Edwards Lifesciences (EW) PT Raised to $155.00 at Barclays
Edwards Lifesciences (NYSE:EW) had its target price hoisted by research analysts at Barclays from $135.00 to $155.00 in a report issued on Friday. The firm presently has an “overweight” rating on the medical research company’s stock. Barclays’ target price suggests a potential upside of 17.58% from the company’s current price.
Several other equities analysts also recently issued reports on the stock. Morgan Stanley increased their price objective on shares of Edwards Lifesciences from $130.00 to $138.00 and gave the company an “overweight” rating in a report on Friday. Canaccord Genuity reiterated a “buy” rating and issued a $174.00 target price (up from $140.00) on shares of Edwards Lifesciences in a research report on Friday. Cowen reiterated a “buy” rating and issued a $150.00 target price on shares of Edwards Lifesciences in a research report on Thursday. SunTrust Banks reiterated a “buy” rating and issued a $150.00 target price on shares of Edwards Lifesciences in a research report on Wednesday. Finally, Evercore ISI assumed coverage on shares of Edwards Lifesciences in a research report on Wednesday, January 3rd. They issued an “outperform” rating and a $140.00 target price for the company. Four equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Edwards Lifesciences presently has an average rating of “Buy” and an average price target of $139.25.
Edwards Lifesciences (EW) opened at $131.83 on Friday. The company has a current ratio of 3.49, a quick ratio of 2.76 and a debt-to-equity ratio of 0.33. The stock has a market cap of $27,897.87, a price-to-earnings ratio of 34.69, a price-to-earnings-growth ratio of 2.11 and a beta of 0.63. Edwards Lifesciences has a twelve month low of $88.67 and a twelve month high of $138.48.
Edwards Lifesciences announced that its board has initiated a stock buyback program on Thursday, December 7th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the medical research company to purchase shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.
In related news, Director Schack Wesley W. Von sold 1,000 shares of the firm’s stock in a transaction dated Thursday, November 9th. The shares were sold at an average price of $104.15, for a total transaction of $104,150.00. Following the completion of the sale, the director now directly owns 2,622 shares in the company, valued at $273,081.30. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Michael A. Mussallem sold 32,900 shares of the firm’s stock in a transaction dated Monday, November 20th. The stock was sold at an average price of $106.86, for a total transaction of $3,515,694.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 164,920 shares of company stock valued at $18,578,747. 2.13% of the stock is owned by company insiders.
A number of hedge funds have recently made changes to their positions in EW. ETF Managers Group LLC purchased a new position in Edwards Lifesciences during the second quarter worth about $112,000. Cerebellum GP LLC purchased a new position in Edwards Lifesciences during the fourth quarter worth about $128,000. Resources Investment Advisors Inc. boosted its stake in Edwards Lifesciences by 66.0% during the fourth quarter. Resources Investment Advisors Inc. now owns 1,170 shares of the medical research company’s stock worth $132,000 after buying an additional 465 shares during the period. Exane Derivatives boosted its stake in Edwards Lifesciences by 381.3% during the fourth quarter. Exane Derivatives now owns 1,213 shares of the medical research company’s stock worth $137,000 after buying an additional 961 shares during the period. Finally, MPS Loria Financial Planners LLC purchased a new position in Edwards Lifesciences during the second quarter worth about $140,000. 81.78% of the stock is owned by institutional investors.
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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.
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