Edwards Lifesciences (NYSE:EW) Issues Q4 Earnings Guidance

Edwards Lifesciences (NYSE:EW) issued an update on its fourth quarter earnings guidance on Thursday morning. The company provided EPS guidance of $0.53-$0.57 for the period, compared to the consensus EPS estimate of $0.62. The company issued revenue guidance of $1.33-$1.39 billion, compared to the consensus revenue estimate of $1.39 billion. Edwards Lifesciences also updated its FY 2024 guidance to EPS.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on EW shares. Piper Sandler reduced their price objective on shares of Edwards Lifesciences from $73.00 to $70.00 and set a “neutral” rating on the stock in a research note on Friday. Evercore ISI reduced their price target on Edwards Lifesciences from $76.00 to $70.00 and set an “in-line” rating on the stock in a research report on Tuesday, October 1st. Wells Fargo & Company lowered their price objective on Edwards Lifesciences from $90.00 to $80.00 and set an “overweight” rating for the company in a research report on Monday, September 9th. Oppenheimer reiterated an “outperform” rating and issued a $90.00 target price on shares of Edwards Lifesciences in a report on Thursday, September 12th. Finally, Barclays lowered their price target on shares of Edwards Lifesciences from $90.00 to $80.00 and set an “overweight” rating for the company in a report on Monday, September 9th. Fifteen investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $75.67.

Edwards Lifesciences Stock Down 1.4 %

Shares of NYSE EW traded down $0.97 during midday trading on Friday, hitting $69.38. 8,171,703 shares of the stock traded hands, compared to its average volume of 4,595,216. Edwards Lifesciences has a one year low of $58.93 and a one year high of $96.12. The business has a 50 day moving average price of $68.09 and a two-hundred day moving average price of $78.49. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.87 and a current ratio of 3.71. The company has a market cap of $41.81 billion, a PE ratio of 29.91, a P/E/G ratio of 2.83 and a beta of 1.13.

Edwards Lifesciences (NYSE:EW) last released its quarterly earnings data on Thursday, October 24th. The medical research company reported $0.67 earnings per share for the quarter, hitting the consensus estimate of $0.67. Edwards Lifesciences had a net margin of 24.55% and a return on equity of 22.35%. The firm had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.57 billion. During the same quarter in the prior year, the company posted $0.59 earnings per share. The business’s revenue was up 8.9% on a year-over-year basis. On average, equities analysts predict that Edwards Lifesciences will post 2.71 EPS for the current year.

Insider Activity at Edwards Lifesciences

In related news, VP Donald E. Bobo, Jr. sold 5,000 shares of Edwards Lifesciences stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $66.08, for a total transaction of $330,400.00. Following the transaction, the vice president now owns 46,936 shares of the company’s stock, valued at $3,101,530.88. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, VP Donald E. Bobo, Jr. sold 5,000 shares of the stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $66.08, for a total value of $330,400.00. Following the completion of the sale, the vice president now owns 46,936 shares in the company, valued at $3,101,530.88. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Daveen Chopra sold 1,250 shares of the business’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $69.95, for a total transaction of $87,437.50. Following the transaction, the vice president now owns 29,333 shares in the company, valued at approximately $2,051,843.35. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 16,250 shares of company stock valued at $1,099,238. 1.29% of the stock is owned by corporate insiders.

About Edwards Lifesciences

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.