Edwards Lifesciences (NYSE:EW) Updates FY24 Earnings Guidance

Edwards Lifesciences (NYSE:EW) updated its FY24 earnings guidance on Thursday. The company provided earnings per share guidance of $2.70-2.80 for the period, compared to the consensus earnings per share estimate of $2.75. The company issued revenue guidance of high end of $6.3-3.6 billion, compared to the consensus revenue estimate of $6.52 billion. Edwards Lifesciences also updated its FY 2024 guidance to 2.700-2.800 EPS.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Wells Fargo & Company upped their price target on Edwards Lifesciences from $94.00 to $99.00 and gave the stock an overweight rating in a research note on Friday. OTR Global upgraded Edwards Lifesciences from a mixed rating to a positive rating in a research report on Tuesday, March 26th. Bank of America upgraded Edwards Lifesciences from a neutral rating to a buy rating in a research report on Thursday, March 7th. Oppenheimer increased their price objective on Edwards Lifesciences from $93.00 to $100.00 and gave the stock an outperform rating in a research report on Monday, March 18th. Finally, StockNews.com cut Edwards Lifesciences from a buy rating to a hold rating in a research report on Wednesday, March 20th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of Moderate Buy and an average price target of $93.33.

Edwards Lifesciences Price Performance

Shares of EW traded down $1.58 during trading hours on Friday, reaching $86.43. 4,979,943 shares of the company traded hands, compared to its average volume of 2,883,164. The stock has a fifty day simple moving average of $90.28 and a 200 day simple moving average of $78.85. The company has a quick ratio of 2.40, a current ratio of 3.38 and a debt-to-equity ratio of 0.09. Edwards Lifesciences has a fifty-two week low of $60.57 and a fifty-two week high of $96.12. The stock has a market capitalization of $52.02 billion, a PE ratio of 37.25, a price-to-earnings-growth ratio of 4.36 and a beta of 1.05.

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

Insider Transactions at Edwards Lifesciences

In other Edwards Lifesciences news, VP Donald E. Bobo, Jr. sold 11,000 shares of Edwards Lifesciences stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $85.83, for a total transaction of $944,130.00. Following the sale, the vice president now directly owns 39,503 shares in the company, valued at approximately $3,390,542.49. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, VP Jean-Luc M. Lemercier sold 14,400 shares of Edwards Lifesciences stock in a transaction that occurred on Monday, April 8th. The stock was 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 owns 173,849 shares in the company, valued at approximately $16,049,739.68. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Donald E. Bobo, Jr. sold 11,000 shares of Edwards Lifesciences 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 completion of the transaction, 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. Insiders have sold a total of 194,004 shares of company stock worth $17,166,254 in the last three months. 1.29% of the stock is currently 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.