Edwards Lifesciences (NYSE:EW) Issues FY24 Earnings Guidance

Edwards Lifesciences (NYSE:EW) updated its FY24 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $2.70-2.80 for the period, compared to the consensus estimate of $2.75. The company issued revenue guidance of high end of $6.3-3.6 billion, compared to the consensus revenue estimate of $6.52 billion. Edwards Lifesciences also updated its FY 2024 guidance to 2.700-2.800 EPS.

Analyst Ratings Changes

A number of brokerages have commented on EW. Oppenheimer boosted their price target on shares of Edwards Lifesciences from $93.00 to $100.00 and gave the company an outperform rating in a research note on Monday, March 18th. Mizuho upped their target price on shares of Edwards Lifesciences from $95.00 to $105.00 and gave the stock a buy rating in a research note on Thursday, April 11th. Royal Bank of Canada upped their target price on shares of Edwards Lifesciences from $95.00 to $101.00 and gave the stock an outperform rating in a research note on Monday, April 15th. Stifel Nicolaus upped their target price on shares of Edwards Lifesciences from $83.00 to $85.00 and gave the stock a hold rating in a research note on Friday. Finally, Evercore ISI cut their price target on shares of Edwards Lifesciences from $92.00 to $89.00 and set an in-line rating on the stock in a report on Friday. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average price target of $93.33.

Edwards Lifesciences Trading Down 1.8 %

EW stock traded down $1.58 on Friday, reaching $86.43. The company’s stock had a trading volume of 4,979,943 shares, compared to its average volume of 2,883,164. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.40 and a current ratio of 3.38. The firm has a market cap of $52.02 billion, a PE ratio of 37.25, a PEG ratio of 4.36 and a beta of 1.05. The business has a fifty day simple moving average of $90.28 and a two-hundred day simple moving average of $78.85. Edwards Lifesciences has a 12-month low of $60.57 and a 12-month high of $96.12.

Edwards Lifesciences (NYSE:EW) last announced its quarterly earnings data on Thursday, April 25th. The medical research company reported $0.66 EPS for the quarter, beating the consensus estimate of $0.64 by $0.02. The business had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.58 billion. Edwards Lifesciences had a return on equity of 23.34% and a net margin of 23.01%. As a group, research analysts forecast that Edwards Lifesciences will post 2.76 EPS for the current year.

Insider Buying and Selling at Edwards Lifesciences

In other news, CFO Scott B. Ullem sold 7,255 shares of Edwards Lifesciences stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $78.29, for a total transaction of $567,993.95. Following 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CFO Scott B. Ullem sold 7,255 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $78.29, for a total value of $567,993.95. Following 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Robert W.A. Sellers sold 12,210 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $87.00, for a total value of $1,062,270.00. Following the completion of the transaction, the senior vice president now directly owns 13,087 shares in the company, valued at $1,138,569. The disclosure for this sale can be found here. Insiders sold a total of 194,004 shares of company stock worth $17,166,254 in the last three months. 1.29% of the stock is currently owned by company 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.