Edwards Lifesciences Co. Forecasted to Earn Q1 2024 Earnings of $0.65 Per Share (NYSE:EW)

Edwards Lifesciences Co. (NYSE:EW) – Equities research analysts at Leerink Partnrs reduced their Q1 2024 earnings estimates for Edwards Lifesciences in a research note issued to investors on Wednesday, April 17th. Leerink Partnrs analyst M. Kratky now expects that the medical research company will post earnings of $0.65 per share for the quarter, down from their prior forecast of $0.66. The consensus estimate for Edwards Lifesciences’ current full-year earnings is $2.76 per share. Leerink Partnrs also issued estimates for Edwards Lifesciences’ Q2 2024 earnings at $0.71 EPS, FY2024 earnings at $2.75 EPS, FY2025 earnings at $3.11 EPS, FY2026 earnings at $3.52 EPS, FY2027 earnings at $3.94 EPS and FY2028 earnings at $4.28 EPS.

Edwards Lifesciences (NYSE:EW) last issued its quarterly earnings results on Tuesday, February 6th. The medical research company reported $0.64 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.64. Edwards Lifesciences had a net margin of 23.35% and a return on equity of 23.56%. The business had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same period in the previous year, the business posted $0.64 earnings per share. The business’s revenue was up 13.3% compared to the same quarter last year.

Other research analysts have also issued reports about the stock. Royal Bank of Canada boosted their price target on shares of Edwards Lifesciences from $95.00 to $101.00 and gave the stock an “outperform” rating in a research note on Monday. Stifel Nicolaus boosted their price objective on shares of Edwards Lifesciences from $70.00 to $83.00 and gave the stock a “hold” rating in a report on Wednesday, February 7th. Oppenheimer boosted their price objective on shares of Edwards Lifesciences from $93.00 to $100.00 and gave the stock an “outperform” rating in a report on Monday, March 18th. Mizuho boosted their price objective on shares of Edwards Lifesciences from $95.00 to $105.00 and gave the stock a “buy” rating in a report on Thursday, April 11th. Finally, Evercore ISI boosted their price objective on shares of Edwards Lifesciences from $86.00 to $92.00 and gave the stock an “in-line” rating in a report on Thursday, April 4th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $91.73.

Edwards Lifesciences Trading Down 0.9 %

Shares of Edwards Lifesciences stock opened at $86.45 on Friday. Edwards Lifesciences has a 52-week low of $60.57 and a 52-week high of $96.12. The company has a quick ratio of 2.40, a current ratio of 3.38 and a debt-to-equity ratio of 0.09. The company’s 50-day simple moving average is $90.14 and its 200-day simple moving average is $78.19. The firm has a market cap of $52.04 billion, a price-to-earnings ratio of 37.59, a price-to-earnings-growth ratio of 4.32 and a beta of 1.05.

Institutional Investors Weigh In On Edwards Lifesciences

Large investors have recently made changes to their positions in the business. Castleview Partners LLC acquired a new stake in shares of Edwards Lifesciences in the first quarter worth $25,000. DSM Capital Partners LLC acquired a new stake in shares of Edwards Lifesciences in the fourth quarter worth $28,000. Compass Wealth Management LLC acquired a new stake in shares of Edwards Lifesciences in the fourth quarter worth $31,000. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Edwards Lifesciences in the fourth quarter worth $34,000. Finally, Riverview Trust Co acquired a new stake in shares of Edwards Lifesciences in the first quarter worth $34,000. Institutional investors and hedge funds own 79.46% of the company’s stock.

Insider Activity at Edwards Lifesciences

In related news, CFO Scott B. Ullem sold 7,255 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now owns 19,248 shares of the company’s stock, valued at $1,506,925.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, VP Catherine M. Szyman sold 27,000 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $85.62, for a total transaction of $2,311,740.00. Following the completion of the transaction, the vice president now owns 34,814 shares of the company’s stock, valued at $2,980,774.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Scott B. Ullem sold 7,255 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $78.29, for a total transaction 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 disclosure for this sale can be found here. Over the last 90 days, insiders have sold 194,004 shares of company stock valued at $17,166,254. Company 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.