Edwards Lifesciences (NYSE:EW) updated its FY 2019 earnings guidance on Tuesday. The company provided earnings per share guidance of $5.20-5.40 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $5.29. The company issued revenue guidance of $4-4.3 billion, compared to the consensus revenue estimate of $4.16 billion.Edwards Lifesciences also updated its Q3 2019 guidance to $1.13-1.23 EPS.
A number of brokerages recently commented on EW. Credit Suisse Group lifted their price objective on JPMorgan Chase & Co. from $128.00 to $132.00 and gave the stock an outperform rating in a research report on Monday, April 15th. Zacks Investment Research downgraded CGI from a buy rating to a hold rating in a research report on Wednesday, June 19th. Stifel Nicolaus downgraded Owens Corning from a buy rating to a hold rating and set a $52.45 price objective on the stock. in a research report on Wednesday, April 24th. Deutsche Bank lifted their price objective on Texas Instruments from $100.00 to $110.00 and gave the stock a hold rating in a research report on Wednesday, April 24th. Finally, Jefferies Financial Group downgraded MACOM Technology Solutions from a buy rating to a hold rating and reduced their price objective for the stock from $18.00 to $15.00 in a research report on Wednesday, April 24th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and fourteen have issued a buy rating to the stock. The company presently has a consensus rating of Buy and a consensus target price of $188.75.
NYSE:EW traded up $1.45 on Tuesday, reaching $195.46. The company’s stock had a trading volume of 1,141,571 shares, compared to its average volume of 1,305,756. Edwards Lifesciences has a 12-month low of $134.53 and a 12-month high of $197.86. The company has a current ratio of 3.66, a quick ratio of 2.69 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $40.52 billion, a price-to-earnings ratio of 41.59, a price-to-earnings-growth ratio of 2.48 and a beta of 0.85. The company has a 50 day moving average of $187.46.
Edwards Lifesciences (NYSE:EW) last posted its earnings results on Tuesday, April 23rd. The medical research company reported $1.32 EPS for the quarter, beating the Zacks’ consensus estimate of $1.23 by $0.09. Edwards Lifesciences had a return on equity of 31.16% and a net margin of 20.03%. The company had revenue of $993.00 million for the quarter, compared to the consensus estimate of $989.87 million. During the same quarter in the previous year, the business earned $1.22 earnings per share. The company’s revenue for the quarter was up 11.0% on a year-over-year basis. Research analysts anticipate that Edwards Lifesciences will post 5.29 earnings per share for the current fiscal year.
In other news, VP Catherine M. Szyman sold 1,152 shares of Edwards Lifesciences stock in a transaction on Monday, July 15th. The stock was sold at an average price of $191.70, for a total value of $220,838.40. Following the completion of the sale, the vice president now directly owns 19,162 shares of the company’s stock, valued at $3,673,355.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Donald E. Bobo, Jr. sold 5,369 shares of Edwards Lifesciences stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $190.09, for a total value of $1,020,593.21. Following the completion of the sale, the vice president now directly owns 26,082 shares of the company’s stock, valued at $4,957,927.38. The disclosure for this sale can be found here. Insiders sold 163,895 shares of company stock worth $29,555,839 in the last 90 days. Company insiders own 1.63% 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 and internationally. It offers transcatheter heart valve therapy products comprising transcatheter aortic valve replacement, and transcatheter mitral and tricuspid therapies for the nonsurgical replacement of heart valves.
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