StockNews.com equity analysts stated in a report made available to the public on Thursday that they would begin covering Edwards Lifesciences (NYSE: EW).
The company has provided the medical research company’s stock with a recommendation of “hold,” meaning investors should not sell their shares.
Edwards Lifesciences (NYSE: EW) disseminated the findings of its most recent quarterly earnings report on January 31, which was a Tuesday.
The medical research company’s earnings per share for the quarter came in at $0.64, which was $0.03 higher than the $0.61 that analysts anticipated. Return on equity of 26.05% and a net margin of 28.27% are two indicators that demonstrate how successfully Edwards Lifesciences conducted its business.
The company’s sales for the quarter came in at $1.35 billion, which is significantly higher than the consensus estimate of $1.33 billion for the company’s sales for the quarter.
The company reported a profit of $0.51 per share for the same period in the prior year’s financial statements.
The revenue for the quarter saw a 1.5% increase when measured against the same period in the prior year’s financial year.
Market analysts predict that Edwards Lifesciences will generate 2.52 cents per share for the current fiscal year.
This is based on the company’s historical performance.
Thursday marked the beginning of trading for NYSE: EW for $79.48.
There is a debt-to-equity ratio of zero, a current ratio of 3.03, and a quick ratio of 2.17.
There is no debt, so the debt-to-equity ratio is 0.
The lowest point for Edwards Lifesciences over the past year is $67.13, and the highest point for the company over the past year is $131.10.
The stock’s price has reached $78.14 on its 50-day moving average, while the price has reached $79.52 on its 200-day moving average.
A beta of 1.01, a P/E ratio of 32.57, a PEG ratio of 4.33, and a PEG ratio of 4.33 are all company characteristics.
The company currently has a total market capitalization of $48.35 billion.
During this period, EW has obtained feedback from various supplementary analysts. On Monday, December 12, the price target for Edwards Lifesciences stock was decreased by Canaccord Genuity Group from $80.00 to $73.00; however, the firm maintained its “hold” recommendation regarding the company.
Piper Jaffray published a research note on Monday, January 30, in which they downgraded Edwards Lifesciences from “overweight” to “neutral” and decreased their price objective for the stock from $95.00 to $80.00.
Both of these changes took effect immediately.
In a research note published on Friday, January 6, Morgan Stanley changed their rating for Edwards Lifesciences stock from “underweight” to “overweight” and raised their price objective from $92.00 to $95.00.
Additionally, they raised their price target for the stock from $92.00 to $95.00.
In a research report published on Monday, February 6, Raymond James lowered their recommendation for Edwards Lifesciences from “outperform” to “market perform.” Royal Bank of Canada lowered its “outperform” rating on Edwards Lifesciences shares and decreased their price objective on the company’s stock from