Leerink Partnrs Analysts Cut Earnings Estimates for Edwards Lifesciences Co. (NYSE:EW)

Edwards Lifesciences Co. (NYSE:EW) – Equities researchers at Leerink Partnrs decreased their Q2 2024 EPS estimates for Edwards Lifesciences in a research report issued to clients and investors on Wednesday, July 10th. Leerink Partnrs analyst M. Kratky now expects that the medical research company will earn $0.70 per share for the quarter, down from their previous estimate of $0.71. The consensus estimate for Edwards Lifesciences’ current full-year earnings is $2.77 per share. Leerink Partnrs also issued estimates for Edwards Lifesciences’ Q3 2024 earnings at $0.70 EPS, FY2024 earnings at $2.77 EPS, Q2 2025 earnings at $0.79 EPS, Q4 2025 earnings at $0.81 EPS, FY2026 earnings at $3.51 EPS, FY2027 earnings at $3.94 EPS and FY2028 earnings at $4.27 EPS.

A number of other equities analysts have also recently issued reports on the company. Deutsche Bank Aktiengesellschaft upgraded Edwards Lifesciences from a “hold” rating to a “buy” rating and increased their target price for the stock from $86.00 to $103.00 in a report on Tuesday, May 14th. Stifel Nicolaus upped their price objective on Edwards Lifesciences from $83.00 to $85.00 and gave the company a “hold” rating in a research note on Friday, April 26th. Barclays upped their price objective on Edwards Lifesciences from $100.00 to $101.00 and gave the company an “overweight” rating in a research note on Tuesday, May 7th. Royal Bank of Canada lifted their price target on Edwards Lifesciences from $95.00 to $101.00 and gave the company an “outperform” rating in a research report on Monday, April 15th. Finally, Oppenheimer raised their price target on Edwards Lifesciences from $93.00 to $100.00 and gave the company an “outperform” rating in a report on Monday, March 18th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, Edwards Lifesciences has a consensus rating of “Moderate Buy” and a consensus price target of $95.24.

Edwards Lifesciences Stock Performance

NYSE EW opened at $90.99 on Thursday. The company has a market capitalization of $54.83 billion, a price-to-earnings ratio of 39.22, a PEG ratio of 3.43 and a beta of 1.11. The company has a quick ratio of 2.67, a current ratio of 3.75 and a debt-to-equity ratio of 0.08. Edwards Lifesciences has a twelve month low of $60.57 and a twelve month high of $96.12. The stock has a fifty day simple moving average of $88.97 and a 200 day simple moving average of $86.36.

Edwards Lifesciences (NYSE:EW) last announced its earnings results on Thursday, April 25th. The medical research company reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.02. Edwards Lifesciences had a net margin of 23.01% and a return on equity of 22.86%. The company had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.58 billion.

Hedge Funds Weigh In On Edwards Lifesciences

Several institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its position in shares of Edwards Lifesciences by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 52,964,394 shares of the medical research company’s stock worth $5,061,277,000 after buying an additional 600,994 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Edwards Lifesciences by 9.5% in the 1st quarter. Bank of New York Mellon Corp now owns 18,973,304 shares of the medical research company’s stock valued at $1,813,089,000 after purchasing an additional 1,644,869 shares during the last quarter. Brown Advisory Inc. boosted its stake in Edwards Lifesciences by 20.1% in the 4th quarter. Brown Advisory Inc. now owns 18,181,420 shares of the medical research company’s stock worth $1,386,333,000 after purchasing an additional 3,048,274 shares in the last quarter. Wellington Management Group LLP grew its position in Edwards Lifesciences by 2.4% during the 4th quarter. Wellington Management Group LLP now owns 16,827,510 shares of the medical research company’s stock worth $1,283,098,000 after purchasing an additional 393,109 shares during the last quarter. Finally, Norges Bank acquired a new position in Edwards Lifesciences during the 4th quarter valued at approximately $648,540,000. 79.46% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, VP Donald E. Bobo, Jr. sold 5,000 shares of the business’s stock in a transaction on Wednesday, July 10th. The stock was sold at an average price of $93.29, for a total transaction of $466,450.00. Following the completion of the transaction, the vice president now owns 46,936 shares in the company, valued at approximately $4,378,659.44. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CEO Bernard J. Zovighian sold 8,617 shares of the business’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $87.68, for a total value of $755,538.56. Following the completion of the sale, the chief executive officer now owns 68,218 shares in the company, valued at $5,981,354.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Donald E. Bobo, Jr. sold 5,000 shares of the firm’s stock in a transaction on Wednesday, July 10th. The stock was sold at an average price of $93.29, for a total value of $466,450.00. Following the transaction, the vice president now owns 46,936 shares in the company, valued at $4,378,659.44. The disclosure for this sale can be found here. In the last ninety days, insiders sold 81,099 shares of company stock valued at $7,003,553. Company 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.