Edwards Lifesciences (NYSE:EW) Releases Q3 2024 Earnings Guidance

Edwards Lifesciences (NYSE:EW) issued an update on its third quarter 2024 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 0.670-0.710 for the period, compared to the consensus estimate of 0.690. The company issued revenue guidance of $1.6 billion-$1.6 billion, compared to the consensus revenue estimate of $1.6 billion. Edwards Lifesciences also updated its Q3 guidance to $0.67-0.71 EPS.

Edwards Lifesciences Stock Down 31.3 %

EW traded down $27.25 during midday trading on Thursday, hitting $59.70. The company had a trading volume of 45,810,475 shares, compared to its average volume of 3,698,478. Edwards Lifesciences has a 52 week low of $58.93 and a 52 week high of $96.12. The company has a quick ratio of 2.67, a current ratio of 3.75 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $35.98 billion, a price-to-earnings ratio of 26.20, a PEG ratio of 3.19 and a beta of 1.11. The stock’s 50 day moving average price is $89.12 and its 200 day moving average price is $87.12.

Edwards Lifesciences (NYSE:EW) last posted its quarterly earnings results on Wednesday, July 24th. The medical research company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.01. Edwards Lifesciences had a net margin of 23.01% and a return on equity of 22.86%. The firm had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.65 billion. During the same period in the previous year, the firm posted $0.66 earnings per share. The business’s revenue was up 6.7% compared to the same quarter last year. On average, research analysts anticipate that Edwards Lifesciences will post 2.77 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Truist Financial cut shares of Edwards Lifesciences from a buy rating to a hold rating and reduced their price objective for the company from $110.00 to $82.00 in a report on Thursday. Barclays raised their price target on shares of Edwards Lifesciences from $100.00 to $101.00 and gave the company an overweight rating in a research report on Tuesday, May 7th. Citigroup raised their target price on Edwards Lifesciences from $105.00 to $106.00 and gave the company a buy rating in a report on Wednesday, July 10th. Wells Fargo & Company dropped their target price on Edwards Lifesciences from $99.00 to $90.00 and set an overweight rating on the stock in a report on Thursday. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on Edwards Lifesciences from $103.00 to $85.00 and set a buy rating on the stock in a report on Thursday. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of Hold and an average target price of $84.57.

Insider Buying and Selling

In other news, CEO Bernard J. Zovighian bought 580 shares of the firm’s stock in a transaction on Monday, May 6th. The stock was acquired at an average cost of $85.74 per share, with a total value of $49,729.20. Following the completion of the transaction, the chief executive officer now directly owns 3,268 shares of the company’s stock, valued at approximately $280,198.32. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Edwards Lifesciences news, VP Donald E. Bobo, Jr. sold 5,000 shares of the firm’s stock in a transaction on Wednesday, July 10th. The stock was sold at an average price of $93.29, for a total value of $466,450.00. Following the completion of the sale, the vice president now directly owns 46,936 shares of the company’s stock, valued at $4,378,659.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Bernard J. Zovighian bought 580 shares of the firm’s stock in a transaction on Monday, May 6th. The stock was purchased at an average cost of $85.74 per share, with a total value of $49,729.20. Following the completion of the transaction, the chief executive officer now directly owns 3,268 shares of the company’s stock, valued at $280,198.32. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 81,099 shares of company stock worth $7,003,553. 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.