Edwards Lifesciences (NYSE:EW) Releases Q2 Earnings Guidance

Edwards Lifesciences (NYSE:EW) updated its second quarter earnings guidance on Thursday. The company provided EPS guidance of $0.67-0.71 for the period, compared to the consensus EPS 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 FY 2024 guidance to 2.700-2.800 EPS.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Evercore ISI lowered their price target on shares of Edwards Lifesciences from $92.00 to $89.00 and set an in-line rating for the company in a report on Friday. OTR Global raised shares of Edwards Lifesciences from a mixed rating to a positive rating in a research note on Tuesday, March 26th. Royal Bank of Canada raised their price objective on shares of Edwards Lifesciences from $95.00 to $101.00 and gave the company an outperform rating in a research note on Monday, April 15th. Citigroup raised their price objective on shares of Edwards Lifesciences from $90.00 to $98.00 and gave the company a neutral rating in a research note on Wednesday, April 3rd. Finally, Morgan Stanley raised their price objective on shares of Edwards Lifesciences from $95.00 to $103.00 and gave the company an overweight rating in a research note on Thursday, March 21st. One equities research 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 MarketBeat, Edwards Lifesciences has a consensus rating of Moderate Buy and an average target price of $93.33.

Edwards Lifesciences Stock Down 1.8 %

EW stock traded down $1.58 during midday trading on Friday, hitting $86.43. The company’s stock had a trading volume of 4,979,943 shares, compared to its average volume of 2,883,164. The company has a debt-to-equity ratio of 0.09, a current ratio of 3.38 and a quick ratio of 2.40. Edwards Lifesciences has a twelve month low of $60.57 and a twelve month high of $96.12. The company’s fifty day moving average price is $90.28 and its 200 day moving average price is $78.85. The stock has a market capitalization of $52.02 billion, a P/E ratio of 37.25, a PEG ratio of 4.36 and a beta of 1.05.

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

Insider Buying and Selling at Edwards Lifesciences

In other news, Director Michael A. Mussallem sold 29,350 shares of the company’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 owns 4,486 shares of the company’s stock, valued at approximately $388,801.62. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Edwards Lifesciences news, VP Jean-Luc M. Lemercier sold 14,400 shares of the company’s stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $92.32, for a total value of $1,329,408.00. Following the completion of the transaction, the vice president now directly owns 173,849 shares in the company, valued at approximately $16,049,739.68. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Michael A. Mussallem sold 29,350 shares of the company’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 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 194,004 shares of company stock valued at $17,166,254 in the last quarter. 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.