Edwards Lifesciences Gets a Buy Rating from RBC Capital

By Jason Carr

In a report issued on July 26, Glenn Novarro from RBC Capital reiterated a Buy rating on Edwards Lifesciences (NYSE: EW), with a price target of $130. The company’s shares closed yesterday at $115.51, close to its 52-week high of $121.75.

According to TipRanks.com, Novarro is a top 100 analyst with an average return of 15.1% and a 84.8% success rate. Novarro covers the Healthcare sector, focusing on stocks such as Boston Scientific Corp, Varian Medical Systems, and Zimmer Biomet Holdings.

Currently, the analyst consensus on Edwards Lifesciences is Strong Buy and the average price target is $134.67, representing a 16.6% upside.

In a report issued on July 17, SunTrust Robinson also maintained a Buy rating on the stock with a $146 price target.

Based on Edwards Lifesciences’ latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $842 million and quarterly net profit of $186 million. In comparison, last year the company earned revenue of $759 million and had a net profit of $127 million.

Based on the recent corporate insider activity of 81 insiders, corporate insider sentiment is negative on the stock. Most recently, in May 2017, Patrick Verguet, the CVP, Europe of EW sold 10,000 shares for a total of $1,148,700.

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Edwards Lifesciences Corp. engages in the design, development, manufacture, and markets products to treat stage cardiovascular disease. It operates through the following geographical segments: United States, Europe, Japan, and Rest of the World.