On Jan. 08, Bobo Donald E Jr divested U.S. $1,182,756 in shares of Edwards Lifesciences Corporation. The CVP,Strategy, Corp Development sold 13,077 shares at a price per share of $90.45. The transaction decreased this specific insider’s holdings to 210,345 shares worth around $19.07 million at present.
Citigroup took its Edwards Lifesciences Corporation [EW] rating to the equivalent of a Neutral from a Buy, and the price target to $97, in a research note dated December 16, 2020. That figure represents around a 6.53% premium from where the company’s shares closed on Friday. Other analysts also revised their coverage, with Citigroup’s analysts downgrading the shares from “a Buy” rating to “a Neutral” rating in a research note to investors issued in mid December. Meanwhile, Canaccord Genuity had maintained its rating on EW to the earlier “Buy” rating, in a research note produced for clients December 11, 2020. In addition, there was a new coverage from Wolfe Research on September 11, 2020. The research firm rated EW “an Underperform”.
Is Edwards Lifesciences Corporation [NYSE:EW] a Good Buy Right Now?
It should be noted that EW technical indicators for short, intermediate as well as long term progress have placed an overall average of 100% as Buy. The average signal changed from 100% Buy in the last week and compares with 100% Buy in the past month. Data from Edwards Lifesciences Corporation’s Trend Spotter indicated that the signals were Strongest. The stock current average is 2.2 million shares in the past 20 days and the short term average signal indicates a 100% Buy. In the last 50 days, the average trading volume was 2.48 million shares while the medium term average advocated for 100% Buy. The average long-term signal stands at 100% Buy and the 100-day average volume stands at 2.5 million shares.
EW Price Performance
On Wall Street, Edwards Lifesciences Corporation [NYSE:EW] finished Friday’s session up 1.38% at $90.67. The stock went up to $91.37 at the same session while its lowest single day price was $89.62. In the last five days, it saw a fall of about -0.61%, Edwards Lifesciences Corporation shares dropped by almost -0.61% since the beginning of the year. However, the share price has dropped to as low as -1.53% below its one year high. On 01/04/21, the company shares recorded $91.73, the highest single-day price it has got to in the last 52-weeks and a 52-week low was seen on 01/06/21, the same year at $86.60. The company’s shares have inclined by 16.28% in the past year. The 50-day SMA achieved is $83.97 while the 200-day SMA is $77.43. Volume dropped to 2.0 million from 2.49 million in the previous session.
Edwards Lifesciences Corporation [EW] Valuation Measures
Notably, Edwards Lifesciences Corporation [EW] stock cannot be classified as a good candidate in the listing of underestimated low-priced Medical Devices companies to purchase soonest possible with the prevailing 12-month PE ratio of 72.42. The measure means the stock is exchanging at a premium as compared to the 33.02x trailing earnings of the industry. It can be helpful for investors to consider historical price-sales ratio, more specifically, a 12.76 PS value ratio is reported for the last one year of reported earnings. That is higher than the industry average of 5.12 which means EW serve an unattractive investment opportunity compared to its competitors.
EW Stock Support And Resistance Levels
On the 24-hour scale, the immediate backing is perceived around 89.74 level, and in case of violation of this particular level, it will cause more drop to 88.80 level. On the upper level, 92.30 is still the key resistance. The stock may increase to the subsequent resistance at 91.49. The Relative Strength Index (RSI) pinned on the 14-day chart is 61.05, implying a neutral technical stance while the MACD stands at 0.28, meaning price will decrease in the next trading period. Percent R indicator moved to 15.91%, implying bullish price movement. Stochastic %K at 66.42% suggest holding the stock.
What is the short interest in Edwards Lifesciences Corporation?
Short interest in the Edwards Lifesciences Corporation stock has surged, increasing by 100000.0 shares to total 4.92 million shares on Dec 14, 2020. The interest had seen shares on Nov 12, 2020 stand at 5.02 million, data from Yahoo Finance shows. The decrease of -2.03% suggests the stock saw some decreased bullish sentiment. The stock’s days to cover (short ratio) moved to while the shorted shares account for just 0.80% of the overall float for the stock.
Edwards Lifesciences Corporation’s Biggest Shareholders: Who Owns Edwards Lifesciences Corporation [EW]?
Filings by The Vanguard Group, Inc. showed that the firm now holds a total of 45,974,574 shares or roughly 7.38% of the outstanding EW shares. This means their shares have reduced by -430,531 from the 45,974,574 the investor reportedly held in its prior 13-F filing. With the conclusion of the sale, BlackRock Fund Advisors updated stake is worth $2,829,435,796. Details in the latest 13F filings reveal that SSgA Funds Management, Inc. disposed off their -1.81% stake valued at $2,244,473,511 while Wellington Management Co. LLP cut theirs at $1,696,858,130. During the last quarter, SSgA Funds Management, Inc. liquidated -493,061 of its shares in Edwards Lifesciences Corporation while Wellington Management Co. LLP sold -420,570 shares. The Capital Research & Management Co’s holdings currently number 17,475,190 shares at $1584475477.3. According to the firm’s last 13F report, Walter Scott & Partners Ltd. shares in the company at filing stood at 14,594,213 shares, roughly $1,224,308,529.
EW Earnings Forecast For The Current Quarter
Edwards Lifesciences Corporation [EW] is expected to report strong earnings results for the quarter ending on Dec 2020. Consensus estimates give the company expected revenues of $1.19B and an earnings per share of $0.53 for Dec 2020. Looking further ahead, the company is expected to report revenue of $1.21B at an EPS of $0.5 for Mar 2021. The estimates represent upside of 16.10% and 13.52% in the company’s revenue and earnings per share, respectively, on a year-on-year basis.
EW Earnings Estimates For The Current Year
For the financial year, Edwards Lifesciences Corporation [NYSE:EW] is expected to bring in revenue of $4.39B. The returns are nearly $40.0 million higher than the company’s actual revenue recorded in the fiscal year 2019. In terms of EPS for the 2020, estimate put it at 1.89, higher than that of FY19 by $0.03. Estimates put this year’s earnings growth at 1.60%, 13.80% for the next, and at an annual 11.81% over the next 5-year period. As for sales, forecasts are for an increase of 0.90% in the current fiscal year and a further 16.10% over the following year.
What are analyst thoughts on Edwards Lifesciences Corporation?
Looking forward to the Edwards Lifesciences Corporation share price prediction, we can see that analysts, surveyed by FactSet, offer the mean price target for Edwards Lifesciences Corporation stock at $94.00 within the next 12 months, which represents almost 3.54 per cent growth from its previous closing price of $90.67. The highest analysts’ target for Edwards Lifesciences Corporation stock projections is $111.00 and the lowest one is $68.00. Still, 25 analysts sharing their consensus rating for EW stock in 2021 agree that it is an Overweight.