Edwards Lifesciences (NYSE:EW) Issues FY24 Earnings Guidance

Edwards Lifesciences (NYSE:EW) issued an update on its FY24 earnings guidance on Thursday morning. The company provided EPS guidance of $2.70-2.80 for the period, compared to the consensus EPS 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 analysts have recently weighed in on EW shares. Piper Sandler boosted their price target on Edwards Lifesciences from $85.00 to $88.00 and gave the stock a neutral rating in a report on Friday. Royal Bank of Canada upped their price target on Edwards Lifesciences from $95.00 to $101.00 and gave the stock an outperform rating in a report on Monday, April 15th. OTR Global upgraded Edwards Lifesciences from a mixed rating to a positive rating in a research note on Tuesday, March 26th. Oppenheimer upped their price target on Edwards Lifesciences from $93.00 to $100.00 and gave the company an outperform rating in a research report on Monday, March 18th. Finally, Evercore ISI dropped their price objective on Edwards Lifesciences from $92.00 to $89.00 and set an in-line rating on the stock in a report on Friday. 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 company. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus target price of $93.33.

Edwards Lifesciences Price Performance

Edwards Lifesciences stock traded down $1.58 during mid-day trading on Friday, reaching $86.43. The company had a trading volume of 4,979,943 shares, compared to its average volume of 2,883,164. Edwards Lifesciences has a 1 year low of $60.57 and a 1 year high of $96.12. The company has a debt-to-equity ratio of 0.09, a current ratio of 3.38 and a quick ratio of 2.40. The company has a market capitalization of $52.02 billion, a P/E ratio of 37.25, a P/E/G ratio of 4.36 and a beta of 1.05. The stock’s 50-day simple moving average is $90.28 and its 200-day simple moving average is $78.85.

Edwards Lifesciences (NYSE:EW) last released 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 firm had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.58 billion. Edwards Lifesciences had a net margin of 23.01% and a return on equity of 23.34%. On average, equities analysts predict that Edwards Lifesciences will post 2.76 EPS for the current year.

Insider Buying and Selling

In other news, VP Catherine M. Szyman sold 27,000 shares of the company’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $85.62, for a total value of $2,311,740.00. Following the sale, the vice president now owns 34,814 shares in the company, valued at approximately $2,980,774.68. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Edwards Lifesciences news, VP Catherine M. Szyman sold 27,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $85.62, for a total value of $2,311,740.00. Following the sale, the vice president now owns 34,814 shares in the company, valued at $2,980,774.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Donald E. Bobo, Jr. sold 11,000 shares of the stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $85.83, for a total transaction 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 $3,390,542.49. The disclosure for this sale can be found here. In the last three months, insiders sold 194,004 shares of company stock valued at $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.