Edwards Lifesciences (NYSE:EW) Issues Q4 Earnings Guidance

Edwards Lifesciences (NYSE:EW) issued an update on its fourth quarter earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $0.53-$0.57 for the period, compared to the consensus estimate of $0.62. The company issued revenue guidance of $1.33-$1.39 billion, compared to the consensus revenue estimate of $1.39 billion. Edwards Lifesciences also updated its FY 2024 guidance to EPS.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Baird R W lowered Edwards Lifesciences from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 25th. Canaccord Genuity Group decreased their target price on Edwards Lifesciences from $66.00 to $63.00 and set a “hold” rating for the company in a research report on Friday. JPMorgan Chase & Co. increased their price target on shares of Edwards Lifesciences from $72.00 to $78.00 and gave the company a “neutral” rating in a research report on Friday. Oppenheimer restated an “outperform” rating and set a $90.00 price objective on shares of Edwards Lifesciences in a report on Thursday, September 12th. Finally, Robert W. Baird cut their target price on shares of Edwards Lifesciences from $73.00 to $68.00 and set a “neutral” rating on the stock in a report on Friday. Fifteen analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $75.67.

Edwards Lifesciences Stock Performance

Shares of NYSE:EW traded down $0.97 on Friday, hitting $69.38. The company had a trading volume of 8,171,703 shares, compared to its average volume of 4,595,216. The stock has a 50 day moving average price of $68.09 and a 200 day moving average price of $78.49. The company has a current ratio of 3.71, a quick ratio of 2.87 and a debt-to-equity ratio of 0.08. The stock has a market cap of $41.81 billion, a price-to-earnings ratio of 29.91, a P/E/G ratio of 2.83 and a beta of 1.13. Edwards Lifesciences has a 1-year low of $58.93 and a 1-year high of $96.12.

Edwards Lifesciences (NYSE:EW) last posted its earnings results on Thursday, October 24th. The medical research company reported $0.67 EPS for the quarter, meeting the consensus estimate of $0.67. The company had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.57 billion. Edwards Lifesciences had a return on equity of 22.35% and a net margin of 24.55%. The firm’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.59 earnings per share. Analysts expect that Edwards Lifesciences will post 2.71 EPS for the current year.

Insider Activity

In other news, VP Donald E. Bobo, Jr. sold 5,000 shares of the company’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $66.08, for a total transaction of $330,400.00. Following the completion of the sale, the vice president now directly owns 46,936 shares in the company, valued at approximately $3,101,530.88. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Edwards Lifesciences news, VP Daveen Chopra sold 1,250 shares of the company’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $69.95, for a total transaction of $87,437.50. Following the completion of the sale, the vice president now directly owns 29,333 shares in the company, valued at $2,051,843.35. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Donald E. Bobo, Jr. sold 5,000 shares of the firm’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $66.08, for a total value of $330,400.00. Following the completion of the sale, the vice president now directly owns 46,936 shares in the company, valued at approximately $3,101,530.88. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 16,250 shares of company stock worth $1,099,238. Corporate insiders own 1.29% of the company’s stock.

About Edwards Lifesciences

Edwards Lifesciences Corporation provides products and technologies for structural heart disease and critical care monitoring in the United States, Europe, Japan, and internationally. It offers transcatheter heart valve replacement products for the minimally invasive replacement of aortic heart valves under the Edwards SAPIEN family of valves system; and transcatheter heart valve repair and replacement products to treat mitral and tricuspid valve diseases under the PASCAL PRECISION and Cardioband names.