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

Edwards Lifesciences (NYSE:EW) issued an update on its third quarter 2024 earnings guidance on Wednesday morning. 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.

Edwards Lifesciences Stock Up 4.5 %

NYSE:EW traded up $2.67 during midday trading on Friday, reaching $62.37. The company had a trading volume of 14,111,391 shares, compared to its average volume of 5,310,790. Edwards Lifesciences has a 12-month low of $58.93 and a 12-month high of $96.12. The firm has a market capitalization of $37.58 billion, a price-to-earnings ratio of 26.88, a PEG ratio of 2.22 and a beta of 1.11. The company has a current ratio of 3.71, a quick ratio of 2.67 and a debt-to-equity ratio of 0.08. The stock’s fifty day simple moving average is $87.98 and its 200-day simple moving average is $86.84.

Edwards Lifesciences (NYSE:EW) last issued its earnings results on Wednesday, July 24th. The medical research company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.01. Edwards Lifesciences had a net margin of 24.55% and a return on equity of 22.35%. The firm had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.65 billion. During the same quarter last year, the company earned $0.66 earnings per share. The firm’s revenue was up 6.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Edwards Lifesciences will post 2.73 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

EW has been the subject of several research analyst reports. JPMorgan Chase & Co. downgraded shares of Edwards Lifesciences from an overweight rating to a neutral rating and decreased their price objective for the company from $105.00 to $72.00 in a research note on Thursday. Truist Financial downgraded Edwards Lifesciences from a buy rating to a hold rating and dropped their price target for the stock from $110.00 to $82.00 in a research note on Thursday. Stifel Nicolaus reduced their price objective on Edwards Lifesciences from $85.00 to $70.00 and set a hold rating for the company in a research note on Thursday. TD Cowen lowered shares of Edwards Lifesciences from a buy rating to a hold rating and lowered their target price for the stock from $100.00 to $70.00 in a research report on Thursday. Finally, StockNews.com downgraded shares of Edwards Lifesciences from a buy rating to a hold rating in a research report on Thursday. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of Hold and an average target price of $82.10.

Insider Activity

In other Edwards Lifesciences news, VP Jean-Luc M. Lemercier sold 14,400 shares of the stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $84.21, for a total transaction of $1,212,624.00. Following the transaction, the vice president now owns 173,849 shares of the company’s stock, valued at $14,639,824.29. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, VP Jean-Luc M. Lemercier sold 14,400 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $84.21, for a total value of $1,212,624.00. Following the transaction, the vice president now directly owns 173,849 shares in the company, valued at approximately $14,639,824.29. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Donald E. Bobo, Jr. sold 5,000 shares of Edwards Lifesciences stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $93.29, for a total value of $466,450.00. Following the completion of the transaction, 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 sold a total of 81,099 shares of company stock valued at $7,003,553 in the last 90 days. 1.29% of the stock is currently owned by insiders.

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.