Edwards Lifesciences (NYSE:EW) Issues Q3 2024 Earnings Guidance

Edwards Lifesciences (NYSE:EW) updated its third quarter 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 0.670-0.710 for the period, compared to the consensus estimate of 0.690. The company issued revenue guidance of $1.6 billion-$1.6 billion, compared to the consensus revenue estimate of $1.6 billion. Edwards Lifesciences also updated its Q3 guidance to $0.67-0.71 EPS.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Truist Financial increased their price target on Edwards Lifesciences from $105.00 to $110.00 and gave the company a buy rating in a report on Tuesday, July 16th. StockNews.com upgraded Edwards Lifesciences from a hold rating to a buy rating in a report on Thursday, June 27th. Barclays raised their target price on Edwards Lifesciences from $100.00 to $101.00 and gave the company an overweight rating in a research note on Tuesday, May 7th. Mizuho raised their target price on Edwards Lifesciences from $95.00 to $105.00 and gave the company a buy rating in a research note on Thursday, April 11th. Finally, The Goldman Sachs Group assumed coverage on Edwards Lifesciences in a research note on Thursday, May 30th. They set a buy rating and a $107.00 target price for the company. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average price target of $96.13.

Edwards Lifesciences Stock Performance

NYSE EW traded down $0.10 during trading hours on Wednesday, reaching $86.95. The company’s stock had a trading volume of 3,277,317 shares, compared to its average volume of 3,397,984. The company has a current ratio of 3.75, a quick ratio of 2.67 and a debt-to-equity ratio of 0.08. The business has a 50-day simple moving average of $89.12 and a 200 day simple moving average of $87.12. Edwards Lifesciences has a 52 week low of $60.57 and a 52 week high of $96.12. The stock has a market cap of $52.40 billion, a PE ratio of 37.48, a PEG ratio of 3.22 and a beta of 1.11.

Edwards Lifesciences (NYSE:EW) last issued its earnings results on Wednesday, July 24th. The medical research company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.01. The firm had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.65 billion. Edwards Lifesciences had a net margin of 23.01% and a return on equity of 22.86%. Edwards Lifesciences’s revenue was up 6.7% on a year-over-year basis. During the same quarter last year, the company posted $0.66 earnings per share. Equities research analysts predict that Edwards Lifesciences will post 2.77 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Scott B. Ullem sold 7,250 shares of Edwards Lifesciences stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $85.80, for a total transaction of $622,050.00. Following the sale, the chief financial officer now owns 19,074 shares of the company’s stock, valued at $1,636,549.20. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, Director Michael A. Mussallem sold 29,350 shares of the firm’s stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $84.77, for a total transaction of $2,487,999.50. Following the transaction, the director now owns 4,486 shares in the company, valued at $380,278.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Scott B. Ullem sold 7,250 shares of the firm’s stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $85.80, for a total transaction of $622,050.00. Following the transaction, the chief financial officer now owns 19,074 shares in the company, valued at approximately $1,636,549.20. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 81,099 shares of company stock valued at $7,003,553. 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.