Edwards Lifesciences Corporation to Post Q4 2017 Earnings of $0.89 Per Share, William Blair Forecasts (EW)
Edwards Lifesciences Corporation (NYSE:EW) – William Blair upped their Q4 2017 earnings estimates for Edwards Lifesciences in a note issued to investors on Friday. William Blair analyst M. Kaczor now anticipates that the medical research company will post earnings of $0.89 per share for the quarter, up from their prior forecast of $0.88. William Blair has a “Outperform” rating on the stock. William Blair also issued estimates for Edwards Lifesciences’ Q1 2018 earnings at $0.98 EPS, Q2 2018 earnings at $1.13 EPS, Q3 2018 earnings at $1.01 EPS, Q4 2018 earnings at $1.09 EPS and FY2018 earnings at $4.16 EPS.
Edwards Lifesciences (NYSE:EW) last released its earnings results on Tuesday, October 24th. The medical research company reported $0.84 earnings per share for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.02). Edwards Lifesciences had a net margin of 22.47% and a return on equity of 27.22%. The business had revenue of $821.50 million during the quarter, compared to the consensus estimate of $833.85 million. During the same period last year, the business posted $0.68 EPS. The firm’s revenue for the quarter was up 11.1% on a year-over-year basis.
Other research analysts also recently issued research reports about the stock. Morgan Stanley decreased their price objective 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. Royal Bank Of Canada reissued a “buy” rating and issued a $130.00 price objective on shares of Edwards Lifesciences in a research report on Friday, September 1st. BMO Capital Markets restated a “buy” rating and set a $137.00 target price on shares of Edwards Lifesciences in a research note on Friday. Canaccord Genuity restated a “buy” rating and set a $155.00 target price on shares of Edwards Lifesciences in a research note on Sunday, October 8th. Finally, Barclays restated an “equal weight” rating and set a $120.00 target price on shares of Edwards Lifesciences in a research note on Saturday, September 30th. Six analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $126.43.
Edwards Lifesciences (EW) opened at $118.03 on Monday. Edwards Lifesciences has a 12-month low of $86.55 and a 12-month high of $121.45. The company has a market cap of $24,980.00, a PE ratio of 32.70, a PEG ratio of 2.11 and a beta of 0.51. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.49 and a quick ratio of 2.76.
A number of institutional investors and hedge funds have recently bought and sold shares of EW. Vanguard Group Inc. lifted its position in shares of Edwards Lifesciences by 2.0% in the 2nd quarter. Vanguard Group Inc. now owns 20,748,569 shares of the medical research company’s stock worth $2,453,311,000 after purchasing an additional 406,901 shares during the period. BlackRock Inc. lifted its position in shares of Edwards Lifesciences by 0.8% in the 2nd quarter. BlackRock Inc. now owns 14,109,514 shares of the medical research company’s stock worth $1,668,309,000 after purchasing an additional 105,819 shares during the period. Bank of New York Mellon Corp lifted its position in shares of Edwards Lifesciences by 161.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 5,304,536 shares of the medical research company’s stock worth $627,207,000 after purchasing an additional 3,277,726 shares during the period. Wells Fargo & Company MN lifted its position in shares of Edwards Lifesciences by 20.2% in the 3rd quarter. Wells Fargo & Company MN now owns 2,548,282 shares of the medical research company’s stock worth $278,553,000 after purchasing an additional 429,022 shares during the period. Finally, American Century Companies Inc. lifted its position in shares of Edwards Lifesciences by 7.0% in the 3rd quarter. American Century Companies Inc. now owns 2,224,010 shares of the medical research company’s stock worth $243,107,000 after purchasing an additional 144,701 shares during the period. 81.63% of the stock is currently owned by hedge funds and other institutional investors.
In other Edwards Lifesciences news, CEO Michael A. Mussallem sold 32,900 shares of the business’s stock in a transaction that occurred 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 document filed with the SEC, which can be accessed through this hyperlink. Also, VP Donald E. Bobo, Jr. sold 5,300 shares of the business’s stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $116.45, for a total transaction of $617,185.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 139,580 shares of company stock worth $14,849,205. Insiders own 2.13% of the company’s stock.
Edwards Lifesciences declared that its Board of Directors has initiated a share buyback program on Thursday, December 7th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the medical research company to reacquire shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.
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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