Edwards Lifesciences (NYSE:EW) Updates FY 2024 Earnings Guidance

Edwards Lifesciences (NYSE:EW) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share guidance of 2.700-2.800 for the period, compared to the consensus earnings per share estimate of 2.750. The company issued revenue guidance of $6.6 billion-$6.6 billion, compared to the consensus revenue estimate of $6.5 billion. Edwards Lifesciences also updated its FY24 guidance to $2.70-2.80 EPS.

Edwards Lifesciences Trading Down 0.7 %

NYSE EW traded down $0.60 during trading on Thursday, hitting $88.01. The company had a trading volume of 4,166,251 shares, compared to its average volume of 3,829,875. The company has a current ratio of 3.38, a quick ratio of 2.40 and a debt-to-equity ratio of 0.09. Edwards Lifesciences has a one year low of $60.57 and a one year high of $96.12. The company has a market cap of $52.98 billion, a price-to-earnings ratio of 38.53, a price-to-earnings-growth ratio of 4.35 and a beta of 1.05. The company’s fifty day moving average is $90.23 and its 200-day moving average is $78.69.

Edwards Lifesciences (NYSE:EW) last announced its quarterly earnings data on Tuesday, February 6th. The medical research company reported $0.64 EPS for the quarter, meeting the consensus estimate of $0.64. Edwards Lifesciences had a net margin of 23.35% and a return on equity of 23.56%. The company had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.50 billion. During the same period in the prior year, the firm posted $0.64 EPS. Edwards Lifesciences’s revenue for the quarter was up 13.3% on a year-over-year basis. On average, sell-side analysts predict that Edwards Lifesciences will post 2.76 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have commented on EW. Mizuho raised their target price on shares of Edwards Lifesciences from $95.00 to $105.00 and gave the stock a buy rating in a research note on Thursday, April 11th. Evercore ISI upped their price target on shares of Edwards Lifesciences from $86.00 to $92.00 and gave the company an in-line rating in a research note on Thursday, April 4th. Stifel Nicolaus upped their price target on shares of Edwards Lifesciences from $70.00 to $83.00 and gave the company a hold rating in a research note on Wednesday, February 7th. Wells Fargo & Company raised shares of Edwards Lifesciences from an equal weight rating to an overweight rating and set a $94.00 price target on the stock in a research note on Friday, February 2nd. Finally, Oppenheimer upped their price target on shares of Edwards Lifesciences from $93.00 to $100.00 and gave the company an outperform rating in a research note on Monday, March 18th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of Moderate Buy and an average price target of $91.73.

Insider Buying and Selling at Edwards Lifesciences

In other news, CFO Scott B. Ullem sold 7,255 shares of Edwards Lifesciences stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $78.29, for a total transaction of $567,993.95. Following the transaction, the chief financial officer now owns 19,248 shares in the company, valued at approximately $1,506,925.92. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CFO Scott B. Ullem sold 7,255 shares of the business’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $78.29, for a total transaction of $567,993.95. Following the completion of the transaction, the chief financial officer now directly owns 19,248 shares of the company’s stock, valued at $1,506,925.92. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Donald E. Bobo, Jr. sold 11,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $85.83, for a total value of $944,130.00. Following the sale, the vice president now owns 39,503 shares of the company’s stock, valued at approximately $3,390,542.49. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 194,004 shares of company stock worth $17,166,254. Corporate 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.