Value Hunters: Look To Edwards Lifesciences Corporation (EW)

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    SSgA Funds Management, Inc. recently announced the acquisition of new stake in Edwards Lifesciences Corporation (NYSE:EW). The institutional investor has increased its shareholding in the Healthcare company by 0.92% to 27.0 million shares with purchase of 0.25 million shares. This fresh investment now brings its stake to 4.36% valued currently at $1.87 billion. In addition, Wellington Management Co. LLP raised its holdings by 5.82 million to 19.21 million shares. And Capital Research & Management Co…. has lifted its position by 15.87% or 2.12 million shares – to 15.5 million shares.

    With over 2.18 million Edwards Lifesciences Corporation (EW) shares trading Friday and a closing price of $78.41 on the day, the dollar volume was approximately $171.32 million. The shares have shown a positive weekly performance of 0.36% and its price on 07/31/20 lost nearly -0.68%. Currently, there are 624.61M common shares owned by the public and among those 617.60M shares have been available to trade.

    An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 25 analysts who have offered their price forecasts for EW have a consensus price objective of $85.48. The analysts have set the share’s price value over the next 12 months at a high of $95.00 and a low of $52.00 should the stock experience a downside. Incidentally, analysts’ outlook for the Edwards Lifesciences Corporation stock is 2.10 for the next 12 months. The average price target is 3.33% above its last price level and an upside to the estimated low will see the stock lose -50.79% over that period. But an upside of 17.46% will see the stock hit the forecast high price target while mean target price for the stock is $88.00.

    Insiders at the company have transacted a total of 309 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 109 of these insider trades were purchases, accounting for 1,154,414 shares. Insider sales of the common stock occurred on 200 occasions, with total insider shares sold totaling 996,819 shares.

    The top 3 mutual fund holders in Edwards Lifesciences Corporation are Vanguard Total Stock Market Index, Vanguard 500 Index Fund, and American Funds Growth Fund of Ame. Vanguard Total Stock Market Index owns 17.66 million shares of the company’s stock, all valued at over $1.22 billion. The company sold -0.38 million shares recently to bring their total holdings to about 2.85% of the shares outstanding. Vanguard 500 Index Fund bought 80762.0 shares to see its total holdings expand to 12.86 million shares valued at over $888.49 million and representing 2.08% of the shares outstanding. American Funds Growth Fund of Ame sold -0.37 million shares to bring its total holdings to over 10.98 million shares at a value of $758.86 million. American Funds Growth Fund of Ame now owns shares totaling to 1.77% of the shares outstanding.

    Shares of Edwards Lifesciences Corporation (NYSE: EW) opened at $79.06, up $0.11 from a prior closing price of $78.95. However, the script later closed the day at $78.41, down -0.68%. The company’s stock has a 5-day price change of 0.36% and 12.37% over the past three months. EW shares are trading 0.83% year to date (YTD), with the 12-month market performance up to 9.37% higher. It has a 12-month low price of $51.51 and touched a high of $82.55 over the same period. Currently, 2.18 million shares have been traded, compared to an average intraday trading volume of 3.08 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 6.88%, 8.63%, and 6.40% respectively.

    Institutional ownership of Edwards Lifesciences Corporation (NYSE: EW) shares accounts for 86.10% of the company’s 624.61M shares outstanding. Mutual fund holders own 37.71%, while other institutional holders and individual stakeholders account for 46.79% and 0.91% respectively.

    It has a market capitalization of $48.08B and a beta (3y monthly) value of 0.87. The stock’s trailing 12-month PE ratio is 67.13, while the earnings-per-share (ttm) stands at $1.17. The company has a PEG of 6.00 and a Quick Ratio of 2.50 with the debt-to-equity ratio at 0.00. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.36% over the week and 2.81% over the month.

    Analysts forecast that Edwards Lifesciences Corporation (EW) will achieve an EPS of $0.44 for the current quarter, $0.55 for the next quarter and $2.17 for 2021. The lowest estimate earnings-per-share for the quarter is $0.26 while analysts give the company a high EPS estimate of $0.48. Comparatively, EPS for the current quarter was $0.47 a year ago. Earnings per share for the fiscal year are expected to increase by 43.20%, and 22.28% over the next financial year. EPS should grow at an annualized rate of 11.18% over the next five years, compared to 5.80% over the past 5-year period.

    If you are looking to buy this stock, then you may note that the average analyst recommendation by 25 brokerage firm advisors rate Edwards Lifesciences Corporation (EW) as a “Moderate Buy” at a consensus score of 2.10. Specifically, 13 Wall Street analysts polled rate the stock as a buy, while 9 of the 25 advise that investors “hold,” and 1 rated it as a “Sell.”

    Looking at the support for the EW, a number of firms have released research notes about the stock. Wells Fargo stated their Equal Weight rating for the stock in a research note on April 28, 2020, with the firm’s price target at $250-$230. SVB Leerink coverage for the Edwards Lifesciences Corporation (EW) stock in a research note released on April 17, 2020 offered a Outperform rating with a price target of $270. Citigroup was of a view on March 05, 2020 that the stock is Buy, while Goldman gave the stock Neutral rating on February 13, 2020, issuing a price target of $253. BTIG Research on their part issued Neutral rating on February 06, 2020.

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