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

Edwards Lifesciences (NYSE:EW) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 2.700-2.800 for the period, compared to the consensus estimate of 2.750. The company issued revenue guidance of $6.6 billion-$6.6 billion, compared to the consensus revenue estimate of $6.5 billion. Edwards Lifesciences also updated its FY24 guidance to $2.70-2.80 EPS.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Morgan Stanley increased their price target on Edwards Lifesciences from $95.00 to $103.00 and gave the stock an overweight rating in a research report on Thursday, March 21st. Piper Sandler increased their price target on Edwards Lifesciences from $85.00 to $88.00 and gave the stock a neutral rating in a research report on Friday. Oppenheimer increased their target price on Edwards Lifesciences from $93.00 to $100.00 and gave the company an outperform rating in a report on Monday, March 18th. StockNews.com cut Edwards Lifesciences from a buy rating to a hold rating in a report on Wednesday, March 20th. Finally, Mizuho increased their target price on Edwards Lifesciences from $95.00 to $105.00 and gave the company a buy rating in a report on Thursday, April 11th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have given a buy rating to the company. According to MarketBeat, the company has an average rating of Moderate Buy and an average price target of $93.33.

Edwards Lifesciences Stock Down 1.8 %

Shares of Edwards Lifesciences stock traded down $1.58 during trading hours on Friday, hitting $86.43. 4,979,943 shares of the company’s stock traded hands, compared to its average volume of 2,883,164. The stock has a 50 day simple moving average of $90.28 and a 200-day simple moving average of $78.89. The company has a quick ratio of 2.40, a current ratio of 3.38 and a debt-to-equity ratio of 0.09. The company has a market cap of $52.02 billion, a PE ratio of 37.25, a PEG ratio of 4.29 and a beta of 1.05. Edwards Lifesciences has a twelve month low of $60.57 and a twelve month high of $96.12.

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

Insider Activity

In other news, CFO Scott B. Ullem sold 7,255 shares of Edwards Lifesciences stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $78.29, for a total transaction of $567,993.95. Following the sale, the chief financial officer now owns 19,248 shares of the company’s stock, valued at $1,506,925.92. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, CFO Scott B. Ullem sold 7,255 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $78.29, for a total transaction of $567,993.95. Following the sale, the chief financial officer now owns 19,248 shares of the company’s stock, valued at $1,506,925.92. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Michael A. Mussallem sold 29,350 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $86.67, for a total value of $2,543,764.50. Following the sale, the director now directly owns 4,486 shares in the company, valued at approximately $388,801.62. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 194,004 shares of company stock valued at $17,166,254. 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.