Edwards Lifesciences (NYSE:EW) Issues Q2 Earnings Guidance

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

Shares of NYSE EW traded down $1.58 during trading on Friday, hitting $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 52 week low of $60.57 and a 52 week high of $96.12. The business’s 50-day moving average is $90.28 and its 200 day moving average is $78.85. The company has a market cap of $52.02 billion, a P/E ratio of 37.25, a PEG ratio of 4.36 and a beta of 1.05. 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 announced its earnings results on Thursday, April 25th. The medical research company reported $0.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.02. Edwards Lifesciences had a return on equity of 23.34% and a net margin of 23.01%. The company had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.58 billion. Equities research analysts predict that Edwards Lifesciences will post 2.76 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

EW has been the topic of several analyst reports. Stifel Nicolaus lifted their target price on shares of Edwards Lifesciences from $83.00 to $85.00 and gave the stock a hold rating in a research report on Friday. OTR Global upgraded Edwards Lifesciences from a mixed rating to a positive rating in a report on Tuesday, March 26th. Bank of America raised Edwards Lifesciences from a neutral rating to a buy rating in a research report on Thursday, March 7th. 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, StockNews.com lowered Edwards Lifesciences from a buy rating to a hold rating in a research report on Wednesday, March 20th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $93.33.

Insider Activity at Edwards Lifesciences

In other news, Director Michael A. Mussallem sold 29,350 shares of the stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $86.67, for a total transaction of $2,543,764.50. Following the transaction, the director now owns 4,486 shares of the company’s stock, valued at approximately $388,801.62. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Edwards Lifesciences 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 transaction of $2,311,740.00. Following the completion of the sale, the vice president now directly owns 34,814 shares in the company, valued at $2,980,774.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Michael A. Mussallem sold 29,350 shares of Edwards Lifesciences stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $86.67, for a total value of $2,543,764.50. Following the completion of the transaction, the director now owns 4,486 shares in the company, valued at $388,801.62. The disclosure for this sale can be found here. In the last 90 days, insiders sold 194,004 shares of company stock valued at $17,166,254. 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.