Edwards Lifesciences (NYSE:EW) Updates FY24 Earnings Guidance

Edwards Lifesciences (NYSE:EW) updated its FY24 earnings guidance on Thursday. The company provided earnings per share guidance of $2.70-2.80 for the period, compared to the consensus earnings per share estimate of $2.75. The company issued revenue guidance of high end of $6.3-3.6 billion, compared to the consensus revenue estimate of $6.52 billion. Edwards Lifesciences also updated its FY 2024 guidance to 2.700-2.800 EPS.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Evercore ISI decreased their price objective on shares of Edwards Lifesciences from $92.00 to $89.00 and set an in-line rating for the company in a research report on Friday. Citigroup raised their price target on shares of Edwards Lifesciences from $90.00 to $98.00 and gave the stock a neutral rating in a research report on Wednesday, April 3rd. Bank of America raised shares of Edwards Lifesciences from a neutral rating to a buy rating in a research report on Thursday, March 7th. OTR Global raised shares of Edwards Lifesciences from a mixed rating to a positive rating in a research report on Tuesday, March 26th. Finally, Morgan Stanley raised their price target on shares of Edwards Lifesciences from $95.00 to $103.00 and gave the stock an overweight rating in a research report on Thursday, March 21st. One equities research 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. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average price target of $93.33.

Edwards Lifesciences Stock Performance

Shares of NYSE EW traded down $1.58 during midday trading on Friday, reaching $86.43. 4,979,943 shares of the stock were exchanged, compared to its average volume of 2,883,164. The firm has a 50-day simple moving average of $90.28 and a two-hundred day simple moving average of $78.85. Edwards Lifesciences has a twelve month low of $60.57 and a twelve month high of $96.12. The firm has a market cap of $52.02 billion, a price-to-earnings ratio of 37.25, a PEG ratio of 4.36 and a beta of 1.05. The company has a quick ratio of 2.40, a current ratio of 3.38 and a debt-to-equity ratio of 0.09.

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

Insider Activity at Edwards Lifesciences

In other Edwards Lifesciences news, CFO Scott B. Ullem sold 7,255 shares of Edwards Lifesciences stock in a transaction 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 sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Edwards Lifesciences news, CFO Scott B. Ullem sold 7,255 shares of Edwards Lifesciences stock in a transaction 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 sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Jean-Luc M. Lemercier sold 14,400 shares of Edwards Lifesciences stock in a transaction on Monday, April 8th. The stock was sold at an average price of $92.32, for a total transaction of $1,329,408.00. Following the sale, the vice president now directly owns 173,849 shares in the company, valued at approximately $16,049,739.68. The disclosure for this sale can be found here. In the last quarter, insiders have sold 194,004 shares of company stock valued at $17,166,254. 1.29% of the stock is 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.