Edwards Lifesciences (NYSE:EW) Issues Q3 Earnings Guidance

Edwards Lifesciences (NYSE:EW) issued an update on its third quarter earnings guidance on Wednesday morning. The company provided EPS guidance of $0.67-0.71 for the period, compared to the consensus EPS estimate of $0.69. The company issued revenue guidance of $1.56-1.64 billion, compared to the consensus revenue estimate of $1.62 billion. Edwards Lifesciences also updated its Q3 2024 guidance to 0.670-0.710 EPS.

Edwards Lifesciences Trading Down 31.3 %

NYSE:EW traded down $27.25 during trading hours on Thursday, hitting $59.70. 45,959,203 shares of the stock were exchanged, compared to its average volume of 3,698,478. The company’s 50 day moving average is $89.12 and its two-hundred day moving average is $87.12. Edwards Lifesciences has a twelve month low of $58.93 and a twelve month high of $96.12. The company has a quick ratio of 2.67, a current ratio of 3.75 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $35.98 billion, a P/E ratio of 26.20, a price-to-earnings-growth ratio of 3.19 and a beta of 1.11.

Edwards Lifesciences (NYSE:EW) last posted its quarterly earnings data on Wednesday, July 24th. The medical research company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.01. Edwards Lifesciences had a return on equity of 22.86% and a net margin of 23.01%. The firm had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.65 billion. During the same quarter in the prior year, the business earned $0.66 EPS. The business’s revenue for the quarter was up 6.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Edwards Lifesciences will post 2.77 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on EW shares. Piper Sandler cut their price target on Edwards Lifesciences from $88.00 to $73.00 and set a neutral rating on the stock in a research note on Thursday. Deutsche Bank Aktiengesellschaft dropped their price objective on Edwards Lifesciences from $103.00 to $85.00 and set a buy rating on the stock in a research note on Thursday. Royal Bank of Canada dropped their price objective on Edwards Lifesciences from $101.00 to $85.00 and set an outperform rating on the stock in a research note on Thursday. The Goldman Sachs Group initiated coverage on Edwards Lifesciences in a research note on Thursday, May 30th. They set a buy rating and a $107.00 price objective on the stock. Finally, Canaccord Genuity Group dropped their price objective on Edwards Lifesciences from $85.00 to $77.00 and set a hold rating on the stock in a research note on Thursday. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Edwards Lifesciences currently has an average rating of Hold and a consensus target price of $84.57.

Insider Buying and Selling

In related news, VP Donald E. Bobo, Jr. sold 5,000 shares of Edwards Lifesciences stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $93.29, for a total transaction of $466,450.00. Following the completion of the transaction, the vice president now owns 46,936 shares in the company, valued at $4,378,659.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Edwards Lifesciences news, CFO Scott B. Ullem sold 5,625 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $90.45, for a total transaction of $508,781.25. Following the completion of the sale, the chief financial officer now directly owns 30,561 shares in the company, valued at $2,764,242.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Donald E. Bobo, Jr. sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $93.29, for a total transaction of $466,450.00. Following the sale, the vice president now owns 46,936 shares of the company’s stock, valued at $4,378,659.44. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 81,099 shares of company stock worth $7,003,553. Company insiders own 1.29% 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, 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.