Edwards Lifesciences (NYSE:EW) Updates 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.

Analyst Upgrades and Downgrades

EW has been the subject of a number of research reports. Evercore ISI raised their price target on shares of Edwards Lifesciences from $86.00 to $92.00 and gave the company an in-line rating in a report on Thursday, April 4th. Bank of America raised shares of Edwards Lifesciences from a neutral rating to a buy rating in a report on Thursday, March 7th. OTR Global raised shares of Edwards Lifesciences from a mixed rating to a positive rating in a report on Tuesday, March 26th. Mizuho lifted their target price 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, Royal Bank of Canada lifted their target price on shares of Edwards Lifesciences from $95.00 to $101.00 and gave the stock an outperform rating in a report on Monday, April 15th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, Edwards Lifesciences presently has a consensus rating of Moderate Buy and a consensus target price of $91.73.

Edwards Lifesciences Stock Down 0.7 %

NYSE:EW traded down $0.60 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 firm has a 50-day moving average price of $90.23 and a 200-day moving average price of $78.69. The company has a debt-to-equity ratio of 0.09, a current ratio of 3.38 and a quick ratio of 2.40. Edwards Lifesciences has a 52 week low of $60.57 and a 52 week high of $96.12. The company has a market cap 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.

Edwards Lifesciences (NYSE:EW) last issued its quarterly earnings results on Tuesday, February 6th. The medical research company reported $0.64 EPS for the quarter, hitting the consensus estimate of $0.64. Edwards Lifesciences had a net margin of 23.35% and a return on equity of 23.56%. The firm had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.50 billion. During the same period in the previous year, the firm posted $0.64 EPS. The company’s revenue for the quarter was up 13.3% on a year-over-year basis. As a group, analysts expect that Edwards Lifesciences will post 2.76 EPS for the current fiscal year.

Insider Activity

In other news, CFO Scott B. Ullem sold 7,255 shares of the company’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $78.29, for a total value of $567,993.95. Following the sale, 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 legal filing with the SEC, which can be accessed through the SEC website. In other Edwards Lifesciences news, SVP Robert W.A. Sellers sold 12,210 shares of the stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $87.00, for a total transaction of $1,062,270.00. Following the transaction, the senior vice president now owns 13,087 shares in the company, valued at approximately $1,138,569. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Scott B. Ullem sold 7,255 shares of the 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 owns 19,248 shares in the company, valued at approximately $1,506,925.92. 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 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.