Leerink Partners Lifts Edwards Lifesciences (EW) Price Target Amid Buybacks Focus

Edwards Lifesciences Corporation (NYSE:EW) is one of the top stock picks in Ken Griffin’s portfolio. On August 20, analysts at Leerink Partners reiterated a ‘Market Perform’ rating and hiked the stock’s price target to $85 from $84. The price target hike comes as the stock outperforms the overall market, rallying by 11% year to date.

In addition, the research firm increased the price target, impressed by the company’s commitment to returning value to shareholders. Edward Lifesciences is fresh from announcing an accelerated $500 million share repurchase program. The new plan will bring the company’s year-to-date repurchases to more than $800 million.

Following the buybacks, the total number of Edward Lifesciences’ diluted shares will drop to the low end of management’s guidance of 585-590 million for 2025. Leerink Partners expects the company to deliver earnings of $2.48 for 2025 but has increased its 2026-2028 adjusted earnings per share estimates by $0.02.

Edwards Lifesciences Corporation (NYSE:EW) develops and sells patient-focused medical innovations, including transcatheter heart valves and hemodynamic monitoring systems for the treatment of structural heart disease and critical care. It also collaborates with healthcare professionals to develop breakthrough technologies that enhance patient lives and outcomes for individuals with cardiovascular disease and other critical illnesses.

While we acknowledge the potential of EW as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

READ NEXT: Goldman Sachs Tech Stocks: Top 10 Stocks to Buy Now and 10 Must-Buy Penny Stocks to Invest In.

Disclosure: None. This article is originally published at Insider Monkey.