Edwards Lifesciences (NYSE:EW) Price Target Raised to $120.00

Key Points

• JPMorgan raised Edwards Lifesciences’ price target from $105 to $120 and maintained an overweight rating, implying about 19% upside from the then-current share price. The analyst consensus was “Moderate Buy,” with a $107.76 average target.
• Edwards beat quarterly estimates, reporting EPS of $0.80 versus $0.74 expected and revenue of $1.72 billion versus $1.68 billion expected. The company also raised its full-year adjusted EPS outlook to $2.97–$3.05.
• Growth in key heart therapies and favorable clinical findings could support further expansion, though management warned that increasing TAVR competition may pose a risk to future growth and market share.

Edwards Lifesciences (NYSE:EW - Get Free Report) had its price objective lifted by analysts at JPMorgan Chase & Co. from $105.00 to $120.00 in a report issued on Thursday, Benzinga reports. The brokerage presently has an "overweight" rating on the medical research company's stock. JPMorgan Chase & Co.'s target price would suggest a potential upside of 19.16% from the stock's current price.

Other equities analysts also recently issued reports about the company. Wall Street Zen downgraded Edwards Lifesciences from a "buy" rating to a "hold" rating in a report on Saturday, October 31st. Barclays raised their price objective on shares of Edwards Lifesciences from $110.00 to $120.00 and gave the stock an "overweight" rating in a report on Thursday. BTIG Research boosted their price objective on shares of Edwards Lifesciences from $110.00 to $115.00 and gave the stock a "buy" rating in a research report on Thursday. Leerink Partners upped their target price on shares of Edwards Lifesciences from $101.00 to $112.00 and gave the company an "outperform" rating in a report on Thursday. Finally, UBS Group reaffirmed a "buy" rating and issued a $110.00 target price (up from $90.00) on shares of Edwards Lifesciences in a research report on Thursday, October 8th. One analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, Edwards Lifesciences currently has an average rating of "Moderate Buy" and a consensus target price of $107.76.

Edwards Lifesciences Stock Up 1.3%

Shares of EW traded up $1.33 during midday trading on Thursday, hitting $100.70. The company had a trading volume of 9,233,527 shares, compared to its average volume of 4,532,402. The company's 50-day simple moving average is $88.48 and its 200-day simple moving average is $85.61. The company has a debt-to-equity ratio of 0.06, a quick ratio of 3.77 and a current ratio of 4.52. The firm has a market capitalization of $57.99 billion, a P/E ratio of 57.88, a P/E/G ratio of 2.49 and a beta of 0.85. Edwards Lifesciences has a 1 year low of $74.66 and a 1 year high of $104.17.

Edwards Lifesciences (NYSE:EW - Get Free Report) last announced its quarterly earnings data on Wednesday, November 4th. The medical research company reported $0.80 EPS for the quarter, beating analysts' consensus estimates of $0.74 by $0.06. The company had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.68 billion. Edwards Lifesciences had a net margin of 15.43% and a return on equity of 15.68%. The company's quarterly revenue was up 10.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.67 EPS. As a group, sell-side analysts expect that Edwards Lifesciences will post 3.00 EPS for the current year.

Insider Transactions at Edwards Lifesciences

In related news, SVP Andrew M. Dahl sold 544 shares of the stock in a transaction on Monday, August 31st. The shares were sold at an average price of $91.06, for a total transaction of $49,536.64. Following the completion of the sale, the senior vice president owned 14,868 shares in the company, valued at $1,353,880.08. This represents a 3.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Daniel J. Lippis sold 619 shares of the firm's stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $92.03, for a total transaction of $56,966.57. Following the transaction, the vice president directly owned 40,034 shares in the company, valued at $3,684,329.02. The trade was a 1.52% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 5,045 shares of company stock worth $451,596. Insiders own 0.31% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Flagship Harbor Advisors LLC increased its holdings in shares of Edwards Lifesciences by 1.2% in the third quarter. Flagship Harbor Advisors LLC now owns 10,615 shares of the medical research company's stock valued at $916,000 after buying an additional 125 shares in the last quarter. Fifth Third Wealth Advisors LLC lifted its position in shares of Edwards Lifesciences by 1.8% during the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 7,268 shares of the medical research company's stock valued at $627,000 after acquiring an additional 132 shares during the last quarter. Calamos Wealth Management LLC boosted its stake in shares of Edwards Lifesciences by 6.1% during the 3rd quarter. Calamos Wealth Management LLC now owns 2,438 shares of the medical research company's stock worth $210,000 after acquiring an additional 141 shares in the last quarter. Signaturefd LLC boosted its stake in shares of Edwards Lifesciences by 1.4% during the 3rd quarter. Signaturefd LLC now owns 10,034 shares of the medical research company's stock worth $866,000 after acquiring an additional 142 shares in the last quarter. Finally, NorthRock Partners LLC grew its holdings in shares of Edwards Lifesciences by 1.0% in the 2nd quarter. NorthRock Partners LLC now owns 16,191 shares of the medical research company's stock worth $1,465,000 after acquiring an additional 153 shares during the last quarter. 79.46% of the stock is currently owned by institutional investors and hedge funds.

Key Stories Impacting Edwards Lifesciences

Here are the key news stories impacting Edwards Lifesciences this week:

• Positive Sentiment: Q3 results and outlook beat expectations. Edwards reported adjusted EPS of $0.80 versus $0.74 expected and revenue of $1.72 billion versus $1.68 billion, with sales up 11.2% year over year. Strength in structural heart therapies supported margin growth, and the company raised its full-year adjusted EPS outlook to $2.97–$3.05. Edwards Q3 earnings and revenue
• Positive Sentiment: Growth across key therapies supports the outlook. TMTT sales surged 45.6% and TAVR sales grew 8.8%. The company also expects procedure volumes to benefit from positive study results and expanded Medicare reimbursement. Q3 earnings call highlights
• Positive Sentiment: Clinical findings may broaden the addressable market. PROGRESS Trial data indicated TAVR reduced combined death or heart-failure outcomes versus active surveillance in at-risk patients with moderate aortic stenosis, with fewer heart-failure hospitalizations and better quality-of-life measures. PROGRESS Trial data
• Positive Sentiment: Analysts raised targets and ratings. Several firms lifted price targets, including Barclays to $120, Citigroup to $117 and JPMorgan to $120. Baird and Truist upgraded the stock, while multiple firms reiterated positive ratings, reflecting increased confidence after the quarterly report.
• Negative Sentiment: Competition remains a risk. Edwards’ CEO cautioned that more competition is coming in the TAVR market, which could pressure future growth or market share. CEO comments on TAVR competition

About Edwards Lifesciences

Edwards Lifesciences Corporation NYSE: EW is a medical technology company focused on therapies for structural heart disease and critical care. The company develops and manufactures products designed to treat conditions affecting the heart's valves, including aortic, mitral and tricuspid valve disorders.

Its portfolio includes transcatheter aortic valve replacement systems, transcatheter mitral and tricuspid therapies, surgical heart valves and valve-repair technologies. Edwards also provides related delivery systems and other medical devices used by physicians in minimally invasive and open-heart procedures.

Founded in 1958 by Miles Lowell Edwards, the company is headquartered in Irvine, California, and serves healthcare providers and patients internationally.

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