Edwards Lifesciences (NYSE:EW) Updates Q4 Earnings Guidance

Edwards Lifesciences (NYSE:EW) issued an update on its fourth quarter earnings guidance on Thursday morning. The company provided earnings per share guidance of $0.53-$0.57 for the period, compared to the consensus earnings per share estimate of $0.62. The company issued revenue guidance of $1.33-$1.39 billion, compared to the consensus revenue estimate of $1.39 billion. Edwards Lifesciences also updated its FY 2024 guidance to EPS.

Edwards Lifesciences Price Performance

Shares of EW stock traded down $0.97 during mid-day trading on Friday, hitting $69.38. 8,171,656 shares of the stock traded hands, compared to its average volume of 4,595,216. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.87 and a current ratio of 3.71. The firm has a market cap of $41.81 billion, a price-to-earnings ratio of 29.91, a price-to-earnings-growth ratio of 2.83 and a beta of 1.13. The company’s 50-day simple moving average is $68.08 and its 200-day simple moving average is $78.65. Edwards Lifesciences has a twelve month low of $58.93 and a twelve month high of $96.12.

Edwards Lifesciences (NYSE:EW) last issued its earnings results on Thursday, October 24th. The medical research company reported $0.67 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.67. The business had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.57 billion. Edwards Lifesciences had a return on equity of 22.35% and a net margin of 24.55%. The company’s quarterly revenue was up 8.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.59 EPS. As a group, equities research analysts expect that Edwards Lifesciences will post 2.71 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages recently issued reports on EW. Evercore ISI decreased their target price on Edwards Lifesciences from $76.00 to $70.00 and set an “in-line” rating on the stock in a report on Tuesday, October 1st. Robert W. Baird decreased their target price on Edwards Lifesciences from $73.00 to $68.00 and set a “neutral” rating for the company in a research report on Friday. Bank of America cut Edwards Lifesciences from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $105.00 to $75.00 in a research report on Thursday, July 25th. Wolfe Research raised Edwards Lifesciences from an “underperform” rating to a “peer perform” rating in a research report on Monday, July 29th. Finally, Barclays decreased their target price on Edwards Lifesciences from $90.00 to $80.00 and set an “overweight” rating for the company in a research report on Monday, September 9th. Fifteen research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $75.67.

Insiders Place Their Bets

In other Edwards Lifesciences news, VP Daveen Chopra sold 1,250 shares of the business’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $69.95, for a total value of $87,437.50. Following the completion of the sale, the vice president now owns 29,333 shares of the company’s stock, valued at $2,051,843.35. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, VP Daveen Chopra sold 1,250 shares of Edwards Lifesciences stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $69.95, for a total value of $87,437.50. Following the transaction, the vice president now directly owns 29,333 shares in the company, valued at approximately $2,051,843.35. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Donald E. Bobo, Jr. sold 5,000 shares of Edwards Lifesciences stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $66.77, for a total value of $333,850.00. Following the completion of the transaction, the vice president now owns 46,936 shares in the company, valued at $3,133,916.72. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 16,250 shares of company stock valued at $1,099,238 over the last quarter. Insiders own 1.29% of the company’s stock.

Edwards Lifesciences Company Profile

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.