Edwards Lifesciences (NYSE:EW) Updates Q2 Earnings Guidance

Edwards Lifesciences (NYSE:EW) updated its second quarter earnings guidance on Thursday. The company provided earnings per share guidance of $0.67-0.71 for the period, compared to the consensus earnings per share 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 Trading Down 1.8 %

Shares of NYSE EW traded down $1.58 during trading on Friday, reaching $86.43. The stock had a trading volume of 4,979,943 shares, compared to its average volume of 2,883,164. Edwards Lifesciences has a fifty-two week low of $60.57 and a fifty-two week high of $96.12. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.40 and a current ratio of 3.38. The business’s 50-day moving average price is $90.28 and its 200-day moving average price 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.

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

Analyst Ratings Changes

Several research firms have recently issued reports on EW. Oppenheimer upped their price objective on Edwards Lifesciences from $93.00 to $100.00 and gave the stock an outperform rating in a research report on Monday, March 18th. Royal Bank of Canada upped their price objective on Edwards Lifesciences from $95.00 to $101.00 and gave the company an outperform rating in a research note on Monday, April 15th. Stifel Nicolaus upped their price objective on Edwards Lifesciences from $83.00 to $85.00 and gave the company a hold rating in a research note on Friday. Bank of America raised Edwards Lifesciences from a neutral rating to a buy rating in a research note on Thursday, March 7th. Finally, Evercore ISI reduced their price objective on Edwards Lifesciences from $92.00 to $89.00 and set an in-line rating for the company in a research note on Friday. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, Edwards Lifesciences has an average rating of Moderate Buy and an average price target of $93.33.

Insider Buying and Selling

In related news, CFO Scott B. Ullem sold 7,255 shares of the stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $78.29, for a total value of $567,993.95. Following the transaction, the chief financial officer now directly 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 Securities & Exchange Commission, which is available at this link. 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 stock was sold at an average price of $78.29, for a total value of $567,993.95. Following the transaction, the chief financial officer now directly owns 19,248 shares of the company’s stock, valued at $1,506,925.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Daniel J. Lippis sold 1,715 shares of the firm’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $90.98, for a total value of $156,030.70. Following the sale, the vice president now owns 17,213 shares of the company’s stock, valued at $1,566,038.74. The disclosure for this sale can be found here. In the last ninety days, 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.