$1.33 Billion in Sales Expected for Edwards Lifesciences Co. (NYSE:EW) This Quarter

Equities analysts forecast that Edwards Lifesciences Co. (NYSE:EW) will post $1.33 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Nine analysts have made estimates for Edwards Lifesciences’ earnings, with the highest sales estimate coming in at $1.35 billion and the lowest estimate coming in at $1.31 billion. Edwards Lifesciences posted sales of $1.14 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 16.7%. The business is expected to announce its next quarterly earnings results on Wednesday, October 20th.

According to Zacks, analysts expect that Edwards Lifesciences will report full year sales of $5.33 billion for the current fiscal year, with estimates ranging from $5.29 billion to $5.38 billion. For the next year, analysts expect that the company will report sales of $5.88 billion, with estimates ranging from $5.73 billion to $6.06 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that follow Edwards Lifesciences.

Edwards Lifesciences (NYSE:EW) last announced its quarterly earnings data on Thursday, July 29th. The medical research company reported $0.64 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.09. The business had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.29 billion. Edwards Lifesciences had a return on equity of 29.73% and a net margin of 29.69%.

Several research analysts have weighed in on the company. Raymond James upped their target price on Edwards Lifesciences from $101.00 to $122.00 and gave the stock an “outperform” rating in a research report on Monday, August 2nd. UBS Group increased their target price on Edwards Lifesciences from $98.00 to $115.00 and gave the company a “neutral” rating in a research note on Friday, July 30th. Morgan Stanley upped their price target on Edwards Lifesciences from $108.00 to $135.00 and gave the company an “overweight” rating in a report on Friday, July 30th. SVB Leerink upped their price target on Edwards Lifesciences from $125.00 to $130.00 and gave the company an “outperform” rating in a report on Friday, July 30th. Finally, Canaccord Genuity increased their target price on Edwards Lifesciences from $103.00 to $124.00 and gave the stock a “buy” rating in a report on Friday, July 30th. Eight equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $116.33.

Shares of Edwards Lifesciences stock opened at $109.10 on Thursday. The firm has a market capitalization of $68.01 billion, a PE ratio of 46.82, a price-to-earnings-growth ratio of 3.40 and a beta of 1.08. Edwards Lifesciences has a 12-month low of $70.92 and a 12-month high of $123.27. The company has a quick ratio of 2.89, a current ratio of 3.75 and a debt-to-equity ratio of 0.12. The stock’s fifty day moving average is $116.14 and its 200-day moving average is $104.08.

In related news, CEO Michael A. Mussallem sold 32,550 shares of the stock in a transaction on Tuesday, August 3rd. The stock was sold at an average price of $114.14, for a total value of $3,715,257.00. Following the completion of the sale, the chief executive officer now directly owns 233,052 shares in the company, valued at $26,600,555.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Larry L. Wood sold 7,830 shares of the stock in a transaction on Monday, October 11th. The shares were sold at an average price of $108.00, for a total value of $845,640.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 133,780 shares of company stock valued at $15,239,515. Company insiders own 1.35% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the business. Baldrige Asset Management LLC bought a new stake in Edwards Lifesciences during the second quarter valued at $31,000. Bedel Financial Consulting Inc. bought a new position in shares of Edwards Lifesciences during the 2nd quarter worth about $31,000. West Oak Capital LLC bought a new position in shares of Edwards Lifesciences during the 3rd quarter worth about $34,000. Wagner Wealth Management LLC bought a new position in shares of Edwards Lifesciences during the 1st quarter worth about $35,000. Finally, Concord Wealth Partners boosted its position in shares of Edwards Lifesciences by 106.5% during the 1st quarter. Concord Wealth Partners now owns 446 shares of the medical research company’s stock worth $37,000 after purchasing an additional 230 shares in the last quarter. 80.13% of the stock is currently owned by institutional investors and hedge funds.

About Edwards Lifesciences

Edwards Lifesciences Corp. engages in the patient-focused medical innovations for heart disease and critical care monitoring. Its products are categorized into three areas: Transcatheter Heart Valves, Surgical Structural Heart, and Critical Care. The Transcatheter Heart Valves portfolio includes technologies designed to treat heart valve disease using catheter-based approaches as opposed to open surgical techniques.

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