Edwards Lifesciences Corp (EW) is Upgraded by BofA/Merrill to Buy

Edwards Lifesciences Corp (EW) was Upgraded by BofA/Merrill to ” Buy”. Earlier the firm had a rating of “Neutral ” on the company shares. BofA/Merrill advised their investors in a research report released on Jul 27, 2016.

Many Wall Street Analysts have commented on Edwards Lifesciences Corp. Edwards Lifesciences Corp was Initiated by Guggenheim to “Neutral” on Jun 9, 2016. Company shares were Reiterated by Canaccord Genuity on May 23, 2016 to “Buy”, Firm has raised the Price Target to $ 132 from a previous price target of $123 .

On the company’s financial health, Edwards Lifesciences Corp reported $0.71 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Apr 26, 2016. Analyst had a consensus of $0.66. The company had revenue of $697.30 million for the quarter, compared to analysts expectations of $666.93 million. The company’s revenue was up 18.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.12 EPS.

Edwards Lifesciences Corp closed down -1.45 points or -1.27% at $112.99 with 17,07,263 shares getting traded on Thursday. Post opening the session at $114.68, the shares hit an intraday low of $112.66 and an intraday high of $115.38 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

In a different news, on Jul 7, 2016, Huimin Wang (CVP, Japan & Intercontinental) sold 13,650 shares at $98.44 per share price. According to the SEC, on Jul 5, 2016, Larry L Wood (CVP, THV Replacement) sold 13,257 shares at $99.13 per share price. On Jun 9, 2016, Michael A Mussallem (Chairman & CEO) sold 49,100 shares at $102.25 per share price, according to the Form-4 filing with the securities and exchange commission.

Edwards Lifesciences Corporation is focused on technologies that treat structural heart disease and critically ill patients. The Company is engaged in the development and commercialization of heart valve therapies. It is a manufacturer of heart valve systems and repair products used to replace or repair a patient’s diseased or defective heart valve. The Company develops hemodynamic monitoring systems used to measure a patient’s cardiovascular function in the hospital setting. Patients in the hospital setting including high-risk patients in the operating room or intensive care unit are candidates for having their cardiac function or fluid levels monitored by the its Critical Care products. The Company’s products and technologies it offers to treat advanced cardiovascular disease are categorized into three main areas: Transcatheter Heart Valve Therapy Surgical Heart Valve Therapy and Critical Care.

Edwards Lifesciences Corp

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