Edwards Lifesciences (NYSE:EW) Issues Q3 Earnings Guidance

Edwards Lifesciences (NYSE:EW) updated its third quarter earnings guidance on Wednesday. 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.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on EW. Truist Financial downgraded Edwards Lifesciences from a buy rating to a hold rating and cut their target price for the stock from $110.00 to $82.00 in a research note on Thursday. TD Cowen downgraded Edwards Lifesciences from a buy rating to a hold rating and cut their price objective for the stock from $100.00 to $70.00 in a research report on Thursday. Royal Bank of Canada cut their price objective on Edwards Lifesciences from $101.00 to $85.00 and set an outperform rating for the company in a research report on Thursday. Wells Fargo & Company cut their price objective on Edwards Lifesciences from $99.00 to $90.00 and set an overweight rating for the company in a research report on Thursday. Finally, StockNews.com raised Edwards Lifesciences from a hold rating to a buy rating in a research report on Thursday, June 27th. One research 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. According to MarketBeat, the stock currently has a consensus rating of Hold and a consensus target price of $84.57.

Edwards Lifesciences Stock Down 31.3 %

EW stock traded down $27.25 during trading on Thursday, hitting $59.70. 45,959,203 shares of the company’s stock were exchanged, compared to its average volume of 3,698,478. The business has a 50-day moving average price of $89.12 and a two-hundred day moving average price of $87.12. The stock has a market capitalization of $35.98 billion, a price-to-earnings ratio of 26.20, a PEG ratio of 3.19 and a beta of 1.11. Edwards Lifesciences has a 52-week low of $58.93 and a 52-week high of $96.12. 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 quarterly earnings results on Wednesday, July 24th. The medical research company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.69 by $0.01. The company had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.65 billion. Edwards Lifesciences had a return on equity of 22.86% and a net margin of 23.01%. The firm’s revenue was up 6.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.66 earnings per share. As a group, equities research analysts expect that Edwards Lifesciences will post 2.77 EPS for the current year.

Insider Activity

In other news, VP Donald E. Bobo, Jr. sold 5,000 shares of the business’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 value of $466,450.00. Following the transaction, the vice president now owns 46,936 shares of the company’s stock, valued at $4,378,659.44. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, VP Donald E. Bobo, Jr. sold 5,000 shares of Edwards Lifesciences stock in a transaction that occurred on Wednesday, July 10th. The stock was 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Scott B. Ullem sold 7,250 shares of Edwards Lifesciences stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $85.80, for a total value of $622,050.00. Following the completion of the sale, the chief financial officer now owns 19,074 shares in the company, valued at $1,636,549.20. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 81,099 shares of company stock valued at $7,003,553. Company 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.