrust Banks

SunTrust Banks reiterated their buy rating on shares of Edwards Lifesciences (NYSE:EW) in a research note issued to investors on Tuesday, April 10th. They currently have a $180.00 target price on the medical research company’s stock. SunTrust Banks also issued estimates for Edwards Lifesciences’ Q1 2018 earnings at $1.12 EPS, Q2 2018 earnings at $1.16 EPS, Q3 2018 earnings at $1.05 EPS, Q4 2018 earnings at $1.21 EPS, FY2018 earnings at $4.55 EPS, Q1 2019 earnings at $1.30 EPS, Q2 2019 earnings at $1.34 EPS, Q3 2019 earnings at $1.22 EPS, Q4 2019 earnings at $1.40 EPS and FY2019 earnings at $5.25 EPS.

Several other research analysts also recently weighed in on the stock. JPMorgan Chase downgraded shares of Edwards Lifesciences from an overweight rating to a neutral rating in a research note on Tuesday, January 2nd. Barclays raised shares of Edwards Lifesciences from an equal weight rating to an overweight rating and upped their price objective for the company from $125.00 to $135.00 in a research note on Thursday, January 4th. Evercore ISI started coverage on shares of Edwards Lifesciences in a research note on Wednesday, January 3rd. They set an outperform rating and a $140.00 price objective for the company. Canaccord Genuity reaffirmed a buy rating and set a $174.00 price objective (up previously from $140.00) on shares of Edwards Lifesciences in a research note on Friday, February 2nd. Finally, Cowen reaffirmed a buy rating and set a $165.00 price objective on shares of Edwards Lifesciences in a research note on Tuesday, March 20th. Four equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of Buy and an average target price of $145.92.

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Shares of EW stock opened at $139.21 on Tuesday. Edwards Lifesciences has a twelve month low of $93.67 and a twelve month high of $143.22. The stock has a market capitalization of $29,008.47, a P/E ratio of 36.35, a PEG ratio of 2.02 and a beta of 0.58. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.80 and a quick ratio of 1.41.

Edwards Lifesciences (NYSE:EW) last announced its earnings results on Thursday, February 1st. The medical research company reported $0.94 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.03. Edwards Lifesciences had a net margin of 18.11% and a return on equity of 27.78%. The firm had revenue of $888.50 million during the quarter, compared to the consensus estimate of $868.45 million. During the same quarter in the previous year, the company posted $0.75 EPS. The firm’s revenue for the quarter was up 15.7% on a year-over-year basis. analysts expect that Edwards Lifesciences will post 4.53 EPS for the current year.

In other Edwards Lifesciences news, VP Donald E. Bobo, Jr. sold 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 4th. The stock was sold at an average price of $134.78, for a total value of $539,120.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Jean-Luc M. Lemercier sold 5,633 shares of the company’s stock in a transaction that occurred on Wednesday, April 11th. The stock was sold at an average price of $139.42, for a total value of $785,352.86. The disclosure for this sale can be found here. In the last three months, insiders have sold 190,936 shares of company stock valued at $25,612,770. Corporate insiders own 1.84% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Spectrum Asset Management Inc. NB CA boosted its holdings in Edwards Lifesciences by 7.4% in the 4th quarter. Spectrum Asset Management Inc. NB CA now owns 5,795 shares of the medical research company’s stock worth $653,000 after acquiring an additional 400 shares during the period. LS Investment Advisors LLC boosted its holdings in Edwards Lifesciences by 6.0% in the 4th quarter. LS Investment Advisors LLC now owns 7,789 shares of the medical research company’s stock worth $878,000 after acquiring an additional 440 shares during the period. Resources Investment Advisors Inc. boosted its holdings in Edwards Lifesciences by 66.0% in the 4th quarter. Resources Investment Advisors Inc. now owns 1,170 shares of the medical research company’s stock worth $132,000 after acquiring an additional 465 shares during the period. Caisse DE Depot ET Placement DU Quebec boosted its holdings in Edwards Lifesciences by 1.9% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 26,902 shares of the medical research company’s stock worth $2,953,000 after acquiring an additional 500 shares during the period. Finally, Park Avenue Securities LLC boosted its holdings in Edwards Lifesciences by 16.5% in the 4th quarter. Park Avenue Securities LLC now owns 3,548 shares of the medical research company’s stock worth $396,000 after acquiring an additional 503 shares during the period. Hedge funds and other institutional investors own 82.98% of the company’s stock.

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Edwards Lifesciences 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.

Analyst Recommendations for Edwards Lifesciences (NYSE:EW)

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