Edwards Lifesciences (NYSE:EW) Updates Q2 Earnings Guidance

Edwards Lifesciences (NYSE:EW) issued an update on its second quarter earnings guidance on Thursday morning. The company provided earnings per share guidance of $0.67-0.71 for the period, compared to the consensus earnings per share 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.

Edwards Lifesciences Trading Down 1.8 %

Shares of Edwards Lifesciences stock traded down $1.58 during trading hours 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. Edwards Lifesciences has a twelve month low of $60.57 and a twelve month high of $96.12. The stock has a market cap of $52.02 billion, a price-to-earnings ratio of 37.25, a P/E/G ratio of 4.36 and a beta of 1.05. The firm has a fifty day moving average of $90.28 and a 200-day moving average of $78.85. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.40 and a current ratio of 3.38.

Edwards Lifesciences (NYSE:EW) last posted its quarterly earnings data on Thursday, April 25th. The medical research company reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.02. The firm had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.58 billion. Edwards Lifesciences had a return on equity of 23.34% and a net margin of 23.01%. Research analysts forecast that Edwards Lifesciences will post 2.76 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Bank of America raised shares of Edwards Lifesciences from a neutral rating to a buy rating in a research report on Thursday, March 7th. StockNews.com downgraded Edwards Lifesciences from a buy rating to a hold rating in a report on Wednesday, March 20th. Wells Fargo & Company upped their price objective on Edwards Lifesciences from $94.00 to $99.00 and gave the stock an overweight rating in a research report on Friday. Royal Bank of Canada boosted their target price on Edwards Lifesciences from $95.00 to $101.00 and gave the stock an outperform rating in a research note on Monday, April 15th. Finally, Stifel Nicolaus upped their price target on Edwards Lifesciences from $83.00 to $85.00 and gave the company a hold rating in a report on Friday. One analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and an average target price of $93.33.

Insiders Place Their Bets

In related news, CFO Scott B. Ullem sold 7,255 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $78.29, for a total value 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 approximately $1,506,925.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Scott B. Ullem sold 7,255 shares of the stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $78.29, for a total value of $567,993.95. Following 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 sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Heisz Leslie Stone sold 7,056 shares of Edwards Lifesciences stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $86.45, for a total transaction of $609,991.20. Following the transaction, the director now owns 26,980 shares of the company’s stock, valued at approximately $2,332,421. The disclosure for this sale can be found here. Over the last three months, insiders have sold 194,004 shares of company stock worth $17,166,254. 1.29% of the stock is 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.