Sanford C. Bernstein Issues Positive Forecast for Edwards Lifesciences (NYSE:EW) Stock Price

Key Points

• Sanford C. Bernstein raised its price target on Edwards Lifesciences from $99 to $106, while maintaining a “market perform” rating; the new target implies 7.3% upside from the prior close.
• Edwards reported quarterly EPS of $0.80 and revenue of $1.72 billion, beating analyst estimates; revenue grew 10.5% year over year, and the company raised its full-year outlook.
• Analyst sentiment is broadly positive, with a “Moderate Buy” consensus and an average target of $104.92, though anticipated competition in TAVR could weigh on growth.

Edwards Lifesciences (NYSE:EW - Get Free Report) had its price target hoisted by stock analysts at Sanford C. Bernstein from $99.00 to $106.00 in a report released on Thursday, Benzinga reports. The firm presently has a "market perform" rating on the medical research company's stock. Sanford C. Bernstein's price objective suggests a potential upside of 7.30% from the company's previous close.

Several other analysts have also weighed in on EW. Weiss Ratings reiterated a "hold (c)" rating on shares of Edwards Lifesciences in a research note on Thursday, October 15th. The Goldman Sachs Group raised their price target on shares of Edwards Lifesciences from $98.00 to $102.00 and gave the stock a "buy" rating in a research report on Tuesday, July 14th. Jefferies Financial Group lifted their price target on shares of Edwards Lifesciences from $102.00 to $105.00 and gave the company a "buy" rating in a report on Friday, July 24th. Truist Financial set a $113.00 price objective on shares of Edwards Lifesciences and gave the company a "buy" rating in a research report on Wednesday. Finally, UBS Group reiterated a "buy" rating and set a $110.00 price objective (up from $90.00) on shares of Edwards Lifesciences in a research note on Thursday, October 8th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $104.92.

Edwards Lifesciences Stock Down 0.6%

Shares of EW stock traded down $0.58 during trading hours on Thursday, hitting $98.79. 4,140,956 shares of the company were exchanged, compared to its average volume of 4,506,118. The stock has a market capitalization of $56.88 billion, a price-to-earnings ratio of 56.96, a P/E/G ratio of 2.49 and a beta of 0.85. Edwards Lifesciences has a one year low of $74.66 and a one year high of $104.17. The business's 50-day simple moving average is $88.48 and its two-hundred 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.

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

Insider Activity

In other news, VP Annette Brüls sold 2,644 shares of the company's stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $89.98, for a total transaction of $237,907.12. Following the completion of the transaction, the vice president owned 17,984 shares in the company, valued at approximately $1,618,200.32. This represents a 12.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Daniel Lippis sold 619 shares of the stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $92.03, for a total transaction of $56,966.57. Following the completion of the sale, the vice president directly owned 40,034 shares in the company, valued at approximately $3,684,329.02. This trade represents a 1.52% decrease in their position. 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 quarter, insiders sold 5,045 shares of company stock valued at $451,596. 0.31% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Edwards Lifesciences

Large investors have recently made changes to their positions in the company. Lido Advisors LLC raised its position in Edwards Lifesciences by 5.2% in the 3rd quarter. Lido Advisors LLC now owns 34,192 shares of the medical research company's stock valued at $2,951,000 after buying an additional 1,691 shares during the last quarter. Csenge Advisory Group boosted its position in Edwards Lifesciences by 127.8% during the 3rd quarter. Csenge Advisory Group now owns 14,437 shares of the medical research company's stock worth $1,246,000 after acquiring an additional 8,099 shares during the last quarter. AEGON ASSET MANAGEMENT UK Plc bought a new position in shares of Edwards Lifesciences during the 3rd quarter worth approximately $397,000. Kestra Investment Management LLC grew its stake in shares of Edwards Lifesciences by 9.2% during the 3rd quarter. Kestra Investment Management LLC now owns 2,904 shares of the medical research company's stock worth $251,000 after acquiring an additional 244 shares in the last quarter. Finally, Fulcrum Asset Management LLP raised its holdings in shares of Edwards Lifesciences by 18.4% in the third quarter. Fulcrum Asset Management LLP now owns 8,937 shares of the medical research company's stock valued at $787,000 after purchasing an additional 1,386 shares during the last quarter. 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 third-quarter adjusted earnings of $0.80 per share, above the $0.74 consensus, and revenue of $1.72 billion versus estimates of $1.68 billion. Revenue increased 10.5% year over year, with structural heart therapy sales supporting growth and margin expansion. The company raised its full-year outlook; reports also highlighted 44% growth in transcatheter mitral and tricuspid therapies. Edwards Q3 Earnings & Revenues Surpass Estimates, Stock Climbs
• Positive Sentiment: Analysts turned more bullish after the results: Baird upgraded EW to outperform, Truist to strong buy, and BTIG maintains a buy rating. Raymond James and JPMorgan also raised their price targets, adding to optimism about the outlook. Baird analyst rating JPMorgan price target
• Positive Sentiment: One-year CLASP II TR trial results showed Edwards’ PASCAL tricuspid repair system outperformed medical therapy, a potential product and clinical catalyst. PASCAL trial results
• Negative Sentiment: Management expects more competition in TAVR, which could pressure market share or growth. Separately, RBC said the Progress trial data may not significantly expand the TAVR market, tempering expectations for broader market growth. CEO discusses TAVR competition

Edwards Lifesciences Company Profile

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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