Edwards Lifesciences (NYSE:EW) Updates Q2 2024 Earnings Guidance

Edwards Lifesciences (NYSE:EW) issued an update on its second quarter 2024 earnings guidance on Thursday morning. The company provided EPS guidance of 0.670-0.710 for the period, compared to the consensus EPS estimate of 0.700. The company issued revenue guidance of $1.6 billion-$1.7 billion, compared to the consensus revenue estimate of $1.6 billion. Edwards Lifesciences also updated its FY 2024 guidance to 2.700-2.800 EPS.

Analyst Ratings Changes

A number of research analysts recently commented on EW shares. Stifel Nicolaus upped their price target on shares of Edwards Lifesciences from $70.00 to $83.00 and gave the company a hold rating in a research note on Wednesday, February 7th. Oppenheimer upped their target price on Edwards Lifesciences from $93.00 to $100.00 and gave the company an outperform rating in a research report on Monday, March 18th. OTR Global raised Edwards Lifesciences from a mixed rating to a positive rating in a report on Tuesday, March 26th. Bank of America raised Edwards Lifesciences from a neutral rating to a buy rating in a report on Thursday, March 7th. Finally, Wells Fargo & Company raised Edwards Lifesciences from an equal weight rating to an overweight rating and set a $94.00 target price for the company in a report on Friday, February 2nd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, Edwards Lifesciences presently has a consensus rating of Moderate Buy and an average price target of $91.73.

Edwards Lifesciences Price Performance

Shares of NYSE:EW traded down $0.60 during midday trading on Thursday, hitting $88.01. The stock had a trading volume of 4,166,251 shares, compared to its average volume of 3,829,875. The company has a quick ratio of 2.40, a current ratio of 3.38 and a debt-to-equity ratio of 0.09. The company has a market capitalization of $52.98 billion, a P/E ratio of 38.53, a price-to-earnings-growth ratio of 4.35 and a beta of 1.05. The company’s 50-day moving average price is $90.23 and its 200-day moving average price is $78.69. Edwards Lifesciences has a fifty-two week low of $60.57 and a fifty-two week high of $96.12.

Edwards Lifesciences (NYSE:EW) last announced its quarterly earnings data on Tuesday, February 6th. The medical research company reported $0.64 EPS for the quarter, meeting the consensus estimate of $0.64. The business had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.50 billion. Edwards Lifesciences had a net margin of 23.35% and a return on equity of 23.56%. The company’s revenue was up 13.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.64 earnings per share. As a group, equities research analysts predict that Edwards Lifesciences will post 2.76 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Scott B. Ullem sold 7,255 shares of the stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $78.29, for a total value of $567,993.95. Following the completion of the transaction, the chief financial officer now owns 19,248 shares of the company’s stock, valued at approximately $1,506,925.92. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, VP Catherine M. Szyman sold 27,000 shares of Edwards Lifesciences stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $85.62, for a total transaction of $2,311,740.00. Following the sale, the vice president now directly owns 34,814 shares of the company’s stock, valued at $2,980,774.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Scott B. Ullem sold 7,255 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $78.29, for a total value of $567,993.95. Following the completion of the transaction, the chief financial officer now directly owns 19,248 shares of the company’s stock, valued at approximately $1,506,925.92. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 194,004 shares of company stock valued at $17,166,254. 1.29% of the stock is currently owned by corporate insiders.

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.