Edwards Lifesciences (NYSE:EW) Upgraded to "Buy" at BTIG Research

Key Points

• Edwards Lifesciences has been upgraded from a "neutral" rating to a "buy" rating by BTIG Research, with a price target of $100, indicating a potential upside of 27.45% from its current stock price.
• A total of fourteen analysts have issued a "buy" rating for the stock, while the consensus price target stands at $85.71, reflecting a "Moderate Buy" average rating.
• In the latest quarterly earnings report, Edwards Lifesciences beat estimates with $0.67 earnings per share and reported revenues of $1.53 billion, indicating an 11.9% year-over-year revenue increase.

BTIG Research upgraded shares of Edwards Lifesciences (NYSE:EW - Free Report) from a neutral rating to a buy rating in a report issued on Tuesday, MarketBeat Ratings reports. The firm currently has $100.00 price objective on the medical research company's stock.

A number of other analysts have also issued reports on EW. JPMorgan Chase & Co. boosted their price target on Edwards Lifesciences from $80.00 to $85.00 and gave the company a "neutral" rating in a report on Friday, July 25th. William Blair upgraded Edwards Lifesciences to a "strong-buy" rating in a report on Friday, July 25th. Mizuho lifted their price objective on Edwards Lifesciences from $87.00 to $95.00 and gave the company an "outperform" rating in a report on Friday, July 25th. Argus upgraded Edwards Lifesciences to a "strong-buy" rating in a report on Thursday, July 10th. Finally, Canaccord Genuity Group lifted their price objective on Edwards Lifesciences from $75.00 to $81.00 and gave the company a "hold" rating in a report on Friday, July 25th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, thirteen have assigned a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $85.71.

Edwards Lifesciences Price Performance

Edwards Lifesciences stock traded down $0.01 during mid-day trading on Tuesday, reaching $79.30. The company had a trading volume of 3,152,852 shares, compared to its average volume of 4,590,378. The business has a fifty day simple moving average of $76.82 and a 200 day simple moving average of $73.74. The company has a current ratio of 4.45, a quick ratio of 3.66 and a debt-to-equity ratio of 0.06. Edwards Lifesciences has a fifty-two week low of $59.41 and a fifty-two week high of $83.00. The company has a market cap of $46.52 billion, a P/E ratio of 11.41, a P/E/G ratio of 3.93 and a beta of 1.11.

Edwards Lifesciences (NYSE:EW - Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The medical research company reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.05. Edwards Lifesciences had a return on equity of 15.25% and a net margin of 72.96%. The company had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.49 billion. During the same quarter in the prior year, the company earned $0.70 EPS. The firm's quarterly revenue was up 11.9% compared to the same quarter last year. On average, equities research analysts predict that Edwards Lifesciences will post 2.45 earnings per share for the current year.

Insider Activity

In other Edwards Lifesciences news, VP Daveen Chopra sold 1,500 shares of the business's stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $75.08, for a total transaction of $112,620.00. Following the transaction, the vice president owned 33,496 shares of the company's stock, valued at $2,514,879.68. The trade was a 4.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Scott B. Ullem sold 11,250 shares of the business's stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $74.40, for a total value of $837,000.00. Following the sale, the chief financial officer owned 41,098 shares of the company's stock, valued at approximately $3,057,691.20. This represents a 21.49% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 34,962 shares of company stock valued at $2,641,387. Insiders own 1.29% of the company's stock.

Institutional Trading of Edwards Lifesciences

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Quantbot Technologies LP purchased a new stake in shares of Edwards Lifesciences during the 1st quarter worth approximately $26,000. Vega Investment Solutions purchased a new position in shares of Edwards Lifesciences during the fourth quarter worth about $27,000. SouthState Corp purchased a new position in shares of Edwards Lifesciences during the first quarter worth about $27,000. Rosenberg Matthew Hamilton bought a new position in shares of Edwards Lifesciences in the second quarter worth approximately $28,000. Finally, Global X Japan Co. Ltd. raised its stake in Edwards Lifesciences by 116.1% in the first quarter. Global X Japan Co. Ltd. now owns 402 shares of the medical research company's stock valued at $29,000 after purchasing an additional 216 shares in the last quarter. 79.46% of the stock is currently owned by institutional investors and hedge funds.

Edwards Lifesciences Company Profile

Edwards Lifesciences Corporation provides products and technologies for structural heart disease and critical care monitoring in the United States, Europe, Japan, and internationally. It offers transcatheter heart valve replacement products for the minimally invasive replacement of aortic heart valves under the Edwards SAPIEN family of valves system; and transcatheter heart valve repair and replacement products to treat mitral and tricuspid valve diseases under the PASCAL PRECISION and Cardioband names.