Edwards Lifesciences (EW) Releases FY18 Earnings Guidance
Edwards Lifesciences (NYSE:EW) updated its FY18 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $4.10-4.30 for the period, compared to the Thomson Reuters consensus estimate of $4.15. The company issued revenue guidance of $3.5-3.9 billion, compared to the consensus revenue estimate of $3.71 billion.Edwards Lifesciences also updated its FY17 guidance to $3.65-3.85 EPS.
A number of equities research analysts have recently weighed in on the company. BMO Capital Markets reaffirmed a buy rating and issued a $137.00 price objective on shares of Edwards Lifesciences in a research note on Friday. Canaccord Genuity reissued a buy rating and set a $137.00 target price on shares of Edwards Lifesciences in a research note on Wednesday, November 29th. Barclays reissued an equal weight rating and set a $120.00 target price on shares of Edwards Lifesciences in a research note on Saturday, September 30th. Zacks Investment Research cut Edwards Lifesciences from a strong-buy rating to a hold rating in a research note on Tuesday, September 26th. Finally, Deutsche Bank lowered their target price on Edwards Lifesciences from $122.00 to $115.00 and set a hold rating for the company in a research note on Thursday, October 26th. Seven research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. Edwards Lifesciences has an average rating of Buy and an average price target of $125.78.
Shares of Edwards Lifesciences (NYSE EW) opened at $117.45 on Friday. Edwards Lifesciences has a fifty-two week low of $85.27 and a fifty-two week high of $121.45. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.49 and a quick ratio of 2.76. The firm has a market capitalization of $23,989.23, a PE ratio of 31.40, a PEG ratio of 2.03 and a beta of 0.51.
Edwards Lifesciences (NYSE:EW) last posted its earnings results on Tuesday, October 24th. The medical research company reported $0.84 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.86 by ($0.02). The firm had revenue of $821.50 million during the quarter, compared to analysts’ expectations of $833.85 million. Edwards Lifesciences had a net margin of 22.47% and a return on equity of 27.22%. The firm’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.68 earnings per share. analysts anticipate that Edwards Lifesciences will post 3.75 earnings per share for the current fiscal year.
Edwards Lifesciences announced that its board has approved a stock buyback plan on Thursday, December 7th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the medical research company to purchase shares of its stock through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its shares are undervalued.
In other Edwards Lifesciences news, CEO Michael A. Mussallem sold 32,900 shares of the company’s stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $100.93, for a total transaction of $3,320,597.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Donald E. Bobo, Jr. sold 5,300 shares of the company’s stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $101.12, for a total value of $535,936.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 139,580 shares of company stock valued at $14,849,205. 2.13% of the stock is owned by company insiders.
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About Edwards Lifesciences
Edwards Lifesciences Corporation is a manufacturer of heart valve systems and repair products used to replace or repair a patient’s diseased or defective heart valve. The Company is engaged in patient-focused innovations for structural heart disease and critical care monitoring. Its segments include United States, Europe, Japan and Rest of World.
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