Edwards Lifesciences (EW) Receives a Buy from Credit Suisse

Credit Suisse analyst Matt Miksic maintained a Buy rating on Edwards Lifesciences (EW) today and set a price target of $262.00. The company’s shares closed last Friday at $223.39.

According to TipRanks.com, Miksic is a 5-star analyst with an average return of 10.9% and a 67.3% success rate. Miksic covers the Healthcare sector, focusing on stocks such as Zimmer Biomet Holdings, Baxter International, and Integra Lifesciences.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Edwards Lifesciences with a $244.50 average price target, a 3.9% upside from current levels. In a report issued on April 9, Raymond James also maintained a Buy rating on the stock with a $230.00 price target.

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Based on Edwards Lifesciences’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $1.17 billion and net profit of $280 million. In comparison, last year the company earned revenue of $978 million and had a net profit of $7 million.

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Edwards Lifesciences Corp. engages in the patient-focused medical innovations for heart disease and critical care monitoring. Its products are categorized into three areas: Transcatheter Heart Valves, Surgical Structural Heart and Critical Care. The Transcatheter Heart Valves portfolio includes technologies designed to treat heart valve disease using catheter-based approaches as opposed to open surgical techniques. Its portfolio includes technologies designed for nonsurgical replacement of heart valves. The Surgical Structural Heart portfolio includes tissue heart valves and heart valve repair products for the surgical replacement or repair of a patient’s heart valve. The Critical Care portfolio products through hemodynamic monitoring system measures a patient’s heart function and fluid status in surgical and intensive care settings. The company was founded by Miles Lowell Edwards in 1958 and is headquartered in Irvine, CA.

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