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Will This Price Target Increase Help Edwards Lifesciences (EW) Stock Today?

Stocks in this article: EW

Story updated at 9:55 a.m. to reflect market activity.

NEW YORK (TheStreet) -- JMP Securities raised its price target for Edwards Lifesciences (EW) to $120 from $97, reiterating its "market outperform" rating.

Shares of Edwards Lidfesciences (EW) gained 0.9% to $98.46 in morning trading.

The analyst firm also raised its revenue and EPS estimates for the company through 2015. Edwards Lifesciences' recent results suggest that global TAVI market growth may accelerate according to JMP analyst J.T. Haresco.

"Our own channel checks in Europe suggest that the large number of four- and five-year follow-up visits in the last six months may have had a positive impact on physician adoption by increasing their level of confidence in the technology," Haresco wrote. "In addition, we believe that longer-term data being presented at the upcoming TCT conference may serve as a near-term driver for the stock."

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Separately, TheStreet Ratings team rates EDWARDS LIFESCIENCES CORP as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:

"We rate EDWARDS LIFESCIENCES CORP (EW) a BUY. This is driven by multiple strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, notable return on equity, solid stock price performance and compelling growth in net income. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook."

Highlights from the analysis by TheStreet Ratings Team goes as follows:

  • EW's revenue growth has slightly outpaced the industry average of 8.6%. Since the same quarter one year prior, revenues rose by 11.2%. Growth in the company's revenue appears to have helped boost the earnings per share.
  • The current debt-to-equity ratio, 0.31, is low and is below the industry average, implying that there has been successful management of debt levels. Along with this, the company maintains a quick ratio of 3.35, which clearly demonstrates the ability to cover short-term cash needs.
  • The company's current return on equity greatly increased when compared to its ROE from the same quarter one year prior. This is a signal of significant strength within the corporation. Compared to other companies in the Health Care Equipment & Supplies industry and the overall market, EDWARDS LIFESCIENCES CORP's return on equity significantly exceeds that of both the industry average and the S&P 500.
  • Powered by its strong earnings growth of 528.39% and other important driving factors, this stock has surged by 31.49% over the past year, outperforming the rise in the S&P 500 Index during the same period. Regarding the stock's future course, although almost any stock can fall in a broad market decline, EW should continue to move higher despite the fact that it has already enjoyed a very nice gain in the past year.
  • The net income growth from the same quarter one year ago has significantly exceeded that of the S&P 500 and the Health Care Equipment & Supplies industry. The net income increased by 486.3% when compared to the same quarter one year prior, rising from $93.30 million to $547.00 million.
  • You can view the full analysis from the report here: EW Ratings Report

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Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

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