Analysts’ recommendations for Edwards Lifesciences
Edwards Lifesciences (EW) is a leading transcatheter heart valve manufacturer in the United States. The company has a market cap of $29.3 billion. In 2017, its sales were $3.4 billion. In the second quarter of 2018, it generated sales of $972 million.
The company is set to release its third-quarter earnings results after the market closes on October 23. In this article, we’ll look at analysts’ recommendations and target prices for EW ahead of its third-quarter earnings release.
According to an October 12 Reuters survey, which included 21 analysts covering EW stock, 62% of analysts (or 13) have recommended “buys” or “strong buys” on Edwards Lifesciences. Seven analysts have recommended “holds” on EW, and only one has recommended a “sell” on the stock.
As of October 12, analysts’ consensus target price for Edwards Lifesciences stock is $161.68, implying a potential ~15.3% return based on its closing price of $139.77 on October 11. Analysts’ 12-month target prices for peers Medtronic (MDT), Abbott Laboratories (ABT), and Boston Scientific (BSX) are $103.15, $76.31, and $103.15, respectively, representing potential returns of 10.8%, 11.6%, and 10.8%, respectively.
Analysts raised their target prices on EW stock
On October 11, Leerink raised its target price on Edwards Lifesciences from $140 to $155. On the same day, Morgan Stanley also increased its target price on EW stock from $150 to $157.
In the next article, we’ll talk about what to expect from Edwards Lifesciences’ sales in the third quarter.
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