Edwards Lifesciences (NYSE:EW) Releases FY24 Earnings Guidance

Edwards Lifesciences (NYSE:EW) updated its FY24 earnings guidance on Thursday. The company provided EPS guidance of $2.70-2.80 for the period, compared to the consensus EPS 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.

Wall Street Analysts Forecast Growth

EW has been the subject of several research analyst reports. Wells Fargo & Company lifted their price objective on shares of Edwards Lifesciences from $94.00 to $99.00 and gave the company an overweight rating in a research note on Friday. StockNews.com cut shares of Edwards Lifesciences from a buy rating to a hold rating in a research report on Wednesday, March 20th. Royal Bank of Canada raised their target price on Edwards Lifesciences from $95.00 to $101.00 and gave the company an outperform rating in a research note on Monday, April 15th. Stifel Nicolaus upped their price target on Edwards Lifesciences from $83.00 to $85.00 and gave the stock a hold rating in a research note on Friday. Finally, OTR Global raised Edwards Lifesciences from a mixed rating to a positive rating in a research note on Tuesday, March 26th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the company has an average rating of Moderate Buy and an average target price of $93.33.

Edwards Lifesciences Stock Down 1.8 %

Shares of EW stock traded down $1.58 on Friday, hitting $86.43. The stock had a trading volume of 4,979,943 shares, compared to its average volume of 2,883,164. Edwards Lifesciences has a 12-month low of $60.57 and a 12-month high of $96.12. The stock has a market cap of $52.02 billion, a price-to-earnings ratio of 37.25, a price-to-earnings-growth ratio of 4.36 and a beta of 1.05. The business has a 50 day moving average of $90.28 and a 200 day moving average of $78.85. The company has a debt-to-equity ratio of 0.09, a current ratio of 3.38 and a quick ratio of 2.40.

Edwards Lifesciences (NYSE:EW) last posted its earnings results on Thursday, April 25th. The medical research company reported $0.66 EPS for the quarter, topping the consensus estimate of $0.64 by $0.02. The firm had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.58 billion. Edwards Lifesciences had a net margin of 23.01% and a return on equity of 23.34%. As a group, analysts expect that Edwards Lifesciences will post 2.76 EPS for the current year.

Insiders Place Their Bets

In related news, VP Donald E. Bobo, Jr. sold 11,000 shares of the stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $85.83, for a total transaction of $944,130.00. Following the completion of the transaction, the vice president now owns 39,503 shares in the company, valued at $3,390,542.49. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Edwards Lifesciences news, VP Donald E. Bobo, Jr. sold 11,000 shares of the business’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $85.83, for a total value of $944,130.00. Following the sale, the vice president now directly owns 39,503 shares in the company, valued at $3,390,542.49. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Scott B. Ullem sold 7,255 shares of the stock in a transaction 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 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 quarter, insiders have sold 194,004 shares of company stock valued at $17,166,254. Insiders own 1.29% of the company’s stock.

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.