5 Oversold Large Cap Stocks to Buy

3. Edwards Lifesciences Corporation (NYSE:EW)

14-day RSI as of July 31: 28.38

Number of Hedge Fund Holders: 47

Edwards Lifesciences Corporation (NYSE:EW) is a medical equipment manufacturing company providing patient-focused medical innovations for structural heart disease, as well as critical care and surgical monitoring.

Edwards Lifesciences Corporation (NYSE:EW) reported a strong quarterly performance for Q2 2023 with 11% y-o-y revenue growth to reach $1.53 billion. The company also raised FY 2023 revenue guidance from a range of $5.6-$6.0 billion to $5.9-$6.1 billion, and adjusted EPS guidance range from $2.48-$2.60 to $2.50-$2.60.

Following the earnings release, Morgan Stanley reiterated an ‘Outperform’ rating and a target price of $102 for Edwards Lifesciences Corporation (NYSE:EW) shares which represents a potential upside of 16.97% based on the share price on July 31.