Edwards Lifesciences (EW) Releases FY17 Earnings Guidance

Edwards Lifesciences (NYSE:EW) issued an update on its FY17 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $3.65-3.85 for the period, compared to the Thomson Reuters consensus estimate of $3.75. The company issued revenue guidance of $3.2-3.4 billion range, compared to the consensus revenue estimate of $3.39 billion.Edwards Lifesciences also updated its FY18 guidance to $4.10-4.30 EPS.

Shares of Edwards Lifesciences (EW) traded up $0.31 during mid-day trading on Thursday, reaching $113.36. The company’s stock had a trading volume of 1,530,300 shares, compared to its average volume of 1,641,257. The stock has a market capitalization of $23,923.63, a P/E ratio of 31.32, a P/E/G ratio of 2.02 and a beta of 0.51. The company has a quick ratio of 2.76, a current ratio of 3.49 and a debt-to-equity ratio of 0.33. Edwards Lifesciences has a 52 week low of $81.90 and a 52 week high of $121.45.

Edwards Lifesciences (NYSE:EW) last issued its quarterly earnings results on Tuesday, October 24th. The medical research company reported $0.84 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.02). The business had revenue of $821.50 million for the quarter, compared to analysts’ expectations of $833.85 million. Edwards Lifesciences had a return on equity of 27.22% and a net margin of 22.47%. The business’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.68 EPS. equities research analysts anticipate that Edwards Lifesciences will post 3.75 EPS for the current year.

Edwards Lifesciences declared that its board has authorized a stock repurchase plan on Thursday, December 7th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the medical research company to buy shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Several research firms have recently weighed in on EW. Canaccord Genuity restated a buy rating and issued a $137.00 target price on shares of Edwards Lifesciences in a research report on Wednesday, November 29th. Barclays restated an equal weight rating and issued a $120.00 target price on shares of Edwards Lifesciences in a research report on Saturday, September 30th. Zacks Investment Research downgraded Edwards Lifesciences from a strong-buy rating to a hold rating in a research report on Tuesday, September 26th. Deutsche Bank decreased their target price on Edwards Lifesciences from $122.00 to $115.00 and set a hold rating on the stock in a research report on Thursday, October 26th. Finally, BidaskClub downgraded Edwards Lifesciences from a buy rating to a hold rating in a research report on Friday, August 25th. Seven equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of Buy and an average price target of $125.53.

In other Edwards Lifesciences news, VP Larry L. Wood sold 18,960 shares of the firm’s stock in a transaction on Friday, September 15th. The stock was sold at an average price of $112.58, for a total transaction of $2,134,516.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Schack Wesley W. Von sold 1,000 shares of the firm’s stock in a transaction on Thursday, November 9th. The stock was sold at an average price of $104.15, for a total value of $104,150.00. Following the sale, the director now directly owns 2,622 shares of the company’s stock, valued at approximately $273,081.30. The disclosure for this sale can be found here. In the last ninety days, insiders sold 139,580 shares of company stock valued at $14,849,205. Insiders own 2.13% of the company’s stock.

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Edwards Lifesciences Company Profile

Edwards Lifesciences Corporation is a manufacturer of heart valve systems and repair products used to replace or repair a patient’s diseased or defective heart valve. The Company is engaged in patient-focused innovations for structural heart disease and critical care monitoring. Its segments include United States, Europe, Japan and Rest of World.

Earnings History and Estimates for Edwards Lifesciences (NYSE:EW)

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