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Edwards Lifesciences (EW) Received its Third Buy in a Row


After Wells Fargo and Cowen & Co. gave Edwards Lifesciences (NYSE: EW) a Buy rating last month, the company received another Buy, this time from Raymond James. Analyst Jayson Bedford maintained a Buy rating on Edwards Lifesciences today and set a price target of $175. The company’s shares closed on Tuesday at $157.35.

According to TipRanks.com, Bedford is a top 100 analyst with an average return of 20.9% and a 74.2% success rate. Bedford covers the Healthcare sector, focusing on stocks such as Boston Scientific Corp, Johnson & Johnson, and Angiodynamics.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Edwards Lifesciences with a $166.85 average price target, representing a 6.0% upside. In a report issued on November 30, Cowen & Co. also assigned a Buy rating to the stock with a $190 price target.

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Based on Edwards Lifesciences’ latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $226 million. In comparison, last year the company had a net profit of $170 million.

Based on the recent corporate insider activity of 113 insiders, corporate insider sentiment is negative on the stock. Last month, Robert Sellers, the VP, Corp. Contr of EW sold 7,859 shares for a total of $1,203,631.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Edwards Lifesciences Corp. engages in the patient-focused medical innovations for heart disease and critical care monitoring. It operates through the following geographical segments: United States, Europe, Japan, and Rest of the World. Its products are categorized into three areas: Surgical Heart Valve Therapy, Transcatheter Heart Valves, and Critical Care.