Edwards Lifesciences (NYSE:EW) Stock Rating Upgraded by Wall Street Zen

Key Points

• Wall Street Zen upgraded Edwards Lifesciences from “hold” to “buy.” The broader analyst consensus is “Moderate Buy,” with an average price target of $108.88.
• Edwards beat quarterly estimates, reporting $0.80 earnings per share and $1.72 billion in revenue, up 10.5% year over year. The article also cites strong TMTT growth and a raised sales outlook.
• Trial results suggesting TAVR may benefit some patients with moderate aortic stenosis could expand the market, though management has warned that increasing competition may pressure future growth.

Edwards Lifesciences (NYSE:EW - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a note issued to investors on Sunday, Wall Street Zen reports.

Several other research analysts also recently commented on EW. Jefferies Financial Group boosted their target price on Edwards Lifesciences from $102.00 to $105.00 and gave the stock a "buy" rating in a research note on Friday, July 24th. Argus raised their price target on shares of Edwards Lifesciences from $105.00 to $115.00 and gave the company a "buy" rating in a research note on Friday, August 21st. Royal Bank Of Canada lifted their price target on shares of Edwards Lifesciences from $110.00 to $115.00 and gave the company an "outperform" rating in a report on Thursday. BTIG Research lifted their price target on shares of Edwards Lifesciences from $110.00 to $115.00 and gave the company a "buy" rating in a report on Thursday. Finally, Sanford C. Bernstein upped their price objective on shares of Edwards Lifesciences from $99.00 to $106.00 and gave the stock a "market perform" rating in a research report on Thursday. Twenty-three equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $108.88.

Edwards Lifesciences Stock Performance

Shares of NYSE:EW opened at $101.91 on Friday. The company's 50 day simple moving average is $88.92 and its 200 day simple moving average is $85.78. The stock has a market capitalization of $58.68 billion, a price-to-earnings ratio of 57.58, a price-to-earnings-growth ratio of 2.67 and a beta of 0.85. The company has a debt-to-equity ratio of 0.05, a current ratio of 4.60 and a quick ratio of 3.77. 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 released its earnings results on Wednesday, November 4th. The medical research company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.06. The firm had revenue of $1.72 billion during the quarter, compared to analysts' expectations of $1.68 billion. Edwards Lifesciences had a return on equity of 16.06% and a net margin of 15.30%. The company's quarterly revenue was up 10.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.67 earnings per share. As a group, research analysts predict that Edwards Lifesciences will post 3.02 EPS for the current fiscal year.

Insider Buying and Selling at Edwards Lifesciences

In related news, VP Annette Brüls sold 2,644 shares of the stock in a transaction on Friday, August 28th. The stock was sold at an average price of $89.98, for a total value of $237,907.12. Following the completion of the sale, the vice president directly owned 17,984 shares in the company, valued at $1,618,200.32. This represents a 12.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Daniel J. Lippis sold 619 shares of Edwards Lifesciences stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $92.03, for a total value 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. In the last ninety days, insiders sold 5,045 shares of company stock worth $451,596. 0.31% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Pin Oak Investment Advisors Inc. bought a new position in shares of Edwards Lifesciences in the 2nd quarter worth about $26,000. TrinityBridge Ltd bought a new stake in shares of Edwards Lifesciences during the 2nd quarter valued at about $27,000. GK Wealth Management LLC bought a new stake in shares of Edwards Lifesciences during the 3rd quarter valued at about $26,000. RMG Wealth Management LLC acquired a new stake in Edwards Lifesciences during the first quarter worth approximately $26,000. Finally, Compass Financial Management LLC acquired a new stake in Edwards Lifesciences during the second quarter worth approximately $32,000. Institutional investors and hedge funds own 79.46% of the company's stock.

Edwards Lifesciences News Roundup

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

• Positive Sentiment: Edwards reported Q3 sales growth of 11.2% to $1.72 billion, with adjusted earnings and revenue beating estimates. TMTT sales rose 45.6% and TAVR sales grew 8.8%; the company raised its sales outlook and set adjusted full-year EPS guidance of $2.97–$3.05. Edwards Q3 earnings call highlights
• Positive Sentiment: PROGRESS Trial results found TAVR outperformed active surveillance for at-risk patients with moderate aortic stenosis, including fewer combined death or heart-failure outcomes. The findings could support earlier use of the procedure and expand Edwards’ potential market. Trial data points to earlier TAVR use
• Positive Sentiment: Analysts lifted price targets following the results: UBS raised its target to $118 and JPMorgan to $120, while Piper Sandler reaffirmed its buy-equivalent rating with a $115 target. The latest target increases and reaffirmations add to bullish sentiment. UBS reaffirms buy rating Piper Sandler keeps buy rating
• Negative Sentiment: Management has acknowledged that more competition is coming in TAVR, a potential pressure on market share and future growth, although the recent results and trial data provide positive offsets. CEO comments on TAVR competition

About Edwards Lifesciences

Edwards Lifesciences is a medical technology company focused on therapies for structural heart disease and critical care. Its products include transcatheter and surgical heart valves, as well as technologies used to monitor patients during intensive care and surgery.

The company traces its origins to 1958, when engineer Lowell Edwards and surgeon Albert Starr began developing an artificial heart valve. Their work led to the Starr-Edwards valve, introduced in 1960. Edwards Lifesciences is headquartered in Irvine, California, and serves clinicians and patients around the world.

Its structural heart portfolio includes transcatheter aortic valve replacement (TAVR) systems and therapies addressing mitral and tricuspid valve disease.

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