Edwards Lifesciences, Apple: S&P Gainers

NEW YORK ( TheStreet) - Edwards Lifesciences ( EW) and Apple ( AAPL) were among the best-performing stocks in the S&P 500 on Wednesday.

The S&P 500 rose 18.72 points, or 1.36%, Wednesday to 1,390.69.

Shares of Edwards Lifesciences increased 11.61% Wednesday to $81.84. The medical supplies company reported first-quarter earnings of $65.1 million, or 55 cents a share, up from year-earlier earnings of $63.9 million, or 53 cents a share. Sales in the quarter increased 13.5% to $459.2 million in the quarter.

Edwards Lifesciences' stock is trading at an estimated price-to-earnings ratio for next year of 24X; the average for medical supplies companies is 19.3X. For comparison, Becton Dickinson has a lower forward P/E of 12.44X.

Fourteen of the 25 analysts who cover Edwards Lifesciences rate it at buy; 11 analysts give the stock a hold rating.

TheStreet Ratings gives Edwards Lifesciences a B grade with a buy rating and $84.23 price target. The stock has risen 15.76% year to date.

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Apple shares gained 8.87% to $610.00. The company reported a profit of $12.30 a share on revenue of $39.2 billion in its fiscal second quarter late Tuesday, selling more than 35 million iPhones.

Apple shares trade at a forward P/E of 11.48X; the average for computer hardware companies is 15.94X. For comparison, Hewlett-Packard ( HPQ) has a lower forward P/E of 5.64X.

Fifty of the 56 analysts who cover Apple rate it at buy. Five analysts give the stock a hold rating and one rates it at sell.

TheStreet Ratings gives Apple an A+ grade with a buy rating and $771.02 price target. The stock has risen 50.62% year to date.


Other top-performing S&P 500 stocks on Wednesday included:
  • Aflac (AFL): The stock rose 7.76% Wednesday to $45.26. The stock has increased 4.62% year to date. TheStreet Ratings gives Aflac a B grade with a buy rating and $48.85 price target.
  • Corning (GLW): The stock increased 7.12% Wednesday to $14.30. The stock has risen 10.17% year to date. TheStreet Ratings gives Corning a C+ grade and hold rating.
  • Pioneer Natural Resources (PXD): The stock rose 6.47% Wednesday to $113.61. The stock has increased 26.97% year to date. TheStreet Ratings gives Pioneer Natural Resources a B- grade with a buy rating and $134.84 price target.
  • Nabors Industries (NBR): The stock increased 6.33% Wednesday to $16.96. The stock has fallen 2.19% year to date. TheStreet Ratings gives Nabors Industries a B- grade with a buy rating and $18.30 price target.
  • Harley-Davidson (HOG): The stock rose 6.22% Wednesday to $53.49. The stock has increased 37.61% year to date. TheStreet Ratings gives Harley-Davidson a B grade with a buy rating and $60.83 price target.
  • Allegheny Technologies (ATI): The stock increased 6.1% Wednesday to $42.79. The stock has fallen 10.48% year to date. TheStreet Ratings gives Allegheny Technologies a C+ grade and hold rating.
  • Broadcom (BRCM): The stock rose 6.07% Wednesday to $36.51. The stock has increased 24.35% year to date. TheStreet Ratings gives Broadcom a B+ grade with a buy rating and $41.27 price target.
  • CF Industries (CF): The stock increased 5.98% Wednesday to $192.24. The stock has risen 32.6% year to date. TheStreet Ratings gives CF Industries a B grade with a buy rating and $238.24 price target.

-- Written by Alexandra Zendrian in New York.

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