Edwards Lifesciences (NYSE:EW) Releases 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 Q2 guidance to $0.67-0.71 EPS.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Citigroup upped their price objective on shares of Edwards Lifesciences from $90.00 to $98.00 and gave the company a neutral rating in a report on Wednesday, April 3rd. Royal Bank of Canada upped their price objective on shares of Edwards Lifesciences from $95.00 to $101.00 and gave the company an outperform rating in a report on Monday, April 15th. Bank of America upgraded Edwards Lifesciences from a neutral rating to a buy rating in a research report on Thursday, March 7th. Morgan Stanley upped their price objective on Edwards Lifesciences from $95.00 to $103.00 and gave the stock an overweight rating in a research report on Thursday, March 21st. Finally, Oppenheimer increased their target price on 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 assigned a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and an average price target of $91.73.

Edwards Lifesciences Trading Down 0.7 %

NYSE EW traded down $0.60 during trading hours on Thursday, hitting $88.01. 4,166,382 shares of the company’s stock were exchanged, compared to its average volume of 3,828,260. The business’s 50 day moving average is $90.23 and its 200-day moving average is $78.69. Edwards Lifesciences has a 12-month low of $60.57 and a 12-month high of $96.12. The firm has a market capitalization of $52.98 billion, a P/E ratio of 38.53, a price-to-earnings-growth ratio of 4.35 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 posted its earnings results on Tuesday, February 6th. The medical research company reported $0.64 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.64. Edwards Lifesciences had a return on equity of 23.56% and a net margin of 23.35%. 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 firm earned $0.64 earnings per share. The company’s revenue for the quarter was up 13.3% compared to the same quarter last year. As a group, analysts anticipate that Edwards Lifesciences will post 2.76 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Scott B. Ullem sold 7,255 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $94.89, for a total value of $688,426.95. Following the sale, the chief financial officer now owns 19,074 shares of the company’s stock, valued at approximately $1,809,931.86. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director Michael A. Mussallem sold 29,350 shares of the firm’s stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $92.42, for a total value of $2,712,527.00. Following the completion of the transaction, the director now owns 4,486 shares of the company’s stock, valued at approximately $414,596.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Scott B. Ullem sold 7,255 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $94.89, for a total transaction of $688,426.95. Following the completion of the transaction, the chief financial officer now directly owns 19,074 shares of the company’s stock, valued at approximately $1,809,931.86. The disclosure for this sale can be found here. Insiders have sold a total of 194,004 shares of company stock valued at $17,166,254 in the last quarter. 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.