Edwards Lifesciences (NYSE:EW) Updates Q3 2024 Earnings Guidance

Edwards Lifesciences (NYSE:EW) updated its third quarter 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 0.670-0.710 for the period, compared to the consensus earnings per share estimate of 0.690. The company issued revenue guidance of $1.6 billion-$1.6 billion, compared to the consensus revenue estimate of $1.6 billion. Edwards Lifesciences also updated its Q3 guidance to $0.67-0.71 EPS.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on EW. Piper Sandler raised their target price on Edwards Lifesciences from $85.00 to $88.00 and gave the stock a neutral rating in a research note on Friday, April 26th. The Goldman Sachs Group began coverage on Edwards Lifesciences in a research note on Thursday, May 30th. They set a buy rating and a $107.00 target price for the company. Barclays raised their target price on Edwards Lifesciences from $100.00 to $101.00 and gave the stock an overweight rating in a research note on Tuesday, May 7th. Deutsche Bank Aktiengesellschaft raised Edwards Lifesciences from a hold rating to a buy rating and raised their target price for the stock from $86.00 to $103.00 in a research note on Tuesday, May 14th. Finally, StockNews.com upgraded Edwards Lifesciences from a hold rating to a buy rating in a research report on Thursday, June 27th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average target price of $96.13.

Edwards Lifesciences Stock Down 0.1 %

NYSE:EW traded down $0.10 during midday trading on Wednesday, reaching $86.95. The company had a trading volume of 3,981,983 shares, compared to its average volume of 3,397,984. The firm has a market capitalization of $52.40 billion, a price-to-earnings ratio of 37.29, a PEG ratio of 3.22 and a beta of 1.11. The stock’s fifty day simple moving average is $89.18 and its 200-day simple moving average is $87.12. Edwards Lifesciences has a 12-month low of $60.57 and a 12-month high of $96.12. The company has a current ratio of 3.75, a quick ratio of 2.67 and a debt-to-equity ratio of 0.08.

Edwards Lifesciences (NYSE:EW) last announced its quarterly earnings results on Thursday, April 25th. The medical research company reported $0.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.02. The company had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.58 billion. Edwards Lifesciences had a return on equity of 22.86% and a net margin of 23.01%. On average, sell-side analysts anticipate that Edwards Lifesciences will post 2.77 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Edwards Lifesciences news, CEO Bernard J. Zovighian purchased 580 shares of the firm’s stock in a transaction on Monday, May 6th. The stock was bought at an average cost of $85.74 per share, with a total value of $49,729.20. Following the acquisition, the chief executive officer now directly owns 3,268 shares of the company’s stock, valued at $280,198.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Edwards Lifesciences news, CEO Bernard J. Zovighian purchased 580 shares of the firm’s stock in a transaction on Monday, May 6th. The stock was bought at an average cost of $85.74 per share, with a total value of $49,729.20. Following the acquisition, the chief executive officer now directly owns 3,268 shares of the company’s stock, valued at $280,198.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, 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, July 10th. The stock was sold at an average price of $93.29, for a total value of $466,450.00. Following the sale, the vice president now owns 46,936 shares in the company, valued at approximately $4,378,659.44. The disclosure for this sale can be found here. Insiders sold 81,099 shares of company stock valued at $7,003,553 in the last ninety days. 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.