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

Edwards Lifesciences (NYSE:EW) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 2.700-2.800 for the period, compared to the consensus estimate of 2.750. The company issued revenue guidance of $6.6 billion-$6.6 billion, compared to the consensus revenue estimate of $6.5 billion. Edwards Lifesciences also updated its FY24 guidance to $2.70-2.80 EPS.

Analysts Set New Price Targets

Several brokerages recently commented on EW. Wells Fargo & Company raised shares of Edwards Lifesciences from an equal weight rating to an overweight rating and set a $94.00 price objective for the company in a research note on Friday, February 2nd. Bank of America upgraded shares of Edwards Lifesciences from a neutral rating to a buy rating in a research report on Thursday, March 7th. Citigroup lifted their target price on shares of Edwards Lifesciences from $90.00 to $98.00 and gave the company a neutral rating in a research report on Wednesday, April 3rd. Royal Bank of Canada lifted their target price on shares of Edwards Lifesciences from $95.00 to $101.00 and gave the company an outperform rating in a research report on Monday, April 15th. Finally, Oppenheimer lifted their target price on shares of Edwards Lifesciences from $93.00 to $100.00 and gave the company an outperform rating in a research report on Monday, March 18th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and ten have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus price target of $91.73.

Edwards Lifesciences Price Performance

Shares of NYSE:EW traded down $0.60 during midday trading on Thursday, reaching $88.01. 4,166,251 shares of the company were exchanged, compared to its average volume of 3,829,875. Edwards Lifesciences has a one year low of $60.57 and a one year high of $96.12. The company has a current ratio of 3.38, a quick ratio of 2.40 and a debt-to-equity ratio of 0.09. The business’s fifty day moving average is $90.23 and its two-hundred day moving average is $78.69. The stock has a market cap of $52.98 billion, a PE ratio of 38.53, a price-to-earnings-growth ratio of 4.35 and a beta of 1.05.

Edwards Lifesciences (NYSE:EW) last released its quarterly earnings data 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 business had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.50 billion. During the same quarter last year, the business earned $0.64 earnings per share. Edwards Lifesciences’s quarterly revenue was up 13.3% compared to the same quarter last year. As a group, analysts predict that Edwards Lifesciences will post 2.76 earnings per share for the current year.

Insider Activity

In other Edwards Lifesciences news, CFO Scott B. Ullem sold 7,255 shares of the firm’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $78.29, for a total transaction of $567,993.95. Following the transaction, the chief financial officer now owns 19,248 shares of the company’s stock, valued at approximately $1,506,925.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Edwards Lifesciences news, CFO Scott B. Ullem sold 7,255 shares of the business’s 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 sale, the chief financial officer now owns 19,248 shares of the company’s stock, valued at approximately $1,506,925.92. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Daniel J. Lippis sold 1,715 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $90.98, for a total transaction of $156,030.70. Following the sale, the vice president now directly owns 17,213 shares in the company, valued at approximately $1,566,038.74. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 194,004 shares of company stock valued at $17,166,254. 1.29% of the stock is currently owned by company insiders.

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.