Research Analysts Offer Predictions for Edwards Lifesciences Corporation’s Q2 2018 Earnings (EW)
Edwards Lifesciences Corporation (NYSE:EW) – Equities research analysts at Leerink Swann increased their Q2 2018 earnings per share (EPS) estimates for shares of Edwards Lifesciences in a research note issued to investors on Friday. Leerink Swann analyst D. Antalffy now anticipates that the medical research company will post earnings per share of $1.12 for the quarter, up from their prior forecast of $1.01. Leerink Swann also issued estimates for Edwards Lifesciences’ Q3 2018 earnings at $1.00 EPS, Q4 2018 earnings at $1.04 EPS, FY2018 earnings at $4.15 EPS, Q1 2019 earnings at $1.11 EPS, Q2 2019 earnings at $1.23 EPS, Q3 2019 earnings at $1.14 EPS and FY2019 earnings at $4.65 EPS.
Several other equities analysts have also recently issued reports on the stock. BMO Capital Markets restated a “buy” rating and issued a $132.00 price target on shares of Edwards Lifesciences in a research report on Friday, September 1st. William Blair restated an “outperform” rating on shares of Edwards Lifesciences in a research report on Monday, August 28th. Royal Bank of Canada restated a “buy” rating and issued a $130.00 price target on shares of Edwards Lifesciences in a research report on Friday, September 1st. SunTrust Banks set a $124.00 price target on shares of Edwards Lifesciences and gave the company a “buy” rating in a research report on Wednesday, October 25th. Finally, Morgan Stanley decreased their price target on shares of Edwards Lifesciences from $133.00 to $120.00 and set an “overweight” rating for the company in a research report on Thursday, October 26th. Six investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $126.43.
Shares of Edwards Lifesciences (NYSE EW) traded up $0.15 during midday trading on Monday, reaching $118.18. 1,321,500 shares of the company’s stock traded hands, compared to its average volume of 1,641,517. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.76 and a current ratio of 3.49. Edwards Lifesciences has a 1 year low of $86.55 and a 1 year high of $121.45. The firm has a market cap of $24,977.50, a PE ratio of 32.69, a P/E/G ratio of 2.11 and a beta of 0.51.
Edwards Lifesciences (NYSE:EW) last issued its quarterly earnings data on Tuesday, October 24th. The medical research company reported $0.84 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.86 by ($0.02). The company had revenue of $821.50 million during the quarter, compared to the consensus estimate of $833.85 million. Edwards Lifesciences had a net margin of 22.47% and a return on equity of 27.22%. Edwards Lifesciences’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.68 EPS.
Large investors have recently bought and sold shares of the business. Victory Capital Management Inc. lifted its stake in shares of Edwards Lifesciences by 4.6% in the third quarter. Victory Capital Management Inc. now owns 557,773 shares of the medical research company’s stock valued at $60,969,000 after buying an additional 24,399 shares in the last quarter. Korea Investment CORP lifted its stake in shares of Edwards Lifesciences by 144.5% in the third quarter. Korea Investment CORP now owns 355,683 shares of the medical research company’s stock valued at $38,880,000 after buying an additional 210,200 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its stake in shares of Edwards Lifesciences by 53.3% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 11,991 shares of the medical research company’s stock valued at $1,418,000 after buying an additional 4,170 shares in the last quarter. Westpac Banking Corp lifted its stake in shares of Edwards Lifesciences by 13.5% in the second quarter. Westpac Banking Corp now owns 14,214 shares of the medical research company’s stock valued at $1,681,000 after buying an additional 1,691 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its stake in shares of Edwards Lifesciences by 41.9% in the second quarter. Principal Financial Group Inc. now owns 465,885 shares of the medical research company’s stock valued at $55,086,000 after buying an additional 137,643 shares in the last quarter. Institutional investors and hedge funds own 81.82% of the company’s stock.
In other news, CEO Michael A. Mussallem sold 32,900 shares of the stock in a transaction on Monday, October 30th. The shares were sold at an average price of $100.93, for a total transaction of $3,320,597.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Schack Wesley W. Von sold 1,000 shares of the stock in a transaction on Thursday, November 9th. The stock was sold at an average price of $104.15, for a total transaction of $104,150.00. Following the sale, the director now owns 2,622 shares of the company’s stock, valued at $273,081.30. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 139,580 shares of company stock valued at $14,849,205. 2.13% of the stock is currently owned by corporate insiders.
Edwards Lifesciences declared that its board has authorized a share repurchase plan on Thursday, December 7th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the medical research company to repurchase shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.
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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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