Edwards Lifesciences (NYSE:EW) Releases Q2 Earnings Guidance

Edwards Lifesciences (NYSE:EW) updated its second quarter earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $0.67-0.71 for the period, compared to the consensus 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 FY24 guidance to $2.70-2.80 EPS.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on EW. Citigroup boosted their price objective on shares of Edwards Lifesciences from $90.00 to $98.00 and gave the stock a neutral rating in a research report on Wednesday, April 3rd. OTR Global upgraded shares of Edwards Lifesciences from a mixed rating to a positive rating in a research report on Tuesday, March 26th. StockNews.com cut shares of Edwards Lifesciences from a buy rating to a hold rating in a research note on Wednesday, March 20th. Mizuho upped their price target 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. Finally, Wells Fargo & Company raised shares of Edwards Lifesciences from an equal weight rating to an overweight rating and set a $94.00 price objective on the stock in a research note on Friday, February 2nd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of Moderate Buy and a consensus target price of $91.73.

Edwards Lifesciences Trading Down 0.7 %

Shares of EW stock traded down $0.60 during trading hours on Thursday, hitting $88.01. 4,166,382 shares of the company were exchanged, compared to its average volume of 3,828,260. The firm has a market cap of $52.98 billion, a PE ratio of 38.53, a PEG ratio of 4.35 and a beta of 1.05. Edwards Lifesciences has a 1 year low of $60.57 and a 1 year high of $96.12. The company has a quick ratio of 2.40, a current ratio of 3.38 and a debt-to-equity ratio of 0.09. The firm has a fifty day moving average of $90.23 and a 200 day moving average of $78.69.

Edwards Lifesciences (NYSE:EW) last posted its quarterly earnings results 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 firm had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same quarter last year, the firm posted $0.64 earnings per share. Edwards Lifesciences’s revenue for the quarter was up 13.3% compared to the same quarter last year. Analysts expect that Edwards Lifesciences will post 2.76 earnings per share for the current year.

Insider Activity at Edwards Lifesciences

In other Edwards Lifesciences news, VP Jean-Luc M. Lemercier sold 14,400 shares of the 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 sale, the vice president now owns 173,849 shares of the company’s stock, valued at $16,049,739.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Edwards Lifesciences news, VP Jean-Luc M. Lemercier sold 14,400 shares of the 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 sale, the vice president now owns 173,849 shares of the company’s stock, valued at $16,049,739.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Scott B. Ullem sold 7,255 shares of the stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $78.29, for a total transaction of $567,993.95. Following the completion of the sale, the chief financial officer now directly owns 19,248 shares of the company’s stock, valued at approximately $1,506,925.92. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 194,004 shares of company stock worth $17,166,254. Company insiders own 1.29% of the company’s stock.

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.