Edwards Lifesciences (NYSE:EW) Releases Q3 2024 Earnings Guidance

Edwards Lifesciences (NYSE:EW) updated its third quarter 2024 earnings guidance on Wednesday. The company provided EPS guidance of 0.670-0.710 for the period, compared to the consensus EPS estimate of 0.690. The company issued revenue guidance of $1.6 billion-$1.6 billion, compared to the consensus revenue estimate of $1.6 billion. Edwards Lifesciences also updated its Q3 guidance to $0.67-0.71 EPS.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on EW. TD Cowen downgraded shares of Edwards Lifesciences from a buy rating to a hold rating and dropped their price target for the stock from $100.00 to $70.00 in a research note on Thursday. Stifel Nicolaus dropped their price target on shares of Edwards Lifesciences from $85.00 to $70.00 and set a hold rating on the stock in a research note on Thursday. Mizuho upped their price target 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. Oppenheimer lowered their target price on shares of Edwards Lifesciences from $100.00 to $90.00 and set an outperform rating on the stock in a research report on Thursday. Finally, StockNews.com upgraded Edwards Lifesciences from a hold rating to a buy rating in a report on Thursday, June 27th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of Hold and an average target price of $84.57.

Edwards Lifesciences Stock Performance

EW stock traded down $27.25 during trading on Thursday, reaching $59.70. 45,810,475 shares of the stock were exchanged, compared to its average volume of 3,698,478. Edwards Lifesciences has a twelve month low of $58.93 and a twelve month high of $96.12. 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. The stock has a 50 day simple moving average of $89.12 and a 200-day simple moving average of $87.12. The company has a current ratio of 3.75, a quick ratio of 2.67 and a debt-to-equity ratio of 0.08.

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

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 sale, the vice president now directly owns 46,936 shares of the company’s stock, valued at $4,378,659.44. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Edwards Lifesciences news, VP Jean-Luc M. Lemercier sold 14,400 shares of Edwards Lifesciences stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $84.21, for a total transaction of $1,212,624.00. Following the sale, the vice president now directly owns 173,849 shares of the company’s stock, valued at $14,639,824.29. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Donald E. Bobo, Jr. sold 5,000 shares of Edwards Lifesciences stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $93.29, for a total value of $466,450.00. Following the sale, the vice president now directly owns 46,936 shares in the company, valued at $4,378,659.44. The disclosure for this sale can be found here. Insiders have sold a total of 81,099 shares of company stock valued at $7,003,553 over the last three months. 1.29% of the stock is 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.