Edwards Lifesciences (NYSE:EW) Announces Quarterly Earnings Results, Meets Expectations

Edwards Lifesciences (NYSE:EW) released its quarterly earnings data on Thursday. The medical research company reported $0.67 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.67, Briefing.com reports. The company had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.57 billion. Edwards Lifesciences had a net margin of 24.55% and a return on equity of 22.35%. Edwards Lifesciences’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.59 earnings per share.

Edwards Lifesciences Price Performance

EW traded down $0.93 during trading on Friday, reaching $69.42. 5,894,896 shares of the stock were exchanged, compared to its average volume of 4,584,217. The business’s 50 day moving average price is $68.04 and its two-hundred day moving average price is $78.71. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.71 and a quick ratio of 2.87. The company has a market capitalization of $41.83 billion, a price-to-earnings ratio of 30.25, a P/E/G ratio of 2.83 and a beta of 1.13. Edwards Lifesciences has a 1 year low of $58.93 and a 1 year high of $96.12.

Wall Street Analysts Forecast Growth

EW has been the topic of a number of research reports. Baird R W downgraded Edwards Lifesciences from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 25th. Deutsche Bank Aktiengesellschaft dropped their target price on Edwards Lifesciences from $103.00 to $85.00 and set a “buy” rating on the stock in a report on Thursday, July 25th. Citigroup cut their price objective on shares of Edwards Lifesciences from $83.00 to $77.00 and set a “buy” rating for the company in a research report on Tuesday, October 1st. Bank of America lowered shares of Edwards Lifesciences from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $105.00 to $75.00 in a research note on Thursday, July 25th. Finally, UBS Group lowered their price objective on Edwards Lifesciences from $90.00 to $75.00 and set a “neutral” rating on the stock in a report on Tuesday, September 10th. Fifteen equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $75.67.

Insiders Place Their Bets

In other Edwards Lifesciences news, VP Donald E. Bobo, Jr. sold 5,000 shares of Edwards Lifesciences stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $69.51, for a total transaction of $347,550.00. Following the sale, the vice president now directly owns 46,936 shares in the company, valued at $3,262,521.36. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Edwards Lifesciences news, VP Donald E. Bobo, Jr. sold 5,000 shares of the firm’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $69.51, for a total transaction of $347,550.00. Following the completion of the transaction, the vice president now directly owns 46,936 shares of the company’s stock, valued at $3,262,521.36. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Daveen Chopra sold 1,250 shares of the company’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $69.95, for a total transaction of $87,437.50. Following the completion of the sale, the vice president now owns 29,333 shares in the company, valued at approximately $2,051,843.35. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 16,250 shares of company stock worth $1,099,238. 1.29% of the stock is owned by corporate 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.