Edwards Lifesciences Co. (NYSE:EW) Expected to Post Quarterly Sales of $1.35 Billion

Equities analysts forecast that Edwards Lifesciences Co. (NYSE:EW) will post $1.35 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Nine analysts have provided estimates for Edwards Lifesciences’ earnings, with estimates ranging from $1.32 billion to $1.37 billion. Edwards Lifesciences posted sales of $1.19 billion during the same quarter last year, which would indicate a positive year over year growth rate of 13.4%. The company is expected to report its next quarterly earnings report on Wednesday, January 26th.

According to Zacks, analysts expect that Edwards Lifesciences will report full year sales of $5.25 billion for the current year, with estimates ranging from $5.23 billion to $5.28 billion. For the next fiscal year, analysts anticipate that the business will post sales of $5.80 billion, with estimates ranging from $5.62 billion to $5.94 billion. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for Edwards Lifesciences.

Edwards Lifesciences (NYSE:EW) last released its quarterly earnings data on Wednesday, October 27th. The medical research company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.01. Edwards Lifesciences had a return on equity of 28.13% and a net margin of 29.00%. The company had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same period in the prior year, the company posted $0.51 EPS. The company’s revenue was up 14.8% compared to the same quarter last year.

A number of equities research analysts recently commented on the company. The Goldman Sachs Group increased their price target on Edwards Lifesciences from $93.00 to $105.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 3rd. Canaccord Genuity increased their price target on Edwards Lifesciences from $103.00 to $124.00 and gave the stock a “buy” rating in a research report on Friday, July 30th. SVB Leerink upped their price objective on Edwards Lifesciences from $125.00 to $130.00 and gave the stock an “outperform” rating in a report on Friday, July 30th. Credit Suisse Group upped their price objective on Edwards Lifesciences from $126.00 to $130.00 and gave the stock an “outperform” rating in a report on Thursday, October 28th. Finally, Raymond James upped their price objective on Edwards Lifesciences from $122.00 to $127.00 and gave the stock an “outperform” rating in a report on Thursday, October 28th. Nine equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, Edwards Lifesciences currently has a consensus rating of “Buy” and an average price target of $117.84.

Shares of EW stock traded up $1.86 during trading hours on Friday, hitting $114.49. The company had a trading volume of 2,147,897 shares, compared to its average volume of 2,422,656. The firm has a market capitalization of $71.48 billion, a price-to-earnings ratio of 48.72, a PEG ratio of 3.69 and a beta of 1.01. Edwards Lifesciences has a 12 month low of $78.44 and a 12 month high of $123.27. The firm’s fifty day moving average is $115.34 and its 200 day moving average is $109.68. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.87 and a current ratio of 3.64.

In other news, Director Nicholas J. Valeriani bought 1,500 shares of the stock in a transaction on Wednesday, November 24th. The stock was purchased at an average price of $112.23 per share, for a total transaction of $168,345.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP Larry L. Wood sold 7,830 shares of the stock in a transaction dated Monday, October 11th. The stock was sold at an average price of $108.00, for a total value of $845,640.00. The disclosure for this sale can be found here. Insiders have sold a total of 146,351 shares of company stock worth $16,970,864 in the last ninety days. 1.35% of the stock is currently owned by company insiders.

Large investors have recently modified their holdings of the stock. Liberty Wealth Management LLC lifted its stake in Edwards Lifesciences by 362.3% in the 3rd quarter. Liberty Wealth Management LLC now owns 245 shares of the medical research company’s stock valued at $29,000 after purchasing an additional 192 shares during the last quarter. Baldrige Asset Management LLC acquired a new stake in Edwards Lifesciences in the 2nd quarter valued at about $31,000. Bedel Financial Consulting Inc. acquired a new stake in Edwards Lifesciences in the 2nd quarter valued at about $31,000. West Oak Capital LLC acquired a new stake in Edwards Lifesciences in the 3rd quarter valued at about $34,000. Finally, Canton Hathaway LLC acquired a new stake in Edwards Lifesciences in the 3rd quarter valued at about $36,000. Institutional investors and hedge funds own 80.60% of the company’s stock.

About Edwards Lifesciences

Edwards Lifesciences Corp. engages in the patient-focused medical innovations for heart disease and critical care monitoring. Its products are categorized into three areas: Transcatheter Heart Valves, Surgical Structural Heart, and Critical Care. The Transcatheter Heart Valves portfolio includes technologies designed to treat heart valve disease using catheter-based approaches as opposed to open surgical techniques.

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Earnings History and Estimates for Edwards Lifesciences (NYSE:EW)

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