Edwards Lifesciences (NYSE:EW) Updates Q2 Earnings Guidance

Edwards Lifesciences (NYSE:EW) updated its second quarter earnings guidance on Thursday. The company provided earnings per share guidance of $0.67-0.71 for the period, compared to the consensus earnings per share estimate of $0.70. The company issued revenue guidance of $1.62-1.70 billion, compared to the consensus revenue estimate of $1.65 billion. Edwards Lifesciences also updated its FY24 guidance to $2.70-2.80 EPS.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on EW. Evercore ISI raised their price target on Edwards Lifesciences from $86.00 to $92.00 and gave the stock an in-line rating in a research note on Thursday, April 4th. Mizuho raised their price objective on Edwards Lifesciences from $95.00 to $105.00 and gave the company a buy rating in a research note on Thursday, April 11th. Oppenheimer raised their price objective on Edwards Lifesciences from $93.00 to $100.00 and gave the company an outperform rating in a research note on Monday, March 18th. Stifel Nicolaus raised their target price on Edwards Lifesciences from $70.00 to $83.00 and gave the company a hold rating in a report on Wednesday, February 7th. Finally, OTR Global raised Edwards Lifesciences from a mixed rating to a positive rating in a report on Tuesday, March 26th. One analyst has rated the stock with a sell rating, seven have given a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus target price of $91.73.

Edwards Lifesciences Trading Down 0.7 %

NYSE EW traded down $0.60 on Thursday, reaching $88.01. The company had a trading volume of 4,166,382 shares, compared to its average volume of 3,828,260. The stock’s 50 day moving average is $90.23 and its 200-day moving average is $78.69. The stock has a market cap of $52.98 billion, a price-to-earnings ratio of 38.53, a PEG ratio of 4.35 and a beta of 1.05. The company has a quick ratio of 2.40, a current ratio of 3.38 and a debt-to-equity ratio of 0.09. Edwards Lifesciences has a 52 week low of $60.57 and a 52 week high of $96.12.

Edwards Lifesciences (NYSE:EW) last released its quarterly earnings data on Tuesday, February 6th. The medical research company reported $0.64 EPS for the quarter, meeting analysts’ consensus estimates of $0.64. Edwards Lifesciences had a return on equity of 23.56% and a net margin of 23.35%. The business had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.50 billion. During the same quarter in the prior year, the company posted $0.64 earnings per share. The firm’s revenue was up 13.3% on a year-over-year basis. Equities analysts predict that Edwards Lifesciences will post 2.76 earnings per share for the current year.

Insider Buying and Selling at Edwards Lifesciences

In other news, CFO Scott B. Ullem sold 7,255 shares of the company’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $94.89, for a total transaction of $688,426.95. Following the completion of the transaction, the chief financial officer now directly owns 19,074 shares of the company’s stock, valued at $1,809,931.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Scott B. Ullem sold 7,255 shares of the company’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $94.89, for a total transaction of $688,426.95. Following the completion of the transaction, the chief financial officer now directly owns 19,074 shares of the company’s stock, valued at $1,809,931.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Jean-Luc M. Lemercier sold 14,400 shares of the company’s stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $92.32, for a total value of $1,329,408.00. Following the sale, the vice president now owns 173,849 shares in the company, valued at approximately $16,049,739.68. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 194,004 shares of company stock valued at $17,166,254. Company insiders own 1.29% of the company’s stock.

Edwards Lifesciences Company Profile

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.