Edwards Lifesciences (NYSE:EW) Updates FY24 Earnings Guidance

Edwards Lifesciences (NYSE:EW) updated its FY24 earnings guidance on Thursday. The company provided earnings per share guidance of $2.70-2.80 for the period, compared to the consensus earnings per share estimate of $2.75. The company issued revenue guidance of high end of $6.3-3.6 billion, compared to the consensus revenue estimate of $6.52 billion. Edwards Lifesciences also updated its FY 2024 guidance to 2.700-2.800 EPS.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Royal Bank of Canada lifted their target price on shares of Edwards Lifesciences from $95.00 to $101.00 and gave the stock an outperform rating in a research report on Monday, April 15th. Oppenheimer lifted their target price on shares of Edwards Lifesciences from $93.00 to $100.00 and gave the stock an outperform rating in a research report on Monday, March 18th. Bank of America upgraded shares of Edwards Lifesciences from a neutral rating to a buy rating in a research report on Thursday, March 7th. Wells Fargo & Company boosted their price objective on shares of Edwards Lifesciences from $94.00 to $99.00 and gave the company an overweight rating in a research report on Friday. Finally, Piper Sandler boosted their price objective on shares of Edwards Lifesciences from $85.00 to $88.00 and gave the company a neutral rating in a research report on Friday. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have issued a buy rating to the company. According to MarketBeat, Edwards Lifesciences has an average rating of Moderate Buy and a consensus price target of $93.33.

Edwards Lifesciences Trading Down 1.8 %

Edwards Lifesciences stock traded down $1.58 during trading on Friday, reaching $86.43. The company had a trading volume of 4,979,943 shares, compared to its average volume of 2,883,164. Edwards Lifesciences has a 12-month low of $60.57 and a 12-month high of $96.12. The stock’s 50 day moving average price is $90.28 and its two-hundred day moving average price is $78.89. The firm has a market capitalization of $52.02 billion, a price-to-earnings ratio of 37.25, a PEG ratio of 4.29 and a beta of 1.05. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.40 and a current ratio of 3.38.

Edwards Lifesciences (NYSE:EW) last released its earnings results on Thursday, April 25th. The medical research company reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.02. Edwards Lifesciences had a net margin of 23.01% and a return on equity of 23.34%. The firm had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.58 billion. As a group, equities analysts expect that Edwards Lifesciences will post 2.76 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Edwards Lifesciences news, Director Michael A. Mussallem sold 29,350 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $86.67, for a total transaction of $2,543,764.50. Following the completion of the sale, the director now directly owns 4,486 shares in the company, valued at $388,801.62. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Edwards Lifesciences news, CFO Scott B. Ullem sold 7,255 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $78.29, for a total transaction of $567,993.95. Following the completion of the sale, the chief financial officer now directly owns 19,248 shares in the company, valued at $1,506,925.92. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Michael A. Mussallem sold 29,350 shares of the company’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $86.67, for a total transaction of $2,543,764.50. Following the completion of the transaction, the director now owns 4,486 shares of the company’s stock, valued at $388,801.62. The disclosure for this sale can be found here. Insiders sold a total of 194,004 shares of company stock worth $17,166,254 over the last ninety days. 1.29% of the stock is owned by company insiders.

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.